Xiaomi Shares Surge 7% on Record 30,000 EV Deliveries in April

Key Highlights

Table of Contents

April EV deliveries surged past 30,000 vehicles, marking a 50% increase from March figures
Shares gained 6.75% at close in Hong Kong trading; touched 11% higher during the session
The redesigned SU7 sedan has secured more than 70,000 confirmed orders since its debut
Cumulative 2025 deliveries stand at 109,000 vehicles — representing roughly 20% of the annual 550,000-unit goal
Financial experts caution that profitability challenges may persist amid subsidy programs and scaling expenses

Xiaomi’s electric vehicle division posted impressive results in April, triggering a notable market response.

The Chinese technology giant moved more than 30,000 electric cars during the month, representing a substantial 50% monthly increase and marking the company’s strongest growth rate this year. Shares concluded Monday’s Hong Kong session with a 6.75% gain, following an intraday peak of 11% that pushed the price to HK$31.56.

The day’s trading activity reached HK$5.2 billion in volume, positioning Xiaomi among the exchange’s most heavily traded securities.

April’s performance was largely attributed to the redesigned SU7, the company’s premium sedan model, which completed its first full delivery month following a late March introduction.

Founder and CEO Lei Jun revealed via Weibo over the weekend that confirmed reservations for the updated SU7 have surpassed 70,000 units. He mentioned that certain customization choices will be discontinued post-launch period to streamline manufacturing operations.

Pricing for the base SU7 begins at 219,900 yuan (approximately $32,200), while the Pro and Max editions are listed at 249,900 yuan and 303,900 yuan respectively. These figures represent a 10,000 yuan reduction from initial presale projections, though they’re roughly 4,000 yuan higher than the 2024 first-generation version.

Between January and April, Xiaomi delivered a combined 109,000 electric vehicles — reflecting an 11% annual increase but constituting just one-fifth of its ambitious 550,000-vehicle delivery objective for 2026.

Reaching that annual benchmark would require average monthly deliveries exceeding 55,000 units throughout the remaining months. That represents a significant acceleration from present output levels.

Financial Outlook Remains Cautious

While delivery figures impressed investors, financial analysts maintain reservations about upcoming quarterly results.

Citi’s research team, headed by Kyna Wong, indicated that first-quarter earnings probably declined both sequentially and annually. Their projections estimate Q1 revenue around 97 billion yuan — representing a 17% quarter-over-quarter drop and a 13% year-over-year decline.

The company’s traditional smartphone division faces headwinds from escalating memory component prices, despite Xiaomi‘s strategic pivot toward premium device segments.

Regarding the electric vehicle segment, margin pressure is anticipated to continue due to customer incentive programs and expenses associated with manufacturing scale-up.

Forward-Looking Indicators

Current delivery timeframes offer insight into consumer appetite. The YU7 standard configuration shows 7 to 10 week lead times. The refreshed SU7 base model extends to 8 to 11 weeks, while the Max variant requires 9 to 12 weeks.

Xiaomi presently maintains 495 retail locations spanning 165 cities nationwide, with plans to inaugurate two additional showrooms during May.

The YU7 GT performance variant is slated for a late May introduction, with several additional models scheduled for the latter half of 2026.

With 110,000 vehicles delivered through April’s conclusion, Xiaomi faces considerable challenges in achieving its full-year delivery ambitions.