Xiaomi Corp shares surged 9.2% in Hong Kong morning trading today, the biggest gain in nearly three months, after the company reported strong order numbers for its SkyNomad EV model. Xiaomi said it received more than 70,000 orders for the SkyNomad in the first month after its launch. Goldman Sachs analysts view the orders as supporting their overall growth outlook for Xiaomi, even though the figure came in below market expectations, and expect refreshed and new models to also support growth in deliveries within China. Earlier this year, Xiaomi shares faced volatility as the company grappled with higher raw material costs and intense domestic competition, amid growing uncertainty about its ability to meet its annual EV delivery targets.
Xiaomi CorpXiaomi received over 70,000 SkyNomad EV orders in the first month after launch, a concrete product-demand event.
Goldman Sachs Group Inc
