Shares of BYD and Xiaomi rise following June delivery figures that indicate sustained momentum.
Summary: BYD's shares rose by 9%, while Xiaomi's increased by 5% during Hong Kong trading after better-than-expected June delivery numbers. Deutsche Bank predicts BYD's Q2 profit will jump by 145% compared to the previous quarter.
On Thursday, shares of Chinese electric vehicle manufacturers listed in Hong Kong saw a significant rise after June delivery results exceeded predictions. BYD experienced a gain of approximately 9%, and Xiaomi saw an increase of about 5%. BYD reported 403,472 vehicle sales in June, reflecting a year-over-year growth of 5.46%.
According to Deutsche Bank, BYD's sales volume for the second quarter rose by 58% from the first quarter, reaching 1.1 million units. The bank anticipates a quarterly net profit surge of 145% quarter-on-quarter to RMB 10 billion for Q2. BYD's international sales soared by 94.7% year-on-year to 175,349 vehicles in June, though domestic deliveries decreased by 22%, suggesting that growth is now being driven by expansion abroad.
Xiaomi announced its third consecutive month of exceeding 30,000 deliveries in June. From January to June, the company shipped over 180,000 units, which is approximately 33% of its delivery goal of 550,000 for 2026, as reported by Citi. The bank indicated that Xiaomi’s shares might further recover in August with the anticipated launch of its YU9 luxury SUV.
Citi also pointed to a potential catalyst from the memory market, stating, “Any indication of memory prices stabilizing due to increased capital expenditures from global Chinese memory producers could positively impact Xiaomi shares,” as it reflects the AI-driven memory shortage that has been affecting Xiaomi’s smartphone profit margins alongside its electric vehicle growth.
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Shares of BYD and Xiaomi rise following June delivery figures that indicate sustained momentum.
BYD increased by 9% and Xiaomi by 5% in Hong Kong following the June statistics. BYD's sales reached 403,472 units, while Xiaomi achieved over 30,000 deliveries for the third consecutive month.