HK Movers | Xiaomi Jumps About 4% as "Double Eleven" Shopping Festival Sales Exceed RMB 29 Billion

Xiaomi shares jumped 3.5% in Hong Kong.

Xiaomi released its 2025 "Double Eleven" shopping festival sales report, revealing that as of November 11 at 23:59:59, total payments across all channels surpassed RMB 29 billion. It is reported that during this year's Double 11, Xiaomi offered discounts totaling RMB 2 billion, with individual products seeing savings of up to RMB 4,000. The promotional products covered various categories including smartphones, digital devices, home appliances, and more.

A recent research report from Guosheng Securities pointed out that the continuous optimization of Xiaomi's smartphone product structure might positively impact the gross profit margin of its phones. However, considering the global surge in storage chip prices leading to increased cost pressures, the firm expects the company's Q3 and Q4 smartphone gross margin to remain around 11%. Furthermore, the report suggests that while the reduction in national subsidies may have some impact on the growth of the home appliance sector, Xiaomi is likely to maintain strong comprehensive competitiveness in the IoT sector due to its product quality advantages and supply chain management capabilities.