Xiaomi Corporation (1810.HK) shares fell on September 29, 2026, after the company released its second-quarter results.
Adjusted net profit was RMB 6.2 billion. That was down 42.6% from the same period last year. The decline was largely attributed to rising costs for key components, particularly memory chips, which squeezed margins in the core smartphone business.
Revenue for the quarter was RMB 108.9 billion. Smartphone shipments fell 26.5% year over year.
Deliveries in Xiaomi's smart electric vehicle (EV) division rose 28.2%. The segment still recorded an operating loss as the company continued heavy investment in the new venture.