Xiaomi is trading 4.6% down now at $17.20 after investors reacted to sharply reduced guided prices for its new Pengcheng N70 and N90 extended-range SUVs.
- Pricing renewed concerns that Xiaomi's automotive break-even point could be delayed and cash reserves further pressured amid intense competition.
- Broader Hong Kong technology and mobile-phone supply-chain weakness also weighed on sentiment.
- The foldable-phone launch did not prevent the decline; the move was company- and sector-linked rather than driven by a broad U.S. market selloff.