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Lei Jun announced the progress of Xiaomi Autos opening stores: there are already 235 stores nationwide, with a plan to add 33 more stores in April.
Sina Technology reported on the evening of March 31 that Lei Jun, the founder of Xiaomi Group, posted on Weibo to announce the latest progress in opening Xiaomi Autos stores. Lei Jun stated that 15 new stores were added in March, bringing the total to 235 stores across 65 cities nationwide; as of March 31, there were 127 service points across 75 cities in the country. He also mentioned, "In April, 33 new stores are planned to be added, with seven new stores expected in Baoding, Dezhou, Deyang, Shantou, Xiangtan, Liuzhou, and Ma'anshan." (Yan Yan)
XIAOMI-W (01810.HK) successfully placed a total of 0.8 billion shares, raising approximately 42.5 billion Hong Kong dollars.
On March 31, Gelonghui reported that XIAOMI-W (01810.HK) announced the completion of the placement on March 27, 2025, in accordance with the terms and conditions of the placement and subscription agreement. A total of 0.8 billion placement shares were successfully placed by the agent to no fewer than six subscribers at a placement price of HKD 53.25 per share based on best efforts. The net proceeds from the subscription are approximately HKD 42.5 billion. The company plans to use the net proceeds from the subscription for (a) accelerating Business expansion; (b) investment in research and development to further enhance its Technology strength; and (c) Other general corporate purposes.
Chinese Tech Stocks in Correction Territory Amid Profit-taking, Global Selloff
An insider from Midea responded to the clearance of Xiaomi: it's a normal financial Assets investment.
Sina Technology reported on the afternoon of March 31 that Midea Group Co., Ltd's 2024 annual report showed that the company sold 0.902 billion yuan worth of Xiaomi Group Stocks, completely liquidating its position. Since 2015, Midea Group has held Xiaomi Stocks for nearly 10 years and began to accelerate the sell-off of Xiaomi Stocks starting in 2020. In response, an insider from Midea Group stated to Sina Technology, 'It's just a normal financial Assets investment.'
Trending Stocks Today: PETROCHINA Inches up 2.59%
CITIC: Maintain YONGDA AUTO "Outperform Industry" rating and raise the Target Price to 3.00 Hong Kong dollars.
CICC released a Research Report stating that it maintains YONGDA AUTO (03669) 2025 Net income approximately unchanged, and introduces 2026 Net income of 0.462 billion yuan for the first time. The current stock price corresponds to a PE of 13.4 times for 2025 and 10.1 times for 2026, maintaining an outperform rating in the Industry. Due to the sector's valuation being elevated and the company's rich matrix of Electric Vehicles models, it has raised the Target Price by 29.9% to 3.00 HKD, corresponding to a PE of 15.0 times for 2025 and 11.4 times for 2026, with 2024 performance meeting the bank's expectations. CICC's main viewpoints are as follows: 2024 performance meets the bank's expectations.
