Xiaomi returned to the buyback window for a second consecutive trading day, repurchasing roughly 1.73 million Class B shares for a total of about HK$49.83 million. The stock is earmarked for cancellation. The move followed Thursday’s repurchase of 1.67 million Class B shares, which cost the company HK$49.91 million — a disclosure that also documented the issuance of new shares under an equity plan.
The buybacks came as the stock slipped 2.2% in Hong Kong, closing at €3.34, caught in a broad selloff across the city’s technology names. RTHK linked the market-wide weakness to the Nvidia turmoil and concerns about possible restrictions on access to advanced AI chips. That diagnosis applied to the sector as a whole rather than to Xiaomi specifically, with large technology and internet stocks — Xiaomi among them — retreating together.
CLSA Trims Forecasts but Keeps Its Rating
Separately, CLSA cut its forecast for Xiaomi’s adjusted net profit in 2026 by 13%, and lowered its estimate for the following year by 17%. The brokerage pointed to weaker-than-expected consumer spending in China as the driver. It left its rating at “Outperform” and its price target unchanged at HK$35, meaning the reduced earnings expectations came with an intact valuation call.
Should investors sell immediately? Or is it worth buying Xiaomi?
Board Meeting Set for November 24
Investors will get a fuller picture when Xiaomi’s board convenes on November 24, 2026, to review and approve the unaudited consolidated results for the third quarter of 2026 and for the nine months ended September 30, 2026. The date falls within the next two weeks.
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