“Exciting News: Mysterious Company Exceeds Market Expectations”
Bin Wing, the head of automotive research for Asia at Deutsche Bank, shared in a report that there were approximately 41,000 orders placed for the SU7 in January, a significant jump from the 30,000 orders recorded in December. Wing attributed this surge to the remarkable increase in foot traffic at the company’s showrooms following the unveiling of their latest product, the ‘YU7’ SUV. Consequently, Xiaomi EV now boasts an estimated backlog of over 140,000 units as of January 2025.
It is anticipated that Xiaomi will grapple with ongoing supply constraints this year due to the backlog of orders, continuous influx of new orders, and the upcoming launches of the SU7 Ultra on March 31st and the YU7 later in 2025. In a recent post on X, Jun expressed intentions to collaborate with the team to expedite production while maintaining uncompromised standards of quality and safety.
The recent surge in Xiaomi’s stock has significantly increased Lei’s net worth by $5.8 billion in 2025, bringing it up to $35.4 billion as per the Bloomberg Billionaires Index. Lei currently holds the 49th position on the wealth index, just trailing former Google CEO Eric Schmidt. The stock closed 7.3% higher on Friday at 44.70 Hong Kong dollars.
In a note dated February 6, HSBC analyst Frank He reaffirmed a “buy” rating on Xiaomi’s stock and revised the target price from 37.90 to 49.90 Hong Kong dollars. He reported that monthly deliveries of the SU7 surpassed 20,000 units in January for the fourth consecutive month and revised his EV delivery estimate for the year from 304,000 to 330,000 units.
Moreover, the HSBC analyst anticipated that China’s smartphone subsidy program would bolster Xiaomi’s shipments and increased his 2025 forecast by 2%. According to Counterpoint Research, Xiaomi captured a 14% share of the global smartphone market in the third quarter of 2024, with shipments climbing 3% year-over-year driven by robust performance in China.
