Xiaomi stock faces November 24 earnings test after CICC Buy rating

Xiaomi stock faces a fresh earnings test after CICC maintained its Buy rating on November 3 and set a price target of HKD 34.00. The analyst call came as investors weighed the company's smartphone business against its expanding electric-vehicle operations.

Markets Insider, citing TipRanks, said CICC compared the target with a consensus average of HKD 34.29. The report also said Xiaomi generated quarterly revenue of HKD 108.46 billion and net profit of HKD 9.42 billion for the quarter ended June 30, compared with HKD 115.96 billion and HKD 11.90 billion respectively a year earlier.

Vehicle growth meets margin pressure

The figures leave Xiaomi with a mixed operating backdrop. Vehicle deliveries have become an increasingly important growth driver, but the earnings comparison shows that expansion has not yet translated into stronger group revenue or profit. The November results will give investors a fuller view of vehicle economics, smartphone demand and the cost burden of the broader product push.

Xiaomi's investor-relations page describes the group as a consumer-electronics and smart-manufacturing company built around smartphones, smart hardware and an Internet-of-Things platform. Its most recent listed results event was the second-quarter announcement on August 18, while the next results announcement is scheduled for November 24.

The real-time quote of Xiaomi stock was 3.45 euros on Lang & Schwarz at 09:46 CET on Monday, November 9, 2026.

What investors should watch next

The November 24 report is the next test for the investment case. Investors will focus on whether vehicle growth is accompanied by improving profitability and whether the smartphone and smart-hardware businesses can offset pressure visible in the June-quarter comparison.

The European market environment remains relevant for sentiment toward technology and growth stocks, even though Xiaomi's operating exposure is concentrated in China and its principal listing is in Hong Kong.

For more news and analyses on Xiaomi stock, the November 24 results will provide the next company-specific catalyst.