STOCKS | Xiaomi Falls 3.8% Ahead Of New Vehicle Launch Event

Xiaomi fell 3.8% to HK$27.36 on turnover of about 66.55 million shares worth HK$1.834 billion, according to ETNet. The company is set to hold its autumn flagship product launch event at 7:00 PM tonight, where it will unveil and officially launch three new models in its all-new extended-range SUV series, Xiaomi Pengcheng: the N70 Pro, N70 Max and N90 Max. Xiaomi founder Lei Jun said the lineup includes five-seat and seven-seat versions, and features a front double-wishbone and rear multi-link suspension, high-speed tire blowout stability control, emergency floating capability, low-speed warning lights, a 1.5T Kunlun range extender, long range and low fuel consumption, as well as standard lidar, Nvidia Thor-U chips, 2,200MPa ultra-high-strength steel, an embedded roll cage and one-piece hot-formed door rings. Xiaomi will also launch the Xiaomi 18 Fold foldable flagship smartphone and the Xiaomi Pad 9 Pro Max tonight. Lei said on Weibo that cumulative deliveries of Xiaomi Auto have exceeded 800,000 vehicles. He previously said at the Xiaomi Pengcheng technology launch event on July 30 that Xiaomi Auto had introduced the SU7 and YU7 models over the past two and a half years and delivered more than 700,000 vehicles in total.