BYD, Xiaomi Shares Jump After June EV Deliveries, With BYD Selling 403,472 Vehicles
Updated
Updated · CNBC · Jul 2
BYD, Xiaomi Shares Jump After June EV Deliveries, With BYD Selling 403,472 Vehicles
3 articles · Updated · CNBC · Jul 2
Summary
BYD rose about 9% and Xiaomi gained roughly 5% in Hong Kong trading after both Chinese EV makers posted June delivery figures that lifted investor sentiment.
403,472 vehicles sold by BYD in June marked a 5.46% increase from a year earlier, while Deutsche Bank said second-quarter sales climbed 58% from the prior quarter to 1.1 million units.
RMB 10 billion is Deutsche Bank's forecast for BYD's second-quarter net profit, implying a 145% quarter-on-quarter increase as stronger volume feeds through earnings.
30,000-plus June deliveries gave Xiaomi its third straight month above that level, taking first-half shipments past 180,000 units, or about 33% of Citi's cited 550,000-unit 2026 target.
August could bring another catalyst for Xiaomi, with Citi pointing to a potential share rebound around the launch of its YU9 luxury SUV.