🔴 1810.HK is trading 4% down today on broker downgrade and margin pressure across EV and smartphone units

1810.HK is trading about 4% down now at $21.40 as investors react to ongoing concerns around its electric vehicle and smartphone margins.

• Recent analysis highlights operating losses in Xiaomi’s EV and AI units alongside rising memory costs that are squeezing smartphone profitability.
• Sentiment remains cautious following a bearish broker downgrade tied to intensifying EV price-war risks and weak returns on new growth initiatives despite ongoing buybacks.