TL;DRBYD gained 9% and Xiaomi 5% in Hong Kong trading after strong June deliveries. Deutsche Bank forecasts BYD’s Q2 profit rising 145% quarter on quarter.
Hong Kong-listed shares of Chinese EV makers surged on Thursday after June delivery figures beat expectations. BYD gained around 9% and Xiaomi climbed about 5%. BYD posted 403,472 vehicle sales in June, up 5.46% from the same month last year.
Deutsche Bank said BYD’s second-quarter sales volume rose 58% from the previous quarter to 1.1 million units. The bank forecasts quarterly net profit increasing 145% quarter on quarter to RMB 10 billion in Q2. BYD’s overseas sales jumped 94.7% year on year to 175,349 vehicles in June, though domestic deliveries fell 22%, indicating that international expansion is now driving growth.
Xiaomi reported its third consecutive month of over 30,000 deliveries in June. The company’s January-to-June shipments totalled over 180,000 units, representing about 33% of its 2026 delivery target of 550,000, according to Citi. The bank said Xiaomi’s shares could rebound further in August with the launch of its YU9 luxury SUV.
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!Citi also flagged a potential catalyst from the memory market. “Any sign of memory peaking given more capex announcement from global Chinese memory makers could be positive to Xiaomi shares,” it noted, reflecting the AI-driven memory shortage that has been squeezing Xiaomi’s smartphone margins alongside its EV momentum.
