Understanding the Market | Xiaomi Corporation-W once fell nearly 6% as the company is once again caught in a public opinion whirlpool, with reports stating that many car owners are requesting refunds
Xiaomi Corporation-W fell against the market trend in early trading, at one point dropping nearly 6%. As of the time of writing, it was down 3.02%, trading at HKD 49.8, with a turnover of HKD 6.245 billion. In terms of news, recently, Xiaomi's automotive division has once again fallen into a public relations crisis, with many car owners demanding refunds. According to Yicai, several prospective owners of the SU7 Ultra believe that the high-priced optional carbon fiber dual air duct front hood has issues with false advertising. On the evening of May 7, Xiaomi's automotive division publicly apologized and launched a compensation plan, but many consumers do not accept this plan and are pursuing rights protection for a no-loss refund. Reports indicate that several prospective owners of the SU7 Ultra have formed a rights protection group, with the number of people seeking no-loss refunds exceeding 300. In addition, Xiaomi's chairman Lei Jun expressed on his personal social media platform that "the past month has been the most difficult time since the founding of Xiaomi." This comes less than two months after the high-speed combustion incident involving the Xiaomi SU7 on March 29
According to Zhitong Finance APP, Xiaomi Corporation-W (01810) fell against the market trend in the morning session, with a drop of nearly 6% at one point. As of the time of publication, it was down 3.02%, priced at HKD 49.8, with a transaction volume of HKD 6.245 billion.
On the news front, recently, Xiaomi Auto has once again fallen into a public opinion whirlpool, with many car owners demanding refunds. According to Yicai, several prospective owners of the SU7 Ultra believe that the high-priced optional carbon fiber dual air duct front hood has issues of false advertising. On the evening of May 7, Xiaomi Auto publicly apologized and launched a compensation plan, but many consumers do not accept this plan and are pursuing rights protection for a no-loss refund. Reports indicate that several prospective owners of the SU7 Ultra have formed a rights protection group, with the number of people seeking a no-loss refund exceeding 300. In addition, Xiaomi's chairman Lei Jun expressed on his personal social platform that "the past month has been the most difficult time since the founding of Xiaomi." This comes less than two months after the high-speed combustion incident involving the Xiaomi SU7 on March 29
