BYD and Xiaomi Jump on Strong June EV Delivery Numbers

Hong Kong-listed shares of Chinese electric-vehicle makers BYD and Xiaomi surged on Thursday after June delivery figures fueled investor optimism. BYD gained roughly 9%, and Xiaomi climbed about 5%.

Xiaomi delivered more than 30,000 vehicles in June, marking its third consecutive month above that threshold. First-half deliveries totaled over 180,000 units, roughly a third of the company's 2026 target of 550,000, Citi said. The brokerage added that Xiaomi's shares could rebound in August when the YU9 luxury SUV hits the market. Citi also said any sign of memory-chip capacity peaking from Chinese manufacturers would be positive for Xiaomi.

BYD posted June sales of 403,472 vehicles, up 5.46% from a year earlier. Second-quarter sales rose 58% from the previous quarter to 1.1 million units, according to Deutsche Bank. The bank forecast BYD's quarterly net profit to jump 145% quarter on quarter to RMB 10 billion.

The delivery numbers come at a time of fierce competition in China's EV market, with manufacturers engaging in price wars and launching new models.