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President Lu Weibing: XIAOMI-W To Launch New Mid-to-Large Model in 2H, Confident of Meeting Full-Yr 500K Units of Delivery Target
The SU7 has stronger edges over the Model 3, but there remains a gap versus the Model Y in terms of sales mix, Lu Weibing, President of XIAOMI-W (01810.HK), said. Sales of new mode...
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President Lu Weibing: XIAOMI-W To Launch New Mid-to-Large Model in 2H, Confident of Meeting Full-Yr 500K Units of Delivery Target
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The SU7 has stronger edges over the Model 3, but there remains a gap versus the Model Y in terms of sales mix, Lu Weibing, President of XIAOMI-W (01810.HK)  -0.520 (-1.821%)    Short selling $2.09B; Ratio 30.107%   , said. Sales of new models have not yet been fully released, making it difficult to quantify the overall impact on gross margin for the entire vehicle lineup at this juncture. However, Lu viewed that the boost to full-year sales volume will definitely be noticeable.

Regarding deliveries and new model planning, he noted that in 1Q26 only the older version of the SU7 was delivered in January and February. As subsequent model iterations and upgrades were introduced, Xiaomi deliberately suspended sales of the older version for nearly two months to avoid undermining existing users’ perception amid rapid upgrades, and to provide customers with sufficient time to understand and select new products.

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He added that a brand-new mid-to-large model built on a new platform will be launched in 2H26, featuring multiple derivative versions. The product is highly innovative and competitive. The Group has high expectations for this new model and is confident of achieving the full-year delivery target of 500,000 vehicles.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-29 16:25.)

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