Xiaomi SU7: 70,000 Orders in Six Weeks and a 6.75% Increase in Hong Kong Stocks

The Xiaomi stock (HKG: 1810) closed on Monday, May 4, at HK$30.98, with a rise of 6.75%, which significantly outperformed the Hang Seng Index (+1.24%), the main stock index of the Hong Kong Stock Exchange. The catalyst is twofold: confirmed orders for the new generation of SU7 have exceeded 70,000 units in just over six weeks since launch, and April deliveries have rebounded strongly beyond 30,000 units compared to 21,440 in March.

The announcement was made on Saturday via Weibo (source), where Xiaomi EV communicated the milestone of locked-in orders, meaning confirmed deposits rather than mere soft reservations. The progression has been rapid: 30,000 at the start of deliveries on March 23, 40,000 by April 2, and 60,000 at the opening of the Beijing Auto Show 2026 on April 24. CEO Lei Jun had already hinted at the number last Sunday in a personal post on Weibo, emphasizing that the model was still within its initial commercial window.

Launch Benefits Expiring and Configuration Cuts

The commercial deadline looms: the launch period benefits expire at midnight on May 5. For the Standard and Pro versions, the package is valued at 44,000 yuan and includes a zero-gravity seat for the front passenger and a motorized frunk. This means that if purchased before the deadline, this version will cost about 5,500 euros less than its standard price. The Max version offers benefits for 69,000 yuan, with an ultra-silent cabin and a carbon fiber package. Starting May 6, the value of these packages will drop across all variants, concurrently with Xiaomi removing some optional configurations to simplify production and accelerate delivery times. The company has assured that the supply of after-sales spare parts will remain unchanged even for the eliminated configurations.

The price list for the new SU7 starts at 219,900 yuan (approximately 27,490 €) for the Standard, rises to 249,900 yuan (approximately 31,240 €) for the Pro, and reaches 303,900 yuan (approximately 37,990 €) for the Max. These prices are slightly higher than the first generation, but the positioning continues to directly challenge the Tesla Model 3.

Aiming for 550,000 Vehicles in 2026

The April rebound is crucial for annual targets: Xiaomi aims to deliver 550,000 vehicles in 2026, about 34% more than the 410,000 units in 2025. This is a target already surpassed compared to the 350,000 initially expected at the beginning of the year.

According to available data, total deliveries in April exceed 30,000 units, although Xiaomi EV has not disclosed the precise figure: the number will be announced at the end of the month by the China Passenger Car Association (CPCA). At the end of May, the official launch of the high-performance SUV YU7 GT is also expected, featuring 990 HP, a stated range of up to 705 km in the CLTC cycle, and estimated prices between 450,000 and 500,000 yuan.

On the organizational front, Xiaomi EV has recruited Kong Yanshuang, former general manager of Tesla China. The entry of Tesla veterans aims to strengthen both retail operations and manufacturing capacity at a time when the automotive division needs to sustain increasing production rates to meet the annual target.