On September 3, XIAOMI-W declined 3.35% in regular trading, trading at 27.12 HKD/share, with turnover of 14.36 billion HKD. The drop came after Jefferies upgraded XIAOMI-W to a \"Hold\" rating but set a target price of 25.54 HKD, roughly 6% below the current trading level, effectively signaling downside from prevailing prices.

Adding to selling pressure, BlackRock recently disclosed it had reduced its stake by approximately 2.38 million shares at an average price of 28.02 HKD on August 26, lowering its position from 5.0% to 4.99% and crossing below the key 5% regulatory disclosure threshold.

The decline occurred despite a wave of positive developments, including the upcoming global debut of the Xiaomi 18 Fold featuring the proprietary Xuanjie O3 chip and domestically produced LPDDR6 memory at IFA Berlin from September 4-8, alongside plans to scale large home appliances into Europe. Dongwu Securities and Caitong Securities both recently maintained bullish ratings on the stock, citing resilient auto delivery volumes exceeding 30,000 units for a fifth consecutive month in August.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)