HK Stock Market Move | Xiaomi-W(01810) rose more than 4% during trading hours. Earlier, Xiaomi officially announced the new series of Xiaomi cars "SkyNomad Xiaomi Pengcheng."

Xiaomi-W (01810) rose more than 4% in intraday trading, as of the time of writing, it has risen by 3.44% to HK$25.86, with a trading volume of HK$5.844 billion. On the news front, on July 9th, Xiaomi Group Chairman Lei Jun revealed the second product series under Xiaomi's car subsidiary - SkyNomad Xiaomi Pengcheng. Lei Jun made it clear that Xiaomi's car currently has two main product series: the SU7/YU7 series focusing on "driver's car", and the Pengcheng series targeting "intelligent variable large space SUV", forming a differentiated layout. He revealed that the Pengcheng project was planned to start in early 2023 and will utilize the Kunlun architecture, which will be officially released soon. Goldman Sachs previously pointed out in a research report that with Xiaomi Group entering a period with rich catalysts in the coming months, the progress of smart electric cars and artificial intelligence will become the core focus of investors. The bank believes that the third quarter could potentially bring turning point opportunities both in market sentiment and financial aspects.