$XIAOMI-W(01810)$ 

Xiaomi updated that it has recorded over 19.4 billion rmb of sales for the 618 event in 2023 and this is 4.4 billion rmb higher than the same event last year.

All in all, this is a good news to me. The recent negative narrative by shortsellers against Xiaomi is that they are squeezed by India regulators by confiscating Xiaomi's legitimate funds of 4 over billion rmb.

To the naysayers, this is a news that they leverage on by saying that Xiaomi is losing its market share in India and hence it's revenue would suffer. However, being an international mnc, Xiaomi has various international channels to offload it's stocks and it's domestic channel did also help.

The 618 event in China certainly helps and let's not forget that India's gross margin is likely to be much lower than that of China's one. This is a net net positive for Xiaomi and I do expect that this can bring food results for Xiaomi in 2q.

As to the shortsellers' average price last week, it seems like their average shortselling price is at 10.84 hkd. As long as Xiaomi and it's faithful investors continue to load up Xiaomi shares and decrease the pool of available stocks to the shortsellers, they would put themselves in a difficult situation.

I continue to hold Xiaomi for the long term.

As always, this should not be construed as any investment or trading advice.