<figure id="attachment_3036594" aria-describedby="caption-attachment-3036594" style="width: 1600px" class="wp-caption aligncenter"><img loading="lazy" class="wp-image-3036594 size-full" src="https://media.freemalaysiatoday.com/wp-content/uploads/2025/04/b2369110-xiaomi-su7.jpg" alt="Xiaomi SU7" width="1600" height="1000" /><figcaption id="caption-attachment-3036594" class="wp-caption-text">Xiaomi’s Q2 revenue likely rose 30%, driven by its electric vehicle business. (EPA Images pic)</figcaption></figure>
BEIJING: Xiaomi Corp and Xpeng Inc are the next Chinese carmakers to report amid Beijing’s pressure to curb the industry’s long-running price war.
Geely Automobile Holdings Ltd was first out the gate yesterday with earnings that beat expectations.
With steep discounts less likely, automakers will need to roll out new models fast, offer technological innovations to entice customers, and risk rising costs with surging research &amp; development (R&amp;D) in doing so.
&#8220;The sector’s R&amp;D spending has tripled between 2020 and 2024,&#8221; Bloomberg Intelligence (BI) said.
A large burden of that falls on startups, including Li Auto Inc, Nio Inc and Xpeng, who are spending big on autonomous driving to compete with industry heavyweights Xiaomi, Tesla Inc and Huawei Technologies Co.
In the consumer space, Gen-Z favourites Pop Mart International Group Ltd and Laopu Gold Co are a bright spot, amid general sluggish spending in China.
Soaring demand for Labubu dolls and fixed-priced gold jewelry has propelled profits and valuations over the first half (H1) of 2025.
Highlights to look out for:
There are no notable earnings on Monday.
On Tuesday, Xiaomi’s second-quarter (Q2) revenue likely rose 30%, driven by its electric vehicle (EV) business.
While its smartphone and lifestyle divisions still contribute more revenue, EVs are quickly closing the gap, with quarterly sales estimated to have more than tripled.
&#8220;Further growth Xiaomi on track to overtake Tesla’s unit sales in China next year,&#8221; BI said.
Xpeng’s R&amp;D costs are seen up 42% in the quarter, though down on a per-unit basis due to increased efficiency and larger scale, according to BI.
Adding key models &#8211; including the P7 sedan this month and the extended-range X9 in the fourth quarter &#8211; should help future sales.
Pop Mart’s H1 sales are set to triple, as its plush Labubu dolls have become Gen Z’s most-coveted toy.
In July, it reported preliminary H1 profit up at least 350%.
&#8220;Overseas sales are expected to overtake the domestic market in 2025,&#8221; CEO Wang Ning said in an interview.
&#8220;On Wednesday, Laopu Gold’s earnings is set to be boosted by an emerging ‘she-economy’,&#8221; BI said, referring to women’s growing economic influence in shaping demand and spending.
The jewelry maker expects H1 sales to rise as much as 252%, with profit growth for the period eclipsing that.
&#8220;Baidu’s quarterly revenue likely slipped, amid weak AI monetisation and rising development costs,&#8221; BI said.
Hong Kong Exchanges &amp; Clearing’s strong cash equities trading and an IPO boom should lift profit.
Investment income may be impacted by the plunge in Hong Kong interbank rates since early May, according to BI.
&#8220;Jiangsu Hengrui Pharmaceuticals could see a US$200 million payment for a heart drug pact with Merck &amp; Co help Q2 sales,&#8221; BI said.
GSK Plc’s US$500 million upfront payment for a potential treatment for chronic lung disease could further support outlook.
&#8220;Santos could pay an interim 2025 dividend of US$0.134 per share,&#8221; Jarden Research said.
Yesterday, Kuaishou Technology’s Q2 revenue likely rose as its Kling AI tool continues to be in focus.
Shares slipped earlier this month over concerns of its entry into China’s food delivery industry, where aggressive pricing and promotions have intensified sector competition.
Bilibili should post a 20% rise in quarterly revenue on a continued increase in active user base and advertising sales.
Today, China Vanke’s H1 net loss could widen to ¥12 billion (US$1.67 billion), according to a preliminary filing, as China’s property sector remains depressed.
The embattled developer is also seeking to extend its domestic bank loans by as much as 10 years as it navigates liquidity risks.

MatchPoint Times

Xiaomi, Xpeng offer clues to China EV sector amid price war

Startups, including Li Auto Inc, Nio Inc and Xpeng are spending big on autonomous driving to compete with industry heavyweights.

Gagal bayar ganti rugi, Yeoh mohon pensyarah UUM diisytihar bangkrap

Address gaps in permanent parliamentary committee proposal, MPs told