Xiaomi Corp. reported a less-than-expected profit decline, as a persistent memory shortage continued to weaken demand for smartphones.

Xiaomi Corp. shares dropped significantly after the company unveiled two new hybrid gas-electric vehicles priced below market expectations, raising concerns about potential pressure on profit margins.

Xiaomi Corp.'s shares could extend their best quarterly performance in over a year if the company's upcoming earnings report demonstrates effective management of rising material expenses.

Mercedes-Benz Group AG is losing ground in China's premium auto market, selling only 1,153 units in the first half of 2026, a stark contrast to the over 80,000 similarly priced SU7 sedans delivered by Xiaomi Corp. in the same period.