Xiaomi Group-W's share price plummeted to its lowest point since June 13. Daiwa Capital Markets anticipates that Xiaomi's second-quarter smartphone shipments will undershoot expectations, attributed to challenges in the Indian market. Despite achieving a record-high global market share, the company faces a decline in gross margin. Total revenue is anticipated to reach 112.6 billion yuan, slightly missing projections, while net profit stands at 10.2 billion yuan, meeting expectations. Daiwa Capital Markets has revised its 2025-2027 earnings per share forecast and target price down to HK$72, maintaining a "Buy" rating. Risks to consider include macroeconomic factors and electric vehicle production capacity.