Xiaomi has been doing buybacks with stock price falling, e.g.
June 22 bought back 6.42m shares for HK$152mn, avg. price at HK$23.68
June 23 bought back 8.44m shares for HK$193mn, avg. price at HK$22.86
People joked that Xiaomi is quite good at buying and selling its own shares.
How good is Xiaomi?
1/ When Xiaomi stock was at more depressed levels (2022 & 2023), it didn’t buy back more aggressively.
In 2021, Xiaomi bought back at avg. HKD 24.5 per share; spent about 8.4bn HKD.
In 2023, when Xiaomi stock is only half of 2021 buyback price, Xiaomi spent 1.5bn HKD in buyback, which is 18% of 2021 in dollar amount.
The number of shares bought back decreased year over year from 2021 to 2023: 344mn -> 235mn -> 127mn.
2/ Xiaomi is good at selling.
The company sold 800 million shares at HK$53.25 each in March 2025; raised $5.5 billion.
In Dec 2020, Xiami sold 1.0bn Class B shares at HK$23.70 per share, plus $855 million through seven-year, zero-coupon convertible bonds, raising $4 billion in total.
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Be careful – when Xiaomi resumed buybacks in late 2025 and stepped up in 2026, it’s good but it doesn’t mean much – it could be like 2021.
