$XIAOMI-W(01810.HK)The bidding is interesting, dropping directly from 43 to 41 like a needle. If there were bulls with a buyback price of 42, they would be instantly wiped out, and leveraged positions on the verge of liquidation could easily be forced out. Recent volatility has been high and erratic, so be cautious about risk control.

1. Recent Trends

There has been a slow rebound recently, partly due to CEO Lei’s continuous share repurchases stabilizing the stock price—history shows he’s never lost when trading Xiaomi shares. Another factor is Xiaomi’s car door disassembly test, which proved that the "East University’s rigorous selection" is beyond reproach, highlighting the brand’s long-term reliability compared to others. The stock price seems uninterested in existing models now, but at least the product strength is solid, and the lack of negative sentiment helps stabilize the price.

Next week, the AI narrative will kick off, and we’ll see how much the fundamentals can drive changes.

2. Holding Experience

No exaggeration, a series of events have deepened my understanding of the company’s product strength and whether its approach aligns with its values. The recent car disassembly incident reaffirmed Xiaomi’s commitment to quality—its PR never interferes with online discourse, unlike other brands, proving its "long-term reliability" claim. I trust the company’s product focus and market strategy, which form the foundation of my confidence.

But holding shares in a good company isn’t easy:

1. First, the entry point must be within the profit zone, not the risk zone.

2. You must endure volatility. Recent price swings have intensified, and with Xiaomi being a hot stock, its shareholder base is mixed. Short interest is among the top, and the competitive landscape requires long-term patience. Short-term trading based on volatility alone is painful, and a major rally seems unlikely soon.

3. Frankly, holding Xiaomi this year made me miss many opportunities—other stocks I watched rose significantly. But reflecting on it, without deeper knowledge or experience, profits from luck would likely be lost later, fostering bad habits. If investing is long-term, gaining experience short-term isn’t bad. This year’s losses weren’t due to fundamentals but volatility, poor timing, and inexperience. Going forward, I’ll be more patient and research-driven.