$XIAOMI-W(01810.HK) There are no positive catalysts in sight this year, still 400k short of the 550k target (there's still the MPV in the second half, and deliveries won't start until October). As for the so-called overseas expansion, we'll have to wait until year-end to see. In the meantime, any fluctuations in the broader market will likely drag Xiaomi down. Smartphone sales have been weak for half a year, and even the 618 shopping festival didn't provide a boost. The new models in the second half won't change the design language or back panel, so smartphone sales will have to rely on Double 11. Small appliances like air conditioners are selling well, but they can't lift the stock price. I cut my losses at 16k and got out. It's a headache to watch every day.