Xiaomi's Adyen Partnership and Steady EV Output Struggle to Offset Chip-Driven Margin Squeeze
Veröffentlicht: 07.07.2026 um 18:41 Uhr, Redaktion boerse-global.de
The Chinese technology group is executing on two fronts—streamlining payments and scaling electric-vehicle deliveries—yet its shares show little sign of a sustained recovery. Xiaomi's stock changed hands at around €2.59 on Tuesday, extending a year-to-date decline of roughly 42% that has left it languishing 34% below its 200-day moving average near €3.95. The 52-week trough of €2.34, hit on 26 June, remains uncomfortably close despite a modest bounce of about 12% from that level.
Adyen Deal Targets Cost Efficiency Across 18 Markets
Xiaomi confirmed on Monday that it has selected Dutch payments specialist Adyen to manage its international payment processing across 18 jurisdictions, including the European Union, Japan and Mexico. The tie-up consolidates online and in-store transactions into a single interface, reducing operational complexity at a time when rising memory-chip prices are eating into smartphone margins industry-wide. Adyen's own stock rose 2.9% on the day in reaction to the partnership.
The move is designed to cut costs in the electronics business, which operates on thin margins. Analysts note that while the immediate financial impact may be limited, more efficient payment flows could ultimately bolster margins in Xiaomi's higher-margin internet services segment.
EV Deliveries Hold Steady, But Annual Target Looms Large
In the automotive division, Xiaomi delivered more than 30,000 electric vehicles for a third consecutive month in June. That consistency signals that production is stabilising, but the full-year target of 550,000 units remains a formidable challenge. To hit that goal, monthly deliveries would need to average nearly 62,000 vehicles in the second half—well above the current run rate and even the previous record set last December.
Should investors sell immediately? Or is it worth buying Xiaomi?
Rising export volumes, which hit new highs in June according to data released over the weekend, offer some encouragement. Yet the sheer step-up required means scaling production quickly enough to meet the target while keeping quality and cost in check.
Memory-Chip Shortage Casts a Shadow Over Core Business
The recovery narrative has a significant caveat. A persistent shortage of memory chips has forced several major smartphone makers, including Xiaomi, to trim their 2026 shipment forecasts by as much as 30%, according to industry reports. Higher component costs are compressing gross margins in the handset business—the group's bread and butter—and early evidence of the squeeze already showed up in first-quarter results.
Technical Signals Point to Tentative Stabilisation
On the charts, the stock's 14-day relative strength index stands at 39.0, indicating that selling pressure is easing after weeks of declines. The €2.60 level has emerged as a near-term support; if price action can hold above it in the coming sessions, the nascent base-building effort could gain traction. Still, the gap to the 200-day average is vast, and no clear buy signal has materialised.
Xiaomi at a turning point? This analysis reveals what investors need to know now.
All eyes now turn to the next quarterly report, due in August. Investors will be watching closely to see whether the Adyen infrastructure has begun to reduce operational costs in the smartphone segment and whether the electric-vehicle division can generate enough profit momentum to offset the chip-driven headwinds. Without a convincing margin turnaround, the 52-week low at €2.34 could come back into play quickly.
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