Bearish wagers against Xiaomi Corp. climbed to a record ahead of first-quarter
earnings, with short interest rising to about 9% of free float last week from
less than 2% a year earlier, according to S3 Partners. Xiaomi shares have fallen
about 50% from a record high in July, making them among the weakest performers
on the Hang Seng Tech Index over that period. Kevin Net said rising memory
prices, a weak consumer environment in China and intense competition in the EV
The market has weighed on profitability and sentiment.
