Zhi Tong Cai Jing·2025-11-06 06:45Core Viewpoint - Goldman Sachs indicates that market sentiment is turning cautious ahead of Xiaomi Group-W's (01810) earnings report, with hedge funds increasing their short positions significantly [1] Group 1: Market Sentiment and Hedge Fund Activity - Hedge fund short positions in Xiaomi have increased by 53% over the past week, according to Goldman Sachs' sales department [1] - Institutional trading led by pension funds and hedge funds has shown a net selling trend over the past two weeks [1] - Hedge funds view Xiaomi as a consensus short/sell target in the short term due to a lack of catalysts [1] Group 2: Factors Affecting Market Sentiment - Concerns over safety, production delays, and weak demand for electric vehicles despite recent promotional activities are contributing to negative market sentiment [1] - Market sentiment has deteriorated sharply compared to earlier this year when optimism about Xiaomi's entry into the electric vehicle sector had driven its stock price up [1] Group 3: Stock Performance and Analyst Predictions - Xiaomi's stock price has fallen over 25% since peaking in early July [1] - Goldman Sachs analysts have lowered Xiaomi's target price by more than 10% due to profit margin pressures from rising memory chip prices [1] - The company is expected to report a 23% year-over-year revenue growth in its third-quarter earnings on November 18 [1]