Core Viewpoint - Xiaomi's stock price is currently facing short-term pressure, with key support levels identified at 47.2 HKD, 44.2 HKD, and 40.8 HKD, while resistance levels are at 53.1 HKD and 55.6 HKD. The market sentiment appears slightly optimistic with a 53% probability of short-term price increase [1]. Technical Analysis - The stock closed at 48.65 HKD, with a potential drop to 47.2 HKD being a critical level to watch [1]. - Technical indicators show a bearish crossover with the 10-day moving average (50.11 HKD) falling below the 30-day moving average (46.86 HKD) [1]. - The Relative Strength Index (RSI) is at 53, indicating a neutral position, while the MACD shows a buy signal but with weakening momentum [1]. - The stock's volatility is at 10.9%, suggesting significant price fluctuations recently [1]. - Current technical signals include 9 sell signals, 8 neutral signals, and 11 buy signals, leading to an overall "buy" recommendation [1]. Derivative Instruments - For bullish investors, options such as the Morgan Stanley call option (14642) with a strike price of 55.05 HKD and a leverage of 5.6 times are recommended [6]. - UBS call option (14991) has similar terms with a leverage of 5.3 times [6]. - For bearish strategies, HSBC bear certificate (61377) offers an 8 times leverage, while Societe Generale bear certificate (61240) provides an 8.4 times leverage [9]. Market Sentiment - The market is currently observing a mixed performance in derivative products, with HSBC bear certificates rising by 61% and Societe Generale bear certificates increasing by 53% during a 5.26% drop in stock price [3].

Investment Rating - The report does not explicitly state an investment rating for the industry or specific companies [1]. Core Insights - The report highlights a significant increase in social financing in China, with an increment of 16.34 trillion yuan in the first four months of the year, which is 3.61 trillion yuan more than the same period last year [3]. - The broad money supply (M2) reached 325.17 trillion yuan, reflecting an 8% year-on-year growth, while the narrow money supply (M1) increased by 1.5% to 109.14 trillion yuan [3]. - A reduction in the reserve requirement ratio by 0.5 percentage points is expected to inject approximately 1 trillion yuan of long-term liquidity into the market [3]. - The establishment of a "National Venture Capital Guidance Fund" aims to support high-level technological self-reliance and innovation [3]. Summary by Sections Market Performance - The Hang Seng Index closed at 23,640.65, up by 2.30% [2]. - The US Dow Jones Index decreased by 0.21% to 42,051.06, while the Nasdaq Index increased by 0.72% to 19,146.81 [2]. Company News - Tencent reported a net profit of 478.21 billion yuan for the first quarter, marking a 14.2% year-on-year increase [5]. - Weida's annual revenue was reported at 2.177 billion USD, a 1.5% increase year-on-year, while net profit decreased by 5.9% to 157 million USD [5]. - The demand for storage chips has surged, leading to rapid growth in the packaging substrate business [5].