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<Research>CLSA Expects XIAOMI-W 3Q Adj. NP to Spike 60%; EVs Still the Bright Spot
Recommend 43 Positive 80 Negative 20 |
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CLSA has released a report predicting XIAOMI-W (01810.HK)'s 3Q25 total revenue/ adjusted net profit to grow by 22%/ 60% YoY to RMB112.9 billion/ RMB10 billion on the support of robust electric vehicle (EV) sales. Due to a decline in shipments to China and India, XIAOMI-W's smartphone revenue may decrease by 3% YoY, while its AIoT business may see its growth rate slow to 5% YoY because of reduced trade-in subsidies. However, XIAOMI-W may have reached a break-even point for its EV business, as EV deliveries have further increased to 109,000 units, with an average price of around RMB260,000. XIAOMI-W's second EV factory has been approved for production, which will serve as a catalyst for a stock price revaluation. CLSA kept a High-Conviction Outperform on the carmaker, with a target price of HKD69. AAStocks Financial News |
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