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<Research>G Sachs: XIAOMI-W (01810.HK) SU7 Pro/Max Waiting Times Shorten; Continued Output Expansion Demonstrates Excellent Execution
Recommend 19 Positive 33 Negative 10 |
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XIAOMI-W (01810.HK) substantially shortened the expected waiting times for its SU7 Pro and SU7 Max to 6-9 weeks from approx. 30 weeks a week ago and 34 weeks a month ago, according to Goldman Sachs' research report. The estimated waiting time for the base SU7 model remained unchanged at around 30 weeks. In other words, consumers who have ordered the SU7 Pro/Max are likely to receive their vehicles by the end of 2025, before China's 2026 EV purchase tax comes into effect. Goldman Sachs believed that the shortened delivery cycle for XIAOMI-W's SU7 Pro/Max demonstrates the Company's sustained and robust execution in enhancing manufacturing capabilities. This validates Goldman Sachs' prior view that the tax subsidy announced on 24 October reflects XIAOMI-W's confidence in its manufacturing output increase. Therefore, the broker kept rating at Buy for XIAOMI-W, with a 12-month target price of $56.5. Whilst Goldman Sachs anticipated near-term resistance for the share price, the broker viewed the risk-reward profile as attractive over a 12-month basis, with a positive skew between its optimistic valuation ($67.4) and pessimistic valuation ($39). AAStocks Financial News Website: www.aastocks.com |
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