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<Research>G Sachs Keeps Buy on XIAOMI-W, Envisions Core Profit to Provide Cushion for Earnings
Recommend 8 Positive 14 Negative 9 |
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According to a report from Goldman Sachs, XIAOMI-W (01810.HK)'s 4Q25 results were largely in line with expectations. The company's revenue grew by 7% YoY, slightly above the broker's forecast by 1%, while the adjusted net profit fell by 24% YoY, consistent with market forecasts. Goldman Sachs has slightly lowered its 2026-28 revenue and adjusted net profit forecasts for XIAOMI-W by 1-2%. In its opinion, XIAOMI-W's core profit, including revenue from internet services, AIoT, and others, should provide a cushion for the group's profitability to cope with the adverse industry environment this year. XIAOMI-W's core profit is estimated to reach RMB33.6 billion in 2026, equivalent to 110% of the group's adjusted net profit of RMB30.2 billion. Goldman Sachs has kept a Buy rating on XIAOMI-W, with a 12-month target price of HKD41. AAStocks Financial News |
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