XIAOMI-W (01810.HK)  +0.200 (+0.376%)    Short selling $1.74B; Ratio 16.225%   will release its 1Q25 earnings next Tuesday (27th). As surveyed by Canalys, Xiaomi shipped 41.8 million smartphones globally in 1Q, up 3% YoY, with 13.3 million units shipped in China, up 40% YoY, securing a 19% market share in China and 14% globally.

Boosted by subsidy policies for smartphones and IoT products, as well as electric vehicle (EV) sales (expected to contribute over RMB18 billion in revenue), 10 brokers predicted Xiaomi’s 1Q non-IFRS adjusted net profit to range between RMB9.113 billion and RMB9.933 billion, up 40.4%-53% YoY from RMB6.491 billion, with a median of RMB9.727 billion, up 49.8% YoY.

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The market will focus on Xiaomi’s recent EV order volumes, the launch of the YU7 EV, AI smart glasses, and new smartphone sales performance. Moreover, attention will be on how Xiaomi’s new inference model, Xiaomi MiMo, enhances the synergy of its “Human x Car x Home” ecosystem.

Based on forecasts from 10 brokers as compiled by our website, Xiaomi's non-IFRS adjusted net profit for 1Q25 was expected to be between RMB9.113 billion and RMB9.933 billion, up 40.4%-53% YoY from RMB6.491 billion. The median was RMB9.727 billion, up 49.8% YoY.

Brokers│1Q25E Non-IFRS adjusted net profit (RMB)│YoY change
CICC│9.933 billion│+53.0%
CMBI│9.92 billion│+52.8%
JPMorgan│ 9.785 billion │ +50.7%
Citi│9.771 billion│+50.5%
Jefferies│9.749 billion│+50.2%
BOCI│9.704 billion│+49.5%
HTSC │ 9.568 billion│ +47.4%
Guotai Haitong Securities │ 9.475 billion│ +46%
Daiwa│9.249 billion│+42.5%
CCBI│9.113 billion│+40.4%
Calculated based on Xiaomi's non-IFRS adjusted net profit of RMB6.491 billion in 1Q24
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-22 16:25.)

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