Goldman Sachs issued a research report on XIAOMI-W (01810.HK) -0.520 (-1.821%) Short selling $2.09B; Ratio 30.107% , of which 1Q results were largely in line. Revenue fell 11% YoY during the period, while adjusted net profit declined 43% YoY. The broker noted that the company permanently reduced the API pricing of its MiMo-V2.5 model to a globally competitive low level, demonstrating ambition to expand MiMo inference token usage and extend its leadership among global LLMs. Goldman Sachs maintained its Buy rating on XIAOMI-W and lowered its 12-month TP from HKD41 to HKD40, implying 34% upside. Taking into account lower EV gross margins following the launch of the new SU7 model and the new standard version of YU7, as well as increased AI investment, the broker cut its 2026-28 adjusted EPS forecasts by 6%, 3% and 2%, respectively. Goldman Sachs estimated XIAOMI-W's 2026 "backbone profit" at RMB32.8 billion, down 12% YoY. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-29 16:25.)Related News Jefferies Downgrades XIAOMI-W (01810.HK) to Underperform, Cuts TP to HKD25.49
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