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<Research>G Sachs Expects XIAOMI-W 1Q Total Revenue -12% YoY; Smart EV/ New Businesses as Growth Drivers
Goldman Sachs, in its report, reduced its total revenue forecasts for XIAOMI-W (01810.HK) for 2026-28 by 1-4%, primarily on lower revenue from smart EV and other initiatives, while...
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<Research>G Sachs Expects XIAOMI-W 1Q Total Revenue -12% YoY; Smart EV/ New Businesses as Growth Drivers
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Goldman Sachs, in its report, reduced its total revenue forecasts for XIAOMI-W (01810.HK)  -0.080 (-0.252%)    Short selling $838.04M; Ratio 16.151%   for 2026-28 by 1-4%, primarily on lower revenue from smart EV and other initiatives, while maintaining revenue from Smartphone x AIoT segment largely intact.

Although the gross margin forecast was raised by 0.3-0.5 ppts, the broker cut its 2026-28 non-IFRS EPS forecasts by 2-5% as profit contribution from smart EV and other new businesses is expected to subside. The TP was kept at HKD41 with a Buy rating.

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For 1Q26 outlook, the broker estimated XIAOMI-W's total revenue to sag 12% YoY to RMB98 billion. The estimated adjusted net profit for 1Q26 was expected to decline by 49% YoY to RMB5.4 billion.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-14 16:25.)

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