InvestIdeas

SU7 paint peeled off during delivery, Xiaomi was criticized for refusing to exchange the car and refund the money

SU7運送中就掉漆 小米拒換車退錢挨批｜TVBS新聞 @TVBSNEWS02

https://m.youtube.com/watch?v=318DlAxK4XM

Xiaomi Corp (1810 HK)
Stronger Confidence In EV Business After Investor Day And Factory Visit

We attended Xiaomi’s investor day and visited its EV production base in Beijing.

During the event, the company disclosed encouraging developments for the EV business, including: a) robust locked orders of 75,723 units,
b) full-year shipment target of 100,000 units,
c) better-than-expected gross margins of 5-10%, and
d) accelerated production ramp-up.

Maintain BUY and adjust target price to HK$21.00.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

by behappyalways:-

On average, a new car can be produced every 76 seconds! Xiaomi super factory exposed

平均每76秒可產一輛新車! 小米超級工廠曝光｜十點不一樣20240422

https://m.youtube.com/watch?v=W8imX9Nh0Mk

not vested

China’s Xiaomi keeps No 3 spot in global smartphone market in first quarter as Samsung tops Apple

Xiaomi smartphone shipments were up 33 per cent for the quarter to 40.7 million units, giving it 14 per cent of the global market

Xiaomi and Shenzhen-based Transsion were the only top-five brands to grow in the quarter, while headwinds for Apple pushed iPhone shipments down 16 per cent

by Kelly Le

Source: SCMP

https://www.scmp.com/tech/big-tech/arti ... pe=section

not vested

<Research>Haitong Int'l Hikes XIAOMI-W (01810.HK) TP to $24.2, Forecasts 1Q24 Adj, NP to Surge 71%

Haitong International commented in a report that XIAOMI-W's EV business is gaining visibility, benefiting from strong demand for the SU7 and the market's mid-term forecast for a new SUV model.

The broker expected XIAOMI to ship 100,000 and 200,000 EVs this year and next respectively.

Coupled with resilient margins, a stable smartphone business and a revival of the Internet of Things (IoT) business, Haitong hiked its 2024 and 2025 profit forecasts on XIAOMI by 25% and 26% respectively.

The broker accordingly lifted its target price from $18.6 to $24.2 and maintained its Outperform rating.

Haitong noted that due to the stronger-than-expected smartphone and IoT gross margins, the latter of which attributable to product mix, as well as lower operating expenses under cost control, XIAOMI's adjusted net profit is expected to surge 71% YoY to RMB5.5 billion in 1Q24.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

not vested

Xiaomi Corp (1810 HK)
1Q24 Results Preview: Expect Another Beat Driven by AIoT Business

Xiaomi will report its 1Q24 earnings in late-May.

We are expecting another set of strong results, with adjusted net profit set to grow 70% yoy and 12% qoq to Rmb5.5b.

This will be primarily driven by a solid recovery in smartphone shipments, robust sales and
margins at the AIoT business, as well as solid control on its operating expenses.

Maintain BUY. Raise target price to HK$22.80.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

not vested

Xiaomi doubles profit, raises EV delivery target

by Melody Chen

Xiaomi (1810) said its first-quarter net profit doubled to 6.49 billion yuan (HK$6.99 billion) on its growing smartphone business and the new electric vehicle maker raised its delivery goal to 120,000 vehicles this year.

The company's first smart electric vehicle Xiaomi SU7, has garnered 88,063 reservations as of April 30. It aims to deliver over 10,000 vehicles in the next month, with cumulative deliveries of new vehicles reaching 10,000 by May 15.

"The goal of delivering 100,000 units for the year can be ensured, so management has set a new target to challenge themselves with delivering 120,000 units annually," he added.

Xiaomi has already invested 4.7 billion yuan in smart driving, with an initial budget of 1.5 billion yuan for the new round of investment, which may be increased, Lu said.

Research and development expenditure were 5.2 billion yuan over the three months, up 25.4 percent from last year.

In SU7 user profiles, more than half were Apple product users, nearly 30 percent were female buyers and female car owners are estimated to comprise 40 to 50 percent of buyers.

Among the three released models - the Standard, Pro and Max - the Max version contributed the largest share of sales at over 40 percent, while the other two models each accounted for nearly 30 percent, Xiaomi said.

Revenue increased by 27 percent from last year to about 75.5 billion yuan in the first three months of 2024.

Over 60 percent of revenue came from its smartphone business, up by 32.9 percent from last year to 46.5 billion yuan, with sales volume reaching 40.6 million units, a 33.7 percent annual increase.

Internet business revenue hit a new high at 8 billion yuan, growing by 14.5 percent annually.

The Internet of Things and lifestyle consumer products business generated 20.4 billion yuan, rising by 21percent, and is anticipated to sustain growth in the coming years, with significant growth potential overseas.

In other news, Xiaomi denied a report that it has given up a site in Shanghai and will suffer a loss of as much as 1.55 billion yuan, according to mainland media.

Source: The Standard

https://www.thestandard.com.hk/section- ... ery-target

Xiaomi Corp (1810 HK)
1Q24: Strong Beat On IoT Margins; EV Shipment Target Raised

Xiaomi’s 1Q24 surprised on the upside, with adjusted net profit 18% above our estimate, driven by a surprise in the IoT business’ margins, as well as a stronger-than expected revenue for the internet service segment.

For 2024, Xiaomi now targets to ship 120,000 units of EVs, and aims to improve its margins through product mix improvements.

Maintain BUY. Target price: HK$23.80.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

not vested

1Q24 adjusted net profit ahead; expect Xiaomi 14 series’ robust local sales to replicate in overseas markets

1Q24 revenue rose 11% y/y to RMB76bn, driven by strong smartphone shipment growth

Adj. earnings jumped 101% y-o-y, ahead of consensus, driven by stronger-than-expected gross margin expansion

Expect earnings growth to accelerate to 20% in FY25, driven by solid overseas smartphone sales and internet service growth

Maintain BUY with TP of HKD23.0 on stronger-than-peers’ smartphone shipment growth

Source: DBS

https://www.dbs.com/insightsdirect/comp ... ecid=19729