Xiaomi 1810

[winston]

not vested

Xiaomi Corp (1810 HK) 2Q24 Results Preview:

Expect Resilient Results; Downward Pressure On Margins

Xiaomi will report its 2Q24 earnings later this month.

We expect another set of resilient results, with adjusted net profit reaching Rmb5.0b, primarily driven by the continued recovery in smartphone shipments, robust sales and profitability in the AIoT business, and solid control of its operating expenses, although this will be partially offset by the rising component costs of smartphones.

Maintain BUY. Trim target price to HK$23.10.

Source: UOBKH

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

[winston]

Xiaomi Corp (1810 HK)

Recommendation : BUY
Fair Value : HKD 26.00

Strong execution in smart electric vehicles (EV).

• Stronger than expected EV gross profit margin (GPM) could drive profitability breakeven timeline earlier
• Smartphones continued to gain market share
• Encouraging outlook

Xiaomi is a technology product and services company founded in 2010, focusing mainly on smartphones, and Internet of Things (IoT) products and related internet services.

Apart from its home Chinese market, Xiaomi has expanded into other markets and has become the smartphone market leader in India and is gaining market share in Europe.

According to Canalys, Xiaomi ranked among the top 3 in the global smartphone market, in terms of smartphone shipments.

The company operates a distinctive business model by combining affordably-priced, high-quality smartphones and a smart IoT hardware product ecosystem with Internet services-based monetization.

Xiaomi’s strong cash flow should support its EV foray. Still, Xiaomi is likely to encounter headwinds from the overall macro weakness, as well as stiffer competition.

Source: OCBC

[winston]

not vested

Xiaomi Corp (1810 HK)

Recommendation : BUY
Fair Value : HKD 34.00

Encouraging growth outlook

Global smartphone shipments grew 5% year-on-year (YoY) in 3Q24

Xiaomi retained third place in the global smartphone market and advanced to fourth place in China

Xiaomi’s ecosystem strategy “Human x Car x Home” helps attract a broader and more stable consumer base

Xiaomi is a technology product and services company founded in 2010, focusing mainly on smartphones, and Internet of Things (IoT) products and related internet services.

Apart from its Chinese home market, Xiaomi has expanded into other markets and has become the smartphone market leader in India and is gaining market share in Europe.

According to Canalys, Xiaomi ranked among the top three in the global smartphone market, in terms of smartphone shipments.

The company operates a distinctive business model by combining affordably priced, high-quality smartphones and a smart IoT hardware product ecosystem with Internet services-based monetisation.

Xiaomi’s strong cash flow should support its electric vehicle (EV) foray. Still, Xiaomi is likely to encounter headwinds from the overall macro weakness, as well as stiffer competition.

Source: OCBC

[winston]

not vested

Broker│View

Macquarie│Growth in multiple businesses beat in 3Q with continued development; target price raised

BofA Securities│3Q results in line with a positive outlook; target price lifted

Citi│2024-2026 adjusted net profit forecasts and target price elevated

Nomura│Last quarter's revenue in line, while net profit beat

Goldman Sachs│3Q results strongly beat with surprising growth in internet and automotive businesses

CICC│Quarterly results beat, while automotive GPM improved QoQ

Daiwa│3Q earnings growth and EV GPM beat

Source: AAStocks Financial News

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

[winston]

Xiaomi Corp (1810 HK)

Recommendation : BUY
Fair Value : HKD 35.50

Strong 3Q24; EV margin another beat
• Strong growth momentum in core businesses
• Electric vehicles’ (EV) gross profit margin expanded to 17.1%
• EV delivery target raised to 130k in 2024 on strong execution and demand

Xiaomi is a technology product and services company founded in 2010, focusing mainly on smartphones, and Internet of Things (IoT) products and related internet services.

Apart from its Chinese home market, Xiaomi has expanded into other markets and has become the smartphone market leader in India and is gaining market share in Europe.

According to Canalys, Xiaomi ranked among the top three in the global smartphone market, in terms of smartphone shipments.

The company operates a distinctive business model by combining affordably priced, high-quality smartphones and a smart IoT hardware product ecosystem with Internet services-based monetisation.

Xiaomi’s strong cash flow should support its electric vehicle (EV) foray. Still, Xiaomi is likely to encounter headwinds from the overall macro weakness, as well as stiffer competition.

Source: OCBC

[winston]

not vested

Xiaomi Corp (1810 HK)
Recommendation : BUY
Fair Value : HKD 40.50

HIGHER EV SHIPMENT TARGET IN 2025

• Stronger-than-expected electric vehicle (EV) delivery in 2024 with higher shipment target in 2025
• Trade-in program in 2025 will expand its coverage to smartphone, tablet and smart watches

Xiaomi is a technology product and services company founded in 2010, focusing mainly on smartphones, and Internet of Things (IoT) products and related internet services.

Apart from its Chinese home market, Xiaomi has expanded into other markets and has become the smartphone market leader in India and is gaining market share in Europe.

According to Canalys, Xiaomi ranked among the top three in the global smartphone market, in terms of smartphone shipments.

The company operates a distinctive business model by combining affordably priced, high-quality smartphones and a smart IoT hardware product ecosystem with Internet services-based monetisation.

Xiaomi’s strong cash flow should support its EV foray. Still, Xiaomi is likely to encounter headwinds from the overall macro weakness, as well as stiffer competition.

Source: OCBC

[behappyalways]

Xiaomi's stock price skyrockets, Lei Jun suddenly becomes the richest man with a net worth of 1.99 trillion yuan

小米股價暴漲 雷軍1.99兆身價閃登陸首富｜TVBS新聞 ‪@TVBSNEWS02‬

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

[winston]

not vested

Xiaomi shares pricing ‘near-perfect execution’ after 300% rally

The company needs to show that its share performance is justified, amid market caution over the firm’s ability to execute lofty growth plans and maintain its sales trajectory

38 times forward earnings estimates, about double the level for Tencent Holdings and even above US giants including Apple.

The stock faces a nearer term challenge with results due Mar 18. Consensus is calling for 43 per cent growth in fourth-quarter sales, the highest in three years.

The average estimate for 12-month forward earnings per share has risen 18 per cent this year.

Source: SCMP

https://www.businesstimes.com.sg/compan ... -300-rally

[winston]

not vested

Xiaomi eyeing US$5.3b share sale as stock surges

Offering 750 million shares at HK$52.80 to HK$54.60 apiece. That's a discount of 4.2 percent to 7.4 percent versus the stock's last close of HK$57 in Hong Kong.

Plans to invest US$10 billion over the next decade into electric cars.

Source: Bloomberg

https://www.thestandard.com.hk/section- ... ock-surges