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<Research>BOCI Keeps Buy on XIAOMI-W with TP HKD47.88
Recommend 43 Positive 80 Negative 23 |
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In January, XIAOMI-W (01810.HK) delivered over 39,000 electric vehicles, up 70% YoY but down 20% MoM, a performance that was still better than that of its peers mainly due to the YU7 reserved orders and the launch of financial promotional schemes, according to BOCI's report. Considering a steep decline in the proportion of the high-margin SU7-ultra models, XIAOMI-W is estimated to see its 4Q25 gross profit margin decrease by 1-2 ppts QoQ, though the growing revenue and economies of scale should continue pushing up operating profit QoQ. BOCI has set its target price for XIAOMI-W at HKD47.88 and kept the Buy rating unchanged, citing that the company's continuous investment and potential return expectations in AI large models, robots, and chips will support the current valuation. AAStocks Financial News |
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