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<Research>BOCOMI Lowers XIAOMI-W's TP to HKD50; Mobile Biz Damaged by Storage Price Rise
Recommend 22 Positive 22 Negative 22 |
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XIAOMI-W (01810.HK)'s auto business achieved earnings in 3Q25 for the first time ever, while its mobile business was hit by rising storage prices, according to a BOCOMI report. Specifically, XIAOMI-W's first-ever quarterly automotive operating income reached RMB700 million. In contrast, its smartphone GPM was squeezed by an increase in storage prices, slipping by 0.4 ppts QoQ to 11.1%. The current round of storage price increases may exceed the expectations of BOCOMI and the market in terms of both time and magnitude. BOCOMI cut its target price for XIAOMI-W to HKD50 but kept the Buy rating unchanged. AAStocks Financial News |
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