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<Research>BOCI Foresees XIAOMI-W's Adj. NP at RMB5.5-6B Last Qtr
Recommend 18 Positive 28 Negative 16 |
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BOCI has released a report predicting that XIAOMI-W (01810.HK)'s 4Q25 revenue will have grown by only 8% YoY or 4% QoQ to RMB117.6 billion in 4Q25, affected by weak smartphone shipments and a noticeable weakness in the IoT business, partially offset by resilient sales of electric vehicles (EVs). Meanwhile, XIAOMI-W's overall gross margin is expected to contract by 2 ppts from 22.9% in 3Q25 due to rising memory prices, IoT promotions, and a deteriorating EV product mix, despite stable profitability in the internet services segment. Considering increased year-end operating expenses and reduced investment gains, BOCI estimates XIAOMI-W's 4Q25 adjusted net profit to have reached RMB5.5-6 billion. BOCI has kept a Buy rating and a target price of HKD47.88 on XIAOMI-W. AAStocks Financial News |
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