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<Research>Daiwa Cites XIAOMI-W (01810.HK): CN Smartphone Mkt Expected to Contract at Least 10% This Yr; EV Overseas Expansion Timeline Revealed
Recommend 9 Positive 17 Negative 10 |
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XIAOMI-W (01810.HK) held its Investor Day yesterday (27th), during which management team shared insights across businesses and financial conditions, Daiwa issued a research report saying. The broker was impressed by the Company's timeline for overseas EV expansion and the pace of AI capability development, despite near-term macro headwinds, particularly challenges arising from structural cost increases in smartphones. Therefore, Daiwa rated XIAOMI-W at Buy. Storage chip costs are about 5x of those in 1Q25 (i.e., a 4x increase) and are expected to persist beyond 2027, the report quoted management as saying. The Company expected China's smartphone market to decline at least 10% YoY in 2026, with the extent of the decline depending on consumer response to price hikes and further downside risk. Regarding EVs, management said the facelifted SU7 performed well in the market, with locked orders exceeding 63,000 units as of Tuesday (26th), and more than 26,000 units delivered within about one month of launch. XIAOMI-W planned to launch its smart EVs overseas in 2H27, starting with Europe, followed by right-hand-drive markets in 1H28. Auto-translated by AI AASTOCKS Financial News |
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