Dahua Jixian released a research report sayinggovernorofpoker2download, maintain Xiaomi Group-W (01810)"Buy" rating, and increase its net profit forecast from 2024 to 2026 by 14governorofpoker2download.3%、3governorofpoker2download.3% and 3% to reflect highergovernorofpoker2downloadIts first-quarter forecast and the estimated core business will perform better in cost control, the target price will be raised from HK$21 to HK$22.8.
The report said that Xiaomi will announce its first-quarter results later this month, and its performance is expected to continue to be strong. Adjusted net profit will increase by 70% year-on-year and 12% quarter-on-quarter to RMB 5.5 billion, mainly due to the recovery of smartphone shipments. Driven by strong sales and profit margins of the Internet of Things, as well as stable control of operating expenses.
The bank pointed out that Xiaomi's smartphone business will not have much surprises. It is estimated that the average selling price will be stable. The Internet of Things business will benefit from sales of household goods and tablets. The performance of Internet services will remain stable in the first quarter. In terms of automobiles, the benefits provided by SU7 The margin has decreased, but lock-in orders continued to grow in May, which is a promising signal.