Daiwa Capital Markets lowered the target price for Xiaomi to 54.6 yuan, maintaining a "Buy" rating

AASTOCKS
2025.11.19 02:37

Daiwa Capital Markets published a report stating that Xiaomi Corporation-W (01810.HK) reported third-quarter revenue of RMB 113.1 billion, a year-on-year increase of 22.3% and a quarter-on-quarter decrease of 2.4%, slightly lower than the firm's estimate but slightly higher than the market estimate of RMB 112.5 billion. The main reason for not meeting the firm's expectations was that the IoT business revenue was below expectations, while revenue from other businesses was generally in line with expectations.

The report indicated that Xiaomi has ensured sufficient memory supply for 2026, while focusing on high-end devices to alleviate the pressure from rising memory prices. The electric vehicle business has achieved profitability, with shipments expected to exceed 400,000 units in 2025. The next phase of growth for the IoT business will depend on expansion into overseas markets. The rating is maintained at "Buy," with the target price adjusted from HKD 65.2 to HKD 54.6

Source: AASTOCKS The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.