Goldman Sachs: XIAOMI-WAI and overseas expansion of electric vehicles are highlights, rating "Buy"

Zhitong
2026.04.28 07:20

Goldman Sachs released a research report stating that Xiaomi Group-W held its 2026 Investor Day in Beijing yesterday (27th), outlining its strategy to respond to the dynamic and challenging market environment in the smartphone xAIoT sector. The bank believes that key highlights include Xiaomi's comprehensive AI strategy and a clear path for overseas expansion in electric vehicles. The bank set a target price of HKD 41 for Xiaomi, with a rating of "Buy." The bank mentioned that Xiaomi attributes its unique competitive advantage to its full-stack internal capabilities and cross-layer synergies in the era of intelligent agents, covering infrastructure (such as device-side chips), data (EB-level proprietary ecological data), models (such as MiMo), development frameworks (such as miclaw and Miloco), and application ecosystems (i.e., massive device agents spanning the "people x vehicle x home" ecosystem). Management anticipates potential AI monetization paths, including higher product pricing and subscription services for high-value scenarios, with the current paid user conversion rate reaching 35%

According to the Zhitong Finance APP, Goldman Sachs released a research report stating that Xiaomi Group-W (01810) elaborated on its strategies to cope with the dynamic and challenging market environment in the smartphone xAIoT sector during its 2026 Investor Day held in Beijing yesterday (27th). The bank believes that key highlights include Xiaomi's comprehensive AI strategy and a clear path for overseas expansion in electric vehicles. The bank set a target price of HKD 41 for Xiaomi and rated it as "Buy."

The bank mentioned that Xiaomi attributes its unique competitive advantage to its full-stack internal capabilities and cross-layer synergies in the era of smart agents, covering infrastructure (such as device-side chips), data (EB-level proprietary ecological data), models (such as MiMo), development frameworks (such as miclaw and Miloco), and application ecosystems (i.e., massive device agents spanning the "people x vehicle x home" ecosystem). Management anticipates potential AI monetization paths, including higher product pricing and subscription services for high-value scenarios, with the current paid user conversion rate reaching 35%

Source: Zhitong 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.