Goldman Sachs released a research report stating that it believes that Xiaomi Group-W (01810.HK) has successfully penetrated the smart electric vehicle and high-end smartphone price range, as well as its cross-industry capabilities, to support the group in building a world-leading integrated technology platform. The bank was pleasantly surprised by Xiaomi's sales volume and profit margin for electric vehicles this year, as well as the model target for high-end smartphones; it reiterated its “buy” rating, with a target price of HK$20, and believed that its electric vehicle revenue and gross profit forecast had room for further improvement.