According to the Securities Times APP, Goldman Sachs released a research report stating that it reaffirmed a "buy" rating for Xiaomi Corporation-W (01810), with revenue forecast raised by 1% to 2% for 2024 to 2026, net income forecast increased by 11% to 18%, and target price raised from HK$23.2 to HK$24.7.

The bank stated that Xiaomi's second-quarter performance reflects the initial results of its smart life strategy, with impressive performance in the smart electric vehicle business. The group's overall revenue increased by 32% year-on-year to nearly 88.9 billion yuan, exceeding the market and the bank's forecasts by 3% to 4%. Adjusted net income also exceeded market and Goldman Sachs' forecasts by 27% to 38%.

The report mentioned that Xiaomi's innovative businesses such as smart electric vehicles generated revenue of 6.4 billion yuan, 14% higher than Goldman Sachs' forecast, with a segment gross margin of 15.4%, also higher than the industry average. Regarding the smart phone business, Goldman Sachs predicts that Xiaomi's shipments in the third and fourth quarters will reach 42.3 million units and 42.4 million units respectively, with an expected year-on-year growth of 1.2% to 0.167 billion units for the whole year.