Citigroup released a research report, giving a 'buy' rating, looking forward to the stock price being supported by a robust core profit outlook and improving gross margin of electric vehicles, with a target price of HK$22.7, considering the valuation level to be reasonable. $XIAOMI-W (01810.HK)$ Citigroup released a research report, giving a 'buy' rating, looking forward to the stock price being supported by a robust core profit outlook and improving gross margin of electric vehicles, with a target price of HK$22.7, considering the valuation level to be reasonable.

The report states that the group announced that Xiaomi SU7's delivery volume in August exceeded 0.01 million vehicles, making it the third consecutive month to exceed 0.01 million vehicles. It maintains the expectation that the full-year target of delivering 0.1 million vehicles can be achieved in November. Citigroup believes that Xiaomi has already reached more than 50% of its target delivery volume of 0.1 million vehicles this year, or approximately 45% of its target delivery volume of 0.12 million vehicles. The group plans to add 16 new stores in September and reveals that SU7 orders are continuously increasing. Currently, the proportions of SU7, SU7 Max, and SU7 Pro orders are approximately 30%, 30%, and 40% respectively.