Gelonghui, November 20 | Jianyin International published a research report indicating that Xiaomi performed well in the third quarter, with revenue and non-GAAP net profit increasing by 30% and 4% year-on-year, reaching 92.51 billion yuan and 6.25 billion yuan, respectively. The company reached its shipping target of 0.1 million units for the SU7 model in November and has raised its annual delivery target to 0.13 million units. The report noted that Xiaomi's smart phone business is strong, with third-quarter revenue increasing by 14% year-on-year, and an expected annual delivery growth of 16%, exceeding the company's guidance upper limit of 14%. Additionally, the company is expected to further increase its global market share next year, with projected delivery growth of 5% and gross margin remaining stable. The report stated that the internet of things business will continue its strong performance, with sales growth expected at 23% and 10% year-on-year for this year and next, while the internet business should stabilize. Jianyin International raised its non-GAAP net profit forecast for the company for this year through 2026 by 5%, 5%, and 6%, and anticipates SU7 deliveries of 0.13 million units and 0.24 million units for this year and next, with average selling prices of 0.238 million yuan and 0.24 million yuan, respectively. The bank raised the company's target price from 31 HKD to 33 HKD, maintaining an "outperform the market" rating.