Citi said in the report that Xiaomi Group's better-than-expected performance in the first quarter of 2024 was mainly due to strong IoT gross margins and reduced losses in the electric vehicle business. The bank raised the target price of Xiaomi's Hong Kong stock by about 2% and raised its electric vehicle shipment volume and gross margin estimates for this year and next two years. Analyst Kyna Wong and others pointed out in the report that the IoT business gross profit margin, overseas internet business revenue, and electric vehicle sales/gross margin are expected to be positive factors boosting Xiaomi's profits this year. The gross margin for 2024/25/26 electric vehicle shipments was raised to 120,000 units/230,000 units/300,000 electric vehicles to 8.2%/11.3%/11.9%, respectively. The target price of Xiaomi's Hong Kong stock was raised from HK$21.9 to HK$22.4.
花旗在报告中表示小米集团2024年一季度业绩好于预期主要得益于强劲的物联网业务毛利率和电动汽车业务亏损的减少。该行调升小米港股目标价约2%并上调今明两年电动汽车出货量及毛利率预估。分析师Kyna Wong等在报告中指出预计物联网业务毛利率、海外互联网业务收入和电动汽车销售/毛利率将成为提振小米今年利润的积极因素。将2024/25/26年的电动汽车出货量预估分别上调至12万辆/23万辆/30万辆电动汽车毛利率分别调至8.2%/11.3%/11.9%。小米港股目标价从21.9港元调升至22.4港元。
Citi said in the report that Xiaomi Group's better-than-expected performance in the first quarter of 2024 was mainly due to strong IoT gross margins and reduced losses in the electric vehicle business. The bank raised the target price of Xiaomi's Hong Kon
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