Futu news, $XIAOMI-W (01810.HK)$ The stock price reached a historical high, hitting 36.25 Hong Kong dollars, surpassing the three-year high of 35.9 Hong Kong dollars, with a total market capitalization exceeding 900 billion Hong Kong dollars; as of the time of writing, it has risen by 6.47% and is currently reported at 36.2 Hong Kong dollars, with a transaction volume of 4.625 billion Hong Kong dollars.

On December 28, XIAOMI Autos announced that the annual delivery volume of the XIAOMI SU7 exceeded 0.13 million units, successfully achieving all annual goals and receiving better-than-expected results and reputation. Lei Jun revealed during the New Year live broadcast that the delivery volume for XIAOMI Autos in 2024 has surpassed 0.135 million units, with car stores covering 58 cities nationwide, and more than 200 stores have opened. Furthermore, the XIAOMI SU7 Ultra will launch in March, and the XIAOMI YU7 will launch in June or July.

Morgan Stanley released a research report stating that XIAOMI Group's electric vehicle delivery volume in 2024 will exceed 0.135 million units, surpassing its annual delivery target. Due to the group's monthly delivery volume exceeding 0.025 million units in December last year, the company has raised its delivery target for 2025 to 0.3 million units, up from the previous target of approximately 0.25 million units. The firm believes that the group will continue to enhance automobile production capacity, hence the shipment target for 2025 may be further adjusted upward.

Morgan Stanley expects that in 2025, there will be positive changes in XIAOMI's product portfolio, which may drive average growth and better profitability for Autos. Additionally, the firm believes that XIAOMI's delivery volume in 2024 is stronger than expected, while the shipment target for 2025 is also high, indicating excellent execution capability in the new electric vehicle Business.

Citi released a report stating that XIAOMI-W will hold the All-Ecosystem Partnership Conference for Cars and Homes in Peking on December 27, 2024, reaffirming that the R&D expenditures for the next two years will be 24 billion and 30 billion yuan respectively, estimating that the R&D expenditures from 2022 to 2026 will exceed 100 billion yuan, mainly focused on AI, operating systems, and chip development.

The company also expects smart phone deliveries to reach 0.17 billion units this year, a 16% increase year-on-year, meeting expectations. Among these, high-end smart phone deliveries are expected to rise 43% year-on-year to 12 million units. The company aims to increase high-end smart phone sales by 10 million units every three to five years, reaching 30 million units sold within seven to eight years. The company has also launched a comprehensive ecosystem developer incentive program and disclosed that SU7 electric vehicle deliveries have exceeded 0.13 million units, compared to the predicted 0.131 million units. Currently, the company has opened 200 electric vehicle stores in 58 cities.

Editor/Rocky