In a report released yesterday, Alex NG from CMB International Securities reiterated a Buy rating on Xiaomi, with a price target of HK$61.30.
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Alex NG has given his Buy rating due to a combination of factors influencing Xiaomi’s financial outlook. The company is anticipated to report robust growth in adjusted net profit for the third quarter of 2025, driven primarily by the strong performance of its smart electric vehicle (EV) segment, which is showing improved profitability. Additionally, Xiaomi’s Internet of Things (IoT) and internet businesses are maintaining stable growth, despite some challenges in the smartphone sector due to rising bill of materials costs.
Looking ahead to the fourth quarter, Alex NG remains optimistic about Xiaomi’s prospects. The smartphone segment is expected to benefit from the launch of new models like the Xiaomi 17 Pro and Pro-max, along with promotional activities during the Double 11 shopping festival. The smart EV business is also poised for strong delivery numbers and potential capacity expansion, while the internet segment is projected to sustain its growth. These factors, combined with strategic initiatives such as premiumization and new retail strategies, underpin the Buy rating with a target price of HK$61.3.
In another report released yesterday, CGS-CIMB also reiterated a Buy rating on the stock with a HK$77.00 price target.