zyngapokerdownloadforpc| Xiaomi Group opened higher and moved higher, and its growth expanded to 7%. CICC is optimistic about the long-term growth space of its automobile business

May 8 newszyngapokerdownloadforpc, Xiaomi Group opened high and went high, and its growth rate expanded to 7%, now at 19zyngapokerdownloadforpc.2 Hong Kong dollars, with a turnover exceeding HK$2.7 billion.

According to a research report issued by China International Capital Corporation, it is expected that Xiaomi Group's adjusted net profit for 1Q24 will increase by 70.7% year-on-year to 5.521 billion yuan. The bank pointed out that 1Q24 smartphone shipments grew strongly, and the price increase of materials and components caused a month-on-month decline in gross profit margins.

In terms of the automobile business, the minimum vehicle delivery target in 2024 is 100,000, which is optimistic about the long-term growth space of the automobile business. Looking to the future, the bank expects Xiaomi Automobile to continue to improve its delivery capabilities and gross profit margins, and is optimistic about the growth space of automobiles under the "full ecosystem of people, vehicles and homes" strategy.

The bank introduced a new forecast for the company's automobile business, and also considered that Xiaomi Automobile's delivery targets and gross profit margin exceeded market expectations, raised the adjusted net profit for 2024/2025 by 9.0%/33.7% to 16.512 billion yuan/17.498 billion yuan. Maintaining an outperforming industry rating, based on confidence in the long-term growth of the company's automotive business, the target price was raised by 27.8% to HK$23.0 (SOTP valuation).