Goldman Sachs released a research report sayingchippoker, believes that Xiaomi Group-W (01810) has successfully penetrated into the price domain of smart electric vehicles and high-end smart phones, as well as its cross-industry capabilities, supports the Group in building a world-leading integrated technology platform. The bank was pleasantly surprised by Xiaomi's electric vehicle sales and profit margins this year, as well as its high-end smartphone model targetschippoker; reiterated its "buy" rating with a target price of HK$20, and believed that there was room for further upside in its electric vehicle revenue and gross profit forecasts.
The bank pointed out that Xiaomi's guidance is that as of the end of this year, the delivery of electric vehicles can reach more than 100,000 units, with a gross profit margin of 5 to 10%, reflecting both positive unit economy and operating leverage. The group expects revenue this year to exceed 300 billion yuan (RMB. The same below), mobile phone shipments increased by 15 to 20 million units year-on-year, and overall R & D expenditure increased by 26% year-on-year to 24 billion yuan. It is planned to open 10,000 new Xiaomi Home stores from 2024 to 26.