Xiaomi earnings report preview: Citigroup says the focus is on electric vehicles, smartphones, and IoT business

According to Jin10 Data on March 17, Citigroup analysts wrote in a recent report that Xiaomi Corporation (01810.HK) may keep its electric vehicle business on track in the fourth quarter of the electric vehicle market, with a gross margin of about 20% and a considerable order backlog. Investors are looking forward to seeing profitability progress in this segment and plans for new models. In terms of smartphones, Xiaomi may once again exceed market expectations in the fourth quarter, thanks to a favorable smartphone mix and government trade-in subsidies. Investors will closely monitor the company's revenue and gross margin in the smartphone sector, as it is the main revenue driver. In terms of the Internet of Things, with the help of government subsidy programs, Xiaomi's IoT division (including air purifiers, electric scooters, smart TVs, and other products) may generate revenue of 29.6 billion yuan in the fourth quarter