CICC: Lowers Xiaomi Corporation-W target price to HKD 70, maintains "Outperform Industry" rating
CICC released a research report stating that it expects Xiaomi Corporation-W's revenue in the second quarter of 2025 to reach RMB 117.97 billion, a year-on-year increase of 32.71%, with an adjusted net profit of RMB 10.18 billion, a year-on-year increase of 64.84% (including a loss of RMB 360 million from electric vehicles and innovative businesses). The profit forecast remains largely unchanged, with the current stock price corresponding to adjusted net profit price-to-earnings ratios of 26.5 times and 19.3 times for 2025 and 2026, respectively. Considering the downward shift in industry valuation, the firm has lowered Xiaomi's target price by 9% to HKD 70, corresponding to price-to-earnings ratios of 34.4 times and 25.1 times for 2025 and 2026, respectively, with a potential upside of 29.6%, maintaining an "outperform the industry" rating
According to the Zhitong Finance APP, China International Capital Corporation (CICC) released a research report stating that it expects Xiaomi Corporation (01810) to achieve revenue of RMB 117.97 billion in the second quarter of 2025, a year-on-year increase of 32.71%, with an adjusted net profit of RMB 10.18 billion, a year-on-year increase of 64.84% (including a loss of RMB 360 million from electric vehicles and innovative businesses). The profit forecast remains largely unchanged, with the current stock price corresponding to adjusted net profit price-to-earnings ratios of 26.5 times and 19.3 times for 2025 and 2026, respectively. Considering the downward shift in industry valuation, the firm has lowered Xiaomi's target price by 9% to HKD 70, corresponding to price-to-earnings ratios of 34.4 times and 25.1 times for 2025 and 2026, respectively, with a potential upside of 29.6%, maintaining an "outperform the industry" rating
