Minsheng Securities: Maintains "Recommended" Rating for Xiaomi Corporation-W, Series 17 Cross-Generational High-End Upgrade

Zhitong
2025.09.30 03:57
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Minsheng Securities maintains a "Buy" rating on Xiaomi Corporation-W, expecting operating revenues of 509.295 billion, 640.908 billion, and 749.653 billion yuan for 2025-2027, with net profits attributable to the parent company of 44.441 billion, 64.047 billion, and 81.832 billion yuan. The high-end transformation of the Xiaomi 17 series is expected to boost sales, and the customized automotive services will improve profit margins. On September 25, Xiaomi launched the Xiaomi 17 series and other new products, featuring new technologies and high-performance processors, with excellent battery life

According to Zhitong Finance APP, Minsheng Securities released a research report maintaining a "Recommended" rating for Xiaomi Corporation-W (01810), expecting the company to achieve operating revenues of 509.295 billion, 640.908 billion, and 749.653 billion yuan for the years 2025-2027, and net profits attributable to the parent company of 44.441 billion, 64.047 billion, and 81.832 billion yuan. The firm is optimistic about the high-quality, cost-effective Xiaomi 17 series, which is expected to achieve good sales and assist Xiaomi's high-end transformation. Additionally, as Xiaomi's customized automotive services unfold, this service is expected to enhance the profit margins of its automotive business and boost the company's profits.

On September 25, Xiaomi held Lei Jun's annual speech and new product launch event, introducing the Xiaomi 17 series, Xiaomi Pad 8 series, and a series of new products including the Xiaomi TV SPro Mini LED 2026, Mijia Refrigerator Pro, and Mijia Three-Zone Washing Machine Pro. Furthermore, Xiaomi launched automotive customization services, providing unique and carefully designed options for car owners.

The report states that the Xiaomi 17 series has been fully upgraded, with new technology supporting its high-end transformation. The starting price for the Xiaomi 17 is 4,499 yuan, featuring a new M10 luminous material 6.3-inch OLED screen. In terms of performance, it is equipped with the new fifth-generation Snapdragon 8 Supreme Edition processor, utilizing third-generation 3nm process technology, with a 20% performance improvement compared to the previous generation, a 37% increase in AI performance, and a 16% improvement in AI efficiency. For battery life, it features a 7000mAh Xiaomi Jinsha River battery, supporting 100W limited fast charging and 50W wireless flash charging.

The firm indicated that the Xiaomi 17 Pro and Xiaomi 17 Pro Max are priced starting at 4,999 and 5,999 yuan respectively, and for the first time, they adopt heterogeneous stacked battery technology. All batteries in the series are designed for a five-year lifespan, and with the support of Xiaomi's Surge/G2 power management chip, the battery capacity remains above 80% after 2000 complete charge-discharge cycles

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