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<Research>JPM Expects XIAOMI-W (01810.HK) 1Q Adj. NP to Beat; Rating Neutral
Recommend 16 Positive 35 Negative 10 |
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XIAOMI-W (01810.HK) is about to announce its results for 1Q26, JP Morgan said in its report. The broker expected overall adjusted net profit to beat expectations, helped by better smartphone and IoT gross margins, despite a marked YoY slump in revenue from smartphones and EV businesses. In terms of EV deliveries, XIAOMI-W delivered a total of about 110,000 units as of April, representing only 20% of its full-year target of over 550,000 units. To meet the target, monthly deliveries would need to exceed 55,000 units for the remaining months. In JP Morgan's view, considering production capacity constraints, the risk of a downward revision to the full-year EV delivery guidance is ascending, and investors should keep tabs on whether EV deliveries can accelerate in 2Q. The broker maintained its Neutral rating on XIAOMI-W, and set a TP of HKD35. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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