Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>JPM: XIAOMI-W (01810.HK) Smartphone Growth Strong; NEV Shipments, GMs Hike
Recommend 20 Positive 41 Negative 7 |
||||
|
||||
|
XIAOMI-W (01810.HK) sent a number of positive messages to the market at the Investor Day, JPMorgan issued a research report saying. Electric vehicle (EV) momentum beats expectations, with positive gross profit margin (GPM) expected in 2024 and a possible 5-10% GPM in 2025, while operating expenses are also under control. XIAOMI-W expects smartphone sales to grow by around 10%, and average selling price (ASP) to continue to rise. While XIAOMI-W's GPM in its smartphone business may decline YoY, GPM for other businesses are likely to rise, JPMorgan said. JPMorgan kept rating at Overweight on the Group, with a target price of $21, on the back of strong EV momentum, an earlier-than-expected turnaround in GPM and a further upside expected in 2025. The Group's core earnings are resilient, providing strong cash flow support for EV expansion, according to JPMorgan. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
