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<Research>UBS Drops XIAOMI-W (01810.HK) TP to $60, Reiterates Rating at Neutral
Recommend 13 Positive 25 Negative 14 |
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XIAOMI-W (01810.HK) sold 41 million smartphones in 2Q25, up 0.5% YoY and 1.5% QoQ, UBS released a research report saying. Of which, in China, sales grew by 8% YoY, driven by subsidies and the 618 shopping festival. Benefiting from market share gain in emerging markets and China's mid-to-high-end market, XIAOMI-W's total annual sales are expected to reach 175 million units. Due to the price drop from the 618 promotion in China and the expansion of emerging market contributions offsetting the ongoing premiumization, 2Q25 smartphone gross profit margin is expected to be roughly flat QoQ at 11.6%. UBS lowered its 2Q25/ full-year earnings forecasts for the Group by 10.4%/ 5.5% each, and dropped its target price from $62 to $60, with rating kept at Neutral. AASTOCKS Financial News Website: www.aastocks.com |
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