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01810
XIAOMI-W
HKD
35.1800.260
(0.74%)
1D
AI Analysis for 01810
AI Analysis
High
35.480
Open
34.320
VWAP
35.14
Vol
134.24M
Mkt Cap
1.09T
Low
34.300
Amount
4.72B
EV/EBITDA(TTM)
17.54
Total Shares
26.05B
EV
106.14B
EV/OCF(TTM)
13.32
P/S(TTM)
1.88
Xiaomi Corp is an investment holding company primarily engaged in the research and development, and sales of smartphones, Internet of Things (IoT), and consumer products. The Company operates through two main segments. The Smartphone and Artificial Intelligence Internet of Things (AIoT) segment, which primarily sells smartphones, smart large home appliances, smart TVs, tablets, wearables and other IoT and lifestyle products, providing advertising services and Internet value-added services (including online games and fintech), hardware repair services, installation services for certain IoT products and material sales. The Smart Electric Vehicles (EV) and Other New Initiatives segment primarily engages in the sales of smart EV and other new initiatives. The Company operates in both the domestic and overseas markets.
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News
4.5
02-06aastocksHKD4.3 Billion Net Inflow from Southbound Trading into TENCENT
Southbound Trading Inflows: TENCENT (00700.HK) saw significant Southbound Trading net inflows totaling HKD4.3 billion, while other stocks like BABA-W (09988.HK) and POP MART (09992.HK) experienced notable short selling activity.
Market Activity Overview: TENCENT was the most active stock in both Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect, with substantial net inflows, while stocks like XIAOMI-W and AKESO faced the highest net outflows.
Short Selling Statistics: The short selling ratios for TENCENT, BABA-W, and POP MART were 15.248%, 19.556%, and 27.852% respectively, indicating a high level of market speculation.
Overall Market Sentiment: The total Southbound Trading net outflow was HKD0, accounting for 35.67% of the total transaction amount of HKD88.42 billion, reflecting fragile market sentiment according to JPM.
2.0
02-06aastocksShort Selling Activity Reaches $47.7B, Representing 22.1% of Eligible Securities Turnover at Market Close
Short Selling Turnover: The short selling turnover in the Hong Kong market reached $47.7 billion, accounting for 22.1% of the eligible securities turnover, slightly down from 23% on the previous trading day.
Top Short Selling Stocks: The top five stocks with the highest short selling amounts include CSOP HS TECH, TENCENT, BABA-W, XIAOMI-W, and MEITUAN-W, with CSOP HS TECH leading at $7.79 billion and a short selling ratio of 66.7%.
CSOP HS TECH Performance: CSOP HS TECH (03033.HK) experienced a decrease of 0.947%, with a significant short selling turnover of $7.79 billion and a high short selling ratio of 66.7%.
Other Notable Stocks: TENCENT, BABA-W, XIAOMI-W, and MEITUAN-W also showed notable short selling activity, with TENCENT at $2.97 billion and a ratio of 15.2%, while MEITUAN-W had a turnover of $961.98 million and a ratio of 26.6%.
4.5
02-06aastocksHSI Drops 325 Points or 1.2% as AIA Declines Over 5%; NIO-SW Rises Approximately 7%
Market Performance: The HSI fell 325 points (1.2%) to close at 26,559, with the HSCEI and HSTECH also experiencing declines of 0.7% and 1.1%, respectively, amid a total market turnover of $247.865 billion.
Financial Sector Decline: Major financial stocks like HSBC and AIA saw significant drops of 2.7% and 5.5%, respectively, with short selling ratios indicating increased bearish sentiment.
Volatile Commodities Market: The commodities sector faced volatility, with stocks like CHI SILVER GP and MMG declining over 3%, while jewelry stock LAOPU GOLD also lost 2.32%.
Automakers' Gains: In contrast, automakers such as BYD and NIO saw gains, with NIO rising 6.9% after announcing its first profit, while battery stock CATL increased by 1.8%.
6.5
02-06aastocksCiti Anticipates Higher Commodity Prices Will Favor Basic Materials While Straining Auto and Mid-Tier Battery Firms
Commodity Price Impact: Commodity prices have risen significantly, benefiting the basic materials sector in China, particularly suppliers of aluminum, copper, and lithium, with positive ratings for companies like CHALCO and MMG.
Automakers Under Pressure: Rising material costs are expected to increase the production costs for mass-market electric vehicles, with smaller automakers like XPENG and GAC GROUP being more vulnerable compared to larger firms like BYD and Geely.
Battery Industry Outlook: Short-term challenges are anticipated for second-tier battery companies, while CATL is expected to maintain a strong position due to its bargaining power and upcoming production resumption.
Tech Sector Challenges: Xiaomi may face margin pressures from increasing memory costs, which significantly impact the bill of materials for its smartphones, potentially affecting profitability.
4.5
02-06aastocks<Full-day Summary> HSI Falls 325 Points; HSTI Declines 59 Points; AIA Drops More Than 5%; ZTO EXPRESS-W, BOC HONG KONG, SHK PPT, REALORD GROUP, SANY INT'L Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) fell by 325 points (1.2%) to 26,559, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also experienced declines, with market turnover reaching $247.87 billion.
Active Heavyweights: Major stocks like Alibaba, Meituan, and Tencent saw significant drops, with Alibaba closing down 2.9% at $155, while Xiaomi and CCB managed slight gains.
Notable Movers: AIA experienced a sharp decline of 5.5%, while Li Auto and Mengniu Dairy saw increases of 3.6% and 3%, respectively, with several stocks hitting new highs.
Short Selling Trends: High short selling ratios were noted for several companies, including Ping An and CCB, indicating increased market speculation and potential bearish sentiment.
Money Flow
Over the past 66 trading days, overall net money flow is 682.60M, with retail investors contributing 38.61M and major investors adding 1.55B.
Net Buy $ Volume
Net Sell $ Volume
BOCI
maintain
$47.88
2026-02-03
New
Reason
The analyst rating from BOCI for XIAOMI-W (01810.HK) is a "Buy" with a target price set at HKD 47.88. The reasoning behind this rating is based on the company's continuous investment in AI large models, robots, and chips, which are expected to support its current valuation. Despite a projected decline in gross profit margin due to a decrease in high-margin ultra models, the overall growth in revenue and economies of scale are anticipated to continue pushing up operating profit quarter-over-quarter.
BOCI
Price Target
$47.88
2026-02-03
maintain
New
The analyst rating from BOCI for XIAOMI-W (01810.HK) is a "Buy" with a target price set at HKD 47.88. The reasoning behind this rating is based on the company's continuous investment in AI large models, robots, and chips, which are expected to support its current valuation. Despite a projected decline in gross profit margin due to a decrease in high-margin ultra models, the overall growth in revenue and economies of scale are anticipated to continue pushing up operating profit quarter-over-quarter.
JP Morgan
JP Morgan
Neutral
downgrade
$45 -> $38
2026-02-02
Reason
The analyst rating for Xiaomi (01810.HK) is maintained at Neutral due to several concerns highlighted in the report. The company has underperformed the Hang Seng Index (HSI) by nearly 40% over the past six months, primarily due to market worries about smartphone margin compression, weak demand growth for smartphones and IoT products, and uncertainties surrounding electric vehicle (EV) production capacity and demand in China.
Despite a downward adjustment in Xiaomi's valuation, the outlook remains challenging as data from the smartphone supply chain continues to worsen, and the shortening waiting times for EV deliveries suggest weaker-than-expected demand. Additionally, the broker anticipates that smartphone gross margins will hit a low point in the second and third quarters of 2026 before gradually recovering. The EV product cycle is expected to pick up in the second half of 2026, but production may face limitations due to delays in factory approvals.
Consequently, JP Morgan has lowered Xiaomi's core earnings projections for 2026 and 2027 and reduced the target price from HKD 45 to HKD 38, reflecting the ongoing challenges the company faces.
JP Morgan
Neutral
Price Target
$45 -> $38
2026-02-02
downgrade
The analyst rating for Xiaomi (01810.HK) is maintained at Neutral due to several concerns highlighted in the report. The company has underperformed the Hang Seng Index (HSI) by nearly 40% over the past six months, primarily due to market worries about smartphone margin compression, weak demand growth for smartphones and IoT products, and uncertainties surrounding electric vehicle (EV) production capacity and demand in China.
Despite a downward adjustment in Xiaomi's valuation, the outlook remains challenging as data from the smartphone supply chain continues to worsen, and the shortening waiting times for EV deliveries suggest weaker-than-expected demand. Additionally, the broker anticipates that smartphone gross margins will hit a low point in the second and third quarters of 2026 before gradually recovering. The EV product cycle is expected to pick up in the second half of 2026, but production may face limitations due to delays in factory approvals.
Consequently, JP Morgan has lowered Xiaomi's core earnings projections for 2026 and 2027 and reduced the target price from HKD 45 to HKD 38, reflecting the ongoing challenges the company faces.
Citi Research
Buy
downgrade
$50 -> $43
2026-01-30
Reason
Citi Research lowered its 2025-2027 adjusted net profit forecasts for XIAOMI-W primarily due to reduced shipment volumes of smartphones and electric vehicles (EVs), along with an expected decrease in gross profit margins. Despite these challenges, the firm maintains a "Buy" rating, citing a high R&D investment cycle targeting emerging technologies like AI, chips, and robotics, as well as projected growth in the IoT business and a rebound in the EV market driven by new model launches and order pickups.
Citi Research
Buy
Price Target
$50 -> $43
2026-01-30
downgrade
Citi Research lowered its 2025-2027 adjusted net profit forecasts for XIAOMI-W primarily due to reduced shipment volumes of smartphones and electric vehicles (EVs), along with an expected decrease in gross profit margins. Despite these challenges, the firm maintains a "Buy" rating, citing a high R&D investment cycle targeting emerging technologies like AI, chips, and robotics, as well as projected growth in the IoT business and a rebound in the EV market driven by new model launches and order pickups.
Goldman Sachs
Goldman Sachs
Buy
maintain
$47.5
2026-01-26
Reason
Goldman Sachs maintained a "Buy" rating for XIAOMI-W (01810.HK) due to an attractive risk-reward profile over a 12-month investment cycle, despite potential short-term resistance in the share price. The firm lowered its revenue and earnings forecasts for 2026-2027 by an average of 8% and 17%, respectively, primarily due to a downward revision in smartphone shipment volumes and cautious expectations for smart EV deliveries. However, they anticipate an increase in the average smartphone selling price, which is a key operational focus for XIAOMI-W amid rising memory costs.
Goldman Sachs
Buy
Price Target
$47.5
2026-01-26
maintain
Goldman Sachs maintained a "Buy" rating for XIAOMI-W (01810.HK) due to an attractive risk-reward profile over a 12-month investment cycle, despite potential short-term resistance in the share price. The firm lowered its revenue and earnings forecasts for 2026-2027 by an average of 8% and 17%, respectively, primarily due to a downward revision in smartphone shipment volumes and cautious expectations for smart EV deliveries. However, they anticipate an increase in the average smartphone selling price, which is a key operational focus for XIAOMI-W amid rising memory costs.
Citi
Citi
maintain
$50
2026-01-08
Reason
The analyst rating for XIAOMI-W (01810.HK) is a "Buy" based on several factors highlighted in the Citi research report. The key reasons for this rating include:
1. Facelift of the SU7: The recent unveiling of the first facelift of the SU7, along with a price increase of RMB10,000-14,000 (approximately 3.3-6.5%), is expected to boost order growth for Xiaomi.
2. Specification Upgrades: The upgrades in specifications are seen as a positive development that could enhance the appeal of the SU7.
3. Management's Pricing Strategy: Xiaomi's management indicated that the official launch price is unlikely to be reduced significantly compared to the pre-sale price, which suggests confidence in the product's value.
4. Future Catalysts: The anticipated official launch of the SU7 and the introduction of the YU7 GT are viewed as potential catalysts for further growth.
5. Target Price: Citi has set a target price of HKD50 for XIAOMI-W, indicating a positive outlook on the stock's performance.
Overall, these factors contribute to a bullish sentiment regarding Xiaomi's future sales and market position, justifying the "Buy" rating.
Citi
Price Target
$50
2026-01-08
maintain
The analyst rating for XIAOMI-W (01810.HK) is a "Buy" based on several factors highlighted in the Citi research report. The key reasons for this rating include:
1. Facelift of the SU7: The recent unveiling of the first facelift of the SU7, along with a price increase of RMB10,000-14,000 (approximately 3.3-6.5%), is expected to boost order growth for Xiaomi.
2. Specification Upgrades: The upgrades in specifications are seen as a positive development that could enhance the appeal of the SU7.
3. Management's Pricing Strategy: Xiaomi's management indicated that the official launch price is unlikely to be reduced significantly compared to the pre-sale price, which suggests confidence in the product's value.
4. Future Catalysts: The anticipated official launch of the SU7 and the introduction of the YU7 GT are viewed as potential catalysts for further growth.
5. Target Price: Citi has set a target price of HKD50 for XIAOMI-W, indicating a positive outlook on the stock's performance.
Overall, these factors contribute to a bullish sentiment regarding Xiaomi's future sales and market position, justifying the "Buy" rating.
Citi
maintain
$50
2026-01-05
Reason
The analyst rating for XIAOMI-W (01810.HK) was given as "Buy" by Citi, despite the company's electric vehicle (EV) delivery target being below investor expectations. The reason for this rating is based on the belief that XIAOMI-W's production capacity is likely sufficient to support deliveries of over 600,000 EVs, which is higher than the company's stated target of 550,000 EVs for 2026. Citi's analysis indicates that while the target is conservative and a potential cut in EV shipment volume could impact profits, the overall operational capacity and market potential justify a positive outlook on the stock, leading to a target price of HKD50.
Citi
Price Target
$50
2026-01-05
maintain
The analyst rating for XIAOMI-W (01810.HK) was given as "Buy" by Citi, despite the company's electric vehicle (EV) delivery target being below investor expectations. The reason for this rating is based on the belief that XIAOMI-W's production capacity is likely sufficient to support deliveries of over 600,000 EVs, which is higher than the company's stated target of 550,000 EVs for 2026. Citi's analysis indicates that while the target is conservative and a potential cut in EV shipment volume could impact profits, the overall operational capacity and market potential justify a positive outlook on the stock, leading to a target price of HKD50.
Morgan Stanley
maintain
2025-12-31
Reason
The analyst rating from Morgan Stanley is based on the clarification of the 'Two New' policies for 2026, which maintain the subsidy levels for technology hardware products, including the addition of smart glasses to the subsidy list. The firm views this as a positive catalyst for the technology hardware industry, as the market had anticipated a decrease in subsidies. The continuation of a 15% discount and the maximum subsidies for various consumer electronics are expected to benefit companies like XIAOMI-W, particularly in their AIoT business.
Morgan Stanley
Price Target
2025-12-31
maintain
The analyst rating from Morgan Stanley is based on the clarification of the 'Two New' policies for 2026, which maintain the subsidy levels for technology hardware products, including the addition of smart glasses to the subsidy list. The firm views this as a positive catalyst for the technology hardware industry, as the market had anticipated a decrease in subsidies. The continuation of a 15% discount and the maximum subsidies for various consumer electronics are expected to benefit companies like XIAOMI-W, particularly in their AIoT business.
Citi Research
Citi
initiated
$50
2025-12-29
Reason
The analyst rating for XIAOMI-W (01810.HK) is a "Buy" based on several key reasons outlined in the report from Citi Research:
1. Strong Growth in Ultra-Premium Market: XIAOMI-W's smartphone shipments in the price range above US$800 experienced a 56% year-over-year growth in the first nine months of 2025, indicating a significant breakthrough in the ultra-premium market.
2. Favorable Cost Structure: The broker noted that with rising memory prices, the cost structure for high-end smartphones remains superior compared to mid- and low-end phones, which could enhance profitability.
3. Solid Long-Term Visibility: Citi Research expressed confidence in the company's long-term prospects, which supports their positive outlook.
4. SOTP Valuation Method: The use of a Sum-of-the-Parts (SOTP) valuation method, which assigns an earnings valuation multiple of 18.9x for core smartphone, IoT, and internet services, along with a 1.5x price-to-sales ratio for the smart EV business, underpins the target price of $50 based on 2026 forecasts.
These factors collectively contribute to the positive analyst rating and target price for XIAOMI-W.
Citi Research
Price Target
$50
2025-12-29
initiated
The analyst rating for XIAOMI-W (01810.HK) is a "Buy" based on several key reasons outlined in the report from Citi Research:
1. Strong Growth in Ultra-Premium Market: XIAOMI-W's smartphone shipments in the price range above US$800 experienced a 56% year-over-year growth in the first nine months of 2025, indicating a significant breakthrough in the ultra-premium market.
2. Favorable Cost Structure: The broker noted that with rising memory prices, the cost structure for high-end smartphones remains superior compared to mid- and low-end phones, which could enhance profitability.
3. Solid Long-Term Visibility: Citi Research expressed confidence in the company's long-term prospects, which supports their positive outlook.
4. SOTP Valuation Method: The use of a Sum-of-the-Parts (SOTP) valuation method, which assigns an earnings valuation multiple of 18.9x for core smartphone, IoT, and internet services, along with a 1.5x price-to-sales ratio for the smart EV business, underpins the target price of $50 based on 2026 forecasts.
These factors collectively contribute to the positive analyst rating and target price for XIAOMI-W.
Goldman Sachs
Goldman Sachs
maintain
$53.5
2025-12-29
Reason
Goldman Sachs rated XIAOMI-W (01810.HK) as a "Buy" due to several key factors: the successful launch of the latest 17 Ultra smartphone series, which enhances its product line and reflects its commitment to a high-end strategy. The firm expects that this high-end strategy will continue to be a primary focus for XIAOMI-W as it aims to penetrate the Chinese market with products priced above RMB6,000 and expand its presence in overseas high-end markets. Additionally, Goldman Sachs highlighted XIAOMI-W's solid balance sheet, strong ecosystem integration capabilities, and cost advantages from its deep involvement in the supply chain, which are expected to enhance its competitiveness, particularly in the electric vehicle (EV) sector. The target price set by Goldman Sachs for XIAOMI-W is $53.5.
Goldman Sachs
Price Target
$53.5
2025-12-29
maintain
Goldman Sachs rated XIAOMI-W (01810.HK) as a "Buy" due to several key factors: the successful launch of the latest 17 Ultra smartphone series, which enhances its product line and reflects its commitment to a high-end strategy. The firm expects that this high-end strategy will continue to be a primary focus for XIAOMI-W as it aims to penetrate the Chinese market with products priced above RMB6,000 and expand its presence in overseas high-end markets. Additionally, Goldman Sachs highlighted XIAOMI-W's solid balance sheet, strong ecosystem integration capabilities, and cost advantages from its deep involvement in the supply chain, which are expected to enhance its competitiveness, particularly in the electric vehicle (EV) sector. The target price set by Goldman Sachs for XIAOMI-W is $53.5.
Citi
Buy
maintain
$50
2025-12-23
Reason
The analyst rating for XIAOMI-W (01810.HK) is a "Buy" with a target price of HKD 50, as stated by Citi. The reasoning behind this rating is that even if Xiaomi were to be included in the list of military-related entities, it would not be materially affected because the company does not have business operations in the U.S. This suggests that potential sanctions or restrictions would not significantly impact its operations or financial performance.
Citi
Buy
Price Target
$50
2025-12-23
maintain
The analyst rating for XIAOMI-W (01810.HK) is a "Buy" with a target price of HKD 50, as stated by Citi. The reasoning behind this rating is that even if Xiaomi were to be included in the list of military-related entities, it would not be materially affected because the company does not have business operations in the U.S. This suggests that potential sanctions or restrictions would not significantly impact its operations or financial performance.
Valuation Metrics
Forward PE
5Y Average PE
21.80
Current PE
22.04
Overvalued PE
29.48
Undervalued PE
14.11
Forward EV/EBITDA
5Y Average EV/EBITDA
16.51
Current EV/EBITDA
16.83
Overvalued EV/EBITDA
21.33
Undervalued EV/EBITDA
11.69
Forward PS
5Y Average PS
1.35
Current PS
1.78
Overvalued PS
1.90
Undervalued PS
0.81
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