The Zhitong Finance App learned that Lyon released a research report stating that it maintains the Xiaomi Group-W (01810) “outperforms the market” rating, with a target price of HK$35. Xiaomi officially launched the SkyNoMad series this Monday (7th), with a total of four models, targeting business and home buyers, providing spacious, expandable and luxurious interiors, longer battery life, and competitive pricing. The series locked in 10,000 orders in the first four minutes, and the bank expects Xiaomi to deliver around 90,000 units in 2026.

The company also released the Xiaomi 18 Fold and Xiaomi Pad 9 Pro Max simultaneously to further promote the ultra-high-end market, giving priority to increasing the average sales price and gross margin higher than the shipment volume. With the launch of the new flagship product, the bank believes that Xiaomi's revenue and profits should bottom out in the third quarter of 2026 and begin to rebound in the fourth quarter. The bank believes that 2026 will still be a challenge for Xiaomi, but the long-term moat is stable.

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