The Zhitong Finance App learned that Daiwa released a research report saying that Xiaomi Group-W (01810) slightly raised its 2027-2028 earnings forecast by 1% per share due to improved profit margins driven by high-end mobile phones, and reaffirmed the “buy” rating. The target price was raised from HK$30 to HK$35.

According to the bank, Xiaomi has successfully passed on costs through average sales prices, and is supported by demand driven by new devices, and the mobile phone revenue performance is expected to be stronger. The bank now forecasts revenue of RMB 106 billion for the third quarter; adjusted net profit of RMB 5.1 billion.

In terms of electric vehicles, 101,000 units were delivered in the third quarter, higher than the bank's original forecast of 95,000 units; electric vehicle sales for the third quarter are now forecast to be 23 billion yuan. On the AIoT side, the bank lowered its revenue forecast for the third quarter to 27 billion yuan.

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