The Zhitong Finance App learned that CITIC Lyon released a research report stating that it maintains the Xiaomi Group-W (01810) “superior to the market” rating, with a target price of HK$35. In terms of smartphones, gross margin is expected to rise quarterly and remain around 8.8% during the period, as the company prioritizes average sales price and profit margin over sales volume.

In terms of electric vehicles, the company is expected to deliver about 101,500 vehicles in the third quarter, with an average sales price of about 225,000 yuan. The bank expects Xiaomi's profits to start recovering in the fourth quarter, driven by new products launched in September, and resume growth next year.

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