Guosheng Securities: Reiterates "Buy" rating on Xiaomi Group-W (01810.HK), long-term trend unchanged, high-end promotion progressing.

According to the Wisdom Financial APP, Guosheng Securities released a research report stating that Xiaomi Group-W (01810.HK) has a target price of 52 Hong Kong dollars, reaffirming a "buy" rating. The strong performance in the third quarter, with revenue increasing by 22.3% to 113.1 billion yuan compared to the same period last year, and adjusted net profit hitting a historical high of 11.3 billion yuan, representing an 80.9% year-on-year increase. Growth was mainly driven by the high-end smartphone strategy and the automobile business, with Xiaomi delivering 109,000 cars and achieving a profit for the first time in a single quarter in its car and AI innovation business. The company's "Smartphone, Smart Home, Smart Living" ecosystem strategy continues to advance, with the AIoT platform connecting over 1 billion devices, highlighting significant long-term growth potential.