Zhongjin Investment: Xiaomi's first quarter revenue may hit a new high.

CICC released a report, predicting that Xiaomi's first quarter revenue may hit a new high, and expressing optimism about the long-term growth potential of new car launches and AI devices. They maintain an outperform industry rating. CICC expects Xiaomi's first-quarter revenue to grow by 44.85% year-on-year to 109.37 billion yuan, with adjusted net profit increasing by 53.03% year-on-year to 9.93 billion yuan. Due to strong performance in the IoT and automotive business, CICC has raised Xiaomi's adjusted net profit forecast for 2025 and 2026 by 4.6% and 3.8% respectively, to 40.2 billion and 54.74 billion yuan.