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01810 XIAOMI-W
RTNominal down22.450 -0.350 (-1.535%)
Research Report

26/03/2021 18:01

{I-bank focus}HSBC reduces Xiaomi (01810) to HK$27.8

[ET Net News Agency, 26 March 2021] HSBC Global Research reduced its target price for
Xiaomi Corporation (01810) to HK$27.8 from HK$28 and maintained its "buy" rating.
The research house said, excluding share-based compensation and adding back fair value
changes in investments, Xiaomi's recurring net profit rose 36.7% to RMB3,204m in 4Q 2020,
in line with HSBC's expectations.
Xiaomi shipped 10m premium smartphones priced at or above RMB3,000 worldwide in 2020,
accounting for 7% of its total shipments. HSBC expects this ratio to increase further in
2021, thanks to the growing popularity of flagship models such as Mi 11.
HSBC lowered its 2021/22 net profit by 5%/4%, respectively, to factor in the lower
Internet service revenue, despite a lift in the company's margins. (KL)

Remark: Real time quote last updated: 21/10/2021 17:59
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