[ET Net News Agency, 5 November 2018] HSBC Global Research initiated coverage on Xiaomi
Corporation (01810) with a "buy" rating and a target price of HK$16.65.
The research house said Xiaomi is misunderstood. Many investors still see it as one of
the world's biggest makers of quality, low-cost smartphones.
HSBC said Xiaomi has used its huge smartphone user base to build strong and data-related
businesses in the Internet of Things (IoT) and Internet services. It believes Xiaomi's
achievements in these areas are not getting the attention they deserve.
Xiaomi's addressable market now goes far beyond smartphones and HSBC believes its
three-pronged inter-connected business model will drive sustainable, self-reinforcing
growth.
HSBC forecast a 60% non-GAAP net profit CAGR for 2017-20, propelled by a 35% revenue
CAGR and gross margin expansion due to a shift in the sales mix towards services and
product upgrades. (KL)
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01810 XIAOMI-W
Nominal 
17.340 -0.080 (-0.459%) Research Report
05/11/2018 14:17
[I-bank focus]HSBC starts Xiaomi Corp (01810) at HK$16.65
| Remark: | Real time quote last updated: 30/04/2024 15:17 |
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