作者：宏汇资产管理投资总监 郭家耀Jingwu Cai Xun | US stocks fluctuated and stabilized on Tuesday, with the market focusing on the performance of the US presidential candidates' debate. Investment banks predict that US stocks will be under pressure in the short term, which will affect the overall market sentiment, and the three major indices will have mixed results at the close. The US dollar is trending higher, and the yield on the US ten-year bond has fallen to a level of 3.64 basis points. The price of gold is trending upward, while oil prices are under significant pressure. Hong Kong stocks are expected to open lower in the early session, following the lead of the global markets. The mainland stock market performed well yesterday, with the Shanghai Composite Index opening lower and then rising. It closed up 0.3%, and the trading volume in the Shanghai and Shenzhen markets slightly increased. After consecutive declines, Hong Kong stocks finally stabilized but with limited rebound strength, and overall trading activity remained active. The market still lacks speculative hotspots, and investors lack confidence in the outlook. It is expected that the index will continue to fluctuate and hover around the 17,000 to 17,800 level.
Industry News
Xiaomi (01810) achieved a 32% increase in revenue in the second quarter of this year, reaching 88.89 billion RMB. During the period, gross profit increased by 29.9% to 18.394 billion RMB, and adjusted net profit increased by 20.1% to 6.175 billion RMB. The overall gross margin of Xiaomi Group in the second quarter reached 20.7%. In terms of business segments, the revenue of the "Mobile + AIoT" segment reached 82.5 billion RMB, with a gross margin of 21.1%. The revenue of the "Smart Electric Vehicles and other innovative businesses" segment was 6.4 billion RMB, with a gross margin of 15.4%. Xiaomi's global smartphone shipments in the second quarter grew by 28.1% to 42.2 million units. According to third-party data, in the second quarter of 2024, in mainland China, the proportion of its high-end smartphones in the overall smartphone shipments increased by 2.1% to 22.1%. In the second quarter, the Xiaomi Su7 series delivered 27,307 new cars. At the same time, the group plans to achieve the goal of delivering a cumulative total of 0.1 million new cars of the Xiaomi Su7 series in November this year. Xiaomi's performance exceeded expectations, and the market is satisfied with the profitability of electric vehicles, and it is expected that the profitability of smartphones will rebound, which will help the company's stock price remain strong.
(I am a licensed person of the China Securities Regulatory Commission, and neither I nor any related person holds the above-mentioned shares).
Author: Guo Jiayao, Director of Investment of Macrohedge Asset Management
