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Taking the lead independently, with foreign investment closely following; range-extended hybrid technology sweeping the global market.
①On November 20 local time, Stellantis Group announced the launch of the STLA Frame vehicle platform. ② Stellantis Group introduced that vehicles equipped with this platform will first be equipped with innovative powertrains, including pure electric and extended-range, and in the future can also be equipped with internal combustion engines, hybrid power, and hydrogen energy power systems.
Lyon: Maintains a "outperform" rating for kingsoft software, with the target price raised to HK$37.2.
Citi has released a research report stating that it maintains kingsoft (03888) with an "outperform" rating, raising the net profit forecasts for 2024 and 2025 by 26% and 14% respectively, reflecting an upward revision in the gaming business forecast. Due to changes in predictions and the potential for better synergy between Xiaomi and kingsoft under the updated framework agreement, the discount for the holding company has decreased, and the target price has been raised from HKD 29.5 to HKD 37.2. The report mentions that kingsoft’s gaming business has shown surprises, with third-quarter gaming revenue and profits exceeding expectations, and gaming revenue increased by 78% year-on-year. The firm pointed out that the company's gaming performance this year is exceptional.
[Brokerage Focus] Open Source Securities maintains a 'buy' rating for Kingsoft (03888), pointing out that Kingsoft Cloud is expected to benefit from the Xiaomi ecosystem and AI-driven initiatives, which may enhance its valuation.
Kingsoft Financial News | According to research from Open Source Securities, the office software business of Kingsoft (03888) experienced a year-on-year revenue growth of 12.5% in Q3 2024, with the monthly active users of major products increasing by 4.9% year-on-year and accelerating quarter-on-quarter. The revenue from personal subscription services grew by 17.2% year-on-year, and WPS AI 2.0 provided a more convenient creative experience, enhancing paid stickiness and conversion rates. The revenue from institutional subscriptions remained flat year-on-year and increased by 23.8% quarter-on-quarter. The institution estimated that the impact of the shift in subscription model (from annual billing to monthly billing) has significantly diminished, while the company actively expands into state-owned and private enterprise markets, with contracts.
Xiaomi Group-W (01810.HK) granted 49.5937 million share reward shares and a total of 0.51 billion Xiaomi Hong Kong stock options.
On November 20, 2023, Xiaomi Group-W (01810.HK) announced that the company would grant a total of 49,593,741 shares as rewards to 2,425 selected participants, including group employees and service providers, according to the 2023 share plan on November 20, 2024. On the same day, Xiaomi Hong Kong granted a total of 510,335,236 Xiaomi Hong Kong share options to 2,951 selected participants who are employees of the Xiaomi Hong Kong Group according to the 2024 Xiaomi Hong Kong share plan.
Passenger Association: In the first two weeks of November, the retail sales of electric vehicles reached 0.581 million units, a year-on-year increase of 66%.
From November 1 to 17, retail sales of new energy passenger vehicles in the market reached 581,000 units, an increase of 66% compared to the same period last year and a 7% increase compared to the previous month. Since the beginning of the year, cumulative retail sales have reached 8.909 million units, up 41% year-on-year.
Barclays Maintains Xiaomi Corp. Unsponsored ADR Class B(XIACY.US) With Buy Rating, Raises Target Price to $24
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151453477 OP : 1. Future Growth Potential
• Xiaomi is actively expanding into smart devices, IoT, and electric vehicles.
• In Q3 2024, Xiaomi launched its first electric car series, SU7, delivering over 100,000 units, highlighting its growth potential in emerging markets.
2. Profitability
• Xiaomi achieved a net profit of RMB 5.35 billion in Q3 2024, up 9.9% year-over-year, exceeding market expectations.
• Adjusted net profit reached RMB 6.25 billion, growing 4.3%. Total revenue rose 30% to RMB 92.51 billion, reflecting strong profitability.
3. Market Competitiveness
• Xiaomi retains its position as the third-largest smartphone brand globally, with 42.8 million units shipped in Q3 2024, a 3.3% year-over-year increase.
• Revenue from IoT and lifestyle products grew 26% to RMB 26.1 billion, showcasing its competitive edge in multiple sectors.
151453477 OP : 4. Management Team
• Xiaomi is led by its founder Lei Jun, serving as Chairman and CEO, supported by co-founders Lin Bin and Liu De, who bring extensive industry experience and strong leadership.
5. Financial Health
• Xiaomi demonstrates financial stability, with growing revenues and profits across business segments in Q3 2024.
6. Shareholder Returns
• Xiaomi’s Hong Kong-listed stock surged over 80% in 2024, reflecting investor confidence in its performance and future prospects.
• Information on its dividend policy requires further review of financial statements.
7. Risk Management
• Xiaomi’s diversified business portfolio, spanning smartphones, IoT, and electric vehicles, mitigates risks associated with a single revenue source.
• However, challenges in new ventures like electric vehicles, including market competition and technological hurdles, warrant ongoing attention.
8. Corporate Culture and Social Responsibility
• Xiaomi emphasizes innovation and affordability, adhering to its philosophy of “moving people with heart and offering honest pricing.”
• The company has committed to achieving carbon neutrality in its operations by 2040 and using 100% renewable energy, highlighting its focus on environmental sustainability.
Xiaomi shows strong performance across key indicators, demonstrating significant growth potential and market competitiveness.