Express News | Vivo Was the Top Vendor With a Share of 19.2%, Followed by Huawei, Xiaomi With 16.4% and 15.6% Share

Reuters05:21 ET

[Brokerage Focus] Huaan maintains a "buy" rating on Xiaomi (01810) and expects its Q4 autos gross margin to continue to improve quarter-on-quarter.

Jingwu Financial News | huaan Securities released a research report, in the third quarter, Xiaomi (01810) revenue was 92.5 billion yuan, yoy +30.5%, exceeding expectations by 2.5%; GAAP operating profit reached 6.04 billion yuan, exceeding expectations by 17.7%; adjusted net income was 6.25 billion yuan, exceeding expectations by 5.8%; the bank pointed out that Xiaomi's autos business gross margin reached 17.1%, a significant increase from the previous quarter, higher than the BBG consensus expectation of 12.1%. The continuous optimization of autos gross margin is due to the continuous increase in production capacity utilization rate, with economies of scale becoming evident. In October this year, Xiaomi's Su7 deliveries exceeded 0.02 million.

Jinwu Financial News02:54 ET

Cui Dongshu: Maintaining growth is not enough to rely solely on trade-in incentives. Tax incentives for car purchases are needed to stimulate first-time buyers to purchase cars.

Currently, the good effects of the trade-in policy bring a strong year-end momentum. However, this rush will lead to greater pressure on consumer activity in early 2025. Therefore, in early 2025, a strong counterforce is needed to offset the pressure of a weaker consumer year. Thus, relying solely on trade-in for stable growth in 2025 is insufficient; tax benefits on vehicle purchases are necessary to encourage first-time buyers to purchase vehicles.

Zhitong Finance00:39 ET

European Car Sales Flat in October, EVs Gain Ground, ACEA Says

The Edge Markets23:14 ET

Xiaomi's auto performance exceeded expectations across the board: revenue approaching 10 billion, annual delivery target refreshed to 0.13 million.

"Xiaomi delivers its strongest performance ever." Following the release of Xiaomi's third quarter 2024 business results, Xiaomi's founder, director, and CEO Lei Jun could hardly contain his excitement, saying so on Weibo. Looking at the various data, Xiaomi's revenue has been surging for three consecutive quarters, with adjusted net income maintaining historical highs, and all of its businesses thriving. Behind this success is the comprehensive effort of Xiaomi's "all aspects of life eco-system". This quarter, Xiaomi's autos are becoming a significant driver of growth for Xiaomi Group. Monthly deliveries have exceeded 0.02 million vehicles, revenue is approaching tens of billions, and the gross margin has also surpassed the performance of many new energy vehicle companies.

Sina Technology21:47 ET

Xiaomi's 2nd EV Model Could Be Launched in Q1 2025, Report Says

CnEVPost20:33 ET