CICC: Maintaining Xiaomi Corporation-W (01810.HK) Outperform Rating, Target Price of 70.0 Hong Kong Dollars.

Zhixin Finance APP learned that CICC released a research report stating that due to the stagnant demand for smartphones and rising raw material prices, they have lowered Xiaomi Group-W's (01810.HK) adjusted net profit for 2025 by 5.9% to 46.139 billion yuan; they are maintaining their profit forecast for 2026. The current stock price corresponds to a P/E ratio of 27.0 times/18.5 times. They are maintaining an outperform industry rating and switching the valuation center to 2026 based on the SOTP valuation method. They are maintaining a target price of 70.0 Hong Kong dollars, corresponding to a P/E ratio of 36.1 times/24.7 times, with an upward potential of 33.6%.