CICC: Xiaomi Corporation-W is expected to achieve record high revenue in the first quarter

CICC released a research report stating that it expects Xiaomi Corporation-W's first-quarter revenue to reach a new high, and it is optimistic about the long-term growth potential of new car launches and AI on the device side, maintaining an "outperform the industry" rating. CICC anticipates that Xiaomi's first-quarter revenue will increase by 44.85% year-on-year to RMB 109.37 billion, with adjusted net profit expected to rise by 53.03% year-on-year to RMB 9.93 billion (including a loss of RMB 340 million from automotive and innovative businesses). Based on the strong performance of the Internet of Things and automotive businesses, CICC has raised its adjusted net profit forecasts for Xiaomi for 2025-2026 by 4.6% and 3.8% to RMB 40.2 billion and RMB 54.74 billion, respectively