Citi: Expects Xiaomi Corporation-W stock price to respond positively to YU7 order performance, rating "Buy" with a target price of HKD 73

Citi released a research report stating that the retail prices for Xiaomi Corporation-W YU7 Standard Edition, Pro Edition, and Max Edition are RMB 253,500, RMB 279,900, and RMB 329,900, respectively. In the first 3 minutes after sales began, the order volume reached 200,000, and within the first hour, it reached 289,000, exceeding most market expectations. Citi expects Xiaomi's stock price to respond positively to the orders for YU7 and believes there is room for an increase in this year's target of 400,000 electric vehicle shipments. Investors may gain confidence due to further plans for electric vehicle capacity expansion. The next catalyst will be the second-quarter performance/third-quarter guidance. Target price is HKD 73, rating "Buy."