According to the Zhitong Finance APP, Goldman Sachs released a research report maintaining a &#34;Buy&#34; rating for Xiaomi Corporation-W (01810), raising the target price from HKD 65 to HKD 69. On June 26, Xiaomi officially launched the highly anticipated YU7, which is Xiaomi's high-end pure electric SUV series, combining performance, comfort, and spaciousness. Within three minutes of its sale, the order volume quickly surpassed 200,000, with over 122,000 orders confirmed. In the first hour of sales, the order volume soared to 289,000.
The bank stated that consumers need to pay a deposit of RMB 5,000 for the YU7 model, which can be refunded unconditionally within 7 days (consistent with the policy during the SU7 launch). Although some orders were converted from incomplete SU7 orders, the market demand for the Xiaomi YU7 still far exceeds the company's and market expectations. Within the first 24 hours, the Xiaomi YU7 received 15,000 orders, indicating that Xiaomi will continue to consolidate its leading position in the high-end automotive market in China.
The report mentioned that the retail prices for the YU7 Standard, Pro, and Max versions are RMB 253,500, RMB 279,900, and RMB 329,900 (approximately USD 35,000, USD 39,000, and USD 46,000), which is basically in line with expectations and remains highly competitive compared to peers.
Additionally, considering the strong sales of the Xiaomi SU7, the YU7 has the following performances: 1) Occupying an important position in the high-end SUV market: In the Chinese high-end SUV market, the YU7 competes with models such as Tesla Model Y and Li Auto L6, surpassing competitors in size, interior space, driving performance, powertrain, and range support. 2) Distinction from SU7: The YU7 distinguishes itself from the performance-oriented sedan SU7 by offering a balance of luxury, performance, and comfort, along with comprehensive upgrades in all aspects compared to the SU7. 3) Expanding the Xiaomi ecosystem: The YU7 further expands Xiaomi's artificial intelligence automotive and smart home ecosystem, enhancing the brand and ecosystem's appeal to consumers

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Goldman Sachs maintains a "Buy" rating on Xiaomi Corporation-W, raising the target price to HKD 69. The order volume for the YU7 exceeded 200,000 within three minutes of its launch, reaching 289,000 in the first hour, indicating stronger-than-expected market demand. The retail price of the YU7 is in line with expectations and is competitive in the high-end SUV market, further consolidating Xiaomi's position in China's high-end automotive market

- Goldman Sachs maintains a "Buy" rating for Xiaomi Group-W (01810), raising the target price from 65 HKD to 69 HKD.  
- On June 26, Xiaomi launched the highly anticipated YU7, an all-electric SUV, receiving over 200,000 orders within three minutes, with 122,000 confirmed.  
- The YU7's competitive pricing and features position it strongly against rivals in the high-end SUV market, while also expanding Xiaomi's AI and smart home ecosystem.

Zhitong

Goldman Sachs: Maintains "Buy" rating on Xiaomi Corporation-W, target price raised to HKD 69