Understanding the Market | Xiaomi Corporation-W fell over 3%, with a cumulative decline of 25% in stock price over the past month. Institutions expect its Q3 smartphone gross margin to be under pressure
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Xiaomi Corporation-W's stock price fell over 3%, with a cumulative decline of 25% in the past month, currently reported at HKD 44.42. Due to the rise in storage chip prices, the gross margin for smartphones in Q3 is expected to slightly decline to 11%. Although sales of the high-end Xiaomi 17 series increased by 30%, overall performance may be slightly below expectations, mainly due to lower-than-expected gross margins for smartphones and Internet of Things revenue. Citigroup expects adjusted net profit to be RMB 10.2 billion, a year-on-year growth of 64%
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