Sheng Siong
NIO Return Rate$XIAOMI-W(01810.HK)
Can Xiaomi protect phone margins through premium push?
While Xiaomi’s EV delivery momentum is undeniably impressive, the Q4 earnings are likely to be defined by a significant 'pincer movement' on margins.
On one side, the core smartphone business is under immense pressure as memory chip costs surge and global shipments cool, with analysts projecting margins could dip as low as 8%.
On the other hand, the aggressive RMB 60B commitment to AI and the razor-thin margins on the new SU7 mean the company is burning capital faster than it can be offset by premium phone sales.
Even with the SU7’s success, the high cost of components and the 'price war' in the Chinese EV market suggest that bottom-line profitability will struggle this quarter. Investors should look past the delivery hype and focus on whether the premiumization strategy can actually stabilize these deteriorating gross margins.
🔥 All Eyes on Xiaomi Earnings — What’s Your Call?
After a blockbuster spring launch — new SU7, three self-developed AI models, and a $8.3B AI investment pledge — Xiaomi drops its Q4 earnings today. The market‘s watching closely.
But here’s the catch:
📱 Phones under pressure — memory chip costs surging, IDC expects shipments down ~11% in Q4. Margins? Analysts say could dip to ~8% .
🚗 Cars gaining steam — Q4 deliveries hit ~140k units. New SU7 launched last week, 34 minutes to 15k pre-orders. But pricing got competitive (up only 4,000 yuan despite cost pressures) .
🤖 AI: the wildcard — MiMo-V2-Pro ranked top 8 globally. RMB 60B committed over 3 years. But this spend is hitting margins now .
Mixed signals everywhere. So — what‘s your read?
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1. Can Xiaomi protect phone margins through premium push?
2. Will auto be the next growth engine?
3. AI investment — opportunity or margin killer?
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$XIAOMI-W(01810.HK)$Xiaomi Corporation(XIACY.US)$XIAOMI-WR(81810.HK)
What's your call on Xiaomi earnings?
Single Choice
- 🚀 Bullish — AI + auto story outweighs phone weakness57%
- 📉 Bearish — margin pressure too real, guidance will disapp20%
- 🤷 Neutral — waiting to see how management frames 202622%
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