---
title: "\"Analysis Report\" by BOC International: Xiaomi-W's quarterly performance far exceeds expectations, target price raised to 22.2 yuan."
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/102967127.md"
description: "Xiaomi-W's third-quarter performance was strong, with adjusted net profit of 6 billion yuan, exceeding market expectations by 18% and 29% respectively. The gross profit margin of smartphones reached a historic high of 16.6%. CICC has raised Xiaomi's target price to 22.2 yuan and reiterated its \"buy\" rating. CICC believes that Xiaomi 13 and 14 have received positive feedback from consumers due to their more powerful system and improved design, and the overall gross profit margin of Xiaomi's business is better than expected."
datetime: "2023-11-22T07:32:14.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/102967127.md)
  - [en](https://longbridge.com/en/news/102967127.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/102967127.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/102967127.md) | [繁體中文](https://longbridge.com/zh-HK/news/102967127.md)


# "Analysis Report" by BOC International: Xiaomi-W's quarterly performance far exceeds expectations, target price raised to 22.2 yuan.

Bank of China International has released a research report stating that XIAOMI-W-W (01810.HK) had a strong performance in the third quarter, with adjusted net profit of 6 billion yuan, exceeding the bank's and market expectations by 18% and 29% respectively. The gross profit margin of the smartphone business reached a historical high of 16.6%. Although some investors still have doubts about the group's profit prospects, the bank believes that XIAOMI-W 13 and 14 have received positive feedback from consumers due to their more powerful System-on-Chip (SoC) and improved design. The bank also pointed out that the overall gross profit margin of XIAOMI-W's business is better than expected. As a result, the bank has raised its adjusted earnings per share forecast for the group for the years 2023 to 2025 by 10%, 10%, and 13% respectively. The target price has also been further raised from 20.2 yuan to 22.2 yuan, while maintaining a "buy" rating. (sl/k)

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