---
title: "Citigroup: Maintains target price for Xiaomi Corporation-W at HKD 42 with a rating of \"Buy\""
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/279907339.md"
description: "Citi maintains a target price of HKD 42 for Xiaomi Corporation-W, with a rating of \"Buy.\" The price of Xiaomi's new model SU7 is RMB 219,900, and it received 15,000 orders within 34 minutes of its launch. Considering the rising costs of giveaways and components, the gross margin for the SU7 may be lower than expected. Xiaomi has committed to investing RMB 60 billion in AI over the next three years and has launched large models such as MiMo-V2-Pro. Based on a situational analysis of China's 187 million monthly active smartphone users, the valuation could exceed RMB 67 billion"
datetime: "2026-03-20T08:46:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/279907339.md)
  - [en](https://longbridge.com/en/news/279907339.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/279907339.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/279907339.md) | [繁體中文](https://longbridge.com/zh-HK/news/279907339.md)


# Citigroup: Maintains target price for Xiaomi Corporation-W at HKD 42 with a rating of "Buy"

According to the Zhitong Finance APP, Citibank released a research report maintaining the target price for Xiaomi Corporation-W (01810) at HKD 42, with a rating of "Buy." The price of Xiaomi's new model SU7 is RMB 219,900, and within 34 minutes of its launch, SU7 orders reached 15,000. The bank stated that considering more giveaways and rising component costs, the gross margin for SU7 may be lower than that of the initially launched SU7. Xiaomi is offering a discount of RMB 20,000 and will deliver the cars within five weeks. The bank indicated that it has prepared inventory for this release since January.

The report mentioned that Xiaomi recently launched large models such as MiMo-V2-Pro, a large model with a total parameter exceeding 1000B, featuring 42B enabled parameters. This model ranked eighth on the Artificial Intelligence Index just one week after its release. Xiaomi has committed to investing RMB 60 billion in AI over the next three years. Notably, Xiaomi's HAD (full-scenario end-to-end intelligent driving system) and XLA MiMo Embodied model are among its applications, while Xiaomi's complete IoT ecosystem can also provide better scenarios for AI applications.

Investors inquired about how to value Xiaomi's LLMs, and the bank conducted a scenario analysis for reference. A simple scenario analysis is as follows: based on 187 million monthly active users of smart phones in China, assuming 10% convert to paying users willing to pay a subscription fee of over RMB 10 per month, and then calculating with a 30 times price-to-sales ratio, it could generate a valuation of over RMB 67 billion

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