---
title: "In \"The Big Banks,\" Citigroup lowers Xiaomi's target price to 60 yuan, with uncertainty remaining due to slowing smartphone and AIoT revenue"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/266467184.md"
description: "Citi published a research report, lowering Xiaomi's target price to HKD 60 due to a slowdown in smartphone and AIoT revenue. The third-quarter performance met expectations, with total revenue and net profit increasing by 22.3% and 80.8%, respectively. Electric vehicle revenue accounted for 26% of the group's revenue, showing upward potential. Citi predicts a 14% and 17% growth in revenue and net profit for the fourth quarter, reiterating a \"Buy\" rating"
datetime: "2025-11-19T02:17:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/266467184.md)
  - [en](https://longbridge.com/en/news/266467184.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/266467184.md)
---

> 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/266467184.md) | [English](https://longbridge.com/en/news/266467184.md)


# In "The Big Banks," Citigroup lowers Xiaomi's target price to 60 yuan, with uncertainty remaining due to slowing smartphone and AIoT revenue

Citi published a research report indicating that Xiaomi (01810.HK) achieved third-quarter results this year that met expectations, with total revenue and adjusted net profit growing by 22.3% and 80.8% year-on-year, reaching RMB 113 billion and RMB 11.3 billion, respectively. Smartphone revenue declined by 3% due to weak shipments in China and India, while revenue from Artificial Intelligence of Things (AIoT) slowed to a growth of 5.6% due to reduced national subsidies. However, electric vehicle revenue reached RMB 29 billion, accounting for 26% of the group's revenue, driven by increased delivery volumes and average selling prices.

Citi forecasts that Xiaomi's total revenue and adjusted net profit for the fourth quarter will grow by 14% and 17% year-on-year, respectively. Considering the uncertainties in smartphones and AIoT, the adjusted net profit forecasts for Xiaomi for the fiscal years 2025 and 2026 have been revised to growth of 4% and a decline of 6%, respectively; the target price has been lowered from HKD 69 to HKD 60, while still believing that the electric vehicle business has attractive upside potential, reiterating a "Buy" rating

### 相關股票

- [Xiaomi Corporation (XIACY.US)](https://longbridge.com/zh-HK/quote/XIACY.US.md)
- [XIAOMI-W (01810.HK)](https://longbridge.com/zh-HK/quote/01810.HK.md)

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