Ge Long Hui·2025-06-29 02:08Group 1 - Xiaomi held an ecosystem launch event on June 26, 2025, introducing products like the Xiaomi YU7, MIX Flip2, and AI glasses, leading to an upward revision of the company's automotive sales forecast for 2025/26 and an increase in target price to HKD 67, maintaining a buy rating [1][2] - The Xiaomi YU7 features a super electric motor with a 0-100 km/h acceleration time of 3.23 seconds and a top speed of 253 km/h, boasting a leading range of 835 km among mid-to-large pure electric SUVs, with fast charging capabilities [1] - The AI glasses, weighing only 40g, utilize advanced battery technology and feature a 12 MP optical lens, five microphones, and support for payment functions, with pricing slightly above market expectations [1] Group 2 - The company predicts that its new factories will begin contributing to production capacity in the second half of 2026, with projected outputs of 300,000, 300,000, and 100,000 vehicles from three factories [2] - The sales forecast for Xiaomi's automotive division has been revised to 400,000 and 700,000 units for 2025 and 2026, respectively, with the YU7 series expected to significantly outperform the SU7 series [2] - Revenue forecasts for 2026 and 2027 have been increased to CNY 646.2 billion and CNY 778.5 billion, respectively, along with an adjusted EPS of CNY 2.17 for 2026 [2]