Raise TP and estimates on 4Q23 beat; All eyes on EV official launch on 28 March

M N 20 Mar 2024 CMB International Global Markets | Equity Research | Company Update Xiaomi (1810 HK) Raise TP and estimates on 4Q23 beat; All eyes on EV official launch on 28 March Target Price HK$20.25 Xiaomi’s 4Q23 revenue/net profit of 11%/236% YoY growth beat our/consensus (Previous TP HK$19.54) estimates, driven by stronger margins, improving mix and investment gains. Up/Downside 36.3% Looking ahead, mgmt. is positive on smartphone recovery, premiumization Current Price HK$14.86 strategy and EV busines ...