27 June 2025 | 6:34AM HKT Xiaomi Corp. (1810.HK) Buy Extending leadership in premium autos on YU7's above-expected release, expanding ecosystem frontier on AI Glasses' debut; Buy 1810.HK 12m Price Target: HK$69.00 Price: HK$56.90 Upside: 21.3% On June 26, Xiaomi officially released the long-expected YU7, Xiaomi's premium pure electric SUV series that combines performance, comfort and spaciousness. Number of orders reached 200k within the first 3min of sales (out of which 122k+ orders were confirmed), and 28 ...

Xiaomi Corp May 8, 2025 09:00 PM GMT SU7 Ultra Kicks Off Xiaomi's Luxury Journey, PT Up to HK$62 | What's Changed | | | | --- | --- | --- | | Xiaomi Corp (1810.HK) | From | To | | Price Target | HK$45.00 | HK$62.00 | We believe the launch of Xiaomi's SU7 Ultra has kicked off its luxury car journey, and the launch of its second EV - YU7 - could also be a significant positive catalyst in 2025. Meanwhile, AIoT and smartphone divisions are seeing positive momentum. We raise our price target to HK$62. Xiaomi's s ...

From US Exceptionalism to Sell America and Back Again. What next? US Exceptionalism: Extreme value creation meets macro uncertainties ab 23 June 2025 Global Research UBS HOLT Macro Webinar UBS HOLT Macro Webinar 23 June 2025 ab 2 How to position (time to look at GEM again?) Equities Global Financial Michel Lerner, CFA Head of HOLT michel.lerner@ubs.com +44-20-7883 3649 This report has been prepared by UBS AG London Branch. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES, including information on the Quantita ...

23 June 2025 | 4:55PM IST India CRO/CDMO tour takeaways: Signs of China+1 progressing well, focus on investments in new modalities We hosted our 2nd annual India CRO/CDMO trip between 16th and 18th June, 2025 across Bangalore (1 day) and Hyderabad (2 days). The event featured 10 CRO/CDMO companies in the country across the listed and unlisted space. We saw high client interest with 20+ clients across the globe (US, mainland China, HK, Taiwan, India) flying down to attend the meetings. Exhibit 1: We hosted m ...

Joni Teves Precious Metals Strategist Tel: +65-6495-6851 Joni.teves@ubs.com This document has been prepared by UBS AG, Singapore Branch ANALYST CERTIFICATION AND REQUIRED DISCLOSURES, including information on the Quantitative Research Review published by UBS, begin on SLIDE 25 UBS does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should ...

June 23, 2025 12:53 PM GMT China Property | Asia Pacific M Update Weekly Database Tracker #25 Key Takeaways Asia Pacific Weekly primary unit sales in 50 cities were -10% YoY (vs. -9% YoY last week) for Industry View In-Line the week ended June 22: Tier 1 city sales were -23% YoY (vs. -8% YoY last week). Tier 2 city sales were -10% YoY (vs. -12% YoY last week). Tier 3 city sales were -1% YoY (vs. 0% YoY last week). Weekly secondary unit sales in 10 cities were -10% YoY (vs. +6% YoY last week): Tier 1 city we ...

June 26, 2025 04:50 PM GMT Xiaomi Corp | Asia Pacific YU7 – Another Success Ahead Key Takeaways YU7 is highly likely to be another success, and we reiterate our OW rating and Top Pick recommendation. Xiaomi launched its second EV, the YU7, on June 26 with starting price of Rmb253.5K for the basic model, Rmb279.9K for Pro and Rmb329.9K for Max. Compared with SU7's price range of Rmb215.9k to Rmb299.9k, YU7 has a higher price and we believe it could have a positive impact on ASP and margins in 2025-26. What's ...

招股书显示，周六福的公司收入主要来源于加盟商。2022年至2024年，周六福的营收分别为31.02亿 元、51.50亿元和57.18亿元；其中，加盟模式产品销售额占比已有半数。2022年至2024年，分别为 52.9%、55.4%、50.5%；同期自营店产品销售额占比仅有11.7%、9.5%和8.0%。净利润分别为5.75亿 元、6.60亿元和7.06亿元。不过，近年周六福的毛利率在持续下滑，分别为38.7%、26.2%和25.9%。 截至2024年12月底，周六福的线下销售网络门店共有4129家。涵盖中国31个省份及305个地级市；及位 于海外的四家加盟店。其中，加盟店数量分别为3974家、4288家、4034家，占周六福门店总数的比重为 98.08%、97.83%、96.56%，在珠宝行业中排名第五。 据弗若斯特沙利文的资料，以2024年商品交易总额及来自黄金珠宝产品的收入计算，周六福在中国所有 黄金珠宝公司中分别排名第六及第十，市场占有率分别为6.2%及1.0%。 回顾历史发现，除在港股上市外，周六福还曾谋求A股上市。分别在2019年4月，2022年6月提交过两次 IPO申请，但因加盟模式风险、知识产权 ...

6月27日，A股早盘窄幅震荡，截至9:35，沪指涨0.05%，深成指涨0.29%，创业板指涨0.37%。 东方证券认为，综合来看，维护资本市场稳定已成为明确政策目标，国内经济基本面平稳向好态势不变，市场风险偏好有所修复，股指出现大幅调整概 率相对有限。 1、申万宏源：短期有休整需要，但跌不深是一致预期 申万宏源认为，短期有休整需要，但跌不深是一致预期。科技短期反弹，呈现低风偏特征，关注7—8月互联网巨头资本开支可能再度放量的验证。防御 性资产中，关注保险举牌受益的银行，进入高股息配置区间的白酒龙头。中期结构不变，A股重回结构牛，仍依赖科技产业趋势突破。看好三个宏大叙 事强相关资产，黄金、稀土和国防军工。战略看好港股是潜在牛市中的领涨市场。 2、东方证券：7月业绩将成为股价表现的主要因素 热门板块 1、小米汽车板块活跃 小米汽车板块活跃，凯众股份涨停，海泰科、富特科技跟涨。 点评：消息面上，昨晚小米YU7正式发布，1小时大定突破28.9万台。 | | 小米汽车(02GN2271) | | + 板块 | | --- | --- | --- | --- | | | 1343.58 +25.90 +1.97% | | ...

财政部：截至5月末全国地方政府债务余额512475亿元 智通财经6月27日电，财政部数据显示，2025年1-5月，地方政府债券到期偿还本金6044亿元，其中发行 再融资债券偿还本金4920亿元、安排财政资金等偿还本金1124亿元。5月当月到期偿还本金2251亿元。 2025年1-5月，地方政府债券支付利息5709亿元。其中，5月当月地方政府债券支付利息1393亿元。截至 2025年5月末，全国地方政府债务余额512475亿元。其中，一般债务171838亿元，专项债务340637亿 元；政府债券510871亿元，非政府债券形式存量政府债务1604亿元。 ...