Core Viewpoint - Citi's report indicates that Xiaomi is likely to achieve its annual delivery target of 400,000 units based on the current delivery rate of over 10,000 units per week or nearly 50,000 units per month [1] Group 1 - Citi maintains a "Buy" rating for Xiaomi with a target price of HKD 50, which is based on a comprehensive valuation approach [1] - The valuation for Xiaomi's electric vehicle (EV) business is set at a price-to-sales ratio of 1.5 times [1] - Short-term catalysts for Xiaomi include the acceleration of EV deliveries and orders, as well as updates to new EV models [1]