Xiaomi Corp. (1810.HK) Conference Call Summary Company Overview - **Company**: Xiaomi Corp. - **Ticker**: 1810.HK - **Market Cap**: HK$1.5 trillion / US$198.1 billion - **Enterprise Value**: HK$1.3 trillion / US$172.5 billion - **Current Price**: HK$59.45 - **Target Price**: HK$66.00 - **Upside Potential**: 11.0% [1][21] Key Product Launches - **Xiaomi 17 Series**: Launched flagship smartphones including Xiaomi 17, 17 Pro, and 17 Pro Max with innovative features and competitive pricing starting from Rmb4,499 for the base model [1][25] - **AIoT Products**: Introduction of 6 new premium AIoT products including tablets, TVs, routers, and smart speakers, with a focus on the European market [1][44] - **HyperOS 3.0**: Upgraded operating system with enhanced efficiency and AI capabilities [1][46] Core Insights 1. **Smartphone Pricing Strategy**: - The 17 Pro's pricing is Rmb200-500 lower than previous versions, potentially attracting more consumers and increasing market share in the Rmb5k+ segment [2][27] - Xiaomi's market share in the Rmb5-6k segment was approximately 15% in 2Q25, compared to 25% in the Rmb4-5k segment [2][21] 2. **Electric Vehicle (EV) Commitment**: - Launched customization services for YU7 Max and SU7 Ultra, aiming to strengthen its position in China's premium auto market [3][22] - Average delivery capacity is expected to increase as the run rate approaches 10k units/week [3][22] 3. **AIoT Warranty Service**: - Announced a 10-year free warranty for all ACs sold from 2025, surpassing the industry standard of 6 years [4][20] Financial Projections - **Revenue Growth**: - Projected revenue for 2024 is Rmb365.9 billion, increasing to Rmb737.6 billion by 2027 [7][21] - Total revenue growth rates are expected to be 35.0% in 2024, 29.2% in 2025, and 20.0% in 2027 [15][21] - **Earnings Per Share (EPS)**: - New EPS estimates are Rmb1.07 for 2024, Rmb1.56 for 2025, and Rmb2.62 for 2027 [7][21] - **Profit Margins**: - EBITDA margin projected to increase from 8.4% in 2024 to 11.9% in 2027 [15][21] Market Dynamics - **AIoT Revenue Growth**: Expected to moderate in 2026 due to a higher base, with a notable slowdown in growth rates [50][21] - **Competitive Landscape**: Xiaomi's pricing strategy aims to capture market share from competitors, particularly in the premium smartphone segment [27][21] Additional Considerations - **Upcoming Events**: - Monitoring EV delivery capacity ramp-up and Singles' Day GMV data [22][21] - Anticipation of new EV model filings with MIIT [22][21] - **Investment Recommendation**: - Maintain a "BUY" rating with a target price of HK$66, reflecting a modest increase from previous estimates [21][1] This summary encapsulates the key points from the Xiaomi conference call, highlighting product launches, financial projections, and strategic insights into the company's market positioning and future outlook.

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BYD Company Limited ( OTCPK:BYDDF , OTCPK:BYDDY ) has of late become an actively discussed company in an active industry – EV. BYD has several other revenue segments as well, but the core business segment that contributes majorly is the automotiveEquity investor with focus on long term and medium term value. Focuses on companies with good fundamentals with a long haul for investing and sector agnostic. Have passed CFA Level 1. Looking forward to building a base as an independent blogger on equity research r ...

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Elon Musk, the trillion dollar man. Tesla unveiling an IPOP and pay package for its CEO with a series of ambitious benchmarks the company must meet to unlock the compensation and an increased stake in the EV giant. Join me now got Steven Jenaro Stifl nextgen transport analyst and go to Makunda Yale School of Management lecturer and author of picking presidents.Stephen, I'm going to start with you as a financial analyst on this panel. You of course Stephen you know this company backwards and forwards. What d ...

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Company Overview & Strategy - Xiaomi cultivates a strong following among younger consumers in China, positioning itself as an alternative to Apple, Tesla, and Google [1] - The company aims to seamlessly integrate its products into various aspects of users' lives, with the EV project designed to complete its ecosystem [5][6] - Xiaomi entered the EV market partly due to concerns about US sanctions impacting its smartphone business [7] EV Market Entry & Development - Xiaomi's first EV, the SU7, is priced starting at just over $30,000, while the YU7 is around $35,000, making them competitive with Tesla's Model 3 and Model Y in China [14][15] - The company invested over $1.6 billion into more than 100 companies in the EV supply chain and constructed its own factory in Beijing [10] - Xiaomi achieved rapid scaling, producing its first 100,000 EV units in 230 days [14] Market Competition & Future Outlook - The Chinese EV market is highly competitive, with approximately 140 EV manufacturers [2][17] - In 2024, approximately 64% of all passenger EV sales were in China [16] - Xiaomi aims to become one of the world's top five car makers within the next 15 to 20 years, requiring expansion beyond China [17] - The company faces geopolitical uncertainties and trade barriers, including a 100% tariff on Chinese EVs in the US [18]

Crypto Portfolio Strategy - C10 Treasury and C10 Index are presented as a decade-long crypto portfolio strategy, not a short-term bet [1] - The strategy aims to capture long bull growth through diversified allocation and steady compounding [1] - The strategy supports EV (Electric Vehicle) and Web3, creating a dual-flywheel synergy to realize MetaChemistry (超维化反) [1] Investment Analogy - Investing in C10 Treasury and C10 Index is compared to investing in NASDAQ100 ten years ago [1]

Rare Earths & Critical Minerals Supply Chain - Establishing a domestic rare earth magnet manufacturing business is possible but faces challenges [1] - Building the infrastructure for harvesting and refining rare earths takes considerable time, impacting EV production [2] - Government intervention is warranted in cases of market failure or negative externalities related to public goods like climate [4][5] - Ford and other U S manufacturers have experienced production pauses due to rare earth supply shortages [6] - The U S refining infrastructure for rare earths is estimated to be up to speed within 5 to 10 years [7] Electric Vehicle (EV) Market & Policy - The transition to EVs accelerated after 2010, reaching approximately 10% market share [8] - IRS tax credits have significantly influenced EV sales, with potential slowdowns anticipated without them [8][9] - Domestic sourcing of critical minerals is crucial for climate and national security reasons [9] - The Trump administration invested in private industry, such as MP Materials, to advance domestic rare earth production [3]

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