Six Things From Tesla's Report, Besides EarningsCONCLUDED[Tesla Stock Falls After Earnings. The Stock Is All About AI Now.]Last Updated:---1 day ago# Six Things From Tesla's Report, Besides EarningsBy[Al Root]Tesla's earnings report runs 35 pages, and while investors might care most about one line–the financial results–there are many other tidbits for them to digest.(1) The biggest news was the disclosure of a $2 billion stake that Tesla took in xAI. That furthered the narrative that Tesla is morphing into ...

Company Overview - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team operates from key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Utilization - Proactive is a forward-looking company that adopts technology enthusiastically to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Core Insights - Tesla's annual sales have declined for the second consecutive year, primarily due to the removal of the federal tax credit in the U.S. and increased competition from Chinese automakers [1][4] - In 2025, Tesla delivered 1.63 million vehicles globally, marking a 9% decrease from 1.79 million in 2024 [1] - The fourth-quarter sales were reported at 418,227, reflecting a 15.6% drop compared to the same period last year, which was significantly below analysts' expectations [2] Sales Performance - Tesla's sales in the third quarter reached a record 497,099 vehicles, a 29% increase from the previous quarter, as consumers rushed to purchase EVs before the federal tax credit was eliminated [4] - The decline in sales post-tax credit removal indicates a significant impact on consumer purchasing behavior [4] Market Competition - Tesla's market share has been eroded in Europe and China due to the rise of competitors like BYD, which delivered 2.26 million EVs in 2025, surpassing Tesla in global EV sales [3] - Although Tesla faces competition in the U.S., it is not from Chinese automakers, as they are currently barred from selling vehicles in the country [3] Strategic Shift - CEO Elon Musk is attempting to pivot Tesla's focus from solely manufacturing and selling EVs to broader ventures in AI and robotics, promoting a vision of "sustainable abundance" [5] - Despite this strategic shift, the majority of Tesla's revenue still comes from its EV business, with $21.2 billion out of $28 billion generated in the third quarter attributed to EV sales [6]

Group 1 - BYD experienced a significant decline in December deliveries, totaling 414,784, down from 474,921 in November, indicating a challenging end to a volatile year for the company amid a price war and weak domestic demand [2] - The company has adjusted its 2025 sales target down by 16% to 4.6 million units, reflecting the impact of weakening domestic demand on its performance [2] - Despite the decline, BYD remains the market leader in electric vehicles, with total deliveries exceeding 4.54 million passenger vehicles for 2025, representing a 6.94% increase from 2024 [2] Group 2 - The competitive landscape shows Tesla's wholesale deliveries of 735,274 units from Model Y and Model 3 vehicles in China between January and November, with December figures still pending [3] - The IAA MOBILITY 2025 automobile fair highlights the struggles of German automakers to maintain market share as they face increasing competition from Chinese manufacturers like BYD [1]

Chinese automakers took a record share of the European EV market in November amid an expansion into the region.A Record ShareAutomakers from China took a record 12.8% market share in the European region, Bloomberg reported on Wednesday, citing data collected by market research firm Dataforce.Chinese automakers like BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) , Stellantis NV-backed (NYSE:STLA) Leapmotor, and the country's largest exporter, Chery Automobile, comprised the brands leading China's European EV charge. C ...

Group 1 - Trump's media company is merging with a fusion venture, indicating a strategic move to enhance its market position and expand its operational capabilities [1] - Ford has unveiled significant challenges in the electric vehicle (EV) sector, specifically highlighting Detroit's largest EV failure, which may impact its competitive stance in the rapidly evolving automotive market [1] Group 2 - The merger of Trump's media company with a fusion venture could lead to new opportunities for content creation and distribution, potentially reshaping the media landscape [1] - The announcement regarding Ford's EV struggles underscores the difficulties traditional automakers face in transitioning to electric vehicles, raising questions about future investments and market strategies [1]

Summary of Xiaomi Corp Conference Call Company Overview - **Company**: Xiaomi Corp (Ticker: 1810.HK) - **Industry**: Greater China Technology Hardware - **Market Cap**: US$123.685 billion - **Current Stock Price**: HK$37.70 (as of November 20, 2025) - **Price Target**: HK$62.00, representing a 64% upside potential Key Points Industry Dynamics - **Memory Cost Increase**: The company is facing rising memory costs and plans to implement multiple strategies to mitigate the impact, including: 1. Raising Average Selling Price (ASP) to pass on costs 2. Optimizing product mix to focus on high-end products less sensitive to memory costs 3. Implementing stricter cost control measures across smartphone and other business units [1][2][3] Electric Vehicle (EV) Business - **New EV Models**: The company anticipates the introduction of new EV models in 2026, with accelerated delivery and shorter lead times for existing models (SU7 Pro and Pro Max). News regarding these models is expected within the next three to six months, which could serve as a positive catalyst for the stock [2][3] AIoT Business Performance - **Growth Metrics**: Both domestic and overseas divisions of the AIoT business have shown positive year-over-year growth in Q3 2025, with overseas growth outpacing domestic growth. The trend is expected to continue into 2026, indicating a stronger growth profile for the overseas division [3] Financial Projections - **Earnings Estimates**: - FY 2025 EPS: Rmb 1.53 - FY 2026 EPS: Rmb 1.87 - FY 2027 EPS: Rmb 2.35 - **Revenue Estimates**: - FY 2025: Rmb 467.7 billion - FY 2026: Rmb 592.0 billion - FY 2027: Rmb 677.6 billion - **EBITDA Estimates**: - FY 2025: Rmb 41.8 billion - FY 2026: Rmb 58.9 billion - FY 2027: Rmb 76.7 billion [5] Risks and Considerations - **Upside Risks**: - Better-than-expected orders and customer feedback for the second EV model - Successful offline expansion in China contributing to strong volume - Increased market share in overseas markets - **Downside Risks**: - Intense competition in the EV sector in 2025 - Pressure on smartphone gross margins due to inventory destocking and weak demand - Concerns regarding smart EV investments potentially exerting pressure [10] Analyst Ratings - **Current Rating**: Overweight - **Analyst**: Morgan Stanley - **Industry View**: In-Line [5][10] Additional Information - **52-Week Stock Price Range**: HK$26.80 - HK$61.45 - **Average Daily Trading Value**: US$1.259 million - **Shares Outstanding**: 25,501 million [5] This summary encapsulates the critical insights from the conference call, highlighting Xiaomi Corp's strategies, performance metrics, and market outlook.

Xiaomi Corp. (1810.HK) Earnings Call Summary Company Overview - **Company**: Xiaomi Corp. (1810.HK) - **Market Cap**: HK$1.1 trillion / $136.0 billion - **Enterprise Value**: HK$859.5 billion / $110.6 billion - **12-Month Target Price**: HK$53.50, current price HK$40.78, implying 31.2% upside potential [1][4][7] Key Financial Highlights - **3Q25 Revenue**: Grew by 22% year-over-year (yoy) to Rmb46.0 billion, exceeding expectations [1][28] - **Adjusted Net Profit**: Increased by 81% yoy, driven by higher AIoT gross profit margin (GPM) and investment gains [1] - **Smartphone Revenue**: Declined by 3% yoy, with total shipments of 43.3 million units [28] - **AIoT Revenue**: Grew by 6% yoy to Rmb27.6 billion, with GPM increasing by 3.2pp yoy to 23.9% [47] Core Themes from Management 1. **Smartphones**: - Focus on increasing average selling price (ASP) and market share in 2026 despite rising memory costs and declining industry shipments [2] - GPM forecasted at 10.1% for 4Q25 and 8.8% for 2026 [18][37] - Market share in China increased to 14.9% in 3Q25 [28] 2. **AIoT**: - Prioritizing profitability over growth, with overseas revenue expected to drive growth [2] - Connected devices reached over 1 billion, with a 20% yoy increase [47] 3. **Electric Vehicles (EV)**: - Achieved an IFRS net profit of Rmb0.7 billion in 3Q25, with a full-year delivery target of 350,000 units [2] - Increased shipment forecast to over 400,000 units in 2025 [19] 4. **Artificial Intelligence (AI)**: - Released multiple multi-modal large language models (MLLMs) to enhance smart home capabilities [2] 5. **New Retail Strategy**: - Focus on operational efficiency and store optimization in China, with continued expansion of Mi Home stores overseas [2] Financial Forecasts - **Revenue Forecasts**: 2025E revenue expected at Rmb365.9 billion, with slight adjustments for 2026E and 2027E [3][16] - **Net Profit Forecasts**: Adjusted down by 4-5% for 2026E-27E due to smartphone GPM pressure [3] - **EPS Growth**: Expected to grow from Rmb1.07 in 2025E to Rmb2.23 in 2027E [16] Valuation Insights - **Valuation Metrics**: - P/E ratio projected at 16.6x for 2024, increasing to 23.3x in 2025E [13] - Free cash flow yield expected to decline from 7.2% in 2024 to 2.1% in 2026E [13] - **SOTP Valuation**: Target price of HK$53.5 based on sum-of-the-parts analysis, with significant contributions from smartphones, AIoT, and EV segments [20] Risks and Considerations - **Market Conditions**: Potential challenges from rising memory costs and competitive pressures in the smartphone market [18][37] - **AIoT Growth**: Domestic sales pressure noted during Singles' Day, with expectations for growth primarily from overseas markets [19] - **EV Segment**: Continued focus on new models and manufacturing capacity to meet growing demand [19] Conclusion - **Investment Recommendation**: Maintain a "Buy" rating with a favorable risk-reward outlook for investors, despite potential near-term challenges [19][20]