Morgan Stanley: Xiaomi's Q2 smartphone shipments exceeded expectations, maintaining an "Overweight" rating

Odaily Planet Daily News According to a research report by Morgan Stanley, Xiaomi Group (01810.HK) will announce its second-quarter results on August 18. The bank currently expects strong smartphone shipments and gross margins, projecting quarterly total revenue of over RMB 100 billion and recurring net profit of approximately RMB 6 billion. According to the latest data from Omdia, Xiaomi's second-quarter smartphone shipments reached 31.2 million units, 15% higher than the bank's expectations. Benefiting from record-high average selling prices and resilient shipments, the bank expects smartphone gross margins to remain above 8% in the second quarter, mainly reflecting the pass-through effect of rising costs. The bank maintains an "Overweight" rating on Xiaomi with a target price of HKD 32. (Jin Shi)