25 Apr 2024

Xiaomi held an Investor Day in Beijing on 23 Apr. Management reiterates their ambition of building their integrated “Human x Car x Home” ecosystem with the successful launching of SU7 on 28 Mar. Management also gives optimistic FY24 guidance with core business (excluded EV business) revenue exceeding Rmb300bn, representing 11% YoY growth and a stable core business operating margin. Total R&D expenses in FY24 are guided to reach Rmb24bn.

CROSBY Research – Xiaomi (1810 HK): Key takeaways from Xiaomi Investor Day