Xiaomi Group-W (01810) will release its first-quarter results next Wednesday. Major banks have updated their ratings and target prices (table).

According to Zhitong Finance APP, Xiaomi Group (01810) will release its first-quarter results for this year next Wednesday (May 26). According to earlier research data from research firm IDC, the company's smartphone shipments in the first quarter of this year increased by nearly 65% year-on-year to 48.6 million units. Benefiting from the increasing premiumization of smartphone products, and based on forecasts from seven securities firms, the company's non-IFRS adjusted net profit for the first quarter of 2021 is expected to be between RMB 3.362 billion and RMB 4.566 billion, representing a year-on-year increase of 46.4% to 98.5% compared to RMB 2.3 billion in the first quarter of 2020. The median figure was RMB 4.162 billion, up 81% year-on-year.

According to forecasts from five securities firms, the company's profit forecast for the first quarter of 2021 is between RMB 3.368 billion and RMB 4.71 billion, an increase of 55.9% to 118% compared to the profit of RMB 2.16 billion in the first quarter of 2020. The median figure was RMB 3.613 billion, up 67.3% year-on-year. Brokerages expect the company's increased smartphone market share in the European market in the first quarter to offset the loss of market share in India. In addition, the company's shift to higher-end smartphones will improve revenue performance. Investors are expected to pay attention to competition from competitor Honor, the situation in the Indian market, and the company's guidance on expanding into new energy electric vehicles.