《大行》花旗降小米(01810.HK)今年經調整淨利潤預測 目標價微降至73元
花旗發表報告,指小米集團-W(01810.HK)近日舉行投資者日,管理層公布2025年收入及經調整淨利潤指引為增長逾30%及逾40%,對比市場預測分別增長33%及54%,並預期智能手機出貨量達到1.75億至1.8億部,產品均價增長3%至5%,對比該行預測為增長7%,IoT業務收入料增長逾30%。公司並透露小米汽車、AI及新業務可能於下半年扭虧為盈。
基於最新經營指引,花旗將小米2025年收入及經調整淨利潤預測下調0.8%及4.1%,大致維持2026及2027年預測不變,目前預測2025至2027年經調整淨利潤將按年增長67%、34%及27%;2025至2027年智能手機出貨量預測上調至1.77億、1.85億及1.93億部,目標價從73.5元微降至73元,評級「買入」。
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