Jul 07, 2021 08:35 AM (GMT+8) · EqualOcean
CITIC Securities research report pointed out that Xiaomi group has recently released two stock award plans for young engineers and core backbones to strengthen the incentive for talents and inject new momentum into the development of the company in the next decade. We believe that the Q2 volume of the company is expected to reach more than 50 million units, with the promotion of product mix competitiveness and continuous improvement of channels. The 618 promotion activities are limited to Chinese mainland, and the impact on gross margin of the company is limited. Looking forward to the whole year, we expect that Xiaomi's smartphone shipment is expected to be close to 200 million, IOT's product innovation and upgrading will promote the continuous growth, and the cumulative effect of the number of users will also help the growth of Internet business to improve quarter by quarter. The company's annual profit elasticity is still large, and the profit may exceed expectations. Maintain a "buy" rating on the company.

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