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    1810   KYG9830T1067

XIAOMI CORPORATION

(1810)
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Delayed Hong Kong Stock Exchange  -  04:08 2022-08-18 am EDT
11.64 HKD   -0.34%
08/16Hong Kong Hang Seng Index Declines 1.1%, Despite Property Sector Surge
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08/15Xiaomi Corporation Announces Change of Address of Principal Place of Business in Hong Kong
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08/15GiantOhm announced that it has received funding from Xiaomi Corporation
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Xiaomi Shares Rise as China's Smartphone Sales Show Signs of Improvement

06/27/2022 | 02:13am EDT

By Yifan Wang


Xiaomi Corp. shares rose sharply on Monday, amid growing hopes for a recovery in China's smartphone market from the country's latest surge in Covid-19 infections.

Shares of the Chinese smartphone maker gained as much as 13% to 13.84 Hong Kong dollars (US$1.76). The stock was last up 10% at HK$13.46.

The rise came after analysts from investment bank Jefferies noted initial signs of recovery in China's handset market in a research note early Monday. The analysts' estimates, based on official sales data, suggest that China's total smartphone shipment in May fell 9% compared with the same month a year earlier, a significant recovery from double-digit percentage declines in the previous four months.

"May shipment is down much less than previous months," the analysts said, "Another implication for a smaller decline in May handset shipment is that excess inventories have been largely cleared."

Still, Jefferies warned of remaining uncertainties and a weak overall market.

"While near-term inventory pressure could be less, let's not forget both May 2022 and year-to-date shipment volumes are the lowest in the last seven years," the bank's analysts said.


Write to Yifan Wang at yifan.wang@wsj.com


(END) Dow Jones Newswires

06-27-22 0212ET

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Analyst Recommendations on XIAOMI CORPORATION
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Financials
Sales 2022 317 B 46 705 M 46 705 M
Net income 2022 11 849 M 1 747 M 1 747 M
Net cash 2022 47 753 M 7 042 M 7 042 M
P/E ratio 2022 22,4x
Yield 2022 -
Capitalization 251 B 36 999 M 36 999 M
EV / Sales 2022 0,64x
EV / Sales 2023 0,54x
Nbr of Employees 33 793
Free-Float 58,6%
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Mean consensus OUTPERFORM
Number of Analysts 32
Last Close Price 10,10 CNY
Average target price 12,26 CNY
Spread / Average Target 21,4%
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Managers and Directors
Jun Lei Chairman & Chief Executive Officer
Xiang Wang President
Alain Lam Chief Financial Officer
Yan Qi SVP-Internal Operations & Public Affairs
Dong Sheng Chen Independent Non-Executive Director
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