$XIAOMI-W(01810)$ is on a sizzling hot uptrend. Its share price was up 6.3% on Wednesday. In the past 5 days Xiaomi is almost up 7%. Xiaomi has now risen 19.3% year todate and in 2023 Xiaomi has skyrocketed 74.3%.
In May, Xiaomi 's Q1 24 net profit and revenue beat expectations. This is due to stronger sales from its smartphone and Internet of Things and lifestyle product segments.
Xiaomi' s quarterly profit reached a record high of RMB 6.49 billion, doubling from a year earlier. It beat FactSet analysts forecast of RMB 5. 51 billion.
Xiaomi's quarterly revenue rose 27% to RMB 75.51 billion, beating analysts expectations of RMB 74.27 billion.
Xiaomi's smartphone sales rose 33% to RMB 46.5 billion. It shipped 40.6 million smartphone units globally in the first quarter.
Xiaomi's gross profit margin rose to 22.3% from 19.5% a year earlier and 21.2% in the previous quarter.
I am bullish on Xiaomi as I believe that it has lots of exponential growth ahead. It is certainly one of the best performing Chinese companies currently.
@TigerStars
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments