Bank of America Securities: Xiaomi Group-W (01810) YU7 pricing is roughly in line with the expected order winning SU7's target price of HK$66

The Zhitong Finance App learned that Bank of America Securities released a research report saying that Xiaomi Group-W (01810) recently held a “Full Ecological Conference for People and Cars”. Among them, the market focused on the pricing of YU7. The pricing of YU7, YU7 Pro and YU7 Max was 253,500 yuan, 279,900 yuan, and 329,000 yuan respectively. According to the bank, the price of the YU7 is roughly in line with expectations. Although the price of the Max version is slightly higher than its expected range of 250,000 to 300,000 yuan, the price performance is still better than the Tesla Model Y. However, within one hour of the launch of the YU7, it has received orders for more than 289,000 vehicles, which is better than the SU7's first-day order volume of about 89,000 units. The bank maintains a “buy” rating, based on strong electric vehicle momentum and steady smartphone and IoT growth; the target price is HK$66.