Citi: Maintains Xiaomi Group-W (01810) “Buy” Rating Target Price of HK$34

The Zhitong Finance App learned that Citi released a research report stating that it maintains the Xiaomi Group-W (01810) “buy” rating, with a target price of HK$34. Citi also anticipates that shipment data for the next few months and results for the third quarter of 2026 will be the next catalyst for stock prices.

The report mentioned that Xiaomi launched its latest flagship phones, the 18 Pro and 18 Pro Max series on September 18, equipped with the world's first batch of 2-nm Snapdragon 8 Elite/Extreme chips, equipped with a hardware-grade anti-peeping screen, an evolved AI multi-function back screen, larger 7,000mAh (Pro) and 8,500mAh (Pro Max) batteries, and a dual 200 megapixel Leica camera system. The starting price of the two phones is 5,999 yuan and 6,999 yuan respectively. The price is lower than that of rivals in the same class, but the specifications match or surpass the competition, and the cost performance is obvious.

According to the report, the retail volume of the Xiaomi 18 Fold increased 300% year-on-year during the initial sales period, indicating that its high-end folding phone products gained strong momentum in the market, reflecting consumers' recognition of the high-end Xiaomi brand. Citi believes that the launch of this new model has further strengthened Xiaomi's layout and cost performance position in the high-end market.