0802 GMT - Xiaomi is likely to benefit from its Internet of Things business, according to Daiwa analysts John Choi and Candis Chan in a commentary. Xiaomi's IoT ecosystem includes a wide range of products, such as home appliance, health and lifestyle devices connected through its app. The business is likely to be driven by China's national subsidy programme in the near term, the analysts say. In the long term, expanding overseas and premiumizing products is likely to support the business growth and improve its gross margin. The analysts maintain a buy rating on the stock and raises its target price to HK$78.00 from HK$54.85. Shares are last traded at HK$56.90. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

June 24, 2025 04:02 ET (08:02 GMT)

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