0620 GMT - Xiaomi's electric-vehicle business is likely to turn profitable in the third quarter thanks to strong sales, Bernstein analysts write in a note. Though the company's gross margin of its EV business could decline sequentially to 25% in the third quarter, due to a lower mix of the higher-margin SU7 Ultra, this is likely to be offset by the stronger sales, they say. The brokerage forecasts the total EV sales volume to reach close to 420,000 units this year. The company's phase 2 plant is still awaiting final approval, but the delivery ramp-up in recent months has been impressive and the company delivered around 49,000 units in October, they add. Bernstein maintains an outperform rating for the stock and cuts the target price to HK$57.00 from HK$60.00. Shares last at HK$43.98. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

November 12, 2025 01:20 ET (06:20 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.