0412 GMT - The sequential new order declines seen in Xiaomi's EV sector in April is likely due to negative impacts from its recent highway accident, Deutsche Bank Bin Wang writes in a note. The reduced advertising regarding autonomous driving for the month may have added pressure on new orders, he adds. The company is likely to launch its second factory in 2H25, expected to support sales of 50,000 to 150,000 units this year. DB expects Xiaomi's EV operation gross margin to likely to further rise to around 22% in the 1Q and for its full-year gross margin to increase to 24.7%. DB maintains a buy rating for the stock but raises its target price to HK$74.00 from HK$71.50. Shares last traded at HK$51.75. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 06, 2025 00:12 ET (04:12 GMT)
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