Changes in Hong Kong stocks | Xiaomi Group-W (01810) rose more than 4%. Institutions are optimistic about marginal cost improvements and new car-driving effects in the second half of the year

The Zhitong Finance App learned that Xiaomi Group-W (01810) rose more than 4%, and its stock price increased by more than 13% this week. As of press release, it rose 4.32% to HK$28.96, with a turnover of HK$3.812 billion.

According to the news, Xiaomi achieved total revenue of 108.9 billion yuan in the second quarter, an increase of 9.9% over the previous quarter; adjusted net profit was 6.2 billion yuan, an increase of 2.4% over the previous quarter. Facing continued high prices for core components such as memory, the company actively reduced shipments, optimized product structure, and raised sales prices in the mobile phone business. Mobile ASP reached a record high, and the gross profit margin of 8.5% was better than market expectations.

CITIC Construction Investment said that in July, the company released the two Pengcheng N70 Max/N90 Max extended-range SUVs based on the Kunlun architecture. They are expected to be launched in September and are expected to become the core catalyst for the second half of the year. It is recommended to focus on product cycle opportunities brought about by the release of the Pengcheng series in September, as well as profit elasticity due to improved storage costs and vehicle scale effects. Cathay Pacific Haitong Securities also believes that the second half of the year may ushered in a fundamental inflection point due to expectations of marginal cost improvement plus new cars.