Morgan Stanley has issued a research report indicating that Xiaomi is set to announce its Q2 financial results for the current year on August 18. The total revenue for the quarter is anticipated to surpass RMB 100 billion, with a recurring net profit margin estimated at approximately RMB 6 billion. Xiaomi’s smartphone shipments for Q2 hit 31.2 million units, outperforming the bank’s projections by 15%. Additionally, the gross profit margin for smartphones is expected to stay above 8%. Morgan Stanley reaffirms its ‘Overweight’ rating for Xiaomi, setting a target price of HKD 32.