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Citi has issued a research report highlighting that Xiaomi Corporation-W has, for the inaugural time, rolled out an updated version of its SU7 model. The pre-sale price for this new iteration has been raised by RMB 10,000 to RMB 14,000, equating to an approximate hike of 3.3% to 6.5%. This price adjustment is coupled with enhancements across various specifications. In light of these developments, Citi has established a target price of HK$50 for Xiaomi shares and bestowed a ‘Buy’ rating upon the company. Xiaomi’s management has hinted at a slim chance of the official launch price for the SU7 being set RMB 10,000 to RMB 20,000 below the pre-sale figure. Citi is of the opinion that the pre-sale of the refreshed SU7 model will act as a catalyst for order growth at Xiaomi, with future attention turning to the official unveiling of the SU7 and the debut of the YU7 GT.
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