Xiaomi has officially submitted its second lineup of smart electric vehicles, the SkyNomad series, to the Ministry of Industry and Information Technology for approval. This new series comprises two models, the N70 and N90, which are smart, customizable, and large-space extended-range electric SUVs. They are designed to complement Xiaomi's existing SU7 and YU7 models, further diversifying its electric vehicle portfolio.

According to Goldman Sachs' projections, Xiaomi is poised to officially launch the SkyNomad series by the end of August. The investment bank estimates that deliveries will reach 110,000 units in 2026 and surge to 240,000 units in 2027. In an optimistic scenario, deliveries could potentially soar to around 500,000 units by 2027.

Furthermore, Goldman Sachs highlights that Xiaomi's advancements in the AI sector are being underestimated by the market. The company's large language model, MiMo, is currently processing an average of approximately 6 to 7 trillion tokens daily. With the introduction of the V2.5-Pro-UltraSpeed version, Xiaomi has started to showcase its pricing power in the AI domain.

Given these positive developments, Goldman Sachs reaffirms its 'Buy' recommendation for Xiaomi and maintains a 12-month target price of HK$40.