0419 GMT - Xiaomi's core businesses likely remained resilient in 4Q of 2024, OCBC analysts write in a note. The company was a "star performer" last year as share prices more than doubled on year, they say. The strong share performance was driven by solid growth in its core businesses on resilient margins and stronger-than-expected EV business margins, they say. Xiaomi's smartphone segment gross profit margin may bottom out in 4Q with potential improvement ahead given higher average selling price and lower component cost, they add. OCBC maintains its buy rating for the stock with a fair value at HK$40.50. Shares last at HK$33.60.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 09, 2025 23:19 ET (04:19 GMT)
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