《大行報告》瑞信:小米(01810.HK)受累美投資禁令 但營運基本面仍鞏固
瑞信發表報告指,美國於1月14日將小米(01810.HK)列入與中國解放軍企業有關聯的名單,佔集團總股本13%的美國投資者,需於今年11月前撤回有關投資。而小米否認與中國軍方有聯繫,稱其產品及服務僅民用和商用,且集團仍在審視被列入黑名單的潛在後果,但預計其運營基本上不會有變。
該行表示,小米的供應鏈有望保持現狀,因軍事黑名單(與實體名單相反)不會阻止小米採購美國產品/技術,特別是集團與Google在操作系統上的合作保持不變。
瑞信提到,目前小米沒有參加5G基礎設施,在半導體領域亦沒有很大的參與,加上拜登政府將於本周三上場,因此認為集團不太可能受到進一步政治制裁。另外,預料小米在IDC即將發布的去年第四季智能手機數據中市佔繼續有增長。
該行維持對小米「跑贏大市」評級及目標價34.8元。
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