《大行報告》中金:小米12較小米11同版本降價300元人幣 穩紮穩打拓高端市場
中金發表報告,預計小米集團(01810.HK)新品發布有望帶動明年首季公司智能手機出貨量和高端市場市佔率提升,並看好智能汽車業務發展前景,維持對小米原有盈利預測不變,並維持「跑贏行業」評級和34元目標價。
該行表示,小米宣布全面對標蘋果(AAPL.US),發布了小米12、小米12Pro兩款手機,並推出準旗艦機小米12X。報告指,本次新款旗艦機主要超預期的地方在於標準版和Pro版每個型號均較小米11同版本降價300元人民幣(下同),發售價低於中金此前預期的與小米11持平的水平。
綜合考慮小米12及小米12Pro加量又降價,預計其出貨量有望超過小米11。而三款數字新機起售價分別3,199元、3,699元及4,699元,體現公司在3,000元以上的高端市場的打法進一步細化,有助於公司穩紮穩打持續拓展高端市場。
小米董事長雷軍表示,過去兩年公司約投入了220億元的研發費用,而在發布會上,他更新了公司的研發計劃,未來五年公司的研發投入將達到1,000億元。考慮公司在智能手機創新方向持續進步,同時公司預計智能汽車2024年上半年量產,中金認為小米在研發的持續投入具有長期價值。
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