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西奈山
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西奈山
西奈山
·
2024-11-05
$小米集团-W(01810)$
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西奈山
西奈山
·
2024-07-03
$小米集团-W(01810)$
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西奈山
西奈山
·
2023-11-23
$小米集团-W(01810)$
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西奈山
西奈山
·
2021-11-04
小米能做到达到目标!加油![强] [强]
大摩 :小米将受益中国智能手机需求复苏 小幅下调小米目标价6%至31.5港元
【摩根士丹利 :小米将受益中国智能手机需求复苏 小幅下调小米目标价6%至31.5港元】摩根士丹利报告称,预计中国智能手机的需求可能在明年恢复4%,小米将会是主要受益者。同时上调欧菲光评级至平配,认为智能手机需求的潜在复苏将帮助公司基本面转向。
大摩 :小米将受益中国智能手机需求复苏 小幅下调小米目标价6%至31.5港元
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西奈山
西奈山
·
2021-09-01
$老虎证券(TIGR)$
加油[开心] [开心]
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西奈山
西奈山
·
2021-08-27
强大的国人支持小米没有难成的事!加油吧![开心] [开心] 小米![开心] [开心]
小米季报点评:Q2盈利超市场预期,渐进布局汽车业务
小米2021Q2实现收入878亿元,同比+64.0%;调整后净利润63亿元,同比+87.4%,业绩表现显著超越市场一致预期。基于公司智能手机产品组合竞争力的提升以及海外运营商渠道的快速拓展,Q2小米全
小米季报点评:Q2盈利超市场预期,渐进布局汽车业务
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西奈山
西奈山
·
2021-08-24
小米加油!强大的中国人支持你,一定会超过苹果!![开心] [开心]
非常抱歉,此主贴已删除
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西奈山
西奈山
·
2021-08-19
相信小米!坚持小米![开心] [开心]
*高盛维持小米(01810)买入评级 目标价续看33港元
凤凰网港股|高盛维持小米(01810)买入评级,目标价续看33港元。
*高盛维持小米(01810)买入评级 目标价续看33港元
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西奈山
西奈山
·
2021-08-16
小米加油![开心] [开心]
大批骁龙898旗舰手机已备案,又是小米首发
据网友爆料,现在已经有一大波sm8450(骁龙898)新机入网备案了,目前首发机型暂定排期会在12月中旬。暗示小米12或将担任首发骁龙898的机型。骁龙898的单核跑分为1250左右、多核4000左右,相比骁龙888再次带来大幅升级。据悉骁龙898将配备三丛集CPU的设计,其中超大核心频率达3.09GHz,大核心频率为2.4GHz,小核心频率为1.8GHz,其中3.09GHz的大核心将采用全新一代Cortex-X2设计,安兔兔跑分可能将首次突破百万。(7746872)
大批骁龙898旗舰手机已备案,又是小米首发
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西奈山
西奈山
·
2021-08-02
这篇文章不错,转发给大家看
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[强]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848603014","repostId":"2180766108","repostType":2,"repost":{"id":"2180766108","kind":"highlight","pubTimestamp":1635987360,"share":"https://www.laohu8.com/m/news/2180766108?lang=&edition=full","pubTime":"2021-11-04 08:56","market":"hk","language":"zh","title":"大摩 :小米将受益中国智能手机需求复苏 小幅下调小米目标价6%至31.5港元","url":"https://stock-news.laohu8.com/highlight/detail?id=2180766108","media":"网易","summary":"【摩根士丹利 :小米将受益中国智能手机需求复苏 小幅下调小米目标价6%至31.5港元】摩根士丹利报告称,预计中国智能手机的需求可能在明年恢复4%,小米将会是主要受益者。同时上调欧菲光评级至平配,认为智能手机需求的潜在复苏将帮助公司基本面转向。","content":"<html><body><div>\n<p><img border=\"0\" height=\"276\" src=\"https://webquoteklinepic.eastmoney.com/GetPic.aspx?nid=116.01810&imageType=k&token=28dfeb41d35cc81d84b4664d7c23c49f&at=1\" width=\"578\"/></p><p> <span><a href=\"https://laohu8.com/S/MS\">摩根士丹利</a></span><span></span>报告称,预计中国智能手机的需求可能在明年恢复4%,小米将会是主要受益者。同时上调<span><a href=\"https://laohu8.com/S/002456\">欧菲光</a></span><span></span>评级至平配,认为智能手机需求的潜在复苏将帮助公司基本面转向。</p>\n<p> 该机构认为,在若干风险因素下,小米仍处于复苏的最佳位置。公司与<span>电信运营</span><span></span>商的密切合作以及线下的持续扩张,将会缓解投资者对其面对荣耀手机挑战的担忧,并重拾小米在中国市场份额提升的信心;小幅下调小米目标价6%至31.5港元。同时<span target=\"_blank\" web=\"1\">摩根士丹利</span>上调<span target=\"_blank\" web=\"1\">欧菲光</span>目标价15%至7.8元。</p><p>(文章来源:<span><a href=\"https://laohu8.com/S/NTES\">网易</a></span><span></span>)</p>\n</div></body></html>","source":"eastmoney_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>大摩 :小米将受益中国智能手机需求复苏 小幅下调小米目标价6%至31.5港元</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n大摩 :小米将受益中国智能手机需求复苏 小幅下调小米目标价6%至31.5港元\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-04 08:56 北京时间 <a href=http://hk.eastmoney.com/a/202111042169439976_0.html><strong>网易</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>摩根士丹利报告称,预计中国智能手机的需求可能在明年恢复4%,小米将会是主要受益者。同时上调欧菲光评级至平配,认为智能手机需求的潜在复苏将帮助公司基本面转向。\n 该机构认为,在若干风险因素下,小米仍处于复苏的最佳位置。公司与电信运营商的密切合作以及线下的持续扩张,将会缓解投资者对其面对荣耀手机挑战的担忧,并重拾小米在中国市场份额提升的信心;小幅下调小米目标价6%至31.5港元。同时摩根士丹利上调...</p>\n\n<a href=\"http://hk.eastmoney.com/a/202111042169439976_0.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/24fa8350588843d92f819ac12ab5ce16","relate_stocks":{"01810":"小米集团-W"},"source_url":"http://hk.eastmoney.com/a/202111042169439976_0.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2180766108","content_text":"摩根士丹利报告称,预计中国智能手机的需求可能在明年恢复4%,小米将会是主要受益者。同时上调欧菲光评级至平配,认为智能手机需求的潜在复苏将帮助公司基本面转向。\n 该机构认为,在若干风险因素下,小米仍处于复苏的最佳位置。公司与电信运营商的密切合作以及线下的持续扩张,将会缓解投资者对其面对荣耀手机挑战的担忧,并重拾小米在中国市场份额提升的信心;小幅下调小米目标价6%至31.5港元。同时摩根士丹利上调欧菲光目标价15%至7.8元。(文章来源:网易)","news_type":1,"symbols_score_info":{"01810":1}},"isVote":1,"tweetType":1,"viewCount":3897,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":816253238,"gmtCreate":1630504809224,"gmtModify":1630504809224,"author":{"id":"3584062924373387","authorId":"3584062924373387","name":"西奈山","avatar":"https://static.tigerbbs.com/f758418a1214cda30f0694d1cc9b272a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584062924373387","authorIdStr":"3584062924373387"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$老虎证券(TIGR)$</a>加油[开心] [开心] ","listText":"<a href=\"https://laohu8.com/S/TIGR\">$老虎证券(TIGR)$</a>加油[开心] [开心] ","text":"$老虎证券(TIGR)$加油[开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/816253238","isVote":1,"tweetType":1,"viewCount":3715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":819367707,"gmtCreate":1630035484309,"gmtModify":1704954970849,"author":{"id":"3584062924373387","authorId":"3584062924373387","name":"西奈山","avatar":"https://static.tigerbbs.com/f758418a1214cda30f0694d1cc9b272a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584062924373387","authorIdStr":"3584062924373387"},"themes":[],"htmlText":"强大的国人支持小米没有难成的事!加油吧![开心] [开心] 小米![开心] [开心] ","listText":"强大的国人支持小米没有难成的事!加油吧![开心] [开心] 小米![开心] [开心] ","text":"强大的国人支持小米没有难成的事!加油吧![开心] [开心] 小米![开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/819367707","repostId":"2162709537","repostType":2,"repost":{"id":"2162709537","kind":"news","pubTimestamp":1630034151,"share":"https://www.laohu8.com/m/news/2162709537?lang=&edition=full","pubTime":"2021-08-27 11:15","market":"hk","language":"zh","title":"小米季报点评:Q2盈利超市场预期,渐进布局汽车业务","url":"https://stock-news.laohu8.com/highlight/detail?id=2162709537","media":"中信证券","summary":"小米2021Q2实现收入878亿元,同比+64.0%;调整后净利润63亿元,同比+87.4%,业绩表现显著超越市场一致预期。基于公司智能手机产品组合竞争力的提升以及海外运营商渠道的快速拓展,Q2小米全","content":"<p>小米2021Q2实现收入878亿元,同比+64.0%;调整后净利润63亿元,同比+87.4%,业绩表现显著超越市场一致预期。基于公司<a href=\"https://laohu8.com/S/5RE.SI\">智能</a>手机产品组合竞争力的提升以及海外运营商渠道的快速拓展,Q2小米全球智能手机出货量达5,290万台,同比增长86.8%,首次位居全球第二。展望全年,我们仍维持小米智能手机出货量接近2亿台的判断,预计IoT的产品创新和升级将推动持续增长,用户数的累积效应亦将帮助互联网业务增速逐季提升。我们维持对公司的“买入”评级。</p>\n<p>业绩概况:业绩显著超越市场一致预期,总收入和经调整净利润创季度新高。2021Q2,小米实现收入878亿元,同比+64.0%;调整后净利润63亿元,同比+87.4%;毛利率17.3%,同比+2.9pcts。公司2021Q2的业绩表现显著超越市场一致预期,主要缘于智能手机出货量快速增长、毛利率相对稳定,以及互联网服务的收入增速持续回升。</p>\n<p>智能手机:小米首次成为全球第二大智能手机厂商,盈利能力维持相对稳定。2021Q2公司智能手机收入591亿元,同比+86.8%,全球出货量达5,290万台,同比增长86.8%,市场份额提升到16.7%(同比+6.6pcts、环比+2.6pcts),首次位居全球第二。公司产品高端化持续突破,2021年Q2,小米在中国大陆地区定价在3,000-4,000元、4,000-5,000元以及5,000元以上价格段的智能手机市场份额,同比分别净增8.4pcts、4.1pcts和3.6pcts;2021年H1,小米在中国大陆地区定价在3000元以上及境外定价在300欧元以上的智能手机全球出货量超过1,200万台,超过2020年全年的约1,000万台。国内渠道方面,公司线上渠道在“618”期间全平台销售额突破190亿元,同比增长90%,包揽全平台安卓手机品牌销量第一,获得<a href=\"https://laohu8.com/S/JD\">京东</a>/天猫4000-5000元价位段安卓手机销量第一;同时,截至6月30日,小米在中国大陆的零售店总数突破7,600家,较3月底新增超3,100家,小米在中国大陆线下渠道的出货量份额亦由Q1的7.0%提升至Q2的7.8%。海外渠道方面,21Q1,公司在除印度外的境外市场运营商渠道的出货量接近1,200万台,同比增速超过300%;根据Canalys,公司在西欧地区运营商渠道的智能手机市场份额由21Q1的11.3%进一步上升至21Q2的14.2%。毛利率方面,由于中国大陆地区的部分促销活动,公司手机业务的毛利率环比小幅下降至11.8%,同比+4.6pcts、环比-1.1pcts。我们预期,公司的产品高端化和产品组合升级仍将继续,从县城到乡镇的渠道下沉有望高效推进,智能手机的综合竞争力有望持续提升,全年有望实现接近2亿台的销量和较好的盈利水平。</p>\n<p>AIoT:产品创新和升级持续推进,海外市场持续高速增长。2021Q2公司IoT收入207亿元,同比+35.9%;毛利率12.0%,同比+1.8pcts、环比-1.3pcts。其中,智能电视和笔记本电脑收入60亿元,同比+25.0%;其他IoT收入为147亿元,同比+41.0%。新品方面,公司4月发布了小米第二代AI音箱,5月发布了小米降噪耳机FlipBuds Pro、小米笔记本Pro15锐龙版、米家扫地 <a href=\"https://laohu8.com/S/300024\">机器人</a> 2C、RedmiBook Pro15锐龙版、Redmi降噪耳机AirDots3Pro,6月继续发布了米家新风空调大1P、黑鲨冰封制冷背夹2磁吸版、小米全自动智能门锁Pro、小米笔记本Pro X15等。“618”期间,公司电视品类包揽全平台销量/销额第一,新风空调品类包揽全平台销量/销额第一,智能手环、小米盒子、智能门锁、WIFI6路由器等AIoT品类包揽全平台158项第一。海外IoT方面,基于公司在海外品牌影响力和渠道能力提升,滑板车、智能电视、智能手环、智能手表等品类持续畅销,收入同比增长93.8%。综上,我们预期,在疫情后经济持续复苏的背景下,伴随着公司产品创新升级、品牌影响力提升和境外市场拓展,IoT业务有望维持快速增长。</p>\n<p>互联网:MAU有望逐季提升,高端化助推ARPU增长。公司2021Q2实现互联网收入70亿元,同比+19.1%;毛利率74.1%,同比+13.9pcts、环比+1.7pcts。基于国内手机用户的变现收入,仍是公司互联网业务的最主要构成。2021Q2公司国内MIUI MAU达到1.24亿,环比增加530万、同比增加1,430万,国内手机销量增长逐步传导到月活跃用户量的增长,有望推动互联网服务收入增速的持续回升。此外,公司在西欧、拉美地区的用户快速增长,MIUI MAU分别同比增长超过60%和125%,2021Q2实现海外互联网收入11亿元,同比+96.8%,在互联网收入中的占比达到15.6%。毛利率方面,毛利率更高的广告业务收入达到45亿元、同比+46.2%,而毛利率低的游戏和互联网金融业务占比下滑,导致整体毛利率提升。参考主要互联网公司一季度业绩以及指引,我们判断,在线广告2021年有望在经济复苏以及基数效应带动下实现20%以上的同比增长,小米亦将因此受益。我们预期,基于经济和广告市场的恢复、公司的国内和欧洲用户的持续增长、高端化的持续推进,互联网业务的增速有望逐季回升。</p>\n<p>造车业务:宣布收购深动科技,开放相关岗位招聘。8月25日,公司公告宣布对于自动驾驶技术公司深动科技的收购协议,总交易金额约为7737万美元,其中2440万美元将以现金偿付,其余则发行代价股份支付。完成交易后,深动科技将成为小米全资附属公司。根据公告,深动科技是一家自动驾驶技术公司,专注于提供高级驾驶辅助系统(ADAS)的感知、定位、规划及控制的算法,以及自动驾驶应用的全套软件解决方案,本次收购将加速小米智能汽车技术领域的进展。目前,公司自动驾驶部门已开始招聘,首批招募500名自动驾驶技术人才,自研L4级智能驾驶能力,6月11日-8月12日间已经收到超过20,000份申请。</p>\n<p>风险因素:芯片缺货风险;国内智能手机竞争进一步加剧的风险;线下渠道销量增长不达预期以及库存积压的风险;高端手机销量不达预期的风险;智能家居渗透率提升不达预期的风险;海外AIoT增长不及预期的风险;AIoT网络安全性出现恶性事故的风险;海外数据和隐私政策监管等风险;广告业务不及预期的风险;金融科技业务恢复不达预期的风险;增发或高管减持导致市场情绪大幅波动的风险等;股权激励计划进展/效果不及预期等。</p>\n<p>投资建议:展望全年,我们仍维持小米智能手机出货量接近2亿台的判断,预计IoT的产品创新和升级将推动持续增长,用户数的累积效应亦将帮助互联网业务增速逐季提升。考虑到公司业务的进展及超预期的业绩表现,我们调整公司2021-2023年的收入预测为3,435/4,428/5,363亿元(原预测为3,415/4,403/5,340亿元),同比增速分别为39.7%/28.9%/21.1%(原预测分别为38.9%/28.9%/21.3%);调整公司2021-2023年Non-IFRS净利润的预测为208/258/297亿元(原预测为191/246/295亿元),同比增速分别为59.9%/23.8%/15.2%(原预测分别为46.5%/28.9%/20%)。我们持续看好公司的“手机×AIoT”的长期战略,结合2020-2023年30%左右的利润复合增速预测,给予2022年30倍的综合PE,维持目标价以及“买入”评级。</p>","source":"zxzqyj","collect":0,"html":"<!DOCTYPE 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n小米季报点评:Q2盈利超市场预期,渐进布局汽车业务\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-27 11:15 北京时间 <a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202108261830357c33fb52&s=b><strong>中信证券</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>小米2021Q2实现收入878亿元,同比+64.0%;调整后净利润63亿元,同比+87.4%,业绩表现显著超越市场一致预期。基于公司智能手机产品组合竞争力的提升以及海外运营商渠道的快速拓展,Q2小米全球智能手机出货量达5,290万台,同比增长86.8%,首次位居全球第二。展望全年,我们仍维持小米智能手机出货量接近2亿台的判断,预计IoT的产品创新和升级将推动持续增长,用户数的累积效应亦将帮助互联网...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202108261830357c33fb52&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/aea2b9ab8a046974039715aed46d9985","relate_stocks":{"01810":"小米集团-W"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202108261830357c33fb52&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162709537","content_text":"小米2021Q2实现收入878亿元,同比+64.0%;调整后净利润63亿元,同比+87.4%,业绩表现显著超越市场一致预期。基于公司智能手机产品组合竞争力的提升以及海外运营商渠道的快速拓展,Q2小米全球智能手机出货量达5,290万台,同比增长86.8%,首次位居全球第二。展望全年,我们仍维持小米智能手机出货量接近2亿台的判断,预计IoT的产品创新和升级将推动持续增长,用户数的累积效应亦将帮助互联网业务增速逐季提升。我们维持对公司的“买入”评级。\n业绩概况:业绩显著超越市场一致预期,总收入和经调整净利润创季度新高。2021Q2,小米实现收入878亿元,同比+64.0%;调整后净利润63亿元,同比+87.4%;毛利率17.3%,同比+2.9pcts。公司2021Q2的业绩表现显著超越市场一致预期,主要缘于智能手机出货量快速增长、毛利率相对稳定,以及互联网服务的收入增速持续回升。\n智能手机:小米首次成为全球第二大智能手机厂商,盈利能力维持相对稳定。2021Q2公司智能手机收入591亿元,同比+86.8%,全球出货量达5,290万台,同比增长86.8%,市场份额提升到16.7%(同比+6.6pcts、环比+2.6pcts),首次位居全球第二。公司产品高端化持续突破,2021年Q2,小米在中国大陆地区定价在3,000-4,000元、4,000-5,000元以及5,000元以上价格段的智能手机市场份额,同比分别净增8.4pcts、4.1pcts和3.6pcts;2021年H1,小米在中国大陆地区定价在3000元以上及境外定价在300欧元以上的智能手机全球出货量超过1,200万台,超过2020年全年的约1,000万台。国内渠道方面,公司线上渠道在“618”期间全平台销售额突破190亿元,同比增长90%,包揽全平台安卓手机品牌销量第一,获得京东/天猫4000-5000元价位段安卓手机销量第一;同时,截至6月30日,小米在中国大陆的零售店总数突破7,600家,较3月底新增超3,100家,小米在中国大陆线下渠道的出货量份额亦由Q1的7.0%提升至Q2的7.8%。海外渠道方面,21Q1,公司在除印度外的境外市场运营商渠道的出货量接近1,200万台,同比增速超过300%;根据Canalys,公司在西欧地区运营商渠道的智能手机市场份额由21Q1的11.3%进一步上升至21Q2的14.2%。毛利率方面,由于中国大陆地区的部分促销活动,公司手机业务的毛利率环比小幅下降至11.8%,同比+4.6pcts、环比-1.1pcts。我们预期,公司的产品高端化和产品组合升级仍将继续,从县城到乡镇的渠道下沉有望高效推进,智能手机的综合竞争力有望持续提升,全年有望实现接近2亿台的销量和较好的盈利水平。\nAIoT:产品创新和升级持续推进,海外市场持续高速增长。2021Q2公司IoT收入207亿元,同比+35.9%;毛利率12.0%,同比+1.8pcts、环比-1.3pcts。其中,智能电视和笔记本电脑收入60亿元,同比+25.0%;其他IoT收入为147亿元,同比+41.0%。新品方面,公司4月发布了小米第二代AI音箱,5月发布了小米降噪耳机FlipBuds Pro、小米笔记本Pro15锐龙版、米家扫地 机器人 2C、RedmiBook Pro15锐龙版、Redmi降噪耳机AirDots3Pro,6月继续发布了米家新风空调大1P、黑鲨冰封制冷背夹2磁吸版、小米全自动智能门锁Pro、小米笔记本Pro X15等。“618”期间,公司电视品类包揽全平台销量/销额第一,新风空调品类包揽全平台销量/销额第一,智能手环、小米盒子、智能门锁、WIFI6路由器等AIoT品类包揽全平台158项第一。海外IoT方面,基于公司在海外品牌影响力和渠道能力提升,滑板车、智能电视、智能手环、智能手表等品类持续畅销,收入同比增长93.8%。综上,我们预期,在疫情后经济持续复苏的背景下,伴随着公司产品创新升级、品牌影响力提升和境外市场拓展,IoT业务有望维持快速增长。\n互联网:MAU有望逐季提升,高端化助推ARPU增长。公司2021Q2实现互联网收入70亿元,同比+19.1%;毛利率74.1%,同比+13.9pcts、环比+1.7pcts。基于国内手机用户的变现收入,仍是公司互联网业务的最主要构成。2021Q2公司国内MIUI MAU达到1.24亿,环比增加530万、同比增加1,430万,国内手机销量增长逐步传导到月活跃用户量的增长,有望推动互联网服务收入增速的持续回升。此外,公司在西欧、拉美地区的用户快速增长,MIUI MAU分别同比增长超过60%和125%,2021Q2实现海外互联网收入11亿元,同比+96.8%,在互联网收入中的占比达到15.6%。毛利率方面,毛利率更高的广告业务收入达到45亿元、同比+46.2%,而毛利率低的游戏和互联网金融业务占比下滑,导致整体毛利率提升。参考主要互联网公司一季度业绩以及指引,我们判断,在线广告2021年有望在经济复苏以及基数效应带动下实现20%以上的同比增长,小米亦将因此受益。我们预期,基于经济和广告市场的恢复、公司的国内和欧洲用户的持续增长、高端化的持续推进,互联网业务的增速有望逐季回升。\n造车业务:宣布收购深动科技,开放相关岗位招聘。8月25日,公司公告宣布对于自动驾驶技术公司深动科技的收购协议,总交易金额约为7737万美元,其中2440万美元将以现金偿付,其余则发行代价股份支付。完成交易后,深动科技将成为小米全资附属公司。根据公告,深动科技是一家自动驾驶技术公司,专注于提供高级驾驶辅助系统(ADAS)的感知、定位、规划及控制的算法,以及自动驾驶应用的全套软件解决方案,本次收购将加速小米智能汽车技术领域的进展。目前,公司自动驾驶部门已开始招聘,首批招募500名自动驾驶技术人才,自研L4级智能驾驶能力,6月11日-8月12日间已经收到超过20,000份申请。\n风险因素:芯片缺货风险;国内智能手机竞争进一步加剧的风险;线下渠道销量增长不达预期以及库存积压的风险;高端手机销量不达预期的风险;智能家居渗透率提升不达预期的风险;海外AIoT增长不及预期的风险;AIoT网络安全性出现恶性事故的风险;海外数据和隐私政策监管等风险;广告业务不及预期的风险;金融科技业务恢复不达预期的风险;增发或高管减持导致市场情绪大幅波动的风险等;股权激励计划进展/效果不及预期等。\n投资建议:展望全年,我们仍维持小米智能手机出货量接近2亿台的判断,预计IoT的产品创新和升级将推动持续增长,用户数的累积效应亦将帮助互联网业务增速逐季提升。考虑到公司业务的进展及超预期的业绩表现,我们调整公司2021-2023年的收入预测为3,435/4,428/5,363亿元(原预测为3,415/4,403/5,340亿元),同比增速分别为39.7%/28.9%/21.1%(原预测分别为38.9%/28.9%/21.3%);调整公司2021-2023年Non-IFRS净利润的预测为208/258/297亿元(原预测为191/246/295亿元),同比增速分别为59.9%/23.8%/15.2%(原预测分别为46.5%/28.9%/20%)。我们持续看好公司的“手机×AIoT”的长期战略,结合2020-2023年30%左右的利润复合增速预测,给予2022年30倍的综合PE,维持目标价以及“买入”评级。","news_type":1,"symbols_score_info":{"48708":0.9,"01810":0.9}},"isVote":1,"tweetType":1,"viewCount":6421,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3583526290379292","authorId":"3583526290379292","name":"美港股韭菜哥","avatar":"https://static.tigerbbs.com/b6e9481ed5028a5f55c875733d4b6fb7","crmLevel":2,"crmLevelSwitch":0,"idStr":"3583526290379292","authorIdStr":"3583526290379292"},"content":"买了1000股小米……瞅瞅能不能挣点","text":"买了1000股小米……瞅瞅能不能挣点","html":"买了1000股小米……瞅瞅能不能挣点"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":834150576,"gmtCreate":1629782537695,"gmtModify":1629782537695,"author":{"id":"3584062924373387","authorId":"3584062924373387","name":"西奈山","avatar":"https://static.tigerbbs.com/f758418a1214cda30f0694d1cc9b272a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584062924373387","authorIdStr":"3584062924373387"},"themes":[],"htmlText":"小米加油!强大的中国人支持你,一定会超过苹果!![开心] [开心] ","listText":"小米加油!强大的中国人支持你,一定会超过苹果!![开心] [开心] ","text":"小米加油!强大的中国人支持你,一定会超过苹果!![开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/834150576","repostId":"1108692541","repostType":4,"isVote":1,"tweetType":1,"viewCount":4011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":838092414,"gmtCreate":1629356642938,"gmtModify":1629356642938,"author":{"id":"3584062924373387","authorId":"3584062924373387","name":"西奈山","avatar":"https://static.tigerbbs.com/f758418a1214cda30f0694d1cc9b272a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584062924373387","authorIdStr":"3584062924373387"},"themes":[],"htmlText":"相信小米!坚持小米![开心] [开心] ","listText":"相信小米!坚持小米![开心] [开心] ","text":"相信小米!坚持小米![开心] 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Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8e87285f5f61644eaba65898e6ccf2bf","relate_stocks":{"01810":"小米集团-W"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202108190909497c3030c7&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2160756232","content_text":"凤凰网港股|高盛维持小米(01810)买入评级,目标价续看33港元。","news_type":1,"symbols_score_info":{"01810":1}},"isVote":1,"tweetType":1,"viewCount":3068,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":839372615,"gmtCreate":1629124437637,"gmtModify":1629124437637,"author":{"id":"3584062924373387","authorId":"3584062924373387","name":"西奈山","avatar":"https://static.tigerbbs.com/f758418a1214cda30f0694d1cc9b272a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584062924373387","authorIdStr":"3584062924373387"},"themes":[],"htmlText":"小米加油![开心] 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21:03","market":"hk","language":"zh","title":"大批骁龙898旗舰手机已备案,又是小米首发","url":"https://stock-news.laohu8.com/highlight/detail?id=2159215582","media":"中关村在线","summary":"据网友爆料,现在已经有一大波sm8450(骁龙898)新机入网备案了,目前首发机型暂定排期会在12月中旬。暗示小米12或将担任首发骁龙898的机型。骁龙898的单核跑分为1250左右、多核4000左右,相比骁龙888再次带来大幅升级。据悉骁龙898将配备三丛集CPU的设计,其中超大核心频率达3.09GHz,大核心频率为2.4GHz,小核心频率为1.8GHz,其中3.09GHz的大核心将采用全新一代Cortex-X2设计,安兔兔跑分可能将首次突破百万。(7746872)","content":"<html><body><article><p>据网友爆料,现在已经有一大波sm8450(骁龙898)新机入网备案了,目前首发机型暂定排期会在12月中旬。暗示小米12或将担任首发骁龙898的机型。</p><p>骁龙898的单核跑分为1250左右、多核4000左右,相比骁龙888再次带来大幅升级。</p><p>据悉骁龙898将配备三丛集CPU的设计,其中超大核心频率达3.09GHz,大核心频率为2.4GHz,小核心频率为1.8GHz,其中3.09GHz的大核心将采用全新一代Cortex-X2设计,安兔兔跑分可能将首次突破百万。</p><img src=\"http://inews.gtimg.com/newsapp_match/0/13889077561/0\"/><p>(7746872)</p></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n大批骁龙898旗舰手机已备案,又是小米首发\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-16 21:03 北京时间 <a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021081621043079e2226e&s=b><strong>中关村在线</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>据网友爆料,现在已经有一大波sm8450(骁龙898)新机入网备案了,目前首发机型暂定排期会在12月中旬。暗示小米12或将担任首发骁龙898的机型。骁龙898的单核跑分为1250左右、多核4000左右,相比骁龙888再次带来大幅升级。据悉骁龙898将配备三丛集CPU的设计,其中超大核心频率达3.09GHz,大核心频率为2.4GHz,小核心频率为1.8GHz,其中3.09GHz的大核心将采用全新一代...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021081621043079e2226e&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7e2ef4a4294363170f247fce5d7ae479","relate_stocks":{"01810":"小米集团-W"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2021081621043079e2226e&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2159215582","content_text":"据网友爆料,现在已经有一大波sm8450(骁龙898)新机入网备案了,目前首发机型暂定排期会在12月中旬。暗示小米12或将担任首发骁龙898的机型。骁龙898的单核跑分为1250左右、多核4000左右,相比骁龙888再次带来大幅升级。据悉骁龙898将配备三丛集CPU的设计,其中超大核心频率达3.09GHz,大核心频率为2.4GHz,小核心频率为1.8GHz,其中3.09GHz的大核心将采用全新一代Cortex-X2设计,安兔兔跑分可能将首次突破百万。(7746872)","news_type":1,"symbols_score_info":{"48657":0.6,"48708":0.6,"48717":0.6,"48736":0.6,"01810":1}},"isVote":1,"tweetType":1,"viewCount":3812,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":805871536,"gmtCreate":1627872677325,"gmtModify":1627872677325,"author":{"id":"3584062924373387","authorId":"3584062924373387","name":"西奈山","avatar":"https://static.tigerbbs.com/f758418a1214cda30f0694d1cc9b272a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584062924373387","authorIdStr":"3584062924373387"},"themes":[],"htmlText":"这篇文章不错,转发给大家看","listText":"这篇文章不错,转发给大家看","text":"这篇文章不错,转发给大家看","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/805871536","repostId":"2156362164","repostType":4,"isVote":1,"tweetType":1,"viewCount":4114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"defaultTab":"following","isTTM":false}