中金：小米集团1Q24智能手机出货量增长强劲，关注小米汽车交付节奏

中金公司05-08

预测1Q24 经调整净利润同比增长70.7%我们预计小米集团1Q24 经调整净利润将同比增长70.7%至55.21 亿元。关注要点1Q24 智能手机出货量增长强劲，料元器件涨价致毛利率环比有所下降。根据Canalys，1Q24 小米全球智能手机出货量同比增长33%至4,070 万台，市场份额同比提升3ppt至14%，位列全球第三。我们判断公司出货量强劲增长一方面系1Q23 去库存周期形成的低基数，...

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