[Morgan Stanley: Xiaomi's Q2 Smartphone Shipments Exceed Expectations, 'Overweight' Rating Maintained] BlockBeats News, August 3 — Morgan Stanley released a research report stating that Xiaomi Corporation (01810.HK) will announce its second-quarter results for this year on August 18. Currently, it is expected that smartphone shipments and gross profit margin will perform strongly, with the group's quarterly total revenue anticipated to exceed 100 billion yuan and recurring net profit estimated at approximately 6 billion yuan. According to the latest data from Omdia, Xiaomi's Q2 smartphone shipments reached 31.2 million units, 15% higher than the firm's expectations. Benefiting from a record-high average selling price of products and resilient shipment volumes, the firm expects smartphone gross profit margin to remain above 8% in Q2, primarily reflecting the effect of passing on rising costs. The firm maintains an 'Overweight' rating for Xiaomi and a target price of HK$32. (Jin10)