同比增长10.6%我们在中国大陆手机越火用户也达到了1.6个亿同比增长9.7%为我们的互联网业务的增长带来了强劲的动力未来我们将持续建设安全高效的全球经营平台我们也会开始探索小米机家模式在国际市场 为我们多个品类的IoT以及我们的汽车未来的出发建立一个基础也是对我们国际未来发展的都路铺了一个很好的基础在汽车的业务也说一下汽车业务因为我们在今年的3月28号我们发布了首款电动汽车是一个C级高性能的生态科技小车我们叫小米舒契 在我们推出之前,我们是通过一系列的消费者公策力,也是我们自己的产品力,以及我们做到了端到端的全策资源,通过各种各种的初试,成为了一个百万网友严选的一辆好车。我们也公告了这个数字,截至4月31日。 我们的书期的首月所单量达到88063台我们在4月首月交付了7058台5月15日我们完成了第一万台的交付所以完成了我们对用户的承诺就是发布及上市上市及交付 交付及上量为了满足了我们的用户的提前交付的强烈需求我们的工厂 也是在全力提速我们在Pro版已经在5月18日开始交付比我们预计的时间提前了十多天同时我们在商周四也说了我们会计划在6月开始提拉到双班生产我们有信心在6月份当月交付超过1万台我们也说了我们确 ...

同比增长10.6%我们在中国大陆手机越火用户也达到了1.6个亿同比增长9.7%为我们的互联网业务的增长带来了强劲的动力未来我们将持续建设安全高效的全球经营平台我们也会开始探索小米机箱模式在国际市场 为我们多个品类的IoT以及我们的汽车未来的出发建立一个基础也是对我们国际未来发展的都路铺了一个很好的基础在汽车的业务也说一下汽车业务因为我们在今年的3月28号我们发布了首款电动汽车是一个C级高性能的生态科技脚车我们叫小米舒契 在我们推出之前,我们是通过一系列的消费解冻策例,也是我们自己的产品例,以及我们做到了端到端的全策资源,通过各种各种的测试,成为了一个百万网友严选的一辆好车。我们也公告了这个数字,截至4月31日。 我们的书期的首月所单量达到88063台我们在4月首月交付了7058台5月15日我们完成了第一万台的交付所以完成了我们对用户的承诺就是发布及上市上市及交付交付及上量为了满足了我们的用户的提前交付的强烈需求我们的工厂 也是在全力提速我们在Pro版已经在5月18日开始交付比我们预计的时间提前了十多天同时我们在商周四也说了我们会计划在6月开始提拉到双班生产我们有信心在6月份当月交付超过1万台我们也说了我们确保 ...

Financial Data and Key Metrics - Revenue for Q1 2024 reached JPY75.5 billion, a 27% year-on-year growth [5] - Adjusted net profit was JPY6.5 billion, a 100.8% year-on-year increase [5] - Gross profit margin grew to 20.3% [5] - Cash resources stood at JPY127.3 billion [5] - Core profit achieved new highs [5] Business Line Data and Key Metrics - Smartphone business accounted for 61% of total revenue, with a 3.6% year-on-year growth [13] - IoT business revenue was JPY20.4 billion, up 21% year-on-year, with gross margin improving to 19.9% [14] - Internet services revenue reached JPY8 billion, a 45% year-on-year increase [15] - Overseas Internet business grew by 40%, contributing RMB2.5 billion [15] Market Data and Key Metrics - In the Middle East, market share grew by 7.1% to 20.9% [6] - Africa market share reached 10.6%, up 4.5% [6] - Southeast Asia market share was 16.5%, while Latin America reached 15.3%, up 2% [6] - Xiaomi ranked top three in 63 countries and top five in 67 markets [5] Company Strategy and Industry Competition - Xiaomi EV business launched successfully, with over 7,500 deliveries in April and 10,000 by mid-April [7] - The company plans to expand Xiaomi Home stores to 20,000 by 2026 [10] - Premiumization strategy in Mainland China has been completed, targeting the 4,000 to 5,000 market sector [10] - Xiaomi aims to achieve 100% renewable power usage by 2035 and carbon neutrality by 2040 [16] Management Commentary on Operating Environment and Future Outlook - Despite external uncertainties, Xiaomi's business remains stable and efficient [4] - The company is confident in overcoming challenges such as rising core component costs [12] - Xiaomi expects to deliver excellent results in 2024 due to improved capabilities [12] Other Important Information - Xiaomi repurchased RMB2.25 billion worth of shares, exceeding the total for 2023 [15] - The company has set ESG targets, including 30% reduction in emissions by 2030 and 100% renewable energy usage by 2035 [16] Q&A Session Summary Question: Synergy between EV, smartphone, and IoT businesses [20] - Xiaomi leverages its experience in consumer electronics and technology to enhance EV business [21] - The company focuses on customer stickiness and ecosystem integration to drive synergies [22] Question: Smartphone gross margin and cost control [23] - Xiaomi manages cost pressures through strategic inventory management and product structure optimization [24] - The company's scale and efficiency help mitigate the impact of rising component costs [25] Question: New retail expansion and overseas Internet business growth [27] - Xiaomi plans to expand its retail stores to 20,000 by 2026, focusing on upgrading existing stores and improving efficiency [28] - Overseas Internet business growth is driven by increased shipments and new customer acquisitions [33] Question: IoT gross margin and overseas expansion [35] - Xiaomi's IoT strategy focuses on self-research and product optimization, leading to improved gross margins [36] - The company plans to expand IoT products globally, focusing on compliance and market matching [39] Question: EV business delivery challenges and gross margin [41] - Xiaomi faces delivery challenges due to high demand, with delivery times extending to 30 weeks [42] - The company aims to double productivity by June to meet delivery targets [43] - Gross margin for EV business is expected to be between 5% to 10%, with more accurate targets to be set in Q2 [60] Question: Smartphone premiumization and inventory levels [45] - Xiaomi's premiumization strategy has shown success, with market share growth in the 5,000 to 6,000 price segment [46] - Inventory growth is attributed to strategic stocking, founder edition EV production, and preparation for peak seasons [47] Question: Middle East market growth and AI strategy [49] - Xiaomi's Middle East market grew by 113.3%, driven by strategic adjustments and human resource optimization [50] - The company focuses on AI integration in products and manufacturing efficiency, with plans to leverage AI for future growth [55] Question: IoT channel strategies in North America and Japan [57] - Xiaomi's IoT strategy in overseas markets focuses on cost efficiency and value for money, leveraging its own network and local platforms [58]

Xiaomi Corporation Q1 2024 Results Announcement Disclaimer By attending the meeting where this presentation is made, or by reading the presentation materials, you agree to be bound by the following limitations: The information in this presentation has been prepared by representatives of Xiaomi Corporation (the "Company", and together with its subsidiaries, the "Group") for use in presentations by the Group and does not constitute a recommendation regarding the securities of the Group. No part of this presen ...

Financial Data and Key Metrics - Total revenue for 2023 was RMB271 billion, with adjusted net profit reaching RMB19.3 billion, a year-on-year increase of 126% [6] - Gross profit (GP) margin hit a record high of 21% in 2023, an increase of 4.2 percentage points year-over-year [6][17] - In Q4 2023, total revenue was RMB73.2 billion, with adjusted net profit of RMB4.9 billion, a year-on-year increase of 236% [6] - Core business profit in Q4 2023 was RMB7.3 billion, a year-on-year increase of 171% [6] - Operating cash flow in 2023 was RMB41.3 billion, significantly higher than the previous year, with cash reserves reaching a record high of RMB136.3 billion [22] Business Line Performance - Smartphone business revenue in 2023 was RMB157.5 billion, accounting for 58.1% of total revenue, with a gross margin of 14.6%, up 5.6 percentage points year-over-year [17][18] - IoT business revenue in 2023 was RMB80.1 billion, with a gross margin of 16.3%, increasing by 1.9 percentage points year-over-year [19] - Internet services revenue in 2023 was RMB30.1 billion, a year-on-year increase of 6.3%, with a gross margin of 74.2% [20] - Global monthly active users reached a record high of 641 million in December 2023, a year-on-year increase of 10.2% [12][20] Market Performance - In Q4 2023, global smartphone shipments increased by 7.5% year-on-year, marking a return to growth after seven consecutive quarters of decline [5] - Xiaomi ranked third globally in smartphone shipments in 2023, with a market share of 12.8% [18] - In China, Xiaomi's market share in the 4K to 6K price segment increased to 28% in Q4 2023, up 20.6 percentage points year-over-year [7] - Xiaomi's smartphone shipments ranked in the top three in 52 countries and regions globally in Q4 2023 [11] Strategic Direction and Industry Competition - Xiaomi's high-end strategy has shown success, with the Xiaomi 14 Series achieving a historical leap in the domestic high-end market [7] - The company launched the Human x Car x Home ecosystem strategy, integrating mobile phone capabilities into other product categories like wearables, laptops, and TVs [8] - Xiaomi Auto is set to launch soon, with plans to integrate car sales with the company's existing retail and digital infrastructure [10] - The company remains cautiously optimistic about 2024, expecting slight year-on-year growth in the global consumer market [5] Management Commentary on Operating Environment and Future Outlook - Management highlighted the challenging macroeconomic environment in 2023 but noted Xiaomi's steady growth and efficiency improvements [6] - The company expects 2024 to be a significant year with the launch of Xiaomi cars, high-end products, and continued expansion in international markets [16] - Xiaomi plans to maintain a steady and aggressive strategy in 2024, focusing on closing the gap with competitors like Samsung and Apple [16] Other Important Information - R&D investment in 2023 was RMB19.1 billion, a year-on-year increase of 19%, with R&D personnel accounting for 53% of the workforce [13] - Xiaomi repurchased over HKD1.5 billion worth of shares in 2023 and HKD1.9 billion in Q1 2024, totaling over RMB18 billion since the IPO [23] - The company received a gold-level ESG rating from EcoVadis, with its score increasing from 53 to 73 in 2024 [24] Q&A Session Summary Question: Expectations for smartphone shipments and competition in different markets [25] - Xiaomi expects slight growth in the smartphone market in 2024, with internal targets significantly higher than the industry average [26] - The company sees strong growth potential in emerging markets like Africa, Latin America, and Southeast Asia [27] Question: Success factors for high-end products and market outlook [25] - Xiaomi attributes its success in the high-end market to continuous investment in technology and product innovation [28] - The company aims to break into the 6K to 10K price range in China and expand its presence in overseas high-end markets [29] Question: Sales growth in Southeast Asia and AI strategy [33] - Xiaomi achieved 100% year-on-year sales growth in Southeast Asia in January 2024, driven by market research and strategic adjustments [34] - The company is collaborating with Google on AI functionalities while also developing in-house AI capabilities [35] Question: GP margin improvement and IoT growth expectations [37] - The improvement in GP margin is attributed to product mix optimization and declining costs of components like memory and screens [38] - Xiaomi expects strong growth in IoT categories like wearables and tablets in 2024, particularly in overseas markets [39] Question: Automotive business and ecosystem integration [45] - Xiaomi plans to launch its first car, the SU7, on March 28, 2024, with sales channels including Mi Home and 2S stores [46] - The company aims to integrate its automotive business into the Human x Car x Home ecosystem, enhancing customer stickiness and Internet services [46] Question: Future product pipeline and AI applications [48] - Xiaomi is developing multiple car models in parallel, with a focus on delivering a strong customer experience [49] - The company is embedding AI functionalities into its products, leveraging on-premise capabilities for cost efficiency and privacy protection [50] Question: Internet services profitability and competition in Latin America [50] - Xiaomi plans to improve Internet services profitability by enhancing customer experience and monetizing high-end users [51] - The company sees significant growth potential in Latin America and Africa, with market share increases in key regions [52] Question: R&D expenses and AI's role in profitability [59] - Xiaomi's R&D expenses in 2023 were RMB19.1 billion, with a CAGR growth of 35% over the past few years [60] - The company views AI as a positive factor for future profitability, with potential for new profit models and competitive advantages [61]

Andy Meng - Morgan Stanley Thompson Wu - UBS Huang Leping - Huatai Total revenue for Q3 reached RMB 70.9 billion. Year-on-year growth has been realized. We continue to deliver solid performance in profitability and net margin reaching RMB 6 billion, remarkable 183% year-on-year growth in the Q3 of 2023, excluding RMB 1.7 billion expenditures related to our smart EV business and other new initiatives. Our core business adjusted profit reached RMB 7.7 billion. In the meantime, we have also upgraded our strate ...

IMI nl Xiaomi Corporation Q2 2023 Results Announcement By attending the meeting where this presentation is made, or by reading the presentation materials, you agree to be bound by the following limitations: The information in this presentation has been prepared by representatives of Xiaomi Corporation (the "Company", and together with its subsidiaries, the "Group") for use in presentations by the Group and does not constitute a recommendation regarding the securities of the Group. No part of this presentati ...

For AI, in terms of application, we first need to launch continuously new products, enhance performance. For example, in Mi Home, we have many offerings. We have to do allocation arrangements for our products. Internally, we have a lot of AI applications. We have to consider through AI and our new product launch, there will be new plans. In the second quarter, R&D expenses were RMB4.6 billion, up 21% year-on-year. Moving to the bottom line. In the second quarter, our adjusted net profit was RMB5.1 billion, ...

Thank you, Mr. Lu. I would like to thank everyone for participating in our conference call. Just now, we have heard from Mr. Lu, as of May 21, 2023, our global MAU exceeded 600 million for the first time and reached a record high. We continuously enhance and refine our internet business operations. Included in our GHG goals is our plan to reduce greenhouse gas emissions from our main operating segments by at least 70% over 2021 levels by no later than 2030 followed by a 98% reduction from 2021 levels before ...

Financial Data and Key Metrics - Global smartphone market declined by 12% YoY in 2022 to below 1.2 billion units, a record low in the past nine years [4] - Mainland China's smartphone market dropped by 14% YoY in 2022 to below 300 million units, a record low in the last decade [4] - Xiaomi's R&D expenses reached RMB16 billion in 2022, with a CAGR of 38% from 2017 to 2022, and are expected to exceed RMB20 billion in 2023 [6] - Xiaomi's total revenue in 2022 was RMB280 billion, with an adjusted net profit of RMB8.5 billion, including RMB3.1 billion in expenses related to smart EV and other new initiatives [43] - Xiaomi's global smartphone shipments in 2022 were 150 million units, maintaining the number three position globally for the second consecutive year [52] Business Segment Performance - Smartphone revenue in 2022 was RMB167.2 billion, accounting for 60% of total revenue [20] - IoT and lifestyle products revenue in 2022 was RMB79.8 billion, accounting for 28% of total revenue, with 590 million connected IoT devices on the AIoT platform, up 36% YoY [22] - Internet services revenue in 2022 was RMB28.3 billion, accounting for 10% of total revenue, with overseas internet services revenue reaching RMB6.8 billion, up 35% YoY [23][24] - Xiaomi's global smartphone ASP hit a record high of RMB1,111 in 2022 [21] Market Performance - Xiaomi maintained a 13% global market share in smartphones in 2022, ranking third globally [14] - In Europe, Xiaomi maintained a 21% market share in 2022, ranking first in Spain with a 33% market share, second in Italy, and third in France and Germany [14] - In Mainland China, Xiaomi ranked first in the RMB3,000 to RMB4,000 price segment in Q4 2022 and first in the RMB4,000 to RMB5,000 price segment among Android smartphones in January 2023, with a 27% market share [13] Company Strategy and Industry Competition - Xiaomi's premiumization strategy has made significant progress, with brand loyalty exceeding 50% one month after product launch in 2022, ranking first among Android smartphone brands [12][13] - The company plans to invest over RMB100 billion in R&D from 2022 to 2026, focusing on hardware and software integration and premium smartphone development [6][7] - Xiaomi is focusing on prudent operations and localization strategies in key overseas markets, aiming to build a secure and efficient global operating platform [7] Management Commentary on Operating Environment and Future Outlook - The global smartphone industry faced challenges in 2022, including macroeconomic headwinds, rising inflation, foreign exchange fluctuations, and geopolitical tensions, leading to weakened consumer demand and excess inventory [11] - Xiaomi is cautiously optimistic about the market in 2023, expecting potential exchange rate stabilization and normalized inventory levels [19] - The company is undertaking a dual emphasis on scale and profitability, focusing on internal operating efficiency and risk management [50] Other Important Information - Xiaomi's overall gross profit margin in 2022 was 17%, above the previous five-year average of 15.2%, with smartphone gross margin at 9% and IoT and lifestyle products gross margin reaching a new annual high of 14.4% [25][26] - The company's total inventory in Q4 2022 was RMB50.4 billion, down 3.7% YoY and 4.8% QoQ [28] - Xiaomi repurchased 235 million shares in 2022, totaling HKD 2.8 billion, and continues to advance its ESG efforts, including carbon footprint management [60][61] Q&A Session Summary Question: Current inventory levels in overseas markets - Xiaomi's inventory in Q4 2022 was RMB50.4 billion, down 15% from the beginning of the year, with costs in Q4 at RMB28.4 billion, down from RMB31 billion in the middle of the year [33][34] Question: Impact of cost reduction and efficiency improvement on ASP - Xiaomi's ASP is expected to improve due to the premiumization strategy, with the Xiaomi 13 series performing well and contributing to higher ASP [37][69][70] Question: Outlook for internet business and gaming revenue in 2023 - Xiaomi expects growth in internet services, particularly in gaming, as the market shows signs of recovery and more users engage with gaming platforms [71][94] Question: Gross profit margin for smartphones in 2023 - Xiaomi expects smartphone gross margin to improve in 2023, with contributions from premiumization, cost-cutting, and potential exchange rate stabilization [75][97] Question: Plans for offline shops and integration with premiumization strategy - Xiaomi is focusing on integrating offline shops and improving efficiency, with premium products like the Xiaomi 13 series contributing significantly to GMV [76][78][98] Question: Impact of ChatGPT on Xiaomi's AIoT business - Xiaomi is closely following developments in AI, including ChatGPT, and has a team of 1,200 people working on AI technologies, with plans to integrate advanced capabilities into its products [116] Question: Risk exposure to recent financial market volatility - Xiaomi has no deposits with affected banks and works primarily with Tier 1 banks, maintaining a robust and stable capital management strategy [82][118]