XIAOMI-小米集团-W(01810) - 2024 - 中期财报

Financial Performance - Revenue for the first half of 2024 reached 164,394.7 million, a 29.6% increase compared to the same period in 2023[12] - Operating profit for the first half of 2024 was 35,223.9 million, up 36.8% year-over-year[12] - Net profit for the first half of 2024 was 9,571.8 million, a slight decrease of 3.7% compared to the same period in 2023[12] - Total revenue for 2024 Q2 reached $164.4 billion, a 29.6% increase compared to$ 126.8 billion in 2023 Q2[31] - Operating profit for 2024 Q2 was $9.2 billion, up from$ 7.9 billion in 2023 Q2[29] - Net profit attributable to shareholders increased to $12.7 billion in 2024 Q2, compared to$ 8.4 billion in 2023 Q2[29] - Revenue for the six months ended June 30, 2024, reached $88,887,828, a significant increase from$ 67,354,908 in the same period in 2023[129] - Net profit for the first half of 2024 was $18,394,177, up from$ 14,161,016 in the first half of 2023[129] - Revenue for the period ending June 30, 2024, reached $173.2 billion, with a net income of$ 624.1 million[133] - Revenue for the period ending June 30, 2024, reached $60.7 billion, with a net income of$ 15.26 billion[134] - Revenue for the period ending June 30, 2024, was 5,021,874, compared to 21,430,534 in the same period in 2023[135] - Net profit for the period ending June 30, 2024, was 2,530,575, compared to 20,162,011 in the same period in 2023[135] - Revenue for Q1 2024 reached $63 billion, reflecting a 34% year-over-year growth[138] - Revenue for the period reached$ 54,207,368, showing an increase compared to the previous year's $51,432,588[153] - Revenue for the first half of 2024 reached 20,193,662, a significant increase compared to 9,845,910 in the same period of 2023[155] - Revenue for 2024 reached$ 88,887,828, showing a significant increase compared to $67,354,908 in 2023[164] - Total revenue for the first half of 2024 was$ 164,394,650, compared to $126,832,042 in the same period of 2023[165] - Net profit for the first half of 2024 was$ 35,223,894, an increase from $25,752,583 in the first half of 2023[165] - Revenue from AIoT segment increased to$ 50.36 million in Q2 2024, up from $44.35 million in Q2 2023, reflecting a growth of 13.5%[170] - Total revenue for Q2 2024 reached$ 51.52 million, compared to $44.42 million in Q2 2023, showing a 16% increase[170] - Net profit for Q2 2024 was$ 549,628, a significant rise from $71,223 in Q2 2023, marking a 671% increase[172] - Total revenue for the period ending June 30, 2024, was 6,922,241, compared to 7,932,192 for the same period in 2023[176] - Revenue for the period ending June 30, 2024, was RMB 25,450,645, showing a slight increase compared to RMB 25,193,143 in the same period last year[183] IoT and AIoT Segment - The company's IoT and lifestyle products segment achieved revenue of 11,901.8 million, a 14.2% increase year-over-year[12] - The company's AIoT platform connected devices reached 17 million units as of June 30, 2024[13] - The company plans to expand its AIoT ecosystem and enhance its smart home product offerings in the second half of 2024[13] - AIoT revenue reached 1,580 million, accounting for 29.6% of total revenue in 2024[14] - IoT platform connected devices increased by 25.6% year-over-year to 822.2 million as of June 30, 2024[15] - Xiaomi's AIoT platform active users reached 12,000 as of June 30, 2024[15] - Xiaomi's AIoT platform grew by 21.7% year-over-year in 2024, with smart home devices contributing 15.4% to the growth[18] - Xiaomi's AIoT platform connected devices reached 18,290 units, a 48.7% increase year-over-year as of June 30, 2024[16] - Xiaomi's AIoT platform achieved a 100% year-over-year growth in connected devices in the smart home category[16] - Xiaomi's AIoT platform achieved a 127% year-over-year growth in connected devices, reaching 1,410 million units as of June 30, 2024[18] - AIoT segment revenue reached 1,580 million, a year-over-year increase of 24.6%, with a gross margin of 21.7%[19] - IoT and lifestyle products revenue reached 471 million, a year-over-year increase of 20.6%, with a gross margin of 19.8%[21] - IoT and lifestyle products achieved a 100% year-over-year growth in certain categories, including smart home devices[21] - AIoT platform revenue reached 822.2 million, a year-over-year increase of 25.6%[22] - Monthly active users (MAU) of the AIoT platform reached 96.9 million, a year-over-year increase of 16.8%[22] - Revenue from smart home products grew by 45% year-over-year, reaching 4.0 billion[22] - Revenue from wearable devices increased by 35% year-over-year, reaching 1.1 billion[22] - Revenue from IoT and lifestyle products grew by 35% year-over-year, reaching 0.7 billion[22] - AIoT segment revenue grew to$ 158.0 billion in 2024 Q2, accounting for 96.1% of total revenue, up from $126.8 billion in 2023 Q2[32] - IoT and lifestyle products revenue increased to$ 47.1 billion in 2024 Q2, representing 28.7% of total revenue, compared to $39.1 billion in 2023 Q2[34] - Revenue from AIoT products increased by 22.4% to 1,238 million in 2024 compared to 1,011 million in 2023[42] - IoT and lifestyle products revenue rose by 16.2% to 378 million in 2024 from 325 million in 2023[45] - Total revenue from AIoT and lifestyle products reached 123,759.0 million, accounting for 75.3% of total revenue in 2024[43] - AIoT segment revenue increased to$ 34.24 billion in 2024, up 21.7% from $25.75 billion in 2023, with a margin improvement from 20.3% to 21.7%[48][49][50] - IoT platform and solutions revenue grew to$ 9.33 billion in 2024, up 19.8% from $6.56 billion in 2023, with margin expanding from 16.8% to 19.8%[51] - Smart home business revenue reached$ 12.45 billion in 2024, up 76.3% from $10.60 billion in 2023, with margin improving from 73.2% to 76.3%[51] - AIoT segment revenue growth reached 73% year-over-year, driven by IoT and smart device integration[161] - IoT and smart device revenue increased by 15% quarter-over-quarter, contributing significantly to overall growth[162] - The company plans to expand its AIoT ecosystem, focusing on IoT-enabled devices and smart home solutions[161] - New product launches in the AIoT segment are expected to drive a 20% revenue increase in the next fiscal year[162] - The company's IoT platform now supports over 10 million connected devices, a 25% increase from the previous quarter[161] - Revenue from smart home devices grew by 18% year-over-year, with a strong focus on energy-efficient solutions[162] - The company is investing$ 500 million in R&D for next-gen AIoT technologies, aiming for a 30% market share by 2025[161] - Strategic partnerships in the AIoT space are expected to contribute $200 million in additional revenue over the next two years[162] - The company's IoT-enabled industrial solutions saw a 22% increase in adoption, driven by demand for automation[161] - The AIoT segment is projected to account for 40% of the company's total revenue by the end of 2024[162] - IoT and AIoT segments contributed$ 50,812,668 (57.2%) to total revenue in 2024, up from $39,585,960 (58.8%) in 2023[167] - Revenue from IoT and AIoT segments in the first half of 2024 was$ 88,446,741 (53.8%), up from $72,077,944 (56.8%) in the same period of 2023[167] Smartphone Segment - Revenue from the smartphone segment was 9,242.9 million, up 17.3% compared to the first half of 2023[12] - The company's global smartphone market share increased to 17.3% in Q2 2024, up from 15.6% in Q2 2023[12] - Smartphone revenue grew by 30.8% year-over-year to 82.8 billion in 2024[15] - Xiaomi's global smartphone market share reached 14.2% in 2024[15] - Xiaomi's premium smartphone segment (priced above 3,000 RMB) revenue increased by 21.9% year-over-year[15] - Smartphone revenue rose to$ 93.0 billion in 2024 Q2, a 29.9% increase from $71.6 billion in 2023 Q2, with a 10.8% market share in global smartphone shipments[35] - Smartphone revenue grew by 28.2% to 805 million in 2024 from 628 million in 2023[44] - Smartphone shipments increased by 40.5% in 2024, with a market share of 69.0% in the global market[37] - Smartphone shipments in the second quarter of 2024 reached 16.1 million units, a year-over-year increase of 24.2%[22] - Smartphone ASP (Average Selling Price) slightly decreased to$ 1,123.7 in 2024 Q2 from $1,131.1 in 2023 Q2[35] - Smartphone shipments increased to 23 million units in 2024, up 379.8% from 5 million units in 2023, driven by new product launches and market expansion[58] - The company's global smartphone market share reached 21.4% in 2024, a year-over-year increase of 51.3%[18] R&D and Innovation - The company's R&D investment in the first half of 2024 reached 12,666.4 million, a 51.3% increase compared to the same period in 2023[12] - Xiaomi's R&D expenses for 2024 are projected to be between 3,000 to 6,000 million RMB[15] - R&D expenses for 2024 Q2 were$ 10.7 billion, up from $8.7 billion in 2023 Q2[29] - R&D expenses for new technologies and products reached$ 983.1 million in 2024, accounting for 15.4% of total revenue[48][51] - Total R&D investment in 2024 was $1.07 billion, up 22.9% from$ 870 million in 2023, driven by increased focus on AI and IoT technologies[52] - Research and development expenses increased to $5,497,729 in the first half of 2024, up from$ 4,554,803 in the first half of 2023[129] - Research and development expenses for new technologies and products amounted to $1.52 billion, representing a 15% increase from the previous year[134] - The company plans to invest$ 500 million in new technology R&D, focusing on AI and blockchain, by the end of 2024[123] - The company is investing heavily in R&D, with a 20% increase in R&D expenditure compared to the previous year, aiming to innovate in AI and machine learning technologies[178] - Research and development expenses for Q2 2024 were $1.71 million, up from$ 881,462 in Q2 2023, reflecting a 93.5% increase[173] Market Expansion and Strategy - The company plans to expand its product lineup with new models like Xiaomi MIX Fold 4, Xiaomi MIX Flip, and Redmi K70 Ultra[19] - The company is focusing on new strategies including market expansion, mergers and acquisitions, and technological innovation[19] - Overseas market expansion contributed $1.14 billion in revenue in 2024, up 32.6% from$ 860 million in 2023, with a focus on Southeast Asia and Europe[53] - Emerging market revenue grew to $270 million in 2024, up 38.8% from$ 230 million in 2023, driven by strategic partnerships and local adaptations[54] - The company plans to expand its market presence through new product launches and technological advancements, focusing on smart mobile solutions[60] - The company's investment in new technologies and market expansion strategies is expected to drive future growth, with a focus on smart mobile solutions[60] - The company's market expansion strategy resulted in a 10% increase in market share[72] - The company's new product launch contributed to a 48% increase in sales[76] - The company's customer base grew by 32% compared to the previous year[76] - The company is exploring mergers and acquisitions to strengthen its market position and drive future growth[157][159] - The company is focusing on improving its product offerings and user experience to drive higher engagement and retention rates[160] - The company plans to expand into three new international markets in the next fiscal year, targeting a 20% increase in global market share[134] - A new product line is expected to launch in Q4 2024, with projected revenue of $2.1 billion in the first year[134] - The company completed a strategic acquisition worth$ 446.2 million, aimed at enhancing its technological capabilities[134] - The company is focusing on expanding its market presence in Southeast Asia, with a projected revenue increase of 10% from this region by the end of 2024[178] - A new strategic partnership is expected to contribute an additional $200 million in revenue by the end of 2024, enhancing the company's market position[178] - The company is planning a major acquisition in the fintech sector, expected to close by the end of 2024, which will significantly enhance its service offerings[179] Electric Vehicle Segment - Xiaomi SU7 electric vehicle sales reached 27,367 units in 2024[15] - Xiaomi SU7 electric vehicle achieved 27,367 units delivered in the first half of 2024, with a target of 100,000 units by November 2024 and 120,000 units by the end of 2024[16] - Xiaomi SU7 achieved 27,367 units sold in the first quarter of 2024, with a target to reach 100,000 units by November 2024 and 120,000 units by the end of 2024[25] - Xiaomi SU7 Ultra is set to launch in October 2024, featuring a 0-100 km/h acceleration in 2.5 seconds and a range of 1,548 km[25] - Xiaomi plans to expand its OTA (Over-the-Air) updates for Xiaomi SU7, with NOA (Navigation on Autopilot) functionality expected to be available by August 2024[26] - Xiaomi SU7 is expected to receive a major OTA update in August 2024, enhancing its autonomous driving capabilities[26] - Xiaomi SU7 Ultra will feature advanced AIoT (Artificial Intelligence of Things) integration, targeting a 100% renewable energy supply chain by 2035[27] - Xiaomi SU7 is projected to achieve a 15.4% market share in the electric vehicle segment by the end of 2024[25] - Xiaomi SU7 Ultra will be equipped with V8s and V6s engines, targeting a 100% renewable energy supply chain by 2035[25] - The company's new electric vehicle, Xiaomi SU7, is expected to ship 27,367 units in 2024 with an ASP of 228,815[39] ESG and Sustainability - Xiaomi aims to achieve 100% renewable energy usage in its operations by 2035 and 100% carbon neutrality in its supply chain by 2040[27] - Xiaomi's ESG (Environmental, Social, and Governance) initiatives include a commitment to reduce carbon emissions and achieve a 100% renewable energy supply chain by 2035[27] - Xiaomi's ESG performance in 2023 was recognized by Institutional Investor, ranking among the top 500 in ESG ratings[27] - ESG initiatives are projected to reduce carbon emissions by 30% by 2026, aligning with global sustainability goals[122] - Revenue from ESG-related initiatives increased by 15% year-over-year, reaching$ 1.2 billion[121] Product Launches and Features - Xiaomi MIX Fold 4 features a 2.0-inch outer screen with a 34% increase in screen-to-body ratio and a 16% improvement in battery life[20] - Xiaomi MIX Flip has a 4.01-inch outer screen and a 200% increase in battery capacity compared to previous models[20] - Redmi K70 series features MediaTek Dimensity 9300+ chipset and supports up to 24GB RAM and 1TB storage[20] - The company launched the Xiaomi Watch S4 Sport in July 202