Sou Hu Cai Jing·2025-03-25 14:28Core Viewpoint - Xiaomi Group has never issued dividends but is seeking to raise HKD 42.5 billion (approximately RMB 39.7 billion) through a share placement, leading to a significant drop in its stock price by 6.32% [3][5][7]. Financial Performance - For the fiscal year 2024, Xiaomi reported a revenue of RMB 365.9 billion, representing a year-on-year growth of 35% [7]. - Adjusted net profit for the same period was RMB 27.2 billion, an increase of 41.3% compared to the previous year [7]. - The smartphone segment generated revenue of RMB 191.8 billion, showing a growth of 21.8% and maintaining its position among the top three global smartphone manufacturers for 18 consecutive quarters [8]. - The IoT and lifestyle products segment surpassed RMB 100 billion in revenue for the first time, reaching RMB 104.1 billion, with a growth rate of 30% [8]. Business Segments - The smart home appliance sector saw significant growth, with air conditioning units shipped exceeding 6.8 million, a year-on-year increase of over 50% [8]. - The electric vehicle segment reported a total revenue of RMB 32.8 billion, with the Xiaomi SU7 series achieving a delivery volume of 136,854 units, surpassing the initial target of 100,000 units [9]. - Xiaomi's R&D expenditure for 2024 reached RMB 24.1 billion, reflecting a year-on-year increase of 25.9% [9].