XIAOMI(HK:01810) Zheng Quan Shi Bao Wang·2025-08-19 10:57Core Insights - Xiaomi Group reported record-high financial results for Q2 2025, with revenue reaching 116 billion yuan, a year-on-year increase of 30.5%, marking the third consecutive quarter of over 100 billion yuan in revenue [1] - Adjusted net profit for the same period was 10.8 billion yuan, a significant year-on-year increase of 75.4%, continuing a trend of exceeding 10 billion yuan for two consecutive quarters [1] - The innovative business segment, including smart electric vehicles and AI, generated over 20 billion yuan in revenue, indicating a shift towards scalable growth [1] Financial Performance - Xiaomi's Q2 revenue was 116 billion yuan, up 30.5% year-on-year, with adjusted net profit at 10.8 billion yuan, up 75.4% [1] - The smartphone and AIoT segment generated 94.7 billion yuan in revenue, a 14.8% increase, with smartphone revenue at 45.5 billion yuan and IoT revenue at 38.7 billion yuan, up 44.7% [1][2] - Internet services revenue reached 9.1 billion yuan, reflecting a 10.1% year-on-year growth [1] Market Position - Xiaomi regained the top position in the domestic smartphone market with a market share of 16.8% and 11.5 million new device activations in Q2 [2] - The company maintained a strong international presence, ranking in the top three in 60 countries and regions, with continuous year-on-year growth in smartphone shipments [2] Product Performance - The smart home appliance segment saw significant growth, with smart air conditioning sales exceeding 5.4 million units, a year-on-year increase of over 60% [2] - The company’s high-end smartphone market share increased to 27.6%, with notable growth in the 4000-5000 yuan and 5000-6000 yuan price segments [3] Innovation and R&D - Xiaomi's R&D investment reached 7.8 billion yuan in Q2, a 41.2% increase, with an expected total investment of 30 billion yuan for the year [4] - The company launched its self-developed 3nm flagship chip, becoming the first in mainland China to do so, and introduced several high-end devices featuring this chip [5]