XIAOMI(HK:01810) Sou Hu Cai Jing·2025-08-20 02:58Core Insights - Xiaomi Group reported a significant increase in automotive business revenue, with a 230% year-over-year growth in the second quarter [1] - The company delivered 81,302 vehicles in Q2, a 197.7% increase compared to 27,307 vehicles in the same period last year [1] - The average selling price of Xiaomi vehicles rose by 10.9%, from 228,644 RMB to 253,662 RMB, primarily due to the delivery of the Xiaomi SU7 Ultra [1] Financial Performance - In Q2, Xiaomi Group's total revenue reached 115.96 billion RMB, a 30.5% increase year-over-year, marking the third consecutive quarter exceeding 100 billion RMB [6] - Adjusted net profit for the quarter was 10.83 billion RMB, a substantial increase of 75.4% year-over-year, continuing the trend of surpassing 10 billion RMB for two consecutive quarters [6] - Revenue from smart electric vehicles and AI-related businesses amounted to 21.3 billion RMB, with smart electric vehicle revenue alone at 20.6 billion RMB, up from 6.2 billion RMB in the same quarter last year [6] Business Outlook - The company aims to achieve a total delivery target of 350,000 Xiaomi vehicles for the year, with expectations for smart electric vehicles and AI innovations to become profitable on a quarterly basis in the second half of the year [5] - As of June 30, Xiaomi has established 335 automotive sales outlets across 92 cities in mainland China [5]