Core Viewpoint - Xiaomi's stock price has continued to decline, dropping over 30% since reaching a peak of HKD 61.45 on June 27, despite a strong Q3 earnings report released the following day [2][3]. Financial Performance - Xiaomi Group reported total revenue of RMB 113.12 billion for Q3 2025, a year-on-year increase of 22.3%, surpassing market expectations of RMB 112.5 billion [3][5]. - Adjusted net profit reached RMB 11.31 billion, marking an 80.9% increase year-on-year and setting a historical high [3][5]. - Gross profit rose by 37.4% to RMB 25.94 billion, with gross margin improving from 20.4% to 22.9% compared to the same period last year [8]. Business Segments - The smartphone and AIoT segment generated revenue of RMB 84.1 billion, reflecting a 1.6% year-on-year growth [5]. - The innovative business segment, including smart electric vehicles and AI, achieved a record revenue of RMB 29 billion, a remarkable 199.2% increase year-on-year, and recorded its first quarterly operating profit of RMB 700 million [6]. Challenges Ahead - Xiaomi Group's president, Lu Weibing, indicated that 2026 will present numerous challenges, including a reduction in purchase tax subsidies and increased competition in the automotive sector [9][10].
小米股价较6月最高点已跌超30%
Sou Hu Cai Jing·2025-11-19 02:42