XIAOMI(HK:01810) Xin Lang Cai Jing·2025-11-19 05:05Core Insights - Xiaomi Group reported a revenue exceeding 100 billion yuan for four consecutive quarters, with its automotive business achieving profitability for the first time in a single quarter [1] Group 1: Financial Performance - Revenue from mobile and AIoT (Artificial Intelligence of Things) reached 84.1 billion yuan, with smartphone revenue at 46 billion yuan, showing a continuous growth in shipment volume for nine consecutive quarters and maintaining a top-three position globally for 21 quarters [1] - IoT and consumer products generated 27.6 billion yuan, reflecting a year-on-year growth of 5.6% [1] - Internet services revenue was 9.4 billion yuan, up 10.8% year-on-year, with overseas internet revenue hitting a record high of 3.3 billion yuan [1] - The innovative business segment, including smart electric vehicles and AI, reported revenue of 29 billion yuan, marking a year-on-year increase of over 199%, with smart electric vehicle revenue at 28.3 billion yuan [1] Group 2: Automotive Business - Xiaomi's automotive division achieved a single-quarter operating profit of 700 million yuan for the first time [1] - Cumulative deliveries of Xiaomi vehicles exceeded 260,000 units in the first three quarters, with recent monthly deliveries surpassing 40,000 units in September and October [1] - The company aims to meet its annual delivery target of 350,000 units by the end of the week, although it anticipates a potential decline in gross margin next year due to industry-wide challenges [1] Group 3: Market Strategy - Xiaomi's high-end strategy is advancing, with significant market share gains in the high-end smartphone segment, achieving an 18.9% market share in the 4,000 to 6,000 yuan price range in mainland China, an increase of 5.6 percentage points year-on-year [2]