Core Insights - Xiaomi Group reported a total revenue of 1159.56 billion yuan for Q2 2025, a year-on-year increase of 30.5%, and a net profit of 108.31 billion yuan, up 75.4% year-on-year [2][3] Business Performance - Despite a challenging global smartphone market, Xiaomi's smartphone business achieved significant growth, with Q2 smartphone shipments reaching 42.4 million units, a 1.5% increase quarter-on-quarter [5][6] - Xiaomi's smartphone revenue for Q2 was 455.2 billion yuan, a decrease of approximately 10% from Q1 due to a decline in average selling price (ASP), which fell from 1210.6 yuan to 1073.2 yuan [5][6] - The company aims to enter the "200 million club" for annual smartphone sales, positioning itself alongside Apple and Samsung [3][10] Market Position - In the Southeast Asian market, Xiaomi's market share rose to 18.9%, ranking first, while in Europe, it regained the second position with a market share of 23.4%, surpassing Apple for the first time [6][7] - In the domestic market, Xiaomi's smartphone activation volume reached 11.5 million units, securing a market share of 16.8% [6][9] Revenue Breakdown - Xiaomi's smartphone and AIoT businesses remain the main revenue drivers, contributing 946.93 billion yuan in Q2, a year-on-year increase of 14.8%, accounting for 81.7% of total revenue [5][11] - IoT and lifestyle products revenue reached 387 billion yuan, up 44.7% year-on-year, while smart electric vehicles and AI-related businesses generated 213 billion yuan, a staggering 234% increase [12][13] Strategic Focus - The company is shifting its strategy from scale expansion to a focus on quality and profitability, emphasizing high-end products and ecosystem synergy for new growth opportunities [8][10] - Xiaomi's high-end smartphone sales accounted for 27.6% of total smartphone sales in Q2, an increase of 5.5 percentage points year-on-year [9][11] Future Outlook - Xiaomi is confident in achieving its annual revenue growth target of approximately 30%, driven by smartphone scale and high-end user growth, alongside steady growth in internet services and smart vehicles [13]