【环球网科技综合报道】11月18日，小米集团发布2025年第三季度业绩公告。公告数据显示，本季度小米集团业绩保持稳健增长态势： 单季营收1131亿元，同比增长22.3%；经调净利润113亿元，同比增长80.9%。前三季度，集团总营收3404亿元，接近去年全年水平；经 调净利润328亿元，超过2024年全年总额，整体经营韧性持续显现。 2025年Q3，小米多业务板块协同发力，推动整体业绩稳步提升。其中，手机×AIoT分部实现收入841亿元，仍是集团核心营收支柱；智能 电动汽车及AI等创新业务分部收入290亿元，同比增长超199%，成为重要增长引擎。 前三季度，小米研发投入累计达235亿元，接近2024年全年研发投入规模，预计2025年全年研发投入将超300亿元，技术创新对业务增长 的支撑作用持续增强。 Q3小米智能手机业务收入460亿元，全球出货量4330万台，连续9个季度实现同比增长。重点区域市场市占率稳步提升：拉美和中东地区 排名稳居第二，市占率分别为17.9%和16.9%；欧洲、东南亚和非洲地区排名第三，市占率分别同比提升0.5、1.2和0.9个百分点，达到 20.9%、16.7%和12.6%。Q3该板块 ...

Financial Performance - Xiaomi Group reported Q3 revenue of 113.1 billion yuan, a year-on-year increase of 22.3%, marking the fourth consecutive quarter of revenue exceeding 100 billion yuan [1] - Adjusted net profit reached 11.3 billion yuan, a significant increase of 80.9%, setting a new historical high [1] Business Segments - The mobile and AIoT segment generated revenue of 84.1 billion yuan, with a year-on-year growth of 1.6%, including smartphone, IoT, consumer products, and internet services [1] - Smartphone revenue was 46 billion yuan, with global smartphone shipments reaching 43.3 million units, achieving year-on-year growth for nine consecutive quarters [1] - IoT and consumer products revenue was 27.6 billion yuan, up 5.6% year-on-year, with a high approval rating for the newly launched washing machine [2] - Internet services revenue was 9.4 billion yuan, a year-on-year increase of 10.8%, with overseas internet revenue reaching 3.3 billion yuan, a historical high [2] Strategic Initiatives - Xiaomi is adopting a high-end strategy in response to rising memory costs, with the Xiaomi 17 series achieving approximately 30% higher sales compared to the previous generation [1][2] - The company has signed supply agreements with partners for the entire year of 2026 to mitigate supply issues related to rising memory prices [2] - Xiaomi's electric vehicle and AI innovation segment reported revenue of 29 billion yuan, with a year-on-year increase of over 199%, and the segment achieved operational profitability for the first time [3] R&D Investment - Xiaomi increased its R&D investment to 9.1 billion yuan in Q3, a year-on-year growth of 52.1%, setting a new historical high [3] - Cumulative R&D investment for the first three quarters reached 23.5 billion yuan, nearing the total planned for the entire year of 2024 [3]

Core Insights - Xiaomi Group reported a total revenue of 1131.21 billion yuan for Q3 2025, a year-on-year increase of 22.3% but a quarter-on-quarter decrease of 2.4% [2] - The net profit reached 122.57 billion yuan, up 129.5% year-on-year and 3.2% quarter-on-quarter [2] - The adjusted net profit was 113.11 billion yuan, reflecting an 80.9% year-on-year increase and a 4.4% quarter-on-quarter increase [2] Revenue Breakdown - Xiaomi delivered 108,796 new vehicles in Q3, with the smart electric vehicle and AI innovation segment generating 290 billion yuan in revenue, a 199.2% year-on-year increase, achieving a gross margin of 25.5% and a quarterly operating profit of 7 billion yuan [2][9] - The smartphone and AIoT segment revenue was 841 billion yuan, a 1.6% year-on-year increase, while smartphone revenue alone was 459.69 billion yuan, down 3.1% year-on-year [4] - The IoT and lifestyle products segment revenue reached 276 billion yuan, a 5.6% year-on-year increase, with a gross margin of 23.9% [6] Cost and Margin Analysis - The smartphone gross margin decreased to 11.1% from 11.7% year-on-year, attributed to intensified competition [4] - The average selling price (ASP) of smartphones fell by 3.6% to 1062.8 yuan [4] - R&D expenses surged to 91 billion yuan, a 52.1% year-on-year increase, with total R&D spending for the first three quarters reaching 235 billion yuan [2] Strategic Initiatives - Xiaomi is focusing on high-quality growth in its home appliance segment, with a strategy to avoid price wars and instead enhance product quality and ASP [6][7] - The company is expanding its IoT platform, which now connects over 1 billion devices, and plans to increase its overseas market presence in 2026 [6][7] - The new smart appliance factory, with an investment of over 2.5 billion yuan, is expected to enhance production capacity significantly [6] Future Outlook - The automotive segment is expected to face margin pressures in 2026 due to reduced subsidies and increased competition, despite achieving a gross margin of 25.5% in Q3 2025 [9] - The company anticipates a challenging smartphone market in the coming year, with significant upward pressure on retail prices [5]

Core Insights - Xiaomi reported a total revenue of 113.1 billion yuan for Q3 2025, representing a year-on-year growth of 22.3% but a quarter-on-quarter decline of 2.4% [2] - The adjusted net profit reached 11.3 billion yuan, marking a historical high with a year-on-year increase of 80.9% [2] - Gross margin improved to 22.9%, up by 2.5 percentage points year-on-year [2] - Cumulative revenue for the first three quarters reached 340.4 billion yuan, reflecting a year-on-year growth of 32.5% [2] Revenue Breakdown - The revenue from the smartphone and AIoT segment was 84.1 billion yuan, with smartphone revenue at 46 billion yuan, down 3.2% year-on-year, although shipment volume has increased for nine consecutive quarters [2] - AIoT and consumer products revenue was 27.6 billion yuan, showing a year-on-year growth of 5.6% [2] - Internet services revenue reached 9.4 billion yuan, up 10.8% year-on-year, with overseas internet revenue hitting a record high of 3.3 billion yuan [2] Market Performance - Smartphone shipments totaled 43.3 million units, marking nine consecutive quarters of year-on-year growth [2] - Xiaomi maintained a global market share of 13.6%, ranking in the top three for 21 consecutive quarters [2] - The electric vehicle and AI innovation segment achieved operational profitability for the first time in a single quarter, with a profit of 700 million yuan and a record delivery volume of 108,800 units [2] R&D and Capital Expenditure - R&D investment for Q3 was 9.1 billion yuan, a year-on-year increase of 52.1%, with a total of 23.5 billion yuan invested in the first three quarters [3] - The number of R&D personnel reached a record high of 24,871 [3] - Capital expenditure amounted to 5.38 billion yuan, significantly exceeding the estimated 2 billion yuan [3] Manufacturing Capabilities - Xiaomi has established three major smart factories covering smartphones, automobiles, and smart home appliances, enhancing its smart manufacturing capabilities across the "people, vehicles, and home" ecosystem [3]

11月18日，小米集团（HK01810）发布三季度业绩公告显示，公司单季营收1131亿元，同比增长 22.3%，连续4个季度突破千亿；经调净利润113亿元，同比大增80.9%，创历史新高。 智能电动汽车及AI等创新业务分部收入290亿元，同比劲增超199%。其中智能电动汽车收入283亿元， 其他相关收入7亿元，并且本季度小米汽车及AI等创新业务分部首次实现单季度经营收益转正，实现单 季经营收益7亿元。 高盛研报认为，从长远来看，小米稳健的资产负债表、强大的生态整合能力以及因规模和深度参与电动 汽车供应链而产生的成本优势，将提升其在电动汽车领域的竞争力和吸引力。 武汉智能家电工厂一期竣工投产 小米集团前三季总营收已达3404亿元，接近去年全年，经调净利润328亿元，已超去年总额。本季度小 米智能手机业务稳中有进，全球出货量4330万台，连续9个季度实现同比增长。国内方面，小米智能手 机销量连续6个季度稳居中国内地前二；国际市场方面，在57个国家和地区排名前三，68个国家和地区 排名前五。 具体来看，手机×AIoT分部收入841亿元。其中智能手机业务收入460亿元，出货量连续9个季度同比增 长，连续21个季度稳居 ...

小米透露，本季度小米手机全球出货量4330万台，连续9个季度同比增长。三季度，小米在中国大陆 4000元-6000元高端价位段销量市占率达18.9%，同比提升5.6个百分点。 IoT与生活消费产品业务板块收入276亿元，同比增长5.6%。截至9月30日，小米AIoT平台已连接IoT设 备数突破10亿台。 互联网服务业务收入达94亿元，同比增长10.8%，创历史新高，毛利率达到76.9%。截至2025年9月，小 米全球月活跃用户数达7.42亿、中国大陆月活跃用户达1.87亿。 智能电动汽车及AI等创新业务分部收入增至290亿元。第三季度，小米汽车单季交付量超10万台，创单 季度历史新高，推动汽车及AI等创新业务收入同比增长超199%。今年前三季度，小米汽车累计交付量 已超过26万台，9月、10月小米汽车连续2个月交付量超过4万台。 具体来看，手机×AIoT分部收入841亿元。其中智能手机业务收入460亿元，出货量连续9个季度同比增 长；IoT与生活消费产品业务收入276亿元，同比增长5.6%；互联网服务收入94亿元，同比增长10.8%， 其中境外互联网收入33亿元，创下历史新高。 智能电动汽车及AI等创新业务分 ...

市场监管总局批准发布 2项智能家电国家标准 24 2 17 15 15 15 11 11 12 1 儿口, 叩吻童官芯同（凹豕你年安） 拟 阳 。 布《智能家用电器的智能化技术要求和评价 第1部分： 通用要求》（GB/T 28219.1- 2025）、《智能家用电器应用场景 第1部 分： 通用要求》 (GB/T 46505.1-2025) 国家标准，将于2026年5月1日正式实施。 《智能家用电器的智能化技术要求和评价 第1部分:通用要求》 要求智能家电需具备数据管理、人机交互、 智能控制、智能运维等关键能力，并建立L1 至L5五级智能等级评价体系,通过综合评分 划分等级,消费者一眼就能判断产品智能程 度。同时,要求企业明确标注智能功能的具 体效用、网络接入方法、信息安全风险提示 等信息，让消费者用得更加便利。 《智能家用电器应用场景 第1部分： 通用要求》 规定了环境管理、健康管理、能源资源管理 等9类智能家电典型应用场景的实现方式和 技术要求,为产品研发和生态互联提供了清 晰框架。以环境管理场景为例,要求温度波 动不超过±2℃、颗粒物洁净空气量实测值不 低于标称值的90%，并规定了卧室与客厅区 域的噪声上 ...

《智能家用电器应用场景 第1部分：通用要求》国家标准，规定了环境管理、健康管理、能源资源 管理等9类智能家电典型应用场景的实现方式和技术要求，为产品研发和生态互联提供了清晰框架。以 环境管理场景为例，要求温度波动不超过±2°C、颗粒物洁净空气量实测值不低于标称值的90%，并规定 了卧室与客厅区域的噪声上限，以及光线调节正确率不低于80%等，确保智能互联效果可测量、可评 价。 《智能家用电器的智能化技术要求和评价 第1部分：通用要求》国家标准，要求智能家电需具备数 据管理、人机交互、智能控制、智能运维等关键能力，并建立L1至L5五级智能等级评价体系，通过综 合评分划分等级，消费者一眼就能判断产品智能程度。同时，要求企业明确标注智能功能的具体效用、 网络接入方法、信息安全风险提示等信息，让消费者用得更加便利。 近日，市场监管总局（国家标准委）批准发布《智能家用电器的智能化技术要求和评价 第1部分： 通用要求》（GB/T 28219.1—2025）、《智能家用电器应用场景 第1部分：通用要求》（GB/T 46505.1 —2025）等国家标准，将于2026年5月1日正式实施。这2项国家标准从"智能能力"和"场景效果 ...

经济观察网据央视新闻客户端报道，市场监管总局批准发布《智能家用电器的智能化技术要求和评价第 1部分：通用要求》国家标准，要求智能家电须具备数据管理、人机交互、智能控制、智能运维等关键 能力，并建立L1至L5五级智能等级评价体系，通过综合评分划分等级，消费者一眼就能判断产品智能 程度。同时，要求企业明确标注智能功能的具体效用、网络接入方法、信息安全风险提示等信息，让消 费者用得更加便利。 ...

经济观察网据央视新闻客户端报道，市场监管总局批准发布《智能家用电器应用场景第1部分：通用要 求》国家标准，规定了环境管理、健康管理、能源资源管理等9类智能家电典型应用场景的实现方式和 技术要求，为产品研发和生态互联提供了清晰框架。以环境管理场景为例，要求温度波动不超过±2℃、 颗粒物洁净空气量实测值不低于标称值的90%，并规定了卧室与客厅区域的噪声上限，以及光线调节正 确率不低于80%等，确保智能互联效果可测量、可评价。 ...