Core Insights - Xiaomi Group achieved record high revenue and profit in Q2 2025, with total revenue reaching 116 billion yuan, a year-on-year increase of 30.5%, and adjusted net profit of 10.8 billion yuan, up 75.4% [1] Business Segments - The "Mobile × AIoT" segment generated revenue of 94.7 billion yuan in Q2 2025, marking a historical high with a year-on-year growth of 14.8% [2] - Smartphone shipments reached 42.4 million units in Q2 2025, reflecting a 0.6% year-on-year increase, maintaining growth for eight consecutive quarters [2] - Xiaomi ranked among the top three global smartphone vendors with a market share of 14.7%, continuing a 20-quarter streak in the top three [2] - The number of active users reached a record high of 731.2 million globally, up 8.2% year-on-year, and the number of connected IoT devices grew to 989.1 million, a 20.3% increase [2] Innovative Business Growth - Revenue from smart electric vehicles and AI-related innovative businesses reached 21.3 billion yuan in Q2 2025, a significant increase of 233.9% from 6.4 billion yuan in Q2 2024 [3] - Smart electric vehicle revenue alone was 20.6 billion yuan, up 230.3% year-on-year, driven by increased delivery volumes and average selling prices (ASP) [3] - Vehicle deliveries surged to 81,302 units, a 197.7% increase from 27,307 units in Q2 2024, attributed to enhanced production capacity [3] - The ASP for smart electric vehicles rose to 253,700 yuan, a 10.9% increase, largely due to higher deliveries of the Xiaomi SU7 Ultra [3] Market Positioning - In the 4000-5000 yuan price segment, Xiaomi held the top market share in China, increasing by 4.5 percentage points to 24.7% year-on-year [4] - In the 5000-6000 yuan price segment, market share improved by 6.5 percentage points to 15.4% year-on-year [4]

Core Viewpoint - Xiaomi Group achieved record high revenue and profit in Q2 2025, with total revenue reaching 116 billion yuan, a year-on-year increase of 30.5%, and adjusted net profit of 10.8 billion yuan, up 75.4% [2] Business Segments - The "Mobile × AIoT" segment generated revenue of 94.7 billion yuan in Q2 2025, marking a historical high with a year-on-year growth of 14.8% [5] - Xiaomi's smartphone shipments reached 42.4 million units in Q2 2025, reflecting a 0.6% year-on-year increase, maintaining a position among the top three global smartphone vendors with a market share of 14.7% [6] - The number of active users on Xiaomi's ecosystem reached a record high of 731.2 million globally, growing 8.2% year-on-year, while the number of connected IoT devices (excluding smartphones, tablets, and laptops) increased to 989.1 million, up 20.3% [6] - Xiaomi added over 1,700 new retail stores in mainland China, bringing the total to over 17,000, and approximately 200 new retail stores overseas [6] Innovative Business Revenue - Revenue from smart electric vehicles and AI-related innovative businesses reached 21.3 billion yuan in Q2 2025, a significant increase of 233.9% from 6.4 billion yuan in Q2 2024 [8] - Smart electric vehicle revenue rose to 20.6 billion yuan, up 230.3% from 6.2 billion yuan in the previous year, driven by increased delivery volumes and average selling prices (ASP) [8] - The number of electric vehicles delivered surged to 81,302 units, a 197.7% increase from 27,307 units in Q2 2024, attributed to successful capacity enhancements [8] - The ASP for smart electric vehicles increased by 10.9% to 253,700 yuan per vehicle, primarily due to the delivery of higher ASP models like the Xiaomi SU7 Ultra [8] - Other related business revenues grew to 600 million yuan, up 411.1% from 200 million yuan, driven by increases in after-sales services, automotive financial services, and parts sales [8] High-End Strategy - In Q2 2025, Xiaomi ranked first in smartphone sales in mainland China, with high-end smartphone sales accounting for 27.6% of total smartphone sales, an increase of 5.5 percentage points year-on-year [9] - Xiaomi's market share in the 4,000-5,000 yuan price segment reached 24.7%, up 4.5 percentage points year-on-year, while the market share in the 5,000-6,000 yuan segment increased by 6.5 percentage points to 15.4% [9]

Core Insights - Xiaomi Group reported record high core indicators in Q2, with revenue reaching 116 billion yuan, a year-on-year increase of 30.5%, marking the third consecutive quarter of exceeding 100 billion yuan [1] - Adjusted net profit for the quarter was 10.8 billion yuan, a significant year-on-year increase of 75.4%, continuing the trend of surpassing 10 billion yuan for two consecutive quarters [1] Revenue Breakdown - Revenue from the smart electric vehicle and AI innovation business exceeded 20 billion yuan, indicating a shift towards scalable growth [2] - Xiaomi's automotive deliveries reached 81,302 units in Q2, with cumulative deliveries surpassing 300,000 units by July 10, and a monthly delivery of over 30,000 units for the first time in July [2] - The smartphone and AIoT segment generated revenue of 94.7 billion yuan, a year-on-year increase of 14.8%, with smartphone revenue at 45.5 billion yuan and IoT and consumer products revenue at 38.7 billion yuan, up 44.7% [2] Market Position - Despite a challenging global smartphone market, Xiaomi's smartphone business achieved growth, with 11.5 million new device activations in Q2, maintaining a 16.8% market share in China, ranking first domestically [3] - Internationally, Xiaomi's smartphone shipments have seen year-on-year growth for eight consecutive quarters, ranking in the top three in 60 countries and regions [3] IoT and Home Appliances - The IoT and consumer products segment continued to grow, with smart home appliance revenue increasing by 66.2% [4] - In Q2, Xiaomi's air conditioning product shipments exceeded 5.4 million units, with a growth rate of over 60%, while refrigerator and washing machine shipments also saw significant increases [4] Strategic Developments - Xiaomi's internet service revenue grew steadily, with global monthly active users reaching 731 million and IoT devices connected to the AIoT platform reaching 989 million [5] - The company is focusing on high-end market positioning, with high-end smartphone sales accounting for 27.6% of total sales in China, a year-on-year increase of 5.5 percentage points [5] - The launch of the YU7 SUV, priced from 253,500 yuan, saw significant initial demand, with over 240,000 orders within 18 hours [5] R&D and Innovation - Xiaomi's R&D investment reached 7.8 billion yuan in Q2, a year-on-year increase of 41.2%, with an expected total investment of 30 billion yuan for the year [6] - The company launched its self-developed 3nm flagship chip, becoming the first in mainland China to do so, with new high-end devices featuring this chip released in Q2 [7] - The launch of AI glasses exceeded expectations, with a high approval rating on e-commerce platforms and ongoing efforts to ramp up production [7]

Core Viewpoint - Xiaomi Group reported a strong Q2 performance with record-high revenue and profit, showcasing significant growth across multiple business segments, particularly in smartphones, IoT, and innovative sectors like electric vehicles and AI [1][2][4]. Financial Performance - Revenue reached 116 billion yuan, a year-on-year increase of 30.5%, marking the third consecutive quarter exceeding 100 billion yuan [1]. - Adjusted net profit was 10.8 billion yuan, up 75.4% year-on-year, continuing a trend of surpassing 10 billion yuan for two consecutive quarters [1]. Business Segments - The smartphone and AIoT segment generated 94.7 billion yuan, a 14.8% increase year-on-year, with smartphone revenue at 45.5 billion yuan and IoT products at 38.7 billion yuan, which grew by 44.7% [1][2]. - The innovative business segment, including electric vehicles and AI, reported revenue of 21.3 billion yuan, a staggering 234% increase year-on-year [1]. Market Position - Xiaomi maintained a strong position in the global smartphone market, ranking in the top three for 20 consecutive quarters, with a domestic market share of 16.8% [2][3]. - In Southeast Asia, Xiaomi's market share rose to 18.9%, while in Europe, it returned to second place with a 23.4% share [3]. Product Performance - Smart home appliances saw significant growth, with smart air conditioning units shipped exceeding 5.4 million, a growth rate of over 60% [3]. - The high-end smartphone segment saw Xiaomi's share in the 4000-5000 yuan price range increase to 24.7%, while the 5000-6000 yuan segment reached 15.4%, reflecting a shift towards premium products [5][6]. R&D and Innovation - R&D investment reached a record high of 7.8 billion yuan, a 41.2% increase year-on-year, with plans to invest 30 billion yuan this year [7]. - Xiaomi launched its first 3nm flagship chip, becoming the first in mainland China to develop such technology, and achieved significant milestones in the electric vehicle sector [7][8]. Brand Recognition - Xiaomi ranked second in the Kantar BrandZ Globalization Brand list and improved its position in the Fortune Global 500, moving up 100 places to rank 297 [4].

Group 1 - The core viewpoint of the article is that Xiaomi Group reported significant growth in its innovative business segment, particularly in smart electric vehicles and AI, for the second quarter of 2025 [1] - Revenue from the smart electric vehicle and AI segment reached 21.3 billion yuan, representing a year-on-year increase of 233.9% [1] - The revenue from smart electric vehicles alone was 20.6 billion yuan, while other related business revenues amounted to 600 million yuan [1] Group 2 - The gross margin for the smart electric vehicle and AI segment was 26.4% during the second quarter of 2025 [1] - The segment reported an operating loss of 300 million yuan [1] - A total of 81,300 new vehicles were delivered in the reported quarter [1]

8月19日，小米集团总裁卢伟冰在小米集团2025年二季度财报电话会上表示，智能电动汽车及AI等创新 业务有望在今年下半年的单个季度或单个月实现盈利，但累计的亏损还非常大，要实现全面盈利或累计 盈利，还有很长一段时间。 ...

Core Insights - Xiaomi Group reported a total revenue of 116 billion yuan for Q2 2025, marking a 30.5% year-on-year increase and exceeding 100 billion yuan for three consecutive quarters [1] - The adjusted net profit reached 10.8 billion yuan, representing a significant 75.4% year-on-year growth [1] - Revenue from innovative businesses, including smart electric vehicles and AI, amounted to 21.3 billion yuan, with 81,302 new vehicles delivered [1] - Research and development (R&D) investment was 7.8 billion yuan, up 41.2% year-on-year, with an expected total investment of 30 billion yuan for the year [1] - The number of R&D personnel reached a record high of 22,641 [1]

Core Viewpoint - Xiaomi Group's President Lu Weibing expressed confidence in achieving the annual delivery target of 350,000 Xiaomi cars, highlighting significant growth in revenue from smart electric vehicles and AI innovation businesses [1] Financial Performance - In the second quarter, revenue from Xiaomi's smart electric vehicles and AI innovation businesses surged by 234% to 21.3 billion yuan [1] - The operating loss significantly narrowed to 300 million yuan, indicating a potential for achieving quarterly profitability in the second half of the year [1]

Core Insights - Xiaomi Group reported record-high financial results for Q2 2025, with revenue reaching 116 billion yuan, a year-on-year increase of 30.5%, marking the third consecutive quarter of over 100 billion yuan in revenue [1] - Adjusted net profit for the same period was 10.8 billion yuan, a significant year-on-year increase of 75.4%, continuing a trend of exceeding 10 billion yuan for two consecutive quarters [1] - The innovative business segment, including smart electric vehicles and AI, generated over 20 billion yuan in revenue, indicating a shift towards scalable growth [1] Financial Performance - Xiaomi's Q2 revenue was 116 billion yuan, up 30.5% year-on-year, with adjusted net profit at 10.8 billion yuan, up 75.4% [1] - The smartphone and AIoT segment generated 94.7 billion yuan in revenue, a 14.8% increase, with smartphone revenue at 45.5 billion yuan and IoT revenue at 38.7 billion yuan, up 44.7% [1][2] - Internet services revenue reached 9.1 billion yuan, reflecting a 10.1% year-on-year growth [1] Market Position - Xiaomi regained the top position in the domestic smartphone market with a market share of 16.8% and 11.5 million new device activations in Q2 [2] - The company maintained a strong international presence, ranking in the top three in 60 countries and regions, with continuous year-on-year growth in smartphone shipments [2] Product Performance - The smart home appliance segment saw significant growth, with smart air conditioning sales exceeding 5.4 million units, a year-on-year increase of over 60% [2] - The company’s high-end smartphone market share increased to 27.6%, with notable growth in the 4000-5000 yuan and 5000-6000 yuan price segments [3] Innovation and R&D - Xiaomi's R&D investment reached 7.8 billion yuan in Q2, a 41.2% increase, with an expected total investment of 30 billion yuan for the year [4] - The company launched its self-developed 3nm flagship chip, becoming the first in mainland China to do so, and introduced several high-end devices featuring this chip [5]

金融界8月19日消息 备受关注的小米二季报出炉，雷军赚麻了！ 19日盘后，小米集团公布二季报。小米第二季度营收1,159.6亿元，同比增长30%，预估1,149.4亿元；第二季 度净利润119.0亿元，预估88.8亿元。小米集团第二季度集团经调整净利润为108亿元，创历史新高，同比增长 75.4%。若按照1159.6亿元营收，108亿元调后净利润计算，小米集团二季度每日流水高达12.74亿元，每日净 赚1.19亿元。 | | | | 木經審核 | | | | --- | --- | --- | --- | --- | --- | | | | | 截至以下日期止三個月 | | | | | 2025年 | 2024年 | | 2025年 | | | | 6月30日 | 6月30日 | 同比變動 | 3月31日 | 環比變動 | | | | | (人民幣百萬元 · 除非另有説明) | | | | 收入 | 115.956.1 | 88,887,8 | 30.5% | 111,293,3 | 4.2% | | 毛利 | 26,101.0 | 18.394.2 | 41.9% | 25.405.9 | 2.7% | | ...