XIAOMI(XIACY) - 2023 Q2 - Earnings Call Transcript

For AI, in terms of application, we first need to launch continuously new products, enhance performance. For example, in Mi Home, we have many offerings. We have to do allocation arrangements for our products. Internally, we have a lot of AI applications. We have to consider through AI and our new product launch, there will be new plans. In the second quarter, R&D expenses were RMB4.6 billion, up 21% year-on-year. Moving to the bottom line. In the second quarter, our adjusted net profit was RMB5.1 billion, ...