Xiaomi Corp Class B ( (XIACF) ) has released its Q4 earnings. Here is a breakdown of the information Xiaomi Corp Class B presented to its investors.
Xiaomi Corporation, a leading global technology company, is renowned for its innovative smartphones, AIoT products, and smart electric vehicles, operating primarily in the consumer electronics and smart manufacturing sectors.
In its latest earnings report for 2024, Xiaomi Corporation announced a significant increase in revenue and profits, with total revenue reaching RMB365.9 billion, marking a 35% year-over-year growth. The company also reported a record high adjusted net profit of RMB27.2 billion, up 41.3% from the previous year.
Key financial highlights include a 22.9% increase in revenue from the Smartphone × AIoT segment, reaching RMB333.2 billion, and a notable performance in the smart EV segment with revenues of RMB32.8 billion. Xiaomi’s global smartphone shipments ranked among the top three globally, and the company achieved significant growth in its IoT and lifestyle products, with revenue exceeding RMB100 billion for the first time.
Looking forward, Xiaomi aims to continue its strategy of ‘Human × Car × Home,’ investing in core technologies and expanding its global footprint. The company plans to enhance its smart EV production, aiming to deliver 350,000 vehicles in 2025, and continue its expansion in offline retail stores across mainland China and overseas.
Xiaomi’s management remains optimistic about the future, focusing on technological innovation and market expansion to sustain its growth trajectory and maintain its competitive edge in the global market.