Xiaomi Corp. Unsponsored ADR Class B ( (XIACY) ) has released its Q4 earnings. Here is a breakdown of the information Xiaomi Corp. Unsponsored ADR Class B presented to its investors.
Xiaomi Corporation, a leading global technology company, is renowned for its innovative consumer electronics and smart manufacturing, with a strong presence in the smartphone and AIoT sectors.
Xiaomi’s latest earnings report for the year ending December 31, 2024, reveals a robust financial performance, with significant growth across all business segments. The company achieved record-high revenues and profits, driven by its strategic initiatives and expansion in both domestic and international markets.
The company reported a 35% increase in annual revenue, reaching RMB365.9 billion, and a 41.3% rise in adjusted net profit, amounting to RMB27.2 billion. Xiaomi’s Smartphone × AIoT segment generated RMB333.2 billion in revenue, while its Smart EV and other new initiatives contributed RMB32.8 billion. The company’s global smartphone shipments ranked among the top three for the fourth consecutive year, and its IoT platform saw a 22.3% increase in connected devices.
Xiaomi’s strategic focus on innovation and expansion is evident in its increased R&D investment, which rose by 25.9% to RMB24.1 billion. The company also made significant strides in its smart EV business, delivering 136,854 vehicles in 2024 and launching the high-performance Xiaomi SU7 Ultra. Additionally, Xiaomi’s internet services and IoT products experienced substantial growth, contributing to the company’s overall success.
Looking ahead, Xiaomi aims to continue its growth trajectory by investing in core technologies and expanding its global footprint. The company plans to enhance its product offerings and maintain its leadership in the technology sector, focusing on its “Human × Car × Home” strategy to deliver innovative and intelligent experiences to consumers worldwide.