Record-Breaking Revenue and Growth
Total revenue reached RMB111.3 billion, up 47% year-on-year, marking the strongest single quarterly financial report in Xiaomi's history. Adjusted net profit exceeded RMB10 billion for the first time, reaching RMB10.7 billion, up 64% year-on-year.
Smartphone Market Leadership
Xiaomi returned to number one in smartphone shipments in Mainland China, increasing market share by 4.7 percentage points year-on-year to 18.8%. Smartphone revenue was RMB50.6 billion, with a gross margin rising to 12.4%.
IoT Revenue Surge
IoT revenue reached RMB32.3 billion, up 59% year-on-year, driven by strong growth in multiple categories, including large home appliances and tablets.
AI and Chip Development
Xiaomi announced their first 3 nanometer flagship smartphone SOC chip, XRING O1, and an AI Big Model, Xiaomi MiMo, showcasing significant advancements in core technology.
EV Business Expansion
EV business delivered 76,000 new EVs in Q1, with the Xiaomi SU7 series leading sales in its price range.