Xiaomi Group-W (01810) announced its annual results for the period ending December 31, 2025. The group reported revenue of RMB 457.287 billion, representing a 25% year-on-year increase. Gross profit reached RMB 101.806 billion, up 33% compared to the previous year. Adjusted net profit amounted to RMB 39.166 billion, marking a significant increase of 43.8%. Profit attributable to owners of the company was RMB 41.643 billion, a surge of 76.02%, with basic earnings per share at RMB 1.62.

Throughout 2025, the company consistently executed its core "steady and aggressive" operational strategy, achieving solid performance growth. Both total revenue and adjusted net profit reached new historical highs. Total group revenue for the year was RMB 457.3 billion, a 25.0% increase year-on-year.

By business segment, revenue from the "Smartphone x AIoT" division was RMB 351.2 billion, growing by 5.4%. Revenue from the "Smart Electric Vehicles, AI, and Other Innovation Businesses" division surged to RMB 106.1 billion, an impressive increase of 223.8%. The group's adjusted net profit for 2025 was RMB 39.2 billion, up 43.8%.

In the fourth quarter of 2025, despite headwinds such as significant increases in memory costs and intensified industry competition, the group's business demonstrated resilience. Quarterly revenue reached a record high of RMB 116.9 billion, a 7.3% year-on-year increase, marking the fifth consecutive quarter where revenue exceeded RMB 100 billion. Segment-wise, Q4 revenue from the "Smartphone x AIoT" division was RMB 79.7 billion, while the "Smart Electric Vehicles, AI, and Other Innovation Businesses" division generated RMB 37.2 billion, a 123.4% year-on-year increase. The group's adjusted net profit for the quarter was RMB 6.3 billion.

The company continues to advance its "Human x Car x Home" full ecosystem strategy. In 2025, smartphone shipments reached 165.2 million units. According to data from Omdia, Xiaomi's global smartphone shipment ranking remained within the top three for the fifth consecutive year, with a market share of 13.3%.

Concurrently, the company's user ecosystem continued to expand. In December 2025, the global monthly active user count reached a new record high of 754.1 million, a 7.4% year-on-year increase. As of December 31, 2025, the number of connected IoT devices (excluding smartphones, tablets, and laptops) on the company's AIoT platform reached 1.079 billion, an increase of 19.3% year-on-year.

In 2025, the company delivered 411,082 new vehicles. It is steadily executing its "New Decade Goals," which involve substantial investment in foundational core technologies, aiming to become a global leader in next-generation hardcore technology. Cumulative R&D expenditure over the past five years reached RMB 105.5 billion. R&D spending in 2025 alone was RMB 33.1 billion, a 37.8% year-on-year increase. The number of R&D personnel hit a record high of 25,457 as of December 31, 2025. Furthermore, the company estimates that its cumulative R&D investment over the next five years, starting from 2026, will exceed RMB 200 billion.

Revenue from the smartphone business in 2025 was RMB 186.4 billion, with a gross margin of 10.9%. Global smartphone shipments totaled 165 million units. According to third-party data, Xiaomi's smartphone sales ranking in Mainland China rose to second place in 2025, with a market share of 16.6%, an increase of 0.7 percentage points year-on-year. Omdia data confirmed that Xiaomi maintained its position among the top three globally for smartphone shipments, holding a 13.3% market share for the fifth consecutive year. Specifically, its smartphone shipment ranking rose to second place in Latin America and Southeast Asia, with market shares increasing by 0.9 percentage points each to 17.5% and 17.0%, respectively. In Europe and Africa, it ranked third, with market shares increasing by 0.6 and 1.4 percentage points to 20.3% and 12.7%, respectively. Xiaomi ranked among the top three in smartphone shipments in 58 countries and regions globally, and among the top five in 70 countries and regions.

Revenue from the "Smart Electric Vehicles, AI, and Other Innovation Businesses" division surpassed the RMB 100 billion mark in 2025, reaching RMB 106.1 billion, a 223.8% year-on-year surge. This included RMB 103.3 billion from smart electric vehicles and RMB 2.8 billion from other related businesses. The division's gross margin for the year was 24.3%, an improvement of 5.8 percentage points year-on-year. Notably, this division achieved positive operating profit for the first time in 2025, with an annual operating profit of RMB 900 million.

The company delivered a total of 411,082 new vehicles in 2025, a 200.4% year-on-year increase. In the fourth quarter alone, 145,115 vehicles were delivered, representing a 108.2% year-on-year growth. In 2025, the Xiaomi SU7 series ranked first in sales among sedans priced above RMB 200,000 in Mainland China. As of February 2026, the Xiaomi YU7 series had maintained the top position in sales volume for mid-to-large-sized SUVs in Mainland China for seven consecutive months. Looking ahead to 2026, the company is fully committed to achieving its target of delivering 550,000 Xiaomi vehicles.