Xiaomi Reports Record Q1 2025 Results, Driven by Strong Smartphone and IoT Growth

Earnings Call
27 May

1. Xiaomi reported strong Q1 2025 results:
- Total revenue reached 111.3 billion yuan, up 47.4% year-over-year
- Gross profit margin hit a record high of 22.8%
- Adjusted net profit exceeded 10 billion yuan for the first time, reaching 10.7 billion yuan

2. Smartphone business highlights:
- Revenue of 50.6 billion yuan, up 9% year-over-year
- Global shipments of 41.8 million units
- Ranked #1 in mainland China with 18.8% market share
- ASP reached a record high of 1,211 yuan

3. IoT business performance:
- Revenue of 32.3 billion yuan, up 58.7% year-over-year
- Gross margin reached 25.2%, up 5.4 percentage points year-over-year

4. Smart electric vehicle progress:
- Delivered 75,860 units in Q1
- Revenue of 18.1 billion yuan
- Gross margin reached 23.2%

5. R&D investment:
- Q1 R&D spending reached 6.7 billion yuan, up 30% year-over-year
- Plans to invest 200 billion yuan in R&D from 2026 to 2030

6. Future focus areas:
- Continued investment in AI and chip development
- Expanding high-end smartphone market share
- Scaling up smart home appliance production
Disclaimer: This earnings call summary is generated by AI and is for informational purposes only. Due to technical limitations, inaccuracies may exist. It does not constitute investment advice or commitments.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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