XIAOMI-W (01810) announced its second quarter 2025 results, with revenue reaching approximately RMB 115.956 billion, representing a year-over-year increase of 30.5% and quarter-over-quarter growth of 4.2%. Gross profit amounted to approximately RMB 26.101 billion, up 41.9% year-over-year and 2.7% quarter-over-quarter. Adjusted net profit reached approximately RMB 10.831 billion, rising 75.4% year-over-year and 1.5% quarter-over-quarter. Profit attributable to shareholders totaled RMB 11.904 billion, surging 133.51% year-over-year.

For the first half of 2025, revenue reached approximately RMB 227.249 billion, up 38.2% year-over-year; gross profit was approximately RMB 51.507 billion, up 46.2% year-over-year; adjusted net profit reached approximately RMB 21.506 billion, up 69.8% year-over-year. Profit attributable to shareholders was RMB 22.829 billion, up 146% year-over-year.

In Q2 2025, the Group continued to efficiently execute its core "steady and progressive" operating strategy, with both Group revenue and profit reaching record highs. The Group's total revenue for Q2 2025 hit a record high of RMB 116 billion, up 30.5% year-over-year.

By business segment, the "Smartphone × AIoT" segment generated revenue of RMB 94.7 billion in Q2 2025, up 14.8% year-over-year, while the "Smart Electric Vehicles and AI Innovation Business" segment recorded revenue of RMB 21.3 billion. Both segments achieved record-high revenue.

The Group's adjusted net profit for the quarter reached a record high of RMB 10.8 billion, up 75.4% year-over-year. The Group continues to advance its "Human × Car × Home" ecosystem strategy.

In Q2 2025, the Group's smartphone shipments totaled 42.4 million units, up 0.6% year-over-year, achieving year-over-year growth for eight consecutive quarters. According to Canalys data, the Group ranked third globally in smartphone shipments for Q2 2025 with a market share of 14.7%, maintaining its top-three global ranking for 20 consecutive quarters.

Meanwhile, the Group's user ecosystem continues to expand. As of June 2025, the Group's global monthly active users reached a record high of 731.2 million, up 8.2% year-over-year. As of June 30, 2025, the number of IoT devices connected to the Group's AIoT platform (excluding smartphones, tablets, and laptops) increased to 989 million, up 20.3% year-over-year.

In Q2 2025, the Group delivered 81,302 new vehicles, setting another record high. The Group steadily executes its "New Decade Goals": investing heavily in fundamental core technologies to become a global leader in next-generation hardcore technology. R&D expenses for Q2 2025 reached RMB 7.8 billion, up 41.2% year-over-year. As of June 30, 2025, the number of R&D personnel reached a record high of 22,641.

The Group's premium strategy continues to yield significant results. According to third-party data, the Group ranked first in smartphone sales in Mainland China for Q2 2025. Premium smartphone sales accounted for 27.6% of total smartphone sales, up 5.5 percentage points year-over-year.

According to third-party data, for Q2 2025, the Group ranked first in market share for smartphones priced between RMB 4,000-5,000 in Mainland China, with market share rising 4.5 percentage points year-over-year to 24.7%. In the RMB 5,000-6,000 price segment in Mainland China, market share increased 6.5 percentage points year-over-year to 15.4%.

The Group steadily advances its new retail strategy. In Q2 2025, the Group added over 1,700 Mi Home stores quarter-over-quarter in Mainland China, bringing the total to over 17,000 stores. The Group operates approximately 200 new retail stores in overseas markets. According to third-party data, the Group's offline channel market share for smartphones in Mainland China was 12.2% in Q2 2025, up 1.8 percentage points year-over-year.