Xiaomi Corporation (“Xiaomi” or the “Group”; stock code:1810), a consumer electronics and smart manufacturing company with smartphones and smart hardware connected by an Internet of Things (“IoT”) platform at its core, announced its unaudited consolidated results for the three months ended June 30, 2023 (“2023 Q2” or "the Period”). Since the execution of key corporate strategy of “dual emphasis on scale and profitability” two quarters ago, Xiaomi has achieved robust profit and business growth with multiple operating metrics hitting historical high. In the second quarter of 2023, Xiaomi’s total revenue reached RMB67.4 billion, representing a quarter-on-quarter (“QoQ”) growth of 13.2%. The adjusted net profit reached RMB5.1 billion, a year-on-year (“YoY”) growth of 147.0%. This marks the highest quarterly profit since the fourth quarter of 2021, far exceeding market consensus. In the first half of 2023, Xiaomi's adjusted net profit reached RMB8.4 billion, nearing the level of last year’s adjusted net profit.
