Xiaomi 2023 Q2 Adjusted Net Profit Surges 147% to RMB5.1 Billion

Over 18 operating metrics hitting record high capitalizing on the Group’s continued advancement of premiumization strategy

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.

Xiaomi Wins Institutional Investor's Asia Executive Team Awards for the Fifth Consecutive Year

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, has been awarded by Institutional Investor, a renowned international financial magazine, in multiple categories of Asia Pacific (Ex-Japan) Executive Team Awards for the fifth consecutive year.

In the Technology Hardware sector, Xiaomi wins awards in the "2023 Asia Pacific (Ex-Japan) Executive Team", including Best CEO, Best CFO, Best Investor Relations Professional, Best Investor Relations Program, Best ESG, and Best Board. This is the second year Xiaomi clinched All-Star status, achieving a first-place in the combined rankings across six categories.

Xiaomi Releases Inaugural Intellectual Property White Paper Obtains More Than 29,000 Patents Globally

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, released its inaugural intellectual property (“IP”) white paper. The white paper showcases Xiaomi’s IP achievements and its technological innovation capabilities. Currently, Xiaomi has entered 12 technological fields of research and development, including 5G mobile communication technology, big data, cloud computing and artificial intelligence, reaching 98 sub-segments. Technological nnovation is the driving force behind Xiaomi’s high degree of globalization with IP rights providing support and protection for further technological innovation in an efficient manner.

Xiaomi has accumulated substantial achievements in IP across these areas. As of September 30, 2021, the Group ranked 13th worldwide in 5G self-declared patent families. As of September 30, 2022, Xiaomi has obtained more than 29,000 patents globally, covering more than 60 countries and regions.

Wang Xiang, Partner and President of Xiaomi Corporation, introduced the Group’s IP value proposition for the first time. He stated Xiaomi is dedicated to providing users with best-in-class technological innovation, respecting IP rights and offering diversified solutions to settle IP disputes. The Company is seeking to achieve a winwin, long-term and sustainable IP partnership and ultimately promote technology inclusion for the benefit of a wider community.

Xiaomi Smart Electric Vehicle Business Ushered in a Key Milestone

With Lei Jun Investing RMB 10 Billion and Completing
 the Company Registration of Xiaomi EV, Inc.

Xiaomi Corporation ("Xiaomi" or the "Group") today announced that Xiaomi EV, Inc. has completed the business registration with a registered capital of RMB 10 billion. Lei Jun, Founder, Chairman and CEO of Xiaomi, is the legal representative of Xiaomi EV, Inc. This marks a key milestone of the much anticipated smart electric vehicle (EV) initiative which has officially entered a substantial development phase.

Towards the end of March 2021, Lei Jun, the Founder of Xiaomi, was announcing in his speech the company's EV business initiative and Xiaomi is committed to investing an estimated USD 10 billion in total in EV business over the course of the next 10 years, with an initial investment of RMB 10 billion. He himself will lead the team and stake his entire reputation on fighting for the EV business of Xiaomi. Today, Lei Jun has become the legal representative of Xiaomi EV, Inc. and he is leading the team to double down on the EV manufacturing to turn his promises into actions, showing his firm determination and faith.