Revenue and profit both reached new historical highs again. Xiaomi Corporation (ADR) released its first-quarter results, with a profit attributable to shareholders of 10.924 billion yuan, an increase of 161.22% year-on-year

According to the Zhitong Finance APP, Xiaomi Corporation-W (01810) released its performance for the three months ending March 31, 2025. During this period, the group achieved revenue of CNY 111.293 billion, a year-on-year increase of 47.4%; gross profit of CNY 25.406 billion, a year-on-year increase of 50.96%; profit attributable to shareholders of CNY 10.924 billion, a year-on-year increase of 161.22%; and basic earnings per share of CNY 0.44.

The announcement stated that in the first quarter of 2025, the group continued to efficiently execute its core business strategy of "steady and progressive," with both revenue and profit reaching historical highs again. In terms of business segments, in the first quarter of 2025, the group's "Mobile × AIoT" segment revenue was CNY 92.7 billion, a year-on-year increase of 22.8%, while the revenue from the "Smart Electric Vehicles and AI and other innovative businesses" segment was CNY 18.6 billion. In this quarter, the group's adjusted net profit was CNY 10.7 billion, a historical high, with a year-on-year increase of 64.5%.

The group continues to promote its "people, vehicles, and home full ecosystem" strategy. In the first quarter of 2025, the group's global smartphone shipments reached 41.8 million units, a year-on-year increase of 3.0%, achieving year-on-year growth for seven consecutive quarters. According to Canalys data, in the first quarter of 2025, the group ranked among the top three in global smartphone shipments, with a market share of 14.1%, an increase of 0.3 percentage points year-on-year, maintaining a top-three position globally for 19 consecutive quarters. Meanwhile, the group's user ecosystem continues to expand. In March 2025, the group's global monthly active users reached a historical high of 719 million, a year-on-year increase of 9.2%. As of March 31, 2025, the number of IoT devices connected to the group's AIoT platform (excluding smartphones, tablets, and laptops) grew to 944 million, a year-on-year increase of 20.1%. In the first quarter of 2025, the group delivered 75,869 new vehicles from the Xiaomi SU7 series. In May 2025, the group launched the luxury high-performance SUV Xiaomi YU7 series.

The group is steadily executing its "new ten-year goal": making large-scale investments in core underlying technologies, aiming to become a new generation global leader in hardcore technology. In the first quarter of 2025, the group's R&D expenditure reached CNY 6.7 billion, a year-on-year increase of 30.1%. As of March 31, 2025, the number of R&D personnel reached a historical high of 21,731, accounting for 47.7% of the total workforce. In addition, the group continues to extend its intellectual property capabilities, and as of March 31, 2025, Xiaomi Corporation has obtained over 43,000 patents globally.

The group's high-end strategy has achieved significant results, with product strength continuously improving. According to third-party data, in the first quarter of 2025, the share of high-end smartphones sold by the group in mainland China reached 25.0% of total smartphone sales, an increase of 3.3 percentage points year-on-year. According to third-party data, in the first quarter of 2025, the group's market share of smartphones priced at CNY 4,000 and above in mainland China reached 9.6%, an increase of 2.9 percentage points year-on-year; among them, the group's market share of smartphones priced between CNY 4,000 and CNY 5,000 ranked first, with a year-on-year increase of 4.6 percentage points to 24.4%The Xiaomi 15 Ultra, released by the group in February 2025, saw a month-on-month sales increase of over 90% in mainland China compared to last year's Xiaomi 14 Ultra