Xiaomi Group's Q2 Report Strong Revenue Growth, Smart EV Advancements

TapTechNews August 21st, Xiaomi Group released its second-quarter financial report today. The second quarter revenue was 88.89 billion Chinese yuan, a year-on-year increase of 32.0%, hitting a new single-quarter historical high.

Adjusted net profit was 6.2 billion, a year-on-year increase of 20.1%. The revenue of the innovative business segment such as smart electric vehicles was 6.4 billion yuan.

R & D investment was 5.5 billion yuan, a year-on-year increase of 20.7%, and the total number of R & D personnel was 18,290.

The share of high-end smartphones shipped in mainland China reached 22.1%, an increase of 2.0 percentage points year-on-year. Among them, the market share in the 4K-5K price range was 20.1%, an increase of 3.5 percentage points year-on-year.

The shipment of smartphones ranked top three in 58 markets globally, and ranked top five in 70 markets. The rankings in Latin America and Southeast Asia both rose to the second place, with market shares reaching 18.6% and 17.2% respectively; the shipment in the Middle East remained firmly in the second place.

TapTechNews noted that Xiaomi Automobile cumulatively delivered 27,307 new vehicles in a single quarter, and has delivered more than 10,000 vehicles per month for two consecutive months. The annual delivery target of 100,000 vehicles is expected to be completed in advance by November.