Today. $XIAOMI-W (01810.HK)$ The Q1 2025 Earnings Reports have been released, and since terms like 'the strongest in history' have been used before, this time it can only be described as 'the strongest of the strongest' Earnings Reports. Of course, Xiaomi will likely continue to refresh its Earnings Reports records in the future.
Regarding the Earnings Reports, due to national subsidies in the first quarter and the popularity of SU7 orders, the market had fully anticipated that Xiaomi's Earnings Reports data would be quite good. However, the results still exceeded expectations, with revenue exceeding market expectations by 2 billion, and Net income exceeding market expectations by 1.5 billion. From the Earnings Reports data, this is indeed explosive! This article was written on a plane today, please excuse any oversights!
Xiaomi's Earnings Reports have been analyzed many times, and the basic viewpoint remains unchanged: the certainty of the electric vehicle Business is increasing, mobile phones have made significant progress under the leadership of high-end models, for the first time in recent years, achieving the sales crown for a single quarter in China. The growth of the IOT sector has far exceeded expectations, with significant growth in major appliances and tablets. Xiaomi's Earnings Reports have been interpreted too many times, and many viewpoints have remained unchanged; let's get straight to the point:
1. Total revenue continues to break through the one hundred billion barrier with a growth rate of 47%, where traditional business growth is 22.1%, IOT growth is 58%, Smart Phone growth is 8.9%, and Internet business growth is 12%. Objectively speaking, this growth rate is already the NO1 among Chinese giants. Previously, PDD Holdings had explosive growth, but based on the recently released Earnings Reports from PDD Holdings, the growth rate is far below Xiaomi's. A revenue scale of 100 billion in a single quarter,...