$XIAOMI-W (01810.HK)$ Announced the fourth quarter performance for last year, with results for the fourth quarter ending December 31, 2024 showing revenue of 109.01 billion yuan (RMB, the same below), an increase of 48.8% year-on-year.Revenue performance exceeded market expectations.; adjusted net profit increased by 69.4% year-on-year to 8.316 billion yuan.Profitability performance far exceeded market expectations.。
Everyone can also see on the Futubull app that throughout 2024, the company's revenue slightly exceeds market expectations, but the performance of earnings per share surpasses market expectations, indicating that Xiaomi's profitability is indeed the core reason for the rise in stock price.
Today, let's take a simple look at Xiaomi's two core businesses, "Smart Phone x AIoTandInnovative businesses such as intelligent electric vehicles.」。
Mobile x AIoT
A core reason driving profit increase is the performance of gross margin, where the gross margin for Smart Phones during the Double Eleven traditional sales peak does not drop but rises, reflecting strong performance across the entire mobile brand. Additionally, it reverses the weak trend of Smart Phone gross margins seen in the past four quarters. The company's Smart PhonesHigh-end strategy success, with the average selling price "ASP" of Smart Phones in 2024 being 1,138.2 yuan,setting a historic high, with a year-on-year growth of 5.2%.。
According to Canalys data, Xiaomi ranks among the top three in global Smart Phone shipments, with a market share of 13.0%, maintaining a position in the global top three for the 18th consecutive quarter. More noteworthy is that, in mainland China, the...