$XIAOMI-W (01810.HK)$ The 2022 Q4 earnings report estimates that few people have high expectations for this financial report. Most of them are bright brands. For example, because the decline in the global mobile phone business will inevitably lead to a decline in total revenue, net profit has declined due to the decline in the mobile phone business and car building expenses. For the financial report data, you can read the detailed table I compiled later. A lot of the data is for interested friends to study, but I don't think many people are paying attention to these details at Xiaomi's current situation, so I'll just talk directly about my personal opinion on the financial report:
1. The financial report data is not very good. The fourth quarter's revenue was 67.047 billion yuan. The year-on-year decrease was 22.8%, the adjusted net profit was 1,461 million yuan, a decrease of 67.3% from the previous year. Innovative business expenses such as smart electric vehicles were 1.2 billion, and the after-sales expenses of the Xiaomi 11 were 700 million yuan. Even if they were added back, it was a 25% decrease from the previous year. Currently, it is difficult to have the level of net profit of 5 billion yuan in a single quarter before. Annual revenue also fell below 300 billion dollars and returned to 280 billion dollars, but the market also had expectations. The comparison was also the strongest Q4 in the history of '21.
2. With the exception of Apple, in the mobile phone business Q4, almost all mobile phone manufacturers saw a year-on-year decline in shipments. Xiaomi's Q4 business revenue was 36.67 billion, down 27% from the previous year. The data was very bleak, but the general environment was such that the domestic market was still not going well, and several companies were unable to do anything with each other. The only thing I'm happy about is that the Xiaomi 13 series has performed well on the high-end road, and we can only wait...