Xiaomi Q2'25 Earnings Highlights 🔹 Revenue: ¥115.96B (Est. ¥114.94B) 🟢; +30.5% YoY; UP +4.2% QoQ 🔹 Oper Profit: ¥13.44B (Est. ¥10.43B) 🟢; +128% YoY 🔹 Net Income: ¥11.90B (Est. ¥8.88B) 🟢; +134% YoY 🔹 Adj Net Profit: ¥10.83B (Est. ¥10.23B) 🟢; +75% YoY 🔹 Gross Profit: ¥26.1B; +42% YoY 🔹 Gross Margin: 22.5%; +1.8 pts YoY Segment Results: 🔹 Smartphone × AIoT Revenue: ¥94.7B; +15% YoY 🔹 Smartphones: ¥45.5B; -2% YoY; shipments 42.4M (+0.6% YoY) 🔹 IoT & Lifestyle: ¥38.7B; +45% YoY 🔹 Internet Services: ¥9.1B; +10% YoY; margin 75% 🔹 Smart EV, AI & New Initiatives: ¥21.3B; +234% YoY 🔹 EV Deliveries: 81,302 units (+198% YoY); ASP ¥253,662 (+11% YoY) Operational Metrics: 🔹 Global Smartphone Shipments: 42.4M; market share 14.7% (Top 3 globally, 20th straight quarter) 🔹 IoT Devices Connected: 989M (+20% YoY) 🔹 Global MAU: 731M (+8% YoY) 🔹 R&D Spend: ¥7.8B (+41% YoY) Cash & Liquidity: 🔹 Operating Cash Flow: ¥23.5B 🔹 Cash & Cash Equivalents: ¥36.0B Management Commentary: 🔸 “Achieved record revenue and profitability across smartphones, IoT, and EV segments.” 🔸 “Premiumization strategy driving share gains in China’s RMB4,000–6,000 smartphone range.” 🔸 “EV ramp continues—YU7 launch attracted 240,000+ locked orders within 18 hours.”