Xiaomi has recently released its financial report for the first quarter of 2021. The report shows the total income of Xiaomi Group in the quarter. According to the report, Xiaomi’s income reached 76.9 billion yuan, a year-on-year increase of 54.7%.
Moreover, with a year-on-year increase of 163.8%, the adjusted net profit in Q1 is 6.1 billion yuan. The earnings per share were RMB 0.302 and market expectations were RMB 0.187, compared with RMB 0.089 in the same period last year.
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Smartphone Share –
In the first quarter of 2021, Xiaomi’s global smartphone shipments increased by 69.1% year-on-year to 49.4 million units. According to Canalys statistics, with a market share of 14.1%, its global smartphone shipments ranked No. 3.
According to Canalys statistics, in the first quarter, Xiaomi’s smartphone shipments in China increased by 74.6% year-on-year, which ranked fourth in market share.
In March 2021, the number of global MIUI monthly active users reached 425.3 million, a year-on-year increase of 28.6%.
IoT and Consumer Products Share –
As of March 31, this year, the number of IoT devices (not including smartphones and laptops) connected to the AIoT platform reached 350 million. Their income reached 18.2 billion yuan with a year-on-year increase of 40.5%.
The number of monthly active users of artificial intelligence assistant Xiao Ai reached 93 million in March 2021.
Internet Service Share –
The scale of Internet users has also continued to increase. In March, the number of MIUI monthly active users in China reached 119 million, a net increase of 7.7 million users from December 2020, an increase of 6.9% from the previous month.
Internet service revenue reached 6.6 billion yuan with a year-on-year increase of 11.4%. And, the gross profit margin of the Internet business reached 72.4%. At the same time, advertising business revenue reached a record high in a single quarter. It reached 3.9 billion yuan with a year-on-year increase of 46.3%.
It is reported that the game income was 1.1 billion yuan, an increase of 24.8% from the previous quarter. Revenue from other value-added services reached RMB 1.6 billion with a year-on-year decrease of 8.6%, mainly due to the continued strengthening of risk control in the financial technology business and active control of loan scale.
The number of monthly active users of Xiaomi Smart TV and Xiaomi Box increased by more than 34% year on year. Likewise, as of March 31, 2021, Xiaomi TV has paid 4.7 million subscribers, a year-on-year increase of 8.2%.
Overseas Market Share –
Xiaomi’s overseas market revenue touched 37.4 billion yuan with a year-on-year increase of 50.6%. According to Canalys statistics, in terms of smartphone shipments, Xiaomi ranked top five in market share in 62 countries and regions in the world and ranked first in 12 countries.
Other Shares –
As of April 30, 2021, the total number of Xiaomi’s retail stores in China exceeded 5,500, which is an increase of more than 2,300 since December 31, 2020. In the quarter, Xiaomi’s R&D expenditure reached 3 billion yuan, a year-on-year increase of 61.0%.
As of March 31, 2021, the tech giant has invested in more than 320 companies with a total book value of 51.9 billion yuan, a year-on-year increase of 60.8%. As of March 31, 2021, the total value of Xiaomi’s investment including the following is 69.7 billion yuan.
Xiaomi’s investment includes:
- The fair value of the listed company in the investment calculated by the equity method (calculated based on the stock price on March 31, 2021).
- The investment calculated by the equity method The book value of Chinese and African listed companies.
- The book value of long-term investments included in current profits and losses at fair value.
In the first quarter of 2021, Xiaomi’s self-disposal of investments recorded a net income of 400 million yuan after tax.
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