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Xiaomi Group’s second-quarter financial report released

Xiaomi Group today released the second quarter financial report that ended June 30, 2022. According to the financial report, Xiaomi’s revenue in the second quarter was 70.7 billion yuan, a year-on-year decrease of 20.1%; net profit was 1.39 billion yuan, an estimated 1.5 billion yuan; adjusted net profit was 2.08 billion yuan, an estimated 1.99 billion yuan, a year-on-year decrease of 67.1%.

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From the perspective of the first half of the year, Xiaomi Group’s revenue in the first half of 2022 was 143.5 billion yuan, a year-on-year decrease of 12.8%; the adjusted net profit was 4.939 billion yuan, a year-on-year decrease of 60.1%.

The financial report shows that the revenue of the smartphone segment decreased by 28.5% from 59.1 billion yuan in the second quarter of 2021 to 42.3 billion yuan in the second quarter of 2022, mainly due to the decrease in smartphone shipments. Smartphone shipments decreased by 26.2% from 52.9 million units in the second quarter of 2021 to 39.1 million units in the second quarter of 2022.

According to Canalys data, Xiaomi’s global smartphone shipments ranked third in the second quarter, with a market share of 13.8%, an increase of 1.2 percentage points from the previous quarter.

According to third-party data, in the second quarter of 2022, the market share of Xiaomi Group’s smartphones in the price segment of RMB 3,000 to RMB 4,000 in mainland China increased by 3.5 percentage points year-on-year to 18.2%; The market share increased by 2.0 percentage points year-on-year to 15.5%.

In June 2022, the number of MIUI monthly active users worldwide and in mainland China reached a new record high. Among them, the number of MIUI monthly active users in the world reached 547 million, an increase of 93.1 million year on year; the number of MIUI monthly active users in mainland China reached 140.2 million, an increase of 16.3 million year on year.

As of June 30, 2022, the number of connected IoT devices (excluding smartphones, tablets, and laptops) on Xiaomi Group’s AIoT platform reached 526.9 million, a year-on-year increase of 40.7%. The number of users with five or more devices connected to the Xiaomi AIoT platform (excluding smartphones, tablets, and laptops) exceeded 10 million for the first time, reaching 10.2 million, a year-on-year increase of 37.0%.

Xiaomi’s Internet service revenue in the second quarter was 6.97 billion yuan, a year-on-year decrease of 0.9%, and an estimated 7.09 billion yuan. Among them, the advertising business revenue was 4.5 billion yuan, a year-on-year increase of 0.6%; the game business revenue was 1 billion yuan, a year-on-year increase of 4.7%.

In the second quarter of 2022, Xiaomi Group’s R&D expenditure reached RMB 3.8 billion, a year-on-year increase of 22.8%. Xiaomi Group’s innovative business expenses such as smart electric vehicles in the quarter were 611 million yuan. In the field of autonomous driving, an elite R&D team of more than 500 people has been established, and a technology layout strategy for full-stack self-developed algorithms has been formulated; the first phase of planned R&D-related investment in the field of autonomous driving is 3.3 billion yuan.

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