Xiaomi Corp said the company's revenue surged 47.4 percent year-on-year to 111.3 billion yuan ($15.5 billion) in the first quarter of 2025, marking its second consecutive quarter surpassing the 100 billion yuan milestone following the fourth quarter of 2024.
Adjusted net profit reached a historic high of 10.7 billion yuan, up 64.5 percent year-over-year, exceeding the 10 billion yuan threshold for the first time.
Specifically, Xiaomi said its smartphone revenue increased 8.9 percent to 50.6 billion yuan, while the revenue of Internet of Things and Lifestyle Products soared by 58.7 percent to a record 32.3 billion yuan.
Emerging businesses, including smart electric vehicles and AI innovations, contributed 18.6 billion yuan in revenue. The Xiaomi SU7 series saw robust deliveries of 75,869 units during the quarter, solidifying its position in the premium EV market.
Leading financial institutions have reaffirmed their bullish stance on Xiaomi's growth trajectory. Goldman Sachs highlighted Xiaomi's strategic leadership in building the world's largest AIoT ecosystem, predicting that it will emerge as a key winner in the AI-driven era. Morgan Stanley emphasized the transformative potential of Xiaomi's automotive ventures, noting that the SU7 Ultra and the YU7 SUV could serve as major catalysts in 2025.
Lu Weibing, president of Xiaomi, stated, "In April 2025 alone, Xiaomi SU7 deliveries exceeded 28,000 units, making it the best-selling model in China's premium automotive segment priced above 200,000 yuan." He further emphasized the company's commitment to ramping up production capacity to meet its annual delivery target of 350,000 vehicles.
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