Xiaomi Corporation 2018 Reports Strong Operating Results

Xiaomi Corporation, an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core, announces its unaudited consolidated results for the second quarter (“2Q2018”) and first half of 2018 (“1H2018”) ended June 30, 2018.

In the second quarter of 2018, Xiaomi recorded outstanding operating results, proving the strength and resilience of its unique and powerful “triathlon” business model, which encompasses hardware, new retail and internet services. The group recorded revenue of approximately RMB45,235.5 million, representing an increase of 68.3% year-on-year, among which international revenue grew 151.7% year-on-year to RMB16,412 million, accounting for 36.3% of its total revenue. Net profit for the second quarter was RMB14,633 million. Adjusted profit (Non-IFRS Measure) increased by 25.1% year-on year to RMB2,117 million.

1H2018 Financial Highlights

  • Total revenue was RMB79,648 million, an increase of 75.4% year-on-year
  • Gross profit was RMB9,953 million, an increase of 57.7% year-on-year
  • Net profit was RMB7,605 million
  • Non-IFRS adjusted profit was RMB3,816 million, an increase of 62.2% year-on-year
  • Earnings per share were RMB0.759

 2Q2018 Financial Highlights

  • Total revenue was RMB45,235.5 million, an increase of 68.3% year-on-year
  • Gross profit was RMB5,652 million, an increase of 46.9% year-on-year
  • Net profit was RMB14,633 million
  • Non-IFRS adjusted profit was RMB2,117 million, an increase of 25.1% year-on-year
  • Earnings per share were RMB1.409

Xiaomi Founder, Chairman and CEO Lei Jun, says, “On 9 July this year, Xiaomi listed on the Main Board of the Hong Kong Stock Exchange, marking a significant milestone in our journey.”

“Eight years ago, I came up with a crazy idea, which was to build a smartphone business based on the business model of an internet company, transforming the global image of “Made in China” products and benefiting everyone across the globe with amazing products at honest pricing.”

He adds, “The interim results that Xiaomi has announced prove that this idea has become reality. Tapping on the Hong Kong capital market, we are full of confidence and truly excited by the prospects of the Group. Xiaomi will continue building on our unique and powerful ‘triathlon’ business model to further penetrate the high-end smartphone market, introduce more IoT products to international markets, and expand our range of internet services, laying strong foundations for our revenue growth in the future ahead.”

 

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