1. Xiaomi reported record 2024 revenue of 365.9 billion yuan, up 35% year-over-year. Adjusted net profit reached 27.2 billion yuan, up 41% year-over-year.
2. Core business profit hit a record 33.5 billion yuan in 2024, with a 10% profit margin.
3. Smartphone business outperformed the market with over 15% shipment growth. Global market share increased to 13.8%.
4. IoT business revenue exceeded 100 billion yuan for the first time, with smart home appliances growing over 55% and tablet shipments up over 70%.
5. Internet services revenue reached a record high of 34.1 billion yuan, up 13% year-over-year.
6. Xiaomi's electric vehicle business delivered 136,854 units in 2024, with an average price of 234,470 yuan.
7. R&D expenses increased 25.9% to 24.1 billion yuan in 2024. The company plans to invest 30 billion yuan in R&D in 2025.
8. Xiaomi aims to build 5,000 new retail stores in mainland China in 2025, reaching 20,000 Mi Home stores total.
Disclaimer: This earnings call summary is generated by AI and is for informational purposes only. Due to technical limitations, inaccuracies may exist. It does not constitute investment advice or commitments.