Xiaomi Group held its 2024 annual results conference call. Key highlights:
1. Record-breaking performance: Total revenue reached 365.9 billion yuan, up 35% YoY. Adjusted net profit hit 27.2 billion yuan, up 41% YoY.
2. Smartphone business: Shipments increased over 15%, outpacing top 5 manufacturers. Global market share rose 1 percentage point to 13.8%.
3. AIoT business: Revenue exceeded 100 billion yuan for the first time. Smart TV business grew over 55% YoY.
4. Xiaomi EV: Delivered 113,600 units in the first 9 months, with over 248,000 orders.
5. High-end strategy: Market share in 4,000-6,000 yuan segment in mainland China increased from 5.6% to 16.8% over five years.
6. Retail expansion: Aims to have 20,000 Mi Home stores in mainland China and 10,000 overseas stores in the next five years.
7. R&D investment: Plans to invest 300 billion yuan in R&D in 2025, totaling over 100 billion yuan from 2021 to 2025.
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.