Xiaomi Q4 Revenue Reached 116.9 Billion Yuan, Setting Historical Record, with Automotive and AI Innovation Business Annual Revenue Surging 223.8% Year-over-Year

In 2025, Xiaomi Group delivered a “historic breakthrough” performance. The total annual revenue reached 457.3 billion yuan, a 25.0% increase year-over-year, with adjusted net profit of 39.2 billion yuan, up 43.8%, both setting new records. Despite challenges in the core smartphone business due to rising costs and fierce competition, Xiaomi successfully built a new growth engine with explosive growth in its automotive business and steady performance in AIoT, creating a “full ecosystem of people, vehicles, and homes.”

Most notably, the innovative businesses of smart electric vehicles and AI achieved their first full-year operating profit, reaching 900 million yuan in operating income. This segment’s annual revenue surpassed 100 billion yuan for the first time, reaching 106.1 billion yuan, a 223.8% increase year-over-year, with gross profit margin rising from 18.5% in 2024 to 24.3%. The total new car deliveries for the year reached 411,000 units, a 200.4% increase, with the SU7 series ranking first in sales among pure electric models priced above 200,000 yuan in mainland China.

Despite headwinds in the fourth quarter, such as rising costs of key components and intensified industry competition, Xiaomi demonstrated strong resilience. Total revenue in Q4 was 116.9 billion yuan, up 7.3% year-over-year, maintaining over 100 billion yuan for the fifth consecutive quarter. However, adjusted net profit for the quarter was 6.3 billion yuan, down 23.7% year-over-year and 43.9% quarter-over-quarter, mainly due to declining gross margins in smartphones and increased R&D and sales expenses.

Looking at the full year, Xiaomi’s “smartphone × AIoT” core business remains solid. The segment’s annual revenue was 351.2 billion yuan, up 5.4% year-over-year, with a record-high gross profit margin of 21.7%. The high-end strategy continues to pay off, with the share of high-end smartphones in mainland China increasing to 27.1%, and the market share of models priced between 4,000 and 6,000 yuan reaching 17.3%. The global monthly active users exceeded 754 million, and the AIoT platform connected devices reached 1.079 billion, further strengthening user ecosystem barriers.

More updates to come.

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