Xiaomi Posts 71.7% Jump in Q2 2019 Net Profit

Xiaomi Corporation, an internet company with smartphones and smart hardware connected by an Internet of Things platform at its core, today announced its unaudited consolidated results for the second quarter and the six months ended 30 June 2019 (“1H2019” or “the Period”).

In 1H2019, Xiaomi reported a consensus-beating performance, underpinned by its “Smartphone + AIoT” dual-engine strategy that offers operational efficiency and enhanced risk resilience. During the Period, the Group’s total revenue increased by 20.2% to approximately RMB95.71 billion. Revenue from overseas business was RMB38.6 billion, accounting for more than 40% of total revenue. Adjusted net profit (non-IFRS measure) was RMB5.72 billion, up 49.8% year-on-year (“YoY”). In the second quarter of 2019 (“2Q2019”), Xiaomi’s total revenue grew by 14.8% to RMB51.95 billion. Adjusted net profit (non-IFRS measure) was RMB3.64 billion, increasing substantially by 71.7% YoY.

1H2019 Financial Highlights

  • Total revenue was approximately RMB95.71 billion, up 20.2% YoY;
  • Gross profit was approximately RMB12.47 billion, up 25.3% YoY;
  • Net profit was approximately RMB5.15 billion;
  • Non-IFRS adjusted net profit was approximately RMB5.72billion, up 49.8% YoY;
  • Earnings per share were RMB0.214.

2Q2019 Financial Highlights

  • Total revenue was approximately RMB51.951 billion, up 14.8% YoY;
  • Gross profit was approximately RMB7.26billion, up 28.4% YoY;
  • Net profit was approximately RMB1.96 billion;
  • Non-IFRS adjusted net profit was approximately RMB3.64 billion, up 71.7% YoY;
  • Earnings per share were RMB0.082.

Xiaomi Founder, Chairman and CEO Mr. Lei Jun said, “Thanks to the Xiaomi relentless efforts, we have managed to achieve solid growth in our businesses, posting a consensus-beating profit and becoming the youngest Fortune Global 500 company in 2019, despite global economic challenges. Our performance is testament to the success of our ‘Smartphone + AIoT’
dual-engine strategy and the Xiaomi business model. Looking ahead, we will continue to strengthen our R&D capabilities and investments so as to capture the great opportunities brought by 5G and AIoT markets and strive towards ongoing achievements for the company.”

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