International Revenue Xiaomi Up 118.1% to RMB70.0 Billion

Apr 1, 2019

The Group recorded a strong revenue of approximately RMB174.9 billion, representing a year-on-year increase of 52.6%, among which international revenue grew 118.1% year-on-year to RMB 70.0 billion, accounting for 40% of its total revenue. Net profit for year 2018 was approximately RMB13.478 billion. Adjusted net profit (Non-IFRS Measure) grew by 59.5% year-on-year to RMB8.6 billion.

Revenue Xiaom

Just a few months ago, we were discussing the decline in Xiaomi stock prices in various markets. Then I told you that the only ones who can anticipate the future are the people who understood the philosophy of this group of companies. Speculators in financial markets want immediate profit without risk. They are not able to make a difference between a long-term business plan and a short-term financial plan.

What is noteworthy is that presenting these official earnings reports did not lead to major stock price fluctuations. Do we understand that this group of speculators at this time did not understand the financial potential of Xiaomi?

“In 2018, Xiaomi continued to shine – even in the face of fierce competition from domestic and international peers – thanks to our unique and powerful “triathlon” business model. During 2018, our large home appliances business emerged from a nascent vertical to a robust business unit, and we also entered the white goods market. Besides, 2018 also marked the start of our overseas IoT business expansion. The strategies to which Xiaomi adheres, such as adopting multi-brand strategy in our smartphone business, strengthening the performance of the high-end market, accelerating the development of new retail channels and focusing on AI development and application, all yielded remarkable results during FY2018. In 2019, we officially launched the “smartphone + AIoT” dual-engine strategy. With the upcoming 5G deployment, we believe there will be more opportunities available for AIoT in the future. We expect to invest over RMB10.0 billion in the development in AIoT in the next 5 years to capture this exciting opportunity. A strong growth across all business segments in 2018 reinforces our confidence in the business and we are positive that we are able to reach our full potential in 2019.” said Xiaomi Founder, Chairman and CEO Mr. Lei Jun.

Every time I read an official statement from the Xiaomi group about the strategy for the next period I’m looking for some information. Entering the US market. We still have to wait.

By Tudor
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