Slide 1: Xiaomi Corporation Q1 2023 Results Announcement
Xiaomi Corporation Q1 2023 Results Announcement
Slide 2: Disclaimer
By attending the meeting where this presentation is made, or by reading the presentation materials, you agree to be bound by the following limitations: The information in this presentation has been prepared by representatives of Xiaomi Corporation (the “Company”, and together with its subsidiaries,
Slide 3: Q1 2023 Overall Performance
Q1 2023 Overall Performance Financial Performance Smartphone Market Position Revenue Adjusted Net Profit1 RMB RMB #3 11.3% Global Global 59.5 billion 3.2 billion, up 13.1% YoY Market Share Ranking2 Market Share2 Including expenses related to smart EV and other new initiatives RMB1.1 billion User Bas
Slide 4: 2023 Key Corporate Strategies
2023 Key Corporate Strategies Dual Emphasis on Continue to Invest Prudent Operations Scale and in the Future Profitability 4
Slide 5: Relentless Execution of Smartphone Premiumization Strategy
Relentless Execution of Smartphone Premiumization Strategy Four Consecutive Premium Product Series Well Received among Users1 Xiaomi 13 Ultra Xiaomi 13 Series Xiaomi MIX Fold 2 Xiaomi 12S Ultra Launched in April 2023 Launched in December 2022 Launched in August 2022 Launched in July 2022 99%+ 99%+ 9
Slide 6: Strengthened Offline Retail Performance in Mainland China
Strengthened Offline Retail Performance in Mainland China Average single-store GMV by Quarter Smartphone Offline Market Share1 7.9% 6.7% 6.7% 2021 2022 Q1 2023 55%+ Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 of Xiaomi 13 Series2 and Xiaomi 13 Ultra sold via offline retail stores3 1 By units sold in mai
Slide 7: R&D Expenses Reached RMB4.1 billion in Q1 2023
R&D Expenses Reached RMB4.1 billion in Q1 2023 R&D Expenses RMB Billions Number of R&D Employees1 Number of Granted Patents 20+ Globally1 50%+ 32,000+ of Total Employees1 16.0 13.2 9.3 7.5 Xiaomi Camera Algorithm Team 5.8 4.1 Won 4 Champions in CVPR 2023 3.2 CVPR is the most influential seminar glob
Slide 8: Embrace AI Opportunities Proactively
Embrace AI Opportunities Proactively Self-developed Self-developed Smartphone 1,200+ AI-related core technologies AI assistant operating system employees Potential Camera algorithm Automotive Assembled AI Lab collaboration with operating system large language model third parties Autonomous driving …
Slide 9: Gross Profit Margin Improved in Q1 2023
Gross Profit Margin Improved in Q1 2023 Smartphone Gross Profit Margin Overall Gross Profit Margin % % 11.2% 19.5% 9.9% 17.3% 17.2% 16.8% 16.6% 8.9% 8.7% 8.2% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 9
Slide 10: Continued to Control Operating Expenses
Continued to Control Operating Expenses Operating Expenses RMB Billions 11.9 10.4 10.2 1.2 10.0 0.4 0.6 0.8 9.4 1.1 10.6 9.6 9.8 9.4 8.2 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Operating expenses (excluding expenses related Expenses related to smart EV and other new initiatives to smart EV and other
Slide 11: Lowest Inventory Levels in 9 Quarters
Lowest Inventory Levels in 9 Quarters Inventory RMB Billions 57.8 56.1 53.0 50.4 10.4 11.4 9.0 8.1 42.6 7.3 26.6 32.5 27.3 28.7 22.0 19.8 17.2 19.6 17.1 16.9 (1.7) (2.4) (2.9) (3.5) (3.7) Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Raw materials Finished goods Others1 Provision for impairment 1 Includin
Slide 12: Global MIUI MAU exceeded 600 million
Global MIUI MAU1 exceeded 600 million 500 million 2021/11 600 million 2023/05 400 million 2021/01 300 million 2019/10 200 million 100 million 2018/06 First 100 2015/08 Cornerstone Users 2010/08/16 1 Global MIUI MAU as of May 21, 2023 refers to the number of active users in the last 30 days 12
Slide 13: Smartphones
Smartphones
Slide 14: Resilient Performance Despite Macroeconomic Headwinds
Resilient Performance Despite Macroeconomic Headwinds Smartphones Revenue RMB Billions In Q1 2023, smartphones revenue was RMB35.0 billion 36.7 35.0 Smartphone shipments were 30.4 million units ASP increased to RMB1,152, up 2.7% QoQ Gross profit margin reached 11.2% Q4 2022 Q1 2023 14
Slide 15: Global Smartphone Shipments Ranked No.3 in Q1 2023
Global Smartphone Shipments Ranked No.3 in Q1 2023 Q1 2023 Shipments QoQ Shipments Changes Vendor Q1 2023 Market Share (Million Units) (Million Units) Samsung 60.3 22.4% 2.0 Apple 58.0 21.5% -15.2 Xiaomi 30.5 11.3% -2.7 OPPO 26.6 9.9% -1.9 vivo 20.9 7.8% -3.0 Others 73.4 27.2% -6.3 Total 269.8 100.0
Slide 16: Mainland China Smartphone Units Sold Ranked No.4 in Q1 2023
Mainland China Smartphone Units Sold Ranked No.4 in Q1 2023 Q1 2023 Units Sold Vendor Q1 2023 Market Share QoQ Units Sold Growth (Million Units) Apple 13.5 18.9% -13.2% OPPO 11.6 16.2% 17.5% vivo 10.3 14.5% 25.5% Xiaomi 10.3 14.4% 22.2% HONOR 10.1 14.2% 10.2% Others 15.6 21.8% 10.4% Total 71.3 100.0
Slide 17: Leadership Across All Major Markets Globally
Leadership Across All Major Markets Globally Q1 2023 Xiaomi Smartphone Shipments Ranking and Market Share No.3 18.9% Europe No.3 13.8% Middle East No.3 No.3 12.0% 13.3% No.3 Southeast Latin America 6.1% No.4 Asia Africa 16.2% India Smartphone Market Share Ranked Top 3 in 47 Markets and Top 5 in 64 M
Slide 18: Xiaomi 13 Ultra: Unparalleled Imaging Experience
Xiaomi 13 Ultra: Unparalleled Imaging Experience Launched in Mainland China in April 2023 Further-upgraded Summicron Lens for Mobile Imaging, Co-developed with Leica A Quad Camera System with Leica Optical Lens Covering Six Focal Lengths Powerful 2K Display with Peak Self-developed Surge Snapdragon
Slide 19: Redmi Note 12 Turbo: Ultra Performance
Redmi Note 12 Turbo: Ultra Performance Launched in Mainland China in March 2023 Performance Display Camera OLED screen with Snapdragon 7+ Gen 2 super-thin frame 64MP + OIS Up to 16GB of RAM and 1TB of storage Launched together with Redmi Buds 4 Harry Potter Edition 19
Slide 20: AIoT
AIoT
Slide 21: Global Leading Consumer AIoT Platform
Global Leading Consumer AIoT Platform Number of Connected Devices1 Users with 5 or More Devices Mi Home App MAU Millions Connected to Xiaomi’s AIoT Millions Platform1 Millions 78.1 618.0 12.3 75.8 11.6 72.4 589.4 10.9 70.8 10.2 9.5 558.3 65.8 526.9 478.1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q1 20
Slide 22: IoT and Lifestyle Products Revenue
IoT and Lifestyle Products Revenue IoT and Lifestyle Products Revenue RMB Billions 21.4 In Q1 2023, IoT and lifestyle products 16.8 revenue reached RMB16.8 billion Gross profit margin reached 15.7%, a record high Q4 2022 Q1 2023 22
Slide 23: Smart Large Home Appliances: Solid Growth
Smart Large Home Appliances: Solid Growth Revenue Grew by 60%+ YoY in Q1 2023 Air Washing Refrigerators Conditioners Machines Air conditioner shipments exceeded 420k Refrigerator shipments exceeded 350k units Washing machine shipments exceeded units in Q1 2023, up 60%+ YoY in Q1 2023, tripled the sh
Slide 24: Smart TV: Leading Position Globally
Smart TV: Leading Position Globally Xiaomi TV Master Mini LED 86" Launched in Mainland China in April 2023 Global Smart TV Shipments in Q1 2023 2.8 million Ranked Top 5 Globally1 ` 1 According to AVC, by shipments in Q1 2023 24
Slide 25: Wearables: Leading Position in Mainland China
Wearables: Leading Position in Mainland China Leading Brand New Product Launch Xiaomi Smart Band 8 Wearable Bands TWS Launched in Mainland China in April 2023 Mainland China Mainland China A high-resolution 1.62” full AMOLED screen Shipments1 Shipments1 A variety of accessories that allow affixing t
Slide 26: Numerous Global Design Awards for Our AIoT Products
Numerous Global Design Awards for Our AIoT Products 26
Slide 27: Internet Services
Internet Services
Slide 28: Global MIUI MAU Reached 595 million and Mainland China 146 million
Global MIUI MAU Reached 595 million and Mainland China MIUI MAU Reached 146 million in Q1 2023 YoY % Global MIUI MAU 12.4% Millions 594.8 563.9 582.1 547.0 12.7 529.1 17.0 18.2 17.8 Global MIUI MAU1 reached 594.8 million, YoY growth of 65.7 million (12.4%) Mainland China MIUI MAU1 reached 146.2 Q1 2
Slide 29: Steady Internet Services Revenue
Steady Internet Services Revenue Internet Services Revenue RMB Billions QoQ % 7.2 7.0 1.4 1.3 -4.2% In Q1 2023, internet services revenue 1.0 1.3 25.7% reached RMB7.0 billion Gaming revenue reached a record high 4.7 4.4 -7.3% Q4 2022 Q1 2023 Advertising Gaming Other internet value-added services 29
Slide 30: Strong Recovery of Gaming Business
Strong Recovery of Gaming Business Tiered User Management to Increase Paying Users Xiaomi Gaming Revenue YoY Growth % Refined Business Operation to Enhance 16.3% Activation and Conversion 8.7% Continued Premium Smartphone User Penetration 4.7% 3.0% 1.8% Diversified Game Portfolio Q1 2022 Q2 2022 Q3
Slide 31: Overseas Internet Services Revenue Continued to Grow
Overseas Internet Services Revenue Continued to Grow Overseas Internet Services Revenue In Q1 2023, overseas internet as % of Total Internet Services Revenue services revenue reached RMB1.8 billion, up 16.4% YoY, accounting for 25.7% of total internet services 26.1% 25.7% 23.9% 24.2% revenue 21.9% O
Slide 32: Financials
Financials
Slide 33: Q1 2023 Revenue by Region and Segment
Q1 2023 Revenue by Region and Segment Total Revenue Total Revenue by Region RMB Billions RMB Billions 66.0 45.4% 59.5 59.5 54.6% Mainland China Overseas Q4 2022 Q1 2023 Smartphones Revenue IoT and Lifestyle Products Revenue Internet Services Revenue RMB Billions RMB Billions RMB Billions 36.7 21.4 7
Slide 34: Q1 2023 Gross Profit Margin by Segment
Q1 2023 Gross Profit Margin by Segment 11.2% Smartphones 8.2% • Decreased warranty provision (one-time cost of approximately RMB0.7 billion in Q4 2022) • Improved product mix Overall Q4 2022 Q1 2023 19.5% 17.2% 15.7% IoT and Lifestyle Products 14.3% • Increased gross profit margin of smart TVs and l
Slide 35: Adjusted Net Profit up 121.3% QoQ
Adjusted Net Profit up 121.3% QoQ Adjusted Net Profit Movement RMB Billions (1.8) 2.5 1.1 0.9 1.2 3.2 1.5 Q4 2022 Adjusted Increase of Smartphones Decrease of Operating Others Q1 2023 Adjusted Net Profit Gross Profit Expenses Net Profit Expenses related to smart EV and other new initiatives 35
Slide 36: Strong Cash Position
Strong Cash Position Cash Resources1 RMB Billions 94.3 94.6 Our cash resources were approximately RMB94.6 billion Q4 2022 Q1 2023 1 Including but not limited to (i) cash and cash equivalents, (ii) restricted cash, (iii) short-term bank deposits, (iv) short-term investments measured at fair value thr
Slide 37: ESG
ESG
Slide 38: 2022 ESG Report Published (For the 5th Year)
2022 ESG Report Published (For the 5th Year) Greenhouse Gas (“GHG”) Emissions (Metric Tons CO2e) 2021 2022 Scope 1 Emissions1 9,096.95 7,122.60 Scope 2 Emissions1 73,723.21 78,620.01 Being verified and expected Scope 3 Emissions 12,368,223.29 to release in July 2023 2022 Environmental-related data a
Slide 39: GHG Emission Reduction Targets
GHG Emission Reduction Targets We are committed to reducing our Scope 1 and Scope 2 GHG emissions By no later Reduce GHG emissions1 from our main operating segments2 by at least 70% than 2030 from the base year3 level By no later Reduce GHG emissions from our main operating segments by at least 98%
Slide 40: IR@xiaomi.com
IR@xiaomi.com https://ir.mi.com/