Slide 1: Xiaomi Corporation 2025 Fourth Quarter and Annual Results
Xiaomi Corporation 2025 Fourth Quarter and Annual Results
Slide 2: Disclaimer
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 sub
Slide 3: Record Revenue and Adjusted Net Profit in 2025
Record Revenue and Adjusted Net Profit in 2025 Group Revenue Gross Profit Margin Adjusted Net Profit1 RMB 457.3 billion (+25.0% YoY) 22.3% (+1.3ppt YoY) RMB 39.2 billion (+43.8% YoY) Smartphone x AIoT Segment Smart EV, AI and Other New Initiatives Segment Revenue Revenue RMB 351.2 billion (+5.4% YoY
Slide 4: 2025 Business Highlights
2025 Business Highlights Smartphones IoT and Lifestyle Products Smart Electric Vehicles Global Smartphone Ranked Top 3 for 22 Smart Large Home Appliances Revenue Delivered 411,082 Smart Electric Vehicles Consecutive Quarters with 13.3% Market Increased 23.1% YoY and Reached a Increased 200.4% YoY Sh
Slide 5: Steady Growth of the Global User Base
Steady Growth of the Global User Base Broad User Base Leading Consumer AIoT Platform Global MAU1 Number of Connected Devices2 Millions 754.1 Millions 1,079.2 702.3 904.6 641.2 739.7 2023 2024 2025 2023 2024 2025 Chinese Mainland MAU1 Users with 5 or More Devices Connected to Millions Xiaomi’s AIoT P
Slide 6: R&D Expenses Increased 38% YoY to RMB33.1 Billion in 2025
R&D Expenses Increased 38% YoY to RMB33.1 Billion in 2025 R&D Expenses 2025 R&D Accomplishments RMB Billions 33.1 24.1 19.1 XRING O1 Dynamic Xiaomi HyperRGB Xiaomi AI Glasses 16.0 Back Display 13.2 9.3 2020 2021 2022 2023 2024 2025 Xiaomi Ultra-High 4-in-1 Domain End-to-End & 10mn Clips Strength Ste
Slide 7: Launched Foundation Models in March 2026 Tailored for the Agent Era
Launched Foundation Models in March 2026 Tailored for the Agent Era MiMo-V2-Pro Artificial Analysis Intelligence Index1 Ranked 8th Globally Ranked 5th Among Model Providers MiMo-V2-Pro Pinch Bench Task Completion Rate2 Ranked 3rd Globally MiMo-V2-Omni Ranked 2nd Globally MiMo-V2-Pro Token Usage on O
Slide 8: Integrating Proprietary Foundation Models into Our Human x Car x Home Ecosystem
Integrating Proprietary Foundation Models into Our Human x Car x Home Ecosystem Smartphone Ecosystem Smart Home Ecosystem Xiaomi miclaw Xiaomi Miloco Smartphone AI Agent Smart Home Exploration Empowered by MiMo Large Foundation Model MiMo-7B MiMo-7B-VL MiMo-7B-Audio MiMo-Embodied MiMo-V2-Flash MiMo-
Slide 9: Developing Frontier Embodied Intelligence
Developing Frontier Embodied Intelligence TacRefineNet Apply Embodied Intelligence Dexterous Robotic Grasping Xiaomi-Robotics-0 in Smart Manufacturing Fine-Tuning Model Tactile-Driven, Dexterous Robotic Open-Source VLA Model with 4.7B Completed 3-Hour Continuous, Fully Grasping Fine-Tuning Model Par
Slide 10: Unveiled Xiaomi Vision Gran Turismo Concept Car
Unveiled Xiaomi Vision Gran Turismo Concept Car The First Chinese Brand The First Technology Company to Join the Vision Gran Turismo Project Xiaomi Vision Gran Turismo is The 51st Vision GT Concept Car Note: Xiaomi Vision Gran Turismo was announced in Barcelona on February 28, 2026 10
Slide 11: Continued to Expand New Retail Network Globally
Continued to Expand New Retail Network Globally Number of Xiaomi Stores Number of Over 500 Xiaomi Number of New Retail Stores in Chinese Mainland Stores in Chinese Mainland Overseas 3,000+ 170+ 435+ ~18,000 ~450 ~15,000 ~240 ~70 ~15 2024 2025 2024 2025 2024 2025 11
Slide 12: Smartphones
Smartphones
Slide 13: Smartphone Shipments Ranked Top 3 for 22 Consecutive Quarters
Smartphone Shipments Ranked Top 3 for 22 Consecutive Quarters 350.0 15.0% 2025 Shipments YoY Shipments Vendor 2025 Market Share (Million Units) Change 300.0 13.8% 13.3% Apple 240.6 19.3% 6.5% 250.0 12.8% 12.8% 200.0 168.6 165.4 Samsung 239.1 19.2% 7.3% 152.7 146.1 150.0 Xiaomi Xiaomi 42.8 165.4 13.8
Slide 14: Continued to Gain Smartphone Market Share in Chinese Mainland
Continued to Gain Smartphone Market Share in Chinese Mainland 2025 Units Sold YoY Units Sold Vendor 2025 Market Share (Million Units) Change Ranking No.5 No.5 No.3 No.2 Peer v 46.5 16.8% -2.6% 70.0 16.6% 15.9% Xiaomi 45.9 16.6% 5.4% 14.8% 60.0 13.6% 15.0% 50.0 43.6 45.9 Peer A 45.2 16.3% 11.0% 39.8
Slide 15: Leadership Across All Major International Markets
Leadership Across All Major International Markets 2025 Smartphone Shipments Ranking and Market Share YoY Market Share Change +0.6% -0.5% No.3 No.3 20.3% -2.6% Europe 13.3% No.2 Global 16.0% Middle East +0.9% No.2 +0.9% +1.4% -4.3% No.2 17.0% 17.5% No.3 Southeast Latin America 12.7% No.4 Asia Africa
Slide 16: Steadily Increasing Premium Smartphone Market Share
Steadily Increasing Premium Smartphone Market Share Premium Smartphone as % of Premium Smartphone Market Share Total Smartphone Units Sold in Chinese Mainland in Chinese Mainland RMB4,000–6,000 RMB6,000–10,000 27.1% 16.9% 16.8% 17.3% 23.3% 20.3% 17.7% 7.6% 4.5% 1.6% 1.7% 2.2% 2022 2023 2024 2025 202
Slide 17: Xiaomi 17 Ultra: Flagship Imaging Technology with Elite Performance
Xiaomi 17 Ultra: Flagship Imaging Technology with Elite Performance Ultra Ultra Ultra Camera Performance Experience Received Leica APO Optical Xiaomi HyperRGB UWB Interconnectivity Certification for the First Time Low-Power Display The Leica 1-inch Ultra Snapdragon® 8 Elite Gen 5 Cross-Device Ecosys
Slide 18: IoT and Lifestyle Products
IoT and Lifestyle Products
Slide 19: Smart Home Appliances Revenue Reached a Record High in 2025
Smart Home Appliances Revenue Reached a Record High in 2025 Air Conditioners Air conditioner shipments exceeded 8.5 million units in 2025, a record high, up 24%+ YoY Refrigerators Refrigerator shipments exceeded 2.8 million units in 2025, a record high, up 4%+ YoY Washing Machines Washing machine sh
Slide 20: Wearables: Leading Position Globally
Wearables: Leading Position Globally Wearable Bands TWS AI Glasses Global Chinese Mainland Global Chinese Mainland Global Chinese Mainland Ranking Ranking Ranking Ranking Ranking Ranking No.1 No.2 No.2 No.1 No.3 No.1 Source: Omdia, by shipments in 2025. Wearable bands include basic bands, basic watc
Slide 21: Tablets: Ranked Top 5 Globally in 2025
Tablets: Ranked Top 5 Globally in 2025 Ranked Top 3 in Chinese Mainland Vendor 2025 Global Shipments 2025 YoY Shipments (Million Units) Market Share Change Ranked Top 5 Globally Apple 63.4 39.3% 11.5% Samsung 26.7 16.5% -4.1% Lenovo 13.2 8.1% 25.6% Huawei 12.0 7.5% 12.2% Xiaomi 11.5 7.1% 25.2% Other
Slide 22: Smart EV, AI and Other New Initiatives
Smart EV, AI and Other New Initiatives
Slide 23: 2025 Full Year Delivery Exceed 410,000 Units
2025 Full Year Delivery Exceed 410,000 Units Xiaomi EV Number of Delivery +200.4% 411,082 145,115 108,796 75,869 81,302 136,854 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 23
Slide 24: No.1 in Multiple Sales Rankings in 2025
No.1 in Multiple Sales Rankings in 2025 Best-Selling Sedan in 20251 Best-Selling SUV for 7 Consecutive Months2 Among Sedans Priced Above RMB200,000 Among Mid-Full Size Xiaomi SU7 Xiaomi YU7 1 Autohome, as of December 2025 2 Autohome, as of February 2026 24
Slide 25: Introduced New-Generation Xiaomi SU7 Series in March 2026
Introduced New-Generation Xiaomi SU7 Series in March 2026: The Driver's Car for the New Era New-Generation Xiaomi SU7 Standard RMB 219,900 New-Generation Xiaomi SU7 Pro RMB 249,900 New-Generation Xiaomi SU7 Max RMB 303,900 All Equipped with V6s Plus Xiaomi HyperEngine All Offering Long-Range Capabil
Slide 26: New-Generation Xiaomi SU7: Safety Upgrade
New-Generation Xiaomi SU7: Safety Upgrade 2,200MPa 9 Airbags Safety Design of Door Handles Ultra-High Strength Steel 26
Slide 27: New-Generation Xiaomi SU7: Assisted Driving Upgrade
New-Generation Xiaomi SU7: Assisted Driving Upgrade New-Generation Xiaomi SU7 Series All Offering Xiaomi XLA Cognitive Large Model Mall Parking Garage Spot-Level Navigation Complex Scenario Understanding and Reasoning Voice-Controlled Driving Assistance 27
Slide 28: Continued to Expand EV Sales Network
Continued to Expand EV Sales Network EV Sales Centers and City Coverage 138 Cities 477 Stores 119 Cities 402 Stores 92 Cities 335 Stores 65 Cities 235 Stores Q1 2025 Q2 2025 Q3 2025 Q4 2025 Note: Sales centers of Xiaomi EV includes Xiaomi EV delivery centers, Xiaomi EV sales and service centers and
Slide 29: Financial Highlights
Financial Highlights
Slide 30: 2025 Total Revenue Reached Record High with 25% YoY Growth
2025 Total Revenue Reached Record High with 25% YoY Growth Revenue RMB Billions 457.3 365.9 106.1 32.8 116.0 113.1 116.9 111.3 18.6 21.3 29.0 37.2 351.2 333.2 92.7 94.7 84.1 79.7 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 Smartphone x AIoT segment Smart EV, AI and other new initiatives segment Group
Slide 31: 2025 Revenue by Category
2025 Revenue by Category Smartphones Revenue IoT and Lifestyle Products Revenue RMB Billions RMB Billions Smartphone shipments reached IoT and lifestyle products revenue 165.2 million units, down 2.0% YoY reached RMB123.2 billion, a record 123.2 191.8 186.4 high, up 18.3% YoY Smartphones ASP reached
Slide 32: Gross Profit Margin Reached Record Highs
Gross Profit Margin Reached Record Highs Group Gross Profit Group RMB Billions % 22.3% 101.8 20.9% 25% 76.6 8% 57.5 28% 2024 2025 34% 47.6 39% Smartphone x AIoT Segment Smart EV, AI and Other New Initiatives 43% 28% 28% Segment 23% % % 24% 21.7% 24.3% 21.2% 40% 32% 18.5% 31% 20% 2022 2023 2024 2025
Slide 33: Smart EV, AI and Other New Initiatives Segment Achieved Operating Profit in 2025
Smart EV, AI and Other New Initiatives Segment Achieved Operating Profit in 2025 Income/(Loss) from Operations Related to Smart EV, AI and Other New Initiatives Segment1 2 RMB Billions 3.0 2.5 2.0 1.5 1.1 4.0 0.9 1.0 0.7 0.5 2.0 - - -0.5 -2.0 -0.3 -1.0 -0.5 -4.0 Q1 2025 Q2 2025 Q3 2025 Q4 2025 -6.0
Slide 34: Adjusted Net Profit Reached Record High in 2025
Adjusted Net Profit Reached Record High in 2025 Adjusted Net Profit1 RMB Billions 60.0 8.6% 9.0% 7.4% 8.0% 50.0 7.1% 7.0% 40.0 39.2 6.0% 30.0 27.2 5.0% 19.3 4.0% 20.0 3.0% 3.0% 10.0 8.5 2.0% - 1.0% 2022 2023 2024 2025 Adjusted net profit1 Adjusted net profit margin YoY% -61.4% +126.3% +41.3% +43.8%
Slide 35: Capex Reached RMB18.2 Billion in 2025 Increased 73% YoY
Capex Reached RMB18.2 Billion in 2025 Increased 73% YoY Capex RMB Billions 20.0 18.2 18.0 16.0 14.0 60.0 5.4 12.0 12.0 5.2 10.5 4.9 50.0 10.0 40.0 8.0 4.1 2.7 3.2 3.8 3.9 30.0 6.0 20.0 1.1 4.0 6.4 6.1 10.0 2.0 1.6 1.7 1.6 1.3 - - Q1 2025 Q2 2025 Q3 2025 Q4 2025 2024 2025 Smartphone x AIoT segment Sm
Slide 36: Continued to Return Value to Our Shareholders
Continued to Return Value to Our Shareholders Shares Repurchased HKD Billions 6.29 Returned cash to shareholders through repurchasing 152.6 million shares (HKD6.29 billion) in 2025 4.68 130.5 million shares (HKD4.68 billion) in 20261 3.71 Adopted automatic share buy-back program for the 2.76 first t
Slide 37: Deepening Our ESG Commitments and Efforts
Deepening Our ESG Commitments and Efforts ESG Ratings Low-Carbon Initiatives Achieved a Historical Best Climate Change Score Procured Over 40 million kWh of Green Electricity Score of 81 Points in 2025 Improved to B Level in 2025 with a YoY Increase of over 10 times Secured the Gold Medal Water Secu
Slide 38: IR@xiaomi.com https://ir.mi.com/
IR@xiaomi.com https://ir.mi.com/