Xiaomi Corporation Class B · HKEX:1810
Xiaomi Corporation Class B — Q4 2024 Earnings Presentation
40 slides from Xiaomi Corporation Class B's earnings presentation, Mar 18, 2025
Slide 1: Xiaomi Corporation 2024 Fourth Quarter and Annual Results
Xiaomi Corporation 2024 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: 2024 Financial Highlights
2024 Financial Highlights Total Revenue Profit RMB 365.9 billion Smartphone x AIoT1 21.2% +35.0% YoY Gross Profit Margin - Smartphones 12.6% - IoT and Lifestyle Products 20.3% Smart EV and Other New Initiatives 20.9% - Internet Services 76.6% RMB 32.8 billion Internet Services Smart EV and Other New
Slide 4: Human x Car x Home Strategy Drove Outstanding Results in 2024
Human x Car x Home Strategy Drove Outstanding Results in 2024 Human Car Home Global Smartphone Ranked Delivered 136,854 Vehicles in Smart Large Home Appliances No.3 with 13.8% Market Share1 2024 Shipments +47.4% YoY Mainland China Smartphone 200 EV Sales Centers3 Global Tablet Shipments1 Market Shar
Slide 5: Global MAU Exceeded 700 Million
Global MAU Exceeded 700 Million 700 million 600 million 2024/12 2023/05 500 million 2021/11 400 million 2021/01 300 million 2019/10 200 million 100 million 2018/06 First 100 Cornerstone Users 2015/08 2010/08/16 Note: In December 2024, including smartphones and tablets 5
Slide 6: R&D Expenses Expected to Exceed RMB100 Billion from 2021 to 2025
R&D Expenses Expected to Exceed RMB100 Billion from 2021 to 2025 R&D Expenses 2024 R&D Accomplishments RMB Billions ~30.0 24.1 Xiaomi Dual-drum Xiaomi 19.1 HyperEngine Washing Machine HyperOS 2 16.0 13.2 9.3 Smart Assisted Top-out Airflow Xiaomi Driving Air Conditioner Hyper AI 2020 2021 2022 2023 2
Slide 7: AI Empowered All Aspects of Our Business
AI Empowered All Aspects of Our Business OS x AI Informatization x AI Product Sales & Group Human Car Home Development Services Operations Smartphones: Circle to Search, Smart Assisted Driving Smart TVs: AI Search Integrated Supply Chain New Retail HR Department Cross-Apps Calls Smart Cabin Air Cond
Slide 8: Expanding New Retail Stores
Expanding New Retail Stores Balanced Expansion Expand 500 + Offline Store Network 2025 ~20,000 Stores in 2025 Acceleration and Ecosystem Upgrade 2024 ~15,000 Stores ~ 400 Stores Storefront Integration 2023 10,000+ Stores Store Efficiency Improvement 2022 ~10,000 Stores Establish Mi Homes Overseas St
Slide 9: Smartphones
Smartphones
Slide 10: Global Smartphone Shipments Ranked Top 3 for 18 Consecutive Quarters
Global Smartphone Shipments Ranked Top 3 for 18 Consecutive Quarters 2024 Shipments YoY Shipments Vendor 2024 Market Share (Million Units) Change 13.8% Apple 225.9 18.5% -1.4% 250.0 12.8% 12.8% 200.0 Samsung 222.9 18.2% -1.1% 168.6 152.7 146.1 11.0% 150.0 Xiaomi Xiaomi 42.8 168.6 13.8% 13.8% 3.1% 15
Slide 11: Leadership Across All Major Markets Globally
Leadership Across All Major Markets Globally 2024 Smartphone Shipments Ranking and Market Share YoY Market Share Change +1.0% No.3 No.3 19.6% +1.5% +1.7% Europe No.6 13.8% No.2 14.7% Global 18.6% Mainland China Middle East +0.6% No.4 +2.0% No.3 16.1% 16.6% No.3 Southeast Latin America 11.3% No.2 Asi
Slide 12: Mainland China Smartphone Market Share Increased for 4 Consecutive Quarters
Mainland China Smartphone Market Share Increased for 4 Consecutive Quarters 2024 Shipments YoY Shipments Vendor 2024 Market Share (Million Units) Change 15.8% 14.7% 14.0 14.2% vivo 49.3 17.3% 10.8% 14.0% 15.0% 12.8% 13.0 Huawei 46.0 16.2% 37.4% 12.2 12.0 10.0% Apple 42.9 15.1% -17.3% 11.0 10.0 10.2
Slide 13: Mainland China Smartphone Ranking Gradually Improving
Mainland China Smartphone Ranking Gradually Improving Market Share No.2 No.3 No.1 No.2 No.2 Ranking 8.0 19.3% 20.0% 7.0 16.8% 15.9% 16.0% 15.3% 6.0 15.0% 5.0 5.0 4.4 4.0 3.9 10.0% 3.2 3.4 3.0 2.0 5.0% 1.0 - 0.0% Sep 2024 Oct 2024 Nov 2024 Dec 2024 Jan 2025 Mainland China Smartphone Units Sold (Milli
Slide 14: Continuously Expanding in Emerging Markets
Continuously Expanding in Emerging Markets Africa Southeast Asia Latin America Middle East Smartphone Shipments Smartphone Shipments Smartphone Shipments Smartphone Shipments (Million Units) (Million Units) (Million Units) (Million Units) 22.7 19.0 16.3 10.9 8.4 9.2 13.0 6.1 2023 2024 2023 2024 2023
Slide 15: Steadily Advancing Smartphone Premiumization Strategy
Steadily Advancing Smartphone Premiumization Strategy Premium Smartphone as % of Premium Smartphone Total Smartphone Units Sold in Mainland China Market Share in Mainland China RMB4,000-5,000 RMB5,000-6,000 29.0% 24.1% 24.3% 27.9% 23.3% 20.3% 17.7% 14.9% 17.0% 9.7% 8.4% 3.4% 2021 2022 2023 2024 Q4 Q
Slide 16: Xiaomi 15 Ultra: Pinnacle Photography
Xiaomi 15 Ultra: Pinnacle Photography Launched in Mainland China in February 2025 and Overseas Markets in March 2025 Leica 1-inch Leica UltraPure Main Camera System AI-Powered Portrait Leica 200MP Ultra LM Platform 2.0 Telephoto ACES LOG Xiaomi 15 Ultra Cinematic Video Photography Kit 16
Slide 17: IoT and Lifestyle Products
IoT and Lifestyle Products
Slide 18: Global Leading Consumer AIoT Platform
Global Leading Consumer AIoT Platform Number of Connected Devices1 Users with 5 or More Devices Millions Connected to Xiaomi’s AIoT Platform1 Millions 904.6 861.4 18.3 822.2 17.1 786.1 15.2 16.1 739.7 14.5 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Mi Home App MA
Slide 19: Smart Large Home Appliances: A Year of Robust Growth
Smart Large Home Appliances: A Year of Robust Growth Air conditioner shipments exceeded 6.8mn units in 2024, Mijia Central Air Conditioner Pro up 50%+ YoY, a record high Retail Price: up to RMB30,999 Launched in Mainland China in February 2025 Smart Air Management System for the Entire Home Level 1+
Slide 20: Tablets: Fastest Growth Among the Top 5
Tablets: Fastest Growth Among the Top 5 2024 2024 YoY Shipments Vendor Global Shipments Market Share Change (Million Units) Ranked No.3 in Mainland China Apple 56.9 38.6% 5.3% Ranked No.5 Globally Samsung 27.8 18.8% 8.2% Huawei 10.7 7.3% 29.3% Lenovo 10.4 7.1% 12.0% Xiaomi Xiaomi 9.2 6.2% 73.1% Othe
Slide 21: Wearables: Leading Position Globally
Wearables: Leading Position Globally Wearable Bands TWS Xiaomi Buds 5 Pro Launched in Mainland China in February 2025 Ranked No.2 Globally1 Ranked No.3 Globally1 Dual-amplifier Coaxial Triple Drivers for Precise Sound Ranked No.2 in Mainland China1 Ranked No.1 in Mainland China1 Independent Recordin
Slide 22: Smart EV and Other New Initiatives
Smart EV and Other New Initiatives
Slide 23: Achieved Annual Delivery Target of Over 130,000 Vehicles in 2024
Achieved Annual Delivery Target of Over 130,000 Vehicles in 2024 Target to Deliver Over 350,000 Vehicles in 2025 Feb 2025 20,000+ Monthly Delivery for 5 Consecutive Months Dec 2024 Delivered 136,854 Vehicles in 2024 Becoming the Fastest New Auto OEM to Nov 2024 Produce 100,000 Vehicles Oct 2024 Deli
Slide 24: Build Quality Received Industry Recognition
Build Quality Received Industry Recognition CIRI1 China Insurance Automotive Safety Index 2024 Top Safety Ratings Across 3 Categories Including Occupant Safety Index, Pedestrian Safety Index and Vehicle Assisted Safety Index CAERI2 IVISTA China Intelligent Vehicle Index 2024 Top Safety Ratings Acros
Slide 25: Excellent Range Performance
Excellent Range Performance Dcar 2024 Summer Test Autohome 2024 Winter Range Performance Test for EV Sedan Ranked Top One Ranked Top One Across 2 Categories Across 2 Categories Including the EV Sedan Driving Range and Including Cold Temperature Region Between -25 to -20˚C Range Achievement Rate Test
Slide 26: Expanding EV Sales Network
Expanding EV Sales Network Feb 2025 220 EV Sales Centers in 65 Cities Dec 2024 200 EV Sales Centers in 58 Cities Sep 2024 127 EV Sales Centers in 38 Cities Jun 2024 87 EV Sales Centers in 30 Cities Mar 2024 59 EV Sales Centers in 29 Cities 26
Slide 27: Continuously Evolving Autonomous Driving Capabilities
Continuously Evolving Autonomous Driving Capabilities Xiaomi Autonomous Driving Among the Industry Leading Performance 2024.5 2024.6 2024.7 2024.8 Automatic Parking City NOA Across 10 Traffic Light Real-Time Launched the Pioneer Assist Feature Cities in Mainland Alerts Version1 of City NOA Leveraged
Slide 28: Xiaomi SU7 Ultra: Launched in February 2025
Xiaomi SU7 Ultra: Launched in February 2025 RMB 529,900 Officially Delivered in March 2025 1.98s 1,548ps >359km/h 0-100 km/h Max Top Speed Acceleration Horsepower Three Self-Developed High-Performance Track-Specific Ultra Battery Pack Cooling System Motors Nü rburgring-Tuned Track-Specific Braking S
Slide 29: Xiaomi SU7 Ultra: Initial Sales Far Exceeded Expectations
Xiaomi SU7 Ultra: Initial Sales Far Exceeded Expectations Pre-orders reached Locked-in Orders reached 19,000 units in 3 days 10,000 units in 3 days 1 As of 5pm on March 2, 2025 29
Slide 30: Xiaomi YU7 Expected to Officially Launch in Mid 2025
Xiaomi YU7 Expected to Officially Launch in Mid 2025 30
Slide 31: ESG
ESG
Slide 32: Global Recognitions for ESG Efforts in 2024
Global Recognitions for ESG Efforts in 2024 Exemplary ESG Gold Medal from Enterprises EcoVadis Achieved a Historical Best Score of 80 Points in 2024 Ranked among Top 2% Globally Exemplary ESG Enterprises in China The "2nd ESG Model Ceremony" hosted by China Media Group Secured the Gold Medal for 2 C
Slide 33: Giving Back to Our Society
Giving Back to Our Society Technology Innovation Xiaomi Innovation Joint Fund Cumulative Donation of over RMB160 million Talent Development Xiaomi Scholarships Program Covered 60 Colleges and Universities and Funded a Total 12,000 Students Xiaomi Young Talents Program Covered 30 Colleges and Univers
Slide 34: Financial Highlights
Financial Highlights
Slide 35: 2024 Total Revenue Reached a Record High
2024 Total Revenue Reached a Record High Over 100 Billion in Quarterly Revenue for the First Time Revenue RMB Billions 365.9 32.8 109.0 34.1 271.0 16.7 92.5 30.1 104.1 88.9 6.4 9.7 80.1 92.3 191.8 82.5 82.8 157.5 75.5 2023 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Smartphone x AIoT1 Smart EV and other ne
Slide 36: 2024 Revenue by Segment
2024 Revenue by Segment Smartphones Revenue IoT and Lifestyle Products Revenue RMB Billions RMB Billions Smartphones revenue reached 104.1 IoT and lifestyle products revenue 191.8 167.2 RMB191.8 billion, up 21.8% YoY 79.8 reached RMB104.1 billion, a 157.5 80.1 record high, up 30.0% YoY Smartphone sh
Slide 37: Both AIoT and Internet Services Gross Profit Margins Reached Record Highs
Both AIoT and Internet Services Gross Profit Margins Reached Record Highs Overall Smartphone x AIoT1 Smart EV and Other New Initiatives % % % 21.2% 20.9% 21.2% 21.2% 18.5% 17.0% 17.0% 2022 2023 2024 2022 2023 2024 2022 2023 2024 Smartphones IoT and Lifestyle Products Internet Services % % % 20.3% 76
Slide 38: Core Business Operating Expenses Ratio Continued to Decline
Core Business Operating Expenses Ratio Continued to Decline Operating Expenses RMB Billions 40.0 18.0% 90.0 18.0% 35.0 16.0% 80.0 16.0% 13.8% 13.3% YoY 2 -0.7ppt -1.1ppt -0.4ppt -0.7ppt 14.0% 70.0 12.6% 14.0% 30.0 12.0% 60.0 12.0% 25.0 50.0 10.0% 10.0% 13.2 20.0 40.0 3.7 8.0% 8.0% 7.5 15.0 4.4 6.0%
Slide 39: Adjusted Net Profit Increased 41.3% YoY in 2024
Adjusted Net Profit Increased 41.3% YoY in 2024 Adjusted Net Profit1 20.0 14.0% 60.0 RMB Billions 12.0% 18.0 10.0% 11.6% 12.0% 50.0 9.6% 16.0 10.0% 7.4% 9.6% 9.8% 14.0 9.3% 10.0% 40.0 7.1% 8.0% 8.6% 12.0 7.6% 6.9% 8.0% 6.0% 6.8% 30.0 6.2 10.0 4.2% 0.7 6.0% 4.0% 8.0 6.7 2.3 20.0 3.0% 1.8 1.5 6.0 4.0%
Slide 40: IR@xiaomi.com https://ir.mi.com/
IR@xiaomi.com https://ir.mi.com/