Slide 1: Xiaomi Corporation Q3 2023 Results Announcement
Xiaomi Corporation Q3 2023 Results Announcement
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: Q3 2023 Overall Financial Highlights
Q3 2023 Overall Financial Highlights RMB % Gross Profit Revenue 70.9 billion Margin 22.7% 0.6% YoY 6.1ppt YoY RMB Adjusted RMB Net Profit1 6.0 billion Cash 182.9% YoY Resources3 127.6 billion Including expenses related to smart 35.4% YoY EV and other new initiatives2 RMB1.7 billion 1 Defined as prof
Slide 4: Q3 2023 Overall Business Highlights
Q3 2023 Overall Business Highlights #3 698.9 million Global AIoT Connected Devices2 Market Share Ranking1 25.2% YoY AIoT 13.7 million 14.1% Users with 5 or More Global Market Share1 Connected Devices2 26.0% YoY Smartphones 55 markets Ranked Top 31 623.1 million Global MIUI MAU3 Internet 10.5% YoY 65
Slide 5: Strategy Upgrade
Strategy Upgrade
Slide 6: Xiaomi's Goal for the Next Decade and Technology Philosophy
Xiaomi’s Goal for the Next Decade and Technology Philosophy Goal for the Next Decade 2020-2030 Committed to sustainable investments in foundational core technologies, dedicated to becoming a leader in the evolving realm of global cutting-edge technologies Xiaomi Technology Philosophy Continuously in
Slide 7: Strategy Upgrade: Human x Car x Home
Strategy Upgrade: Human x Car x Home Human x Car x Home All your needs in one smart ecosystem 7
Slide 8: Xiaomi HyperOS: 13 Years of Exploration
Xiaomi HyperOS: 13 Years of Exploration Mobile OS Embedded OS Self-Developed OS In-Car OS 2010 Birth of MIUI Unified IoT device 2014 connection protocol Cross-platform quick app 2016 framework activated 2017 Introduction of Xiaomi Vela Pre-development of 2019 Xiaomi Mina OS Development of the 2021 o
Slide 9: Xiaomi HyperOS: a Human-centric Operating System
Xiaomi HyperOS: a Human-centric Operating System Designed for Human x Car x Home Ecosystem Comprehensive Refactoring: Optimize performance for individual device Cross-Device Intelligent Connectivity: Create seamless cross end-device connections Proactive Intelligence: Serve as an intelligence hub de
Slide 10: IoT Open Platform
IoT Open Platform Smart Device Partners Home Industry Partners Individual Developers Open Access to Extend Connectivity O p e n - S our c e Full Access Over 200 Categories Standards the Vela System 10
Slide 11: Business and Financial Highlights
Business and Financial Highlights
Slide 12: Global Smartphone Shipments Market Share Increased for 3 Consecutive Quarters
Global Smartphone Shipments Market Share Increased for 3 Consecutive Quarters Q3 2023 Shipments YoY Shipments Global Smartphone Vendor Q3 2023 Market Share (Million Units) Changes Shipments and Market Share Samsung 58.6 19.9% -8.5% 60.0 14.1% 12.9% 14.0% Apple 50.0 17.0% -5.5% 50.0 11.3% 41.5 11.2%
Slide 13: Market Share Increased in All Major Markets Globally in Q3 2023
Market Share Increased in All Major Markets Globally in Q3 2023 Q3 2023 Smartphone Shipments Ranking and Market Share +2.1% +1.2% No.2 No.3 23.3% +0.6% +0.2% Europe No.5 14.1% No.3 13.6% Global 17.7% Mainland China Middle East +1.8% No.3 +0.7% No.3 14.9% 18.3% No.3 Southeast Latin America 10.7% No.2
Slide 14: Xiaomi 14 Series: Our New Flagship
Xiaomi 14 Series: Our New Flagship with Enhanced Technologies and Xiaomi HyperOS Launched in Mainland China in October 2023 Industry-leading ƒ/1.42 - Leica Summilux ƒ/4.0 Variable Aperture Optical Lenses Capability Xiaomi HyperOS World’s First Unleashing the Full Snapdragon® 8 Gen 3 Performance Pote
Slide 15: Steadfast Execution of Smartphone Premiumization Strategy
Steadfast Execution of Smartphone Premiumization Strategy Increasing Positive Ratings from Our Users1 Xiaomi 14 Series Xiaomi MIX Fold 3 Xiaomi 13 Ultra Xiaomi 13 Series Xiaomi MIX Fold 2 Xiaomi 12S Ultra 99%+ 99%+ 99%+ 99%+ 99%+ 98%+ Smartphone Market Share2 RMB4,000-6,000 Smartphone by Week in Mai
Slide 16: Record Results During Double 11 Shopping Festival
Record Results During Double 11 Shopping Festival Cumulative Paid GMV Over Xiaomi 14 Offline Retail Store GMV RMB22.4 billion1 No.1 Domestic Smartphone Model up 77% YoY Registered a Shopping Across 4 Platforms2 Festival Record High 1 Across all channels and platforms, From 20:00:00 October 23, 2023
Slide 17: R&D Expenses Ramped up to RMB5.0 billion in Q3 2023
R&D Expenses Ramped up to RMB5.0 billion in Q3 2023 R&D Expenses RMB Billions ~20 Q3 2023 2022 R&D Expenses R&D Expenses as % of Nationwide R&D Expenses1 16.0 Up 22% YoY 0.5%+ 13.6 13.2 9.3 7.5 Number of 5.8 R&D Employees2 Number of Granted Patents Globally2 3.2 53%+ 35,000+ of Total Employees 2017
Slide 18: Fully Embrace AI
Fully Embrace AI Enhance User Experience Improve Operational Efficiency Sales Forecasts AI Real-time AI Input Translation Method Intelligent Decision Support AI Portrait AI Smart painting Intelligent Customer Service AI Assistant AI Image Text-to-Image Extender & Generation AI Image Search Note: The
Slide 19: Q3 2023 Revenue Achieved YoY and QoQ Growth
Q3 2023 Revenue Achieved YoY and QoQ Growth Revenue RMB Billions 70.5 70.9 67.4 Total revenue RMB70.9 billion, up 5.3% 7.1 7.8 7.4 QoQ and achieved YoY growth 19.1 20.7 Smartphones revenue grew 13.8% QoQ 22.3 IoT and lifestyle products revenue grew 8.5% YoY 42.5 41.6 36.6 Internet services revenue r
Slide 20: Gross Profit Margins Reached Record Highs
Gross Profit Margins Reached Record Highs Smartphone Gross Profit Margin IoT Gross Profit Margin Overall Gross Profit Margin % % % 22.7% 16.6% 17.8% 17.6% 21.0% 15.7% 19.5% 13.3% 14.3% 13.5% 17.2% 11.2% 16.6% 8.9% 8.2% Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q
Slide 21: Maintained Discipline in Managing Operating Expenses
Maintained Discipline in Managing Operating Expenses Operating Expenses RMB Billions 11.9 11.1 0.2 10.2 1.2 10.2 0.2 0.2 9.4 0.1 1.7 0.8 0.2 1.4 1.1 10.4 9.2 8.6 9.1 8.0 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Operating expenses (excluding expenses related to smart EV and other new initiatives) Expe
Slide 22: Adjusted Net Profit Increased 182.9% YoY
Adjusted Net Profit Increased 182.9% YoY Adjusted Net Profit1 RMB Billions 14.0 8.4% 9.0% 7.6% 12.0 7.0% 10.0 5.4% 8.0 5.0% 1.7 6.0 3.0% 1.4 2.2% 3.0% 4.0 1.1 6.0 1.0% 0.8 5.1 2.0 1.2 3.2 2.1 1.5 0.0 -1.0% Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Adjusted Net Profit1 Expenses related to smart EV and
Slide 23: Lowest Inventory Levels in 11 Quarters
Lowest Inventory Levels in 11 Quarters Leveraging Our Comprehensive Management System Inventory RMB Billions 53.0 50.4 9.0 8.1 42.6 38.5 36.8 7.3 7.7 7.4 27.3 28.7 22.0 22.7 19.3 19.6 17.1 16.9 11.4 12.8 (2.9) (3.5) (3.7) (3.3) (2.7) Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Raw materials Finished goo
Slide 24: Record High Cash Position
Record High Cash Position Cash Resources1 RMB Billions 127.6 113.2 94.6 Our cash resources were over RMB127.6 billion Q1 2023 Q2 2023 Q3 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 fa
Slide 25: ESG
ESG
Slide 26: Fully Integrated ESG Management into Our Business Operations
Fully Integrated ESG Management into Our Business Operations Carbon Neutrality ESG Ratings World’s Best Employer By 2040 Score Improved from both Recognized on the MSCI & Sustainalytics 2023 WORLD’S BEST Achieve carbon neutrality in our own operations of our existing EMPLOYERS businesses1 List by Fo
Slide 27: Giving back to Our Society
Giving back to Our Society Poverty and Talent Technology Disaster Relief Development Innovation Cumulative Donation of Xiaomi Scholarships Program Xiaomi Innovation Joint Fund RMB156 million1 Covered 60 Colleges and Cumulative Donation of Universities1 RMB108 million and 74 Scientific Projects1 27 1
Slide 28: Smartphones
Smartphones
Slide 29: Smartphone Shipments Exceeded 41 million Units in Q3 2023
Smartphone Shipments Exceeded 41 million Units in Q3 2023 Achieved Both YoY and QoQ Growth Smartphones Revenue RMB Billions 42.5 41.6 In Q3 2023, smartphones revenue was 36.6 RMB41.6 billion Smartphone shipments were 41.8 million units, rose 27% QoQ Gross profit margin reached 16.6%, registered a re
Slide 30: Mainland China Smartphone Shipments Ranked No.5 in Q3 2023
Mainland China Smartphone Shipments Ranked No.5 in Q3 2023 Q3 2023 Shipments Vendor Q3 2023 Market Share YoY Shipments Changes (Million Units) HONOR 11.8 17.7% -1.0% OPPO 10.9 16.4% -9.7% Apple 10.6 15.9% -5.8% vivo 10.4 15.6% -26.0% Xiaomi 9.1 13.6% 0.4% Others 13.9 20.8% 21.3% Total 66.7 100.0% -4
Slide 31: Redmi Note 13 Series: Flagship Experience for Mass Market
Redmi Note 13 Series: Flagship Experience for Mass Market Launched in Mainland China in September 2023 Camera Display Charging 200MP Samsung 1.5K FHD+AMOLED 5,000mAh ISOCELL HP3 Sensor 1,800nit Peak Battery 120W Brightness Fast-charging Xiaomi Imaging Corning Gorilla Redmi x AAPE Mastermind Glass Vi
Slide 32: Reinforce Global Presence
Reinforce Global Presence Latin America Africa Middle East Smartphone shipments Q3 2023 Smartphone shipments Q3 2023 Smartphone shipments Q3 2023 43% 100% 20% Q3 2022 Q3 2023 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Source: Canalys, by shipments 32
Slide 33: AIoT
AIoT
Slide 34: 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 84.0 82.9 698.9 13.7 13.0 78.1 12.3 75.8 654.5 11.6 10.9 72.4 618.0 589.4 558.3 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q3 2
Slide 35: Resilient IoT and Lifestyle Products Revenue
Resilient IoT and Lifestyle Products Revenue IoT and Lifestyle Products Revenue RMB Billions 22.3 In Q3 2023, IoT and lifestyle products 20.7 revenue reached RMB20.7 billion, up 19.1 8.5% YoY Gross profit margin reached 17.8%, registered a record high Q3 2022 Q2 2023 Q3 2023 35
Slide 36: Smart TV: No.1 TV Shipments in Mainland China in Q3 2023
Smart TV: No.1 TV Shipments in Mainland China in Q3 2023 No.1 TV Shipments in Mainland China in Q3 20231 Global Smart TV Shipments Reached 2.7 million in Q3 2023 Ranked Top 5 Globally1 1 According to AVC, by shipments in Q3 2023 36
Slide 37: Smart Large Home Appliances: Momentum Continued
Smart Large Home Appliances: Momentum Continued Air Washing Refrigerators Conditioners Machines The number of air conditioner Refrigerator shipments reached a record Washing machine shipments exceeded shipments by the end of Q3 2023 high of over 670k units in Q3 2023, up 310k units in Q3 2023, up 28
Slide 38: Tablets: Ranked among Top 5 Globally
Tablets: Ranked among Top 5 Globally Redmi Pad SE Launched in Overseas in August 2023 Launched in Mainland China in September 2023 Global Shipments1 in Q3 2023 up 120% YoY Ranked Top 5 Globally1 in Q3 2023 for the First Time Ranked Top 3 in Mainland China1 in Q3 2023 1 According to Canalys, by shipm
Slide 39: Wearables: Leading Position in Mainland China
Wearables: Leading Position in Mainland China Leading Brand New Product Launch Xiaomi Smart Watch S3 TWS Launched in Mainland China in October 2023 Mainland China Shipments1 A 1.43’’ AMOLED display featured a smooth 60Hz refresh rate Innovative interchangeable bezel design No.2 Leveraging L1+L5 dual
Slide 40: Internet Services
Internet Services
Slide 41: Global MIUI MAU Reached 623 million and Mainland China 152 million
Global MIUI MAU Reached 623 million and Mainland China MIUI MAU Reached 152 million in Q3 2023 YoY % Global MIUI MAU 10.5% Millions 623.1 594.8 606.0 563.9 582.1 11.2 17.1 18.2 12.7 Global MIUI MAU1 reached 623.1 million, YoY growth of 59.1 million Mainland China MIUI MAU1 reached 151.9 million, YoY
Slide 42: Internet Services Revenue Achieved Another Record High
Internet Services Revenue Achieved Another Record High Internet Services Revenue RMB Billions 7.8 YoY % 7.4 In Q3 2023, internet services revenue 7.1 1.3 -7.2% reached RMB7.8 billion, a record high 1.3 1.4 1.1 1.0 5.6% 1.0 Advertising revenue reached a record high, up 15.7% YoY 5.4 15.7% 4.7 5.1 Gam
Slide 43: Overseas Internet Services Revenue Reached a Record High
Overseas Internet Services Revenue Reached a Record High Overseas Internet Services Revenue as % of Total Internet Services Revenue In Q3 2023, overseas internet 30.0% services revenue reached a record high of RMB2.3 billion, up 35.8% 26.8% 26.1% 25.7% YoY, accounting for 30.0% of total 24.2% intern
Slide 44: IR@xiaomi.com https://ir.mi.com/
IR@xiaomi.com https://ir.mi.com/