Xiaomi Corporation Class B · HKEX:1810
Xiaomi Corporation Class B — Q2 2025 Earnings Presentation
37 slides from Xiaomi Corporation Class B's earnings presentation, 2025
Slide 1: NKEA
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Slide 2: (a) 1933 ” 144A (b)
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Slide 3: Financial highlights Q2 2025
2025 1 1,160 ( +30.5%) 22.5% ( +1.8 ) 108 ( +75.4%) x AIoT2 AI 947 ( +14.8%) 213 ( +233.9%) 21.6% ( +0.5 ) 26.4% ( +11.1 ) 3 3 1 (i) (ii) (iii) (iv) (v) 2 IoT 3 3 /( )
Slide 4: BrandZ ranking
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Slide 5: Q2 2025 business highlights
2025 IoT 2025 81,302 14.7%1 66.2% 197.7% 1.0 42.3% 335 92 3 1 15.3%1 100 5.5 27.6%2 2025 6 AI 2025 6 YU7 1 18 24 4 1 Canalys ( Omdia) 2025 2 2025 3 2025 6 30 5 4 2025 6 27
Slide 6: AIoT and internet user metrics
“ ” AIoT 1 731.2 2 989.1 943.7 12.4 904.6 16.5 861.4 822.2 675.8 16.6 9.9 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 1 5 AIoT 2 184.8 3.7 20.5 8.2 18.3 19.3 4.9 16.1 17.1 164.4 3.5 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 MA
Slide 7: AI and MiMo large model
2025 78 41.2% Xiaomi Pad 7S Pro YU7 O1 V6s Plus ~300 241 191 160 145 132 MiMo AI 93 MiMo-7B 2 AI ICCV1 2025 MiMo-VL 10 ACL2 2025 2020 2021 2022 2023 2024 2025 1 2 7
Slide 8: AIRE F* a BEF FR
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Slide 9: R&D investment trend
1 1,700+ 17,000+ 500 2 ~15,000 ~10,000 ~10,000 10,000+ ~150 2 3,200+ ~200 2020 2021 2022 2023 2024 Q2 2025 1 2025 2 2025 6 30 9
Slide 10: Ae HL
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Slide 11: Global smartphone shipments and market share Q2 2025
20 8 Q2 2025 Q2 2025 ( ) 14.7% 50.0 14.6% 13.8% 14.1% 57.5 19.9% 7.4% 48.0 13.0% 46.0 44.0 42.3 42.8 42.7 42.4 44.8 15.5% -1.8% 41.8 42.0 11.0% 40.0 Xiaomi 42.4 14.7% 0.2% 38.0 36.0 34.0 vivo 26.4 9.1% 2.0% 32.0 30.0 6.0% 24.6 8.5% -3.3% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 93.3 32.3% -3.0% +27.2
Slide 12: Smartphone rankings by region
Q2 2025 +3.4% +0.0% No.2 No.3 23.4% +1.0% No.4 14.7% No.2 15.3% 18.7% +1.0% No.1 +1.6% No.2 18.9% 19.6% No.3 14.4% No.4 12.8% +2.7% 60 69 Canalys( Omdia) 12
Slide 13: Smartphone growth by market
No.3 No.2 No.1 No.2 32.1% 10.9% 7.9% 7.8% 7.5% 2.3% -1.4% -5.4% Canalys ( Omdia) 2025 13
Slide 14: Premium and market share trends
2025 No.2 No.2 No.2 No.2 No.1 20.0 18.0 17.1% 17.1% 16.8% 16.0 15.9% 16.0% 15.0% 14.0 12.6 12.0 11.6 11.5 10.6 10.8 10.0 8.0 10.0% 6.0 4.0 2.0 - 5.0% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 14
Slide 15: Smartphone high-end share
5.5ppt 4.5ppt 6.5ppt 27.6% 23.3% 24.7% 22.1% 20.3% 20.1% 17.0% 17.7% 15.4% 8.9% 2021 2022 2023 2024 Q2 Q2 4,000-5,000 5,000-6,000 2024 2025 Q2 2024 Q2 2025 3,000 15
Slide 16: IoT
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Slide 17: Large appliance growth
: , 66.2% 2025 2025 2025 540 79 60 60%+ 25%+ 45%+ 17
Slide 18: Wearables market ranking
: Q2 2025 Q2 2025 No.5 No.3 14.1 36.1% 2.4% 6.7 17.1% -1.8% 3.2 8.3% 29.2% 3.1 7.9% 24.7% 3.1 7.8% 42.3% 8.9 22.8% 10.6% 39.0 100.0% 9.3% 2025 6 O1 Canalys( Omdia) 2025 18
Slide 19: TWS earbuds and AI products
TWS 40g AI 10 8.6 : 1,999 2025 6 Canalys( Omdia) 2025 19
Slide 20: Smart EV and AI initiatives
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Slide 21: Vehicle deliveries by quarter
81,302 75,869 69,697 39,790 27,307 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 300,000 1 2025 7 30,000 1 2025 7 10 21
Slide 22: Xiaomi YU7 SUV
YU7: SUV 25.35 18 1 27.99 240,000 32.99 800V 1 2025 6 27 22
Slide 23: YU7 features and performance
YU7 756km SUV 93.9% SUV NVH1 652km SUV SUV SUV 784km SUV 0-400 SUV SUV 24 2 3,944km YU7 NVH YU7 Max 1 23 2 24 • 3,944km YU7 Max XMA6500LBEVA1
Slide 24: SU7 Ultra Nurburgring record
SU7 Ultra : ’’’ 6 22 091 2024 10 SU7 Ultra 6’46’’874 2025 4 SU7 Ultra 6’22’’091 2025 6 24
Slide 25: Smart EV quarterly trends
92 335 65 58 235 200 38 30 127 29 87 59 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 25
Slide 26: Xiaomi HAD driving assistance, 1,000 Clips
1,000 Clips 1,000 Clips YU7 SU7 17 1 Xiaomi SU7 Pro, Xiaomi SU7 Max Xiaomi SU7 Ultra 26
Slide 27: Slide 27
Slide 28: Revenue by quarter
5 30% 1,160 1,090 1,113 213 167 186 925 889 64 97 923 927 947 825 828 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 x AIoT1 AI % +32.0% +30.5% +48.8% +47.4% +30.5% x AIoT1 % +22.5% +16.8% +26.1% +22.8% +14.8% 1 IoT 28
Slide 29: IoT and AI segment revenue
2025 IoT 42.4 IoT 387 465 455 0.6% 387 44.7% ASP 1,073 268 2.7% 66.2% 455 2.1% Q2 2024 Q2 2025 Q2 2024 Q2 2025 AI 91 AI 10.1% 213 233.9% 91 213 68 83 14.6% 206 230.3% 30 12.6% 64 6 32.9% 411.1% Q2 2024 Q2 2025 Q2 2024 Q2 2025 29
Slide 30: Gross margin by segment
x AIoT1 AI % % % 22.5% 26.4% 20.7% 21.1% 21.6% 15.4% Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 IoT % % % 22.5% 78.3% 12.1% 75.4% 11.5% 19.7% Q2 2024 Q2 2025 Q2 2024 Q2 2025 Q2 2024 Q2 2025 1 IoT 30
Slide 31: Expense ratios and R&D
1 3 -1.1ppt -0.4ppt -0.7ppt -1.4ppt 30.0 +0.2ppt 18.0% 16.0% 25.0 13.2% 14.0% 12.4% 11.7% 11.4% 11.9% 20.0 12.0% 10.0% 15.0 44 59 8.0% 48 29 33 10.0 6.0% 4.0% 122 106 113 5.0 96 103 2.0% - 0.0% Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 2 xAIoT 2 xAIoT 2 xAIoT AI 1 2 IoT 31 3 xAIoT
Slide 32: AI and innovative business operating results
AI 1 - -3 -5 -0.5 -10 -17 -1.0 -20 -1.5 -2.0 -2.5 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 AI 12 1 32 2 2024 2024 2024 2025 2025 AI 2 2 3 3 4
Slide 33: Adjusted net profit
1 % +20.1% +4.4% +69.4% +64.5% +75.4% 18.0 9.6% 16.0 9.3% 14.0 7.6% 12.0 6.9% 6.8% 107 108 10.0 83 8.0 62 63 6.0 4.0 2.0 - Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 1 1 (i) (ii) (iii) (iv) (v) 33
Slide 34: ESG
ESG
Slide 35: ESG
ESG ESG 2025 720 (APEAL) 270% (IQS) 1 2025 690 4,160 SU7 J.D. Power 1 2025 2025 35
Slide 36: Notes
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Slide 37: [email protected]
[email protected] https://ir.mi.com/