On May 26, Xiaomi Group announced the first quarter of 2021 financial report.
The financial report shows that the total revenue of Xiaomi Group in the first quarter of 2021 reached 76.9 billion yuan, a year-on-year increase of 54.7%. Among them, overseas revenue reached 37.4 billion yuan, a year-on-year increase of 50.6%; adjusted net profit was 6.1 billion yuan, a year-on-year increase of 163.8%.
In terms of mobile phones, Xiaomi Group’s smartphone shipments reached 49.4 million units in the first quarter, a year-on-year increase of 69.1%. Revenue from the smartphone business reached 51.5 billion yuan, a year-on-year increase of 69.8%. Among them, the shipment of high-end smartphones exceeded 4 million units, and Xiaomi's share in the high-end smartphone market increased to 16.1%.
According to Canalys statistics, its global smartphone shipments ranked third this quarter, with a market share of 14.1%.
Based on the huge number of users, the number of domestic MIUI monthly active users reached 119 million, a month-on-month increase of 6.9%. Globally, the number of monthly active users of MIUI exceeded 400 million, a year-on-year increase of 28.6%.
In addition, the smart home business is also the big head of Xiaomi.
As of March 31, 2021, the number of IoT devices connected to the Xiaomi AIoT platform has reached 350 million, with a total revenue of 18.2 billion yuan, a year-on-year increase of 40.5%. Among them, the shipment of smart TVs ranks first in the domestic market and the world's top five.
Thanks to the increase in the number of IoT users, the number of monthly active users of Xiao Ai has also reached 93 million.
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Xiaomi has also invested heavily in marketing this year. Its sales and promotion expenses in the first quarter reached 4.2 billion yuan, an increase of 58.6% compared to the first quarter of 2020. In this regard, Xiaomi's explanation is "due to the increase in packaging and transportation expenses and sales and promotion staff salaries."
In terms of Internet services, advertising revenue reached 3.9 billion yuan, a year-on-year increase of 46.3%. Game revenue was 1.1 billion yuan, an increase of 24.8% from the previous quarter, and other value-added services revenue was 1.6 billion yuan, a year-on-year decrease of 8.6%.
It is worth mentioning that Xiaomi's offline strategy this year is very radical. The financial report shows that Xiaomi has added 2,300 offline retail stores in just 4 months, and the total number of retail stores has exceeded 5,500.
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For Xiaomi, R&D has also become more important. Xiaomi’s R&D expenditure in the first quarter reached 3 billion yuan, an increase of more than 60% from the 1.8 billion yuan in the first quarter of 2020.
In addition, Xiaomi will take the automobile as the next growth point.
In the financial report, Xiaomi once again emphasized Xiaomi's smart electric vehicle business, reiterating that the initial investment will reach 10 billion yuan, and the investment in the next 10 years will be 10 billion US dollars.
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