Xiaomi's shares gained 7.7% following results that highlighted strength in AI-related revenue growth and solid EV delivery momentum, offsetting headwinds from high memory costs and softer smartphone shipments.
- Group revenue reached RMB 108.9 billion in Q2 2026, with adjusted net profit at RMB 6.2 billion.
- Smartphone shipment declined but Xiaomi maintained a top 3 global market position for the 24th consecutive quarter, supported by record-high average selling prices amid elevated memory costs; smartphone gross margin was 8.5% in Q2.
- IoT revenue fell year-on-year due to a high subsidy base in China but saw significant overseas growth, expanding retail and product footprint internationally.
- Xiaomi EV deliveries rose for the sixth consecutive quarter, with 104,199 vehicles delivered; the SU7 series ranked first among pure electric sedans above RMB 200,000 in Mainland China.
- AI foundational model MiMo-V2.5 saw a sixfold increase in call volume, contributing new API and token-based revenues, underlining Xiaomi’s growing footprint in AI services and ecosystem integration.
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