Xiaomi Publishes Its Annual Report of 2018
The Hong Kong-listed company, Xiaomi, published its annual report of 2018.
The Hong Kong-listed company, Xiaomi, published its annual report of 2018. In 2018 Q4, the performance of Xiaomi's mobile phone business and Internet business were not as good as 2018 Q3.
In 2018 Q4, the revenue of Xiaomi was CNY 44.4 billion, which was worse than the market expectation, CNY 46.2 billion. The net profit for Q4 was CNY 3.2 billion. According to Sunrise big data, Xiaomi’s shipment reached 119 million in 2018, a year that the smartphone market was in a hard time. In Q4 2018, the mobile phone business's revenue reached CNY 25.7 billion, with 7% YOY growth and accounted for 56.5% of the total revenue. For 2018, the total net profit of Xiaomi Group reached CNY 13.6 billion. The adjusted net profit was CNY 8.6 billion while the market expectation was CNY 8.3 billion.
On the other hand, Xiaomi's Internet business increased. In 2018 Q4, Xiaomi Internet business's revenue reached CNY 4 billion and accounts for 9.1% of the total revenue. Xiaomi also shows its excellent transcript in the IoT industry. In 2018 Q4, Xiaomi's IoT business generated CNY 14.9 billion revenue, growing 75.4% (YOY) and accounted for 33.6% of the group's total revenue.
The sales and promotion fee for Xiaomi keep increasing. In 2018 Q4, the cost is CNY 2.3 billion, which increased 6.4% from CNY 2.2 billion, the data in 2018 Q3.