Η xiaomi corporation announced the unaudited, consolidated financial results for the quarter and semester respectively, which ended on 30 June, 2021.
ΟThe company's business performance in all areas is recorded as the highest historically, creating long-term value. THE Xiaomi is in second place in the global smartphone market as it constantly strives for technological innovation and potential development.
Η xiaomi corporation announced the unaudited, consolidated financial results for the quarter and semester respectively, which ended on 30 June, 2021.
In the second quarter of 2021, Xiaomi's total revenue amounted to RMB 87,8 billion showing an annual increase 64% while the adjusted net profit for the period amounted to RMB 6,3 billion, ie annual increase 87,4%. Both total revenue and adjusted net profit achieved historically high quarterly results, thus proving the excellent structure of the business model and operation of the company.
Major financial results for the second quarter of 2021:
Δα Total revenue RMB 87,789.0 million, up 64% year-on-year
● Gross profit, approx. RMB 15,148.1 million, up 96,7% year-on-year
● Non-IFRS adjusted earnings to RMB 6,321.5 million, up 87,4% year-on-year
1H 2021 financial results:
Δα Total revenue RMB 164,671.2 million, up 59,5% year-on-year
● Gross profit, approx. RMB 29,309.4 million, up 92,1% year-on-year
● Non-IFRS adjusted earnings on RMB 12,390.8 million increase by 118,4% year-on-year
Η xiaomi corporation stated,
We will also remain committed to the strategy. "Smartphone x AIoT”, And we will work hard to promote new innovations in smart, state-of-the-art technologies in all product categories. We will continue to enhance the connectivity between smartphones and IoT products to provide a unified user experience across our product range, offering a better life for everyone in the world.
Quarterly Results Review
In the global smartphone distribution market, Xiaomi rose to 2nd place, stabilizing the position of the Xiaomi brand in the premium smartphone market with its innovative and high quality products.
As Xiaomi remains steadfast in its commitment to cutting-edge technology, recruiting and highlighting talent and upgrading its sales channels, the smartphone market continued to grow significantly in the second quarter of 2021, accompanied by a record smartphone revenue and distributions. These revenues reached RMB 59,1 billion, recording an increase of 86,8% compared to the corresponding period last year. The Group's global smartphone distributions reached 52,9 million units, showing an annual increase of 86,8%. According to Canalys, this quarter, Xiaomi's worldwide distributions ranked it No. 2 for the first time, with a market share of 16,7%.
At the same time, the Group's smartphone distributions in the Chinese market increased rapidly. According to Canalys, in the second quarter of 2021, Xiaomi's smartphone market share in China increased by 16,8% compared to the second quarter of 2020 (10,3%), ranking the company in 3rd place, with an annual increase of 35,1 %, which is the highest growth rate among the major market players.
The Group continues to implement its dual-brand strategy. Under the Xiaomi brand, it remains committed to enriching its premium smartphone segment. Following the popularity of the Xiaomi 11 Pro, Xiaomi 11 Ultra and Xiaomi MIX FOLD in the first quarter of 2021, on August 10 the group unveiled the Xiaomi MIX 4, its first camera device installed under a full-screen display.
According to third party data, in the second quarter of 2021, Xiaomi smartphone market share in China, with prices ranging between RMB 3,000 and RMB 4,000, RMB 4,000 and RMB 5,000, recorded growth compared to last year. In the first half of 2021, global smartphone shipments with retail prices above RMB 3,000 in China and respectively 300 euros in foreign markets reached over 12 million units, exceeding the corresponding figure of 2020 which reached 10 million units.
The Redmi brand continued to provide competitive products. At April 30 2021, the total shipments worldwide for the series Redmi Note Series exceeded 200 million units, reflecting the massive increase in acceptance for the Redmi brand and high quality Redmi smartphones. At May 26, 2021, we presented the Redmi Note 10 series in China, where there was an enthusiastic response.
In the second quarter of 2021, the IoT and lifestyle products continued to grow steadily, with corresponding revenues increasing 35,9% on an annual basis, at RMB 20,7 billion.
In the second quarter of 2021, global missions Smart TV exceeded 2,5 million devices, maintaining the Group's leading position in the market. According to AllView Cloud ( "CVAXiaomi ranks 1st in the Chinese market in terms of TV shipments, and remains among the top 5 in the world.
The product category IoT and lifestyle of the Group also maintained its rapid growth in markets outside Asia. Revenue from IoT and lifestyle products in these markets increased by 93,8% year on year for this quarter. Electric scooters, smart TVs, smart bands and smart watches have maintained their wide popularity in all markets except China.
Until June 30 2021, the number of connected IoT devices (excluding smartphones and laptops) on the Group's AIoT platform reached 374,5 million pieces, recording an increase 34% on an annual basis. The number of users with five or more devices connected to the AIoT platform (excluding smartphones and laptops) reached 7,4 million, which indicates an increase of 44,5% on an annual basis. In June 2021, the monthly users of AI Assistant exceeded the target of 100 million for the first time, reaching 102 million, while the corresponding number in the Mi Home App increased to 56.5 million, recording a growth of 38.6% compared to last year.
Revenue from internet services reached record highs, with the number of users in significant markets continuing to grow
Xiaomi's online services have continued to grow rapidly. In the second quarter of 2021, revenue from Internet services is estimated at RMB 7 billion, a record number. This is an increase of 19,1% compared to last year.
The Group's global user base continued to expand rapidly, breaking all records in the second quarter of 2021. In June 2021, MIUI's MAU increased by 32,1% - compared to last year - to 453,8 million, with MAU in mainland China to reach 124 million, an increase of 13% (compared to the previous year) and a net profit of 5,3 million users since March 2021. In June 2021, the number of TV subscribers increased to 4,7 , 17,1 million, an increase of 4,5% compared to last year. Advertising revenue also hit a record, with RMB 46,2 billion, up XNUMX% from last year.
During the second quarter of 2021, revenues from global internet services reached RMB 1,1 billion, showing an increase of 96,8% compared to last year. In this quarter, the revenues from the global internet services corresponded to 15,6% of the total turnover from the revenues of the internet services. Revenues from internet services abroad and their contribution to the total turnover of internet services reached much higher levels. The rapid growth is mainly attributed to Xiaomi's ongoing efforts to expand its customer base in key overseas markets, and is supported by MIUI MAU growth in Western Europe and Latin America, with increases of over 60% and 125% respectively (relative to with the previous year).
Products and services with international recognition. The Group wins the first place in the smartphone market of Europe
In the second quarter of 2021, Xiaomi continued to grow rapidly in foreign markets, achieving record performance in leading markets around the world. During the second quarter, turnover from foreign markets increased by 81,6% (year-on-year) to RMB 43,6 billion, setting a record and representing 49,7% of total revenue. According to Canalys, Xiaomi's market share in the second quarter of the year was in the top 5 in 65 markets worldwide, while it was at number 1 in 22 markets. In 10 of them he won first place for the first time.
Xiaomi continued to improve its competitive edge in key markets. According to Canalys, the Group was ranked number 1 in Europe for the first time, with a market share of 28,5% in the second quarter of 2. In Western Europe, Xiaomi's smartphone market share reached 2021%, ranking it in the top 22,2, while it was at number 3 for the 1rd consecutive quarter in Central and Eastern Europe, with a market share of 3%. Xiaomi was at number 36,4 for the 1th consecutive quarter in Spain, with a market share of 6%. For the first time it reached a peak in Italy and France, with a market share of 41,2% and 35% respectively. At the same time, the Group remained in the top 29,7 of Germany, with a share of 3%.
Our high quality products have gained wide popularity in emerging markets with smartphone shipments in these areas experiencing great growth. According to Canalys, in the second quarter of 2021 Xiaomi's smartphone shipments to Latin America increased by 324.4% (year-on-year), with the company being in the top 3. At the same time, Xiaomi's market share in the Middle East and Africa increased by 20,9% and 8,5% respectively. In addition, the Group performed exceptionally well in Southeast Asia. Xiaomi was ranked No. 1 in Southeast Asia, with a market share of 28,2%.
The Group continued to use its internet channels abroad. In the first half of 2021, more than 10 million smartphones were sold online abroad (excluding India) showing an increase of more than 60% compared to last year.
Strong growth, based on continuous commitment to technological innovation and talent development
Xiaomi remains steadfast in its search for technological advances that will strengthen the backbone of the industry. In the second quarter of 2021 the company invested RMB 3,1 billion in research and development, increasing these costs by 56,5% compared to last year.
In July 2021, the Group started operations at Changping Smart Factory located in the area Changping of Beijing. The installation will be based on the features R&D and its production Yizhuang Smart Factory. The Group aims for Changping Smart Factory to be able to support the annual production of up to 10 million premium smartphones and believes that smart factories will boost its innovative technologies and highlight the benefits of transformational efficiency, accelerating the functionality revolution in China's construction industry.
Since its inception, the Xiaomi placed great emphasis on developing, retaining and promoting talent. Him July of 2021, the Group announced two award grants. Entering its new decade, the Xiaomi intends to assign managerial positions to new business talents, rewarding them for their innovative initiatives, motivating them to progress within the Xiaomi.
Press Release
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