Xiaomi's Electric Vehicle Profit Recovery Fails to Ease Concerns Over Production as Stock Falls
- Xiaomi Corp. reported 22.3% YoY revenue growth to 113.1B yuan in Q3, driven by EV and IoT expansion, but missed analyst forecasts of 116.5B yuan. - EV division posted first 700M yuan profit, selling 108,796 vehicles, but faces production delays and nine-month delivery waits. - Smartphone revenue grew 1.6% to 84.1B yuan amid rising chip costs; IoT revenue rose 5.6% to 27.6B yuan as subsidies declined. - Shares fell 2.81% to 41 HKD despite 80.9% net profit surge, as investors worried about revenue shortfal
Xiaomi Corp. (1810.HK) announced a 22.3% rise in revenue year-over-year, reaching 113.1 billion yuan ($15.9 billion) for the third quarter, fueled by growth in its electric vehicle (EV) and Internet of Things (IoT) sectors, although
The EV unit, which began operations in 2024,
Revenue from smartphones, Xiaomi’s primary business,
The recent drop in Xiaomi’s stock price mirrors wider market trends. Although the stock is up 18.2% so far this year, it has declined 23% since September
Xiaomi’s gross margin improved to 22.9% from 20.4% a year ago,
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