


According to news on May 25, Xiaomi Group’s latest financial report showed that the company’s revenue continued to decline in the first quarter of 2023, but the progress of its car-making business may slightly exceed expectations. Xiaomi's first-quarter revenue fell to 59.477 billion yuan, a year-on-year decrease of 18.9%. This is the fifth consecutive quarter of year-on-year revenue decline. However, thanks to the decline in sales, promotion and administrative expenses, Xiaomi achieved a net profit of 4.216 billion yuan, turning a loss into a profit year-on-year; adjusted net profit increased by 13.1% year-on-year.
It is understood that Xiaomi Group President Lu Weibing said in a financial report conference call that their car manufacturing business will proceed according to the original plan, and the schedule may slightly exceed expectations. In addition, Xiaomi Auto will also conduct winter testing and summer testing as planned this year.
The financial report also shows that Xiaomi spent 1.1 billion yuan on innovative businesses including smart electric vehicles in the first quarter, accounting for 26.8% of R&D expenses in the same period (a total of 4.1 billion yuan).
A research report from Zhongtai International Securities pointed out that Xiaomi has invested a lot in new business, and it is expected that related R&D and operational investment will reach 7.5 billion to 8 billion yuan in 2023. They still insist on Xiaomi's short-term goal of achieving formal mass production in the first half of 2024, and the long-term goal is to enter the top five in the world within 15 to 20 years.
In addition, Xiaomi’s main business, smartphones, was affected by the decline in shipments and average selling prices, with revenue falling 23.6% year-on-year to 34.985 billion yuan. Compared with the same period last year, revenue from the Internet of Things, consumer products, Internet services and other businesses fell by 13.6%, 1.2% and 21.3% respectively.
The financial report shows that the proportion of mobile phone business in total revenue has dropped to less than 60% for two consecutive quarters, and smartphone shipments fell by 21.1% year-on-year to 30.4 million units. The impact of inventory clearance in overseas markets caused the average selling price to fall by 3.1% year-on-year to 1,151.6 yuan. However, due to the decline in memory and display panel prices, the gross profit margin of the mobile phone business increased by 3.1 percentage points month-on-month during the reporting period, reaching 11.2%.
After Xiaomi proposed the business strategy of “pursuing the dual goals of scale and profit” at its Investor Day in February this year, its sales costs and expenses have been significantly reduced. Sales costs and promotion expenses, which are equal to R&D expenses, decreased by 21.0% and 21.9% year-on-year, reaching 4.1 billion yuan respectively. Administrative expenses decreased by 8.8% year-on-year.
In addition, Xiaomi also revealed that they will designate 2023 as the "store integration year" of the new retail operation strategy, and will focus more on improving the operational efficiency of offline stores.
To sum up, although Xiaomi Group still faces the challenge of declining revenue scale, the progress of its car-making business may slightly exceed expectations, bringing new growth momentum to the company in the future.
The above is the detailed content of Xiaomi's automobile business boosts net profit growth, financial report shows revenue decline. For more information, please follow other related articles on the PHP Chinese website!

The rise of Chinese women's tech power in the field of AI: The story behind Honor's collaboration with DeepSeek women's contribution to the field of technology is becoming increasingly significant. Data from the Ministry of Science and Technology of China shows that the number of female science and technology workers is huge and shows unique social value sensitivity in the development of AI algorithms. This article will focus on Honor mobile phones and explore the strength of the female team behind it being the first to connect to the DeepSeek big model, showing how they can promote technological progress and reshape the value coordinate system of technological development. On February 8, 2024, Honor officially launched the DeepSeek-R1 full-blood version big model, becoming the first manufacturer in the Android camp to connect to DeepSeek, arousing enthusiastic response from users. Behind this success, female team members are making product decisions, technical breakthroughs and users

DeepSeek released a technical article on Zhihu, introducing its DeepSeek-V3/R1 inference system in detail, and disclosed key financial data for the first time, which attracted industry attention. The article shows that the system's daily cost profit margin is as high as 545%, setting a new high in global AI big model profit. DeepSeek's low-cost strategy gives it an advantage in market competition. The cost of its model training is only 1%-5% of similar products, and the cost of V3 model training is only US$5.576 million, far lower than that of its competitors. Meanwhile, R1's API pricing is only 1/7 to 1/2 of OpenAIo3-mini. These data prove the commercial feasibility of the DeepSeek technology route and also establish the efficient profitability of AI models.

Website construction is just the first step: the importance of SEO and backlinks Building a website is just the first step to converting it into a valuable marketing asset. You need to do SEO optimization to improve the visibility of your website in search engines and attract potential customers. Backlinks are the key to improving your website rankings, and it shows Google and other search engines the authority and credibility of your website. Not all backlinks are beneficial: Identify and avoid harmful links Not all backlinks are beneficial. Harmful links can harm your ranking. Excellent free backlink checking tool monitors the source of links to your website and reminds you of harmful links. In addition, you can also analyze your competitors’ link strategies and learn from them. Free backlink checking tool: Your SEO intelligence officer

Midea will soon release its first air conditioner equipped with a DeepSeek big model - Midea fresh and clean air machine T6. The press conference is scheduled to be held at 1:30 pm on March 1. This air conditioner is equipped with an advanced air intelligent driving system, which can intelligently adjust parameters such as temperature, humidity and wind speed according to the environment. More importantly, it integrates the DeepSeek big model and supports more than 400,000 AI voice commands. Midea's move has caused heated discussions in the industry, and is particularly concerned about the significance of combining white goods and large models. Unlike the simple temperature settings of traditional air conditioners, Midea fresh and clean air machine T6 can understand more complex and vague instructions and intelligently adjust humidity according to the home environment, significantly improving the user experience.

DeepSeek-R1 empowers Baidu Library and Netdisk: The perfect integration of deep thinking and action has quickly integrated into many platforms in just one month. With its bold strategic layout, Baidu integrates DeepSeek as a third-party model partner and integrates it into its ecosystem, which marks a major progress in its "big model search" ecological strategy. Baidu Search and Wenxin Intelligent Intelligent Platform are the first to connect to the deep search functions of DeepSeek and Wenxin big models, providing users with a free AI search experience. At the same time, the classic slogan of "You will know when you go to Baidu", and the new version of Baidu APP also integrates the capabilities of Wenxin's big model and DeepSeek, launching "AI search" and "wide network information refinement"

AI Prompt Engineering for Code Generation: A Developer's Guide The landscape of code development is poised for a significant shift. Mastering Large Language Models (LLMs) and prompt engineering will be crucial for developers in the coming years. Th

This Go-based network vulnerability scanner efficiently identifies potential security weaknesses. It leverages Go's concurrency features for speed and includes service detection and vulnerability matching. Let's explore its capabilities and ethical


Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

VSCode Windows 64-bit Download
A free and powerful IDE editor launched by Microsoft

SublimeText3 Mac version
God-level code editing software (SublimeText3)

Zend Studio 13.0.1
Powerful PHP integrated development environment

mPDF
mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),

SAP NetWeaver Server Adapter for Eclipse
Integrate Eclipse with SAP NetWeaver application server.
