On the afternoon of May 26, Xiaomi announced its first quarter financial report for 2021. The financial report shows that the total revenue of Xiaomi Group in the first quarter reached 76.9 billion yuan, a year-on-year increase of 54.7%. The adjusted net profit was 6.1 billion yuan, a year-on-year increase of 163.8%. Earnings per share were RMB 0.302, market expectations were RMB 0.187, and RMB 0.089 in the same period last year. In the first quarter of 2021, Xiaomi’s global smartphone shipments increased by 69.1% year-on-year to 49.4 million units. According to Canalys statistics, its global smartphone shipments ranked No. 3 this quarter, with a market share of 14.1%.
In March 2021, the number of global MIUI monthly active users reached 425.3 million, a year-on-year increase of 28.6%.
IoT and consumer products
As of March 31, 2021, the number of IoT devices (not including smartphones and laptops) connected to the AIoT platform reached 350 million. Revenue reached 18.2 billion yuan, a year-on-year increase of 40.5%.
The number of monthly active users of artificial intelligence assistant Xiao Ai reached 93 million in March 2021.
According to Canalys statistics, in the first quarter of 2021, Xiaomi’s smartphone shipments in mainland China increased by 74.6% year-on-year, ranking fourth in market share.
Internet services
The scale of Internet users is also continuing to increase. In March 2021, the number of MIUI monthly active users in mainland China reached 119 million, a net increase of 7.7 million users from December 2020, an increase of 6.9% from the previous month.
Internet service revenue reached 6.6 billion yuan, a year-on-year increase of 11.4%. In the quarter, the gross profit margin of the Internet business reached 72.4%.
In the first quarter of 2021, advertising business revenue hit a record high in a single quarter, reaching 3.9 billion yuan, a year-on-year increase of 46.3%.
Game revenue was 1.1 billion yuan, an increase of 24.8% from the previous month.
Revenue from other value-added services reached 1.6 billion yuan, a year-on-year decrease of 8.6%, mainly due to the continued strengthening of risk control in the financial technology business and the active control of loan scale.
In this quarter, the number of monthly active users of Xiaomi Smart TV and Xiaomi Box increased by more than 34.0% year-on-year. At the same time, as of March 31, 2021, Xiaomi TV’s paid subscribers have reached 4.7 million, a year-on-year increase of 8.2%.
Overseas market
In the first quarter of 2021, Xiaomi’s overseas market revenue reached 37.4 billion yuan, a year-on-year increase of 50.6%. According to Canalys statistics, in terms of smartphone shipments, Xiaomi ranked the top five in market share in 62 countries and regions in the world this quarter, and ranked first in 12 countries and regions in the world.
Revenue from overseas markets reached 37.4 billion yuan, a year-on-year increase of 50.6%. According to Canalys statistics, in terms of smartphone shipments, Xiaomi ranked in the top five in terms of market share in 62 countries and regions in the world this quarter, ranking second in Europe for the first time, and rising to third in Latin America.
Other
As of April 30, 2021, the total number of Xiaomi’s retail stores in mainland China exceeded 5,500, an increase of more than 2,300 from December 31, 2020.
In the first quarter of 2021, Xiaomi’s R&D expenditure reached 3 billion yuan, a year-on-year increase of 61.0%.
As of March 31, 2021, Xiaomi has invested in more than 320 companies with a total book value of 51.9 billion yuan, a year-on-year increase of 60.8%. As of March 31, 2021, the total value of Xiaomi investment (including (i) the fair value of the listed company in the investment calculated by the equity method (calculated based on the stock price on March 31, 2021); (ii) the investment calculated by the equity method The book value of China-Africa listed companies; and (iii) the book value of long-term investments included in current profits and losses at fair value) is 69.7 billion yuan. In the first quarter of 2021, Xiaomi’s self-disposal of investments recorded a net income of 400 million yuan after tax.