小米集团2023年第一季度业绩公布

xiaomicorporation

Q12023ResultsAnnouncement

2

Byattendingthemeetingwherethispresentationismade,orbyreadingthepresentationmaterials,youagreetobeboundbythefollowinglimitations:

TheinformationinthispresentationhasbeenpreparedbyrepresentativesofXiaomiCorporation(the“Company”,andtogetherwithitssubsidiaries,the"Group")foruseinpresentationsbytheGroupanddoesnotconstitutearecommendationregardingthesecuritiesoftheGroup.Nopartofthispresentationshouldformthebasisof,orbereliedoninconnectionwith,anycontractorcommitmentorinvestmentdecisionwhatsoever.

Norepresentationorwarranty,expressorimplied,ismadeasto,andnorelianceshouldbeplacedon,thefairness,accuracy,completenessorcorrectnessoftheinformation,oropinionscontainedherein.NeithertheCompanynoranyoftheCompany'ssubsidiaries,affiliates,advisorsorrepresentativesshallhaveanyresponsibilityorliabilitywhatsoever(fornegligenceorotherwise)foranylosshowsoeverarisingfromanyuseofthispresentationoritscontentsorotherwisearisinginconnectionwiththispresentation.Theinformationsetouthereinmaybesubjecttoupdating,completion,revision,verificationandamendmentandsuchinformationmaychangematerially.

Thispresentationisbasedontheeconomic,regulatory,marketandotherconditionsineffectonthedatehereof.Itshouldbeunderstoodthatsubsequentdevelopmentsmayaffecttheinformationcontainedinthispresentation,whichneithertheCompanynoritssubsidiaries,affiliates,advisorsorrepresentativesareunderanobligationtoupdate,reviseoraffirm.

Theinformationcommunicatedinthispresentationmaycontaincertainstatementsthatareormaybeforwardlooking.Thesestatementstypicallycontainwordssuchas"will","may","expects","forecasts","plans"and"anticipates"andwordsofsimilarimport.Bytheirnatureforwardlookingstatementsinvolveriskanduncertaintybecausetheyrelatetoeventsanddependoncircumstancesthatwilloccurinthefuture.TheremaybeadditionalmaterialrisksthatarecurrentlynotconsideredtobematerialorofwhichtheCompanyanditsadvisorsorrepresentativesareunaware.Againstthebackgroundoftheseuncertainties,readersshouldnotrelyontheseforward-lookingstatements.NeithertheCompanynoritssubsidiaries,affiliates,advisorsorrepresentativesassumeanyresponsibilitytoupdateforward-lookingstatementsortoadaptthemtofutureeventsordevelopments.

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Inaddition,certaininformationrelatedtoothercompaniesandmarketingeneralpresentedinthispresentationhasbeenobtainedfrompubliclyavailableinformation.TheaccuracyandappropriatenessofthatinformationhasnotbeenverifiedbytheCompanyandcannotbeguaranteed.

Noinvitationismadebythispresentationortheinformationcontainedhereintoenterinto,oroffertoenterinto,anyagreementtopurchase,acquire,disposeof,subscribefororunderwriteanysecuritiesorstructuredproducts,andnoofferismadeofanysharesinordebenturesofacompanyforpurchaseorsubscriptionexceptaspermittedunderrelevantlaws.

Q12023OverallPerformance

FinancialPerformance

Revenue

RMB

59.5billion

AdjustedNetProfit1

RMB

3.2billion,up13.1%YoY

Includingexpensesrelatedto

smartEVandothernewinitiatives

RMB1.1billion

UserBase

594.8million

GlobalMIUIMAU3

12.4%YoY

146.2million

MainlandChinaMIUIMAU37.8%YoY

SmartphoneMarketPosition

#3

Global

MarketShareRanking2

11.3%

Global

MarketShare2

AIoTPlatform

618.0million

AIoTConnectedDevices429.2%YoY

12.3million

Userswith5orMoreConnectedDevices429.6%YoY

1Definedasprofitfortheperiod,asadjustedbyaddingback(i)share-basedcompensation,(ii)netfairvaluechangesoninvestments,(iii)amortizationofintangibleassetsresultingfromacquisitions,(iv)changesofvalueoffinancialliabilitiestofundinvestors,and(v)incometaxeffectsofnon-IFRSadjustments

2AccordingtoCanalys,byshipmentsinQ12023

3InMarch2023

3

4AsofMarch31,2023,excludingsmartphones,tabletsandlaptops

4

ContinuetoInvestintheFuture

PrudentOperations

2023KeyCorporateStrategies

DualEmphasison

Scaleand

Profitability

MainlandChinaSmartphone

ASP(RMB)

18%+

Q12022Q12023

RelentlessExecutionofSmartphonePremiumizationStrategy

FourConsecutivePremiumProductSeriesWellReceivedamongUsers1

XiaomiMIXFold2

LaunchedinAugust2022

99%+

Xiaomi13Series

LaunchedinDecember2022

99%+

Xiaomi13Ultra

LaunchedinApril2023

99%+

Xiaomi12SUltra

LaunchedinJuly2022

98%+

RMB4,000-5,000SmartphoneMarketShare2inMainlandChina

RankedNo.1AmongAndroidBrands

16.4%

Q12023

InmainlandChina,ouroverallpremiumsmartphonessoldinQ12023increasedby23%+YoY2

Q12022

24.1%

1PositivereviewrateonJD.cominonemonthafterproductlaunch.BasedonratingsfromXiaomiJDself-operatedflagshipstore

2ByunitssoldinmainlandChina,accordingtothird-partydata.PremiumsmartphonesinmainlandChinaaresmartphoneswithretailpricesatoraboveRMB3,000

5

StrengthenedOfflineRetailPerformanceinMainlandChina

Averagesingle-storeGMVbyQuarter

Q12022Q22022Q32022Q42022Q12023

SmartphoneOfflineMarketShare1

6.7%

Q12023

55%+

ofXiaomi13Series2and

Xiaomi13Ultrasold

viaofflineretailstores3

2022

6.7%

7.9%

2021

1ByunitssoldinmainlandChina,accordingtothird-partydata

2IncludingXiaomi13andXiaomi13Pro

3AsofMay17,2023

6

NumberofGrantedPatentsGlobally1

32,000+

R&DExpensesRMBBillions

20+

13.2

9.3

7.5

5.8

3.2

16.0

4.1

2017201820192020202120222023

R&DExpensesReachedRMB4.1billioninQ12023

NumberofR&DEmployees1

50%+

ofTotalEmployees1

XiaomiCameraAlgorithmTeam

Won4ChampionsinCVPR2023

CVPRisthemostinfluentialseminargloballyinthecomputervisionfield

1AsofMarch31,2023

7

8

EmbraceAIOpportunitiesProactively

Self-developedAIassistant

Cameraalgorithm

Autonomousdriving

…

TechnologyAdvantages

Smartphone

operatingsystem

Automotive

operatingsystem

…

RelevantUseCases

1,200+AI-relatedemployees

AssembledAILab

largelanguagemodel

team

ExperiencedTeam

Self-developedcoretechnologies

Potential

collaborationwith

thirdparties

Strategicinvestmentopportunities

DevelopmentStrategies

9

GrossProfitMarginImprovedinQ12023

SmartphoneGrossProfitMargin

%

11.2%

9.9%

8.9%

8.7%

8.2%

Q12022Q22022Q32022Q42022Q12023

OverallGrossProfitMargin

%

19.5%

17.3%

16.8%16.6%

Q12022Q22022Q32022Q42022Q12023

17.2%

10

ContinuedtoControlOperatingExpenses

OperatingExpenses

RMBBillions

11.9

1

1.1

10.6

9.48.2

1.2

0.8

0.6

10.4

10.2

9.4

9.6

9.8

Q12022Q22022Q32022Q42022Q12023

Operatingexpenses(excludingexpensesrelated

tosmartEVandothernewinitiatives)

ExpensesrelatedtosmartEVandothernewinitiatives

(1.7)(2.4)(2.9)(3.5)(3.7)

LowestInventoryLevelsin9Quarters

Inventory

RMBBillions

57.8

53.0

10.4

9.0

7.3

26.6

22.0

19.817.219.617.116.9

56.1

11.4

50.4

8.1

42.6

32.5

27.3

28.7

Q12022Q22022Q32022Q42022Q12023

RawmaterialsFinishedgoodsOthers1Provisionforimpairment

1Includingworkinprogress,spareparts,andothers

11

GlobalMIUIMAU1exceeded

600million

100million

2015/08

First100

CornerstoneUsers

.

2010/08/16

.

600million

2023/05

500million●

2021/11

400million

2021/01

300million

2019/10

200million

2018/06

1GlobalMIUIMAUasofMay21,2023referstothenumberofactiveusersinthelast30days

12

Smartphones

14

InQ12023,smartphonesrevenuewasRMB35.0billion

Smartphoneshipmentswere30.4millionunits

ASPincreasedtoRMB1,152,up2.7%QoQ

Grossprofitmarginreached11.2%

ResilientPerformanceDespiteMacroeconomicHeadwinds

SmartphonesRevenue

RMBBillions

36.7

35.0

Q42022Q12023

GlobalSmartphoneShipmentsRankedNo.3inQ12023

Vendor

Q12023Shipments

(MillionUnits)

Q12023MarketShare

QoQShipmentsChanges

(MillionUnits)

Samsung

60.3

22.4%

2.0

Apple

58.0

21.5%

-15.2

Xiaomi

30.5

11.3%

-2.7

OPPO

26.6

9.9%

-1.9

vivo

20.9

7.8%

-3.0

Others

73.4

27.2%

-6.3

Total

269.8

100.0%

-27.1

Source:Canalys,byshipments

15

MainlandChinaSmartphoneUnitsSoldRankedNo.4inQ12023

Vendor

Q12023UnitsSold

(MillionUnits)

Q12023MarketShare

QoQUnitsSoldGrowth

Apple

13.5

18.9%

-13.2%

OPPO

11.6

16.2%

17.5%

vivo

10.3

14.5%

25.5%

Xiaomi

10.3

14.4%

22.2%

HONOR

10.1

14.2%

10.2%

Others

15.6

21.8%

10.4%

Total

71.3

100.0%

9.2%

Source:Third-partydata,byunitssold

16

LeadershipAcrossAllMajorMarketsGlobally

Q12023XiaomiSmartphoneShipmentsRankingandMarketShare

No.3

18.9%

Europe

Africa

No.3

13.3%

LatinAmerica

No.312.0%

SoutheastAsia

No.313.8%

MiddleEast

No.416.2%

India

No.36.1%

SmartphoneMarketShareRankedTop3in47MarketsandTop5in64Markets

17

Source:Canalys,byshipments

18

ThreeSpecialEditionColors

Xiaomi13Ultra:UnparalleledImagingExperience

LaunchedinMainlandChinainApril2023

Further-upgradedSummicronLensforMobileImaging,Co-developedwithLeica

AQuadCameraSystemwithLeicaOpticalLensCoveringSixFocalLengths

Powerful

Snapdragon8Gen2

2KDisplaywithPeak

Brightnessupto2,600nits

Self-developedSurge

P2ChargingChipandG1BatteryManagementChip

19

RedmiNote12Turbo:UltraPerformance

LaunchedinMainlandChinainMarch2023

Performance

Snapdragon7+Gen2

Display

OLEDscreenwith

super-thinframe

Camera

64MP+OIS

Upto16GBofRAMand1TBofstorage

Launchedtogetherwith

RedmiBuds4HarryPotterEdition

AIoT

GlobalLeadingConsumerAIoTPlatform

NumberofConnectedDevices1

Millions

618.0

589.4

558.3

526.9

478.1

Q12022Q22022Q32022Q42022Q12023

Userswith5orMoreDevicesConnectedtoXiaomi’sAIoTPlatform1

Millions

12.3

11.6

10.9

10.2

Q12022Q22022Q32022Q42022Q12023

9.5

MiHomeAppMAU

Millions

78.1

75.8

72.4

70.8

65.8

Q12022Q22022Q32022Q42022Q12023

1Excludingsmartphones,tabletsandlaptops21

22

IoTandLifestyle

InQ12023,IoTandlifestyleproductsrevenuereachedRMB16.8billion

Grossprofitmarginreached15.7%,a

recordhigh

ProductsRevenue

IoTandLifestyleProductsRevenueRMBBillions

21.4

16.8

Q42022Q12023

23

Air

Conditioners

Washing

Machines

SmartLargeHomeAppliances:SolidGrowth

RevenueGrewby60%+YoYinQ12023

Refrigerators

Airconditionershipmentsexceeded420k

unitsinQ12023,up60%+YoY

Refrigeratorshipmentsexceeded350kunits

inQ12023,tripledtheshipmentsofQ12022

Washingmachineshipmentsexceeded

250kunitsinQ12023

、

SmartTV:LeadingPositionGlobally

XiaomiTVMasterMiniLED86"

LaunchedinMainlandChinainApril2023

GlobalSmartTVShipmentsinQ12023

2.8million

RankedTop5Globally1

1AccordingtoAVC,byshipmentsinQ12023

24

Wearables:LeadingPositioninMainlandChina

LeadingBrand

WearableBands

MainlandChina

Shipments1

No.2

TWS

MainlandChinaShipments1

No.2

NewProductLaunch

XiaomiSmartBand8

LaunchedinMainlandChinainApril2023

Ahigh-resolution1.62”fullAMOLEDscreen

Avarietyofaccessoriesthatallowaffixingthedevicetoshoesornecklaces

1AccordingtoCanalys,byshipmentsinQ12023.Wearablebandsincludebasicbands,basicwatches,andsmartwatches25

26

NumerousGlobalDesignAwardsforOurAIoTProducts

bestofthebest

InternetServices

GlobalMIUIMAU

563.917.0

547.017.8

582.118.2

Millions

529.1

7.8%

Q12022

Q22022Q32022

Q42022

Q12023

Mainland

ChinaMIUIMAU

YoY%

Millions

135.6

140.2

4.6

141.4

1.2

143.7

2.3

146.2

2.6

28

GlobalMIUIMAUReached595million

andMainlandChinaMIUIMAUReached146millioninQ12023

GlobalMIUIMAU1reached594.8million,YoYgrowthof65.7million(12.4%)

MainlandChinaMIUIMAU1reached146.2million,YoYgrowthof10.6million(7.8%)

GlobalTVMAU2exceeded60million

Allthreemetricsreachedrecordhighs

1InMarch2023

2InMarch2023,includingTV,TVboxandTVstickusers

YoY%

12.4%

594.8

12.7

Q12022Q22022Q32022Q42022Q12023

29

1.4

1.0

4.7

1.3

1.3

4.4

SteadyInternetServicesRevenue

InternetServicesRevenueRMBBillions

InQ12023,internetservicesrevenue

reachedRMB7.0billion

Gamingrevenuereachedarecordhigh

QoQ%

7.27.0

-4.2%

25.7%

-7.3%

Q42022Q12023

AdvertisingGaming

Otherinternetvalue-addedservices

30

TieredUserManagementto

IncreasePayingUsers

RefinedBusinessOperationtoEnhanceActivationandConversion

ContinuedPremiumSmartphoneUserPenetration

DiversifiedGamePortfolio

StrongRecoveryofGamingBusiness

XiaomiGamingRevenueYoYGrowth%

16.3%

4.7%

8.7%

3.0%

1.8%

Q12022Q22022Q32022Q42022Q12023

31

OverseasInternetServicesRevenueContinuedtoGrow

InQ12023,overseasinternet

servicesrevenuereachedRMB1.8

billion,up16.4%YoY,accountingfor

25.7%oftotalinternetservices

revenue

Overseasperformance-basedand

brandadsrevenuereachedarecord

high

OverseasInternetServicesRevenue

as%ofTotalInternetServicesRevenue

26.1%25.7%

23.9%24.2%21.9%

Q12022Q22022Q32022Q42022Q12023

Financials

33

Q12023RevenuebyRegionandSegment

TotalRevenue

RMBBillions

66.0

59.5

Q42022Q12023

TotalRevenuebyRegion

RMBBillions

45.4%

59.5

54.6%

MainlandChinaOverseas

SmartphonesRevenue

RMBBillions

36.7

35.0

Q42022Q12023

IoTandLifestyleProductsRevenueRMBBillions

21.4

16.8

Q42022Q12023

InternetServicesRevenue

RMBBillions

7.27.0

Q42022Q12023

34

IoTandLifestyleProducts

Q42022Q12023

15.7%

14.3%

Q42022

Q12023

71.5%

72.3%

Q12023

Overall

19.5%

17.2%

Q42022Q12023

GrossProfitMarginbySegment

11.2%

Smartphones

8.2%

•Decreasedwarrantyprovision(one-timecostofapproximatelyRMB0.7billioninQ42022)

•Improvedproductmix

•IncreasedgrossprofitmarginofsmartTVsandlaptops

•Increasedgrossprofitmarginofcertainlifestyleproducts

InternetServices

•Increasedgrossprofitmarginofgamingbusiness

Q42022Q12023

35

(1.8)

1.1

0.9

1.2

1.5

AdjustedNetProfitup121.3%QoQ

AdjustedNetProfitMovement

RMBBillions

2.5

3.2

Q42022AdjustedNetProfit

IncreaseofSmartphonesGrossProfit

DecreaseofOperating

Expenses

Others

Q12023Adjusted

NetProfit

ExpensesrelatedtosmartEVandothernewinitiatives

StrongCashPosition

CashResources1

RMBBillions

Ourcashresourceswereapproximately

RMB94.6billion

94.3

94.6

Q42022Q12023

1Includingbutnotlimitedto(i)cashandcashequivalents,(ii)restrictedcash,(iii)short-termbankdeposits,(iv)short-terminvestmentsmeasuredatfairvaluethroughprofitorloss,(v)short-term

investmentsmeasuredatamortizedcost,(vi)long-termbankdepositsand(vii)otherinvestmentsincludedinlong-terminvestmentsmeasuredatfairvaluethroughprofitorloss