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2021-05-26

Looks like a buy!

Xiaomi Corp's 1Q Results Beat Estimates

Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business

Xiaomi Corp's 1Q Results Beat Estimates

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":136539821,"tweetId":"136539821","gmtCreate":1622026763863,"gmtModify":1704178064829,"author":{"id":3547200895058303,"idStr":"3547200895058303","authorId":3547200895058303,"authorIdStr":"3547200895058303","name":"YHHH","avatar":"https://static.tigerbbs.com/8070522a16d3e44938774187cdc9c610","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":1,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Looks like a buy!</body></html>","htmlText":"<html><head></head><body>Looks like a buy!</body></html>","text":"Looks like a buy!","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/136539821","repostId":1124807870,"repostType":4,"repost":{"id":"1124807870","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1622024544,"share":"https://ttm.financial/m/news/1124807870?lang=en_US&edition=fundamental","pubTime":"2021-05-26 18:22","market":"us","language":"en","title":"Xiaomi Corp's 1Q Results Beat Estimates","url":"https://stock-news.laohu8.com/highlight/detail?id=1124807870","media":"Tiger Newspress","summary":"Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business","content":"Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business reached 12.9%, and the global shipment of smart phones reached 49.4 million.<img src=\"https://static.tigerbbs.com/0f06f643ff0783b170e7259dff684f3b\" tg-width=\"1187\" tg-height=\"492\" referrerpolicy=\"no-referrer\">KEY HIGHLIGHTS1. Overall Performance In the first quarter of 2021, the total revenue amounted to RMB&nbsp;76.9 billion, representing an increase of 54.7% year-over-year; adjusted net profit for the period was RMB6.1 billion, an increase of 163.8% year-over-year. Notably, both the total revenue and adjusted net profit reached record highs in the quarter, demonstrating the robustness of our business model and the strong execution of our strategies.Our core strategy of “Smartphone × AIoT” continued to underpin the outstanding performance.In the first quarter of 2021,the global smartphone shipments increased by 69.1% year-overyear to 49.4 million units. According to Canalys, Xiaomi maintained a top 3 position in the global smartphone market this quarter, with a market share of 14.1% in terms of shipments. The strong growth of smartphone shipments drove the continued expansion of our global user base.In March 2021, the global monthly active users (“MAU”) of MIUI reached 425.3 million, an increase of 28.6% year-over-year. At the same time, our AIoT platform continued scaling up, with the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reaching 351.1 million as of March 31, 2021. In March 2021, the MAU of our AI assistant “小愛同學” reached 93.0 million.Our smartphone business maintained significant growth in mainland China. According to Canalys, our smartphone shipments in mainland China market grew 74.6% year-over-year, with market share ranking 4th in the first quarter of 2021. Additionally, our internet user base continued to grow. In March 2021, the MAU of MIUI in mainland China reached 118.6 million, representing an increase of 7.7 million, or 6.9%, from December 2020.We continue to enrich our product portfolio to further promote our competitiveness in the premium smartphone market. Notably, our three premium smartphones Mi MIX FOLD, Mi 11 Ultra and Mi 11 Pro all delivered remarkable sales performance immediately following their release in March 2021. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets exceeded 4 million units.Meanwhile, as we further expanded our overseas business, our revenue from overseas markets amounted to RMB37.4 billion in the first quarter of 2021, representing a year-over-year increase of 50.6%. According to Canalys, in terms of smartphone shipments, our market share ranked among the top 5 smartphone companies in 62 countries and regions globally in the first quarter of 2021. Additionally, we ranked No. 2 in Europe for the first time, and rose to the 3rd position in Latin America in market share.Besides delivering solid growth in our existing businesses, we continue to explore new opportunities and broaden our business boundaries. In March 2021, we unveiled our new brand identity, and also announced our official foray into the smart electric vehicle business, setting course on an exciting journey for the next decade.2. Smartphones In the first quarter of 2021, our smartphone business continued to grow significantly.Smartphone revenue amounted to RMB51.5 billion in the quarter, representing an increase of 69.8% year-over-year. The gross profit margin of our smartphone business was 12.9% in this quarter, and our global smartphone shipments reached 49.4 million units. According to Canalys, we maintained our 3rd position globally in terms of smartphone shipments in the quarter, with a market share of 14.1%.Our smartphone business in mainland China maintained rapid growth. According to Canalys, in the first quarter of 2021, we rose to the 4th position with a market share of 14.6%. We further strengthened our market position in online channels. According to third-party data, our online smartphone market share in mainland China jumped to 38.0% in the first quarter of 2021 from 18.5% in the first quarter of 2020. Meanwhile, we also expanded our offline retail presence in mainland China. As of April 30, 2021, the number of our retail stores surpassed 5,500, an increase of over 2,300 stores from December 31, 2020.We continued to execute our dual-brand strategy. During the quarter, we unveiled a series of new products under the Xiaomi brand, including Mi 10S, Mi 11 Lite, Mi 11 Pro, Mi 11 Ultra and Mi MIX FOLD. In particular, with prices starting from RMB9,999, our ultra-premium flagship product Mi MIX FOLD comes equipped with 2K+ foldable display, which offers a remarkable large-screen interactive experience in imaging, reading, video, gaming, etc. It is equipped with Xiaomi’s first self-developed Surge C1 Image Signal Processor optimized for professional photography. It is also the world’s first smartphone to feature a liquid lens. Also,Mi 11 Ultra, with prices starting from RMB5,999, debuted the 50MP GN2 sensor. It comes equipped with the 120x digital zoom periscope lens, and an ultra-wide angle camera capable of capturing a stunningly wide 128° field of view. With these features, Mi 11 Ultra achieved a DXOMARK score of 143 for overall camera performance, ranking 1st globally at the time of launch. Additionally, with diversified designs and functions, Mi 11 Pro and Mi 11 Lite cater to a wide range of demands from various customers. From January 1 to April 30, 2021, total orders of Mi 11, Mi 11 Pro and Mi 11 Ultra exceeded 3 million units, and the sales of our Mi 11 series ranked No. 1 among Android smartphones with prices between RMB4,000 and RMB6,000 in mainland China, according to third-party data.We also offered new positioning and expanded product choices of our Redmi brand. In February 2021, we unveiled Redmi K40, Redmi K40 Pro and Redmi K40 Pro+, which were well received by the market. In April 2021, we unveiled Redmi K40 Gaming Edition with prices starting from RMB1,999. Equipped with the MediaTek Dimensity 1200 processor, Redmi K40 Gaming Edition offers superb gaming performance. Featuring unparalleled heat dissipation, fast charging capabilities, physical pop-up gaming triggers and an ultra-thin body design, it delivers an exceptional gaming experience to the mass market.Our enriched premium product portfolio underpinned our robust growth in the premium smartphone market. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300 or equivalent in overseas markets exceeded 4 million units. In addition, according to third-party data, our market share for smartphones with prices between RMB4,000 and RMB6,000 in mainland China increased to 16.1% in the first quarter of 2021 from 5.5% in the first quarter of 2020.3. IoT and lifestyle products In the first quarter of 2021, IoT and lifestyle products segment witnessed strong performance, with revenue increasing 40.5% year-over-year to RMB18.2 billion.In the first quarter of 2021, global shipments of our smart TVs reached 2.6 million units. According to All View Cloud (“AVC”), our TV shipments ranked No. 1 in mainland China for the 9th consecutive quarter, and remained top five globally. In addition, our large-screen smart TVs continued to gain widespread popularity in the market. According to AVC, Xiaomi and Redmi TVs continued to rank No. 1 by retail sales volume in the over 70-inch TV market in mainland China, with a market share of 29.0%, as retail sales volume increased over 160.0% year-over-year. In February 2021, we introduced Redmi MAX 86” super-size TV, which was well received by the market.During the quarter, we introduced a number of new products with innovative features in our key IoT product categories. We unveiled Mi Smart AC with Ventilation, which takes clean fresh air from the outside to effectively lower indoor carbon-dioxide levels and brings a healthy and comfortable experience to our users, furthering the adoption of a new generation of smart air conditioners with ventilation. Meanwhile, we also unveiled Mi Laptop Pro 15”, featuring a wide color gamut OLED display with 1.07 billion colors to deliver an extraordinary visual experience to our users. Furthermore, we introduced Mi Router AX9000 with price at RMB999.Its top speed of 9,000 Mbps based on three frequency bands and excellent signal coverage support e-sport-level user experiences.We are leveraging our smartphone research and development capabilities to enhance our wearables business, strengthening the synergies between the two businesses. In the first quarter of 2021, revenue from our smart watch segment increased over 300.0% year-overyear. Additionally, we introduced our new generation smart wristband Mi Smart Band 6 in the quarter, with a full screen display while further optimizing our health and fitness algorithm.In mainland China, we maintained our top 3 position in market share across a wide array of smart home product categories. According to “IDC PRC Quarterly Smart Home Device Tracker, 2020Q4,” we ranked No. 1 in air purifiers and smart door locks, and No. 2 in robot vacuum cleaners.Our IoT and lifestyle product segment also continued on its rapid growth trajectory in overseas markets. Revenue from our IoT and lifestyle products in overseas markets increased by 81.1% year-over-year in the quarter. Our electric scooters, air purifiers, Mi Box and other products maintained their widespread popularity.4. Internet services Our internet services segment continued its solid growth as revenue grew 11.4% year-over-year to RMB6.6 billion in the first quarter of 2021. The gross profit margin of our internet services segment reached 72.4% in the quarter.Our global internet user base continued to expand rapidly. In March 2021, the MAU of MIUI increased by 28.6% year-over-year to 425.3 million, while the MAU of MIUI in mainland China rose to 118.6 million, representing a year-over-year increase of 6.4% and a net gain of 7.7 million users from December 2020.In the first quarter of 2021, our advertising revenue reached another quarterly record high of RMB3.9 billion, representing an increase of 46.3% year-over-year. Driven by the expansion of our global user base and the robust growth of premium smartphone users, our advertising revenue, including pre-installation and search services, continued to advance.Our gaming revenue in the first quarter of 2021 increased by 24.8% quarter-over-quarter to RMB1.1 billion. We focused on deepening partnerships with high-quality content providers, while growth in our premium smartphone user base also continued to boost average gaming revenue per user.During the quarter, revenue from other value-added services decreased by 8.6% year-over-year to RMB1.6 billion, primarily because our fintech business further strengthened risk controls and proactively managed the balance of outstanding loans.As we broaden our TV internet service offerings and reached a larger user base, MAU of our smart TVs and Mi Box increased over 34.0% year-over-year in the quarter. Meanwhile, the number of our TV paid subscribers increased 8.2% year-over-year to 4.7 million as of March 31, 2021.In the first quarter of 2021, overseas internet services revenue increased 50.0% year-over-year to RMB0.9 billion, accounting for 13.8% of total internet services revenue. Our internet user base continued to expand in key overseas markets, with MAU of MIUI increasing 95.5% yearover-year in Western Europe. Going forward, we will further diversify our overseas internet service offerings and enhance user experience while driving growth in our overseas internet services business.5. Overseas markets In 2021, we have kept up our strong momentum in major markets around the world. In the first quarter, our revenue from overseas markets increased 50.6% year-over-year to RMB37.4 billion. According to Canalys, our market share in the first quarter ranked among the top five smartphone companies in terms of shipments in 62 countries and regions globally, and No. 1 in 12 countries and regions.We further improved our competitive positioning in key markets. According to Canalys, in the first quarter of 2021, we ranked top 2 for the first time in Europe with an 85.1% yearover-year increase in smartphone shipments and a market share of 22.7%. Notably, we ranked No. 1 in Eastern Europe for the 2nd consecutive quarter as our smartphone shipments increased 81.8% year-over-year to reach 32.5% market share. We also ranked No. 1 for the first time in Russia with a market share of 32.1%. We retained top 3 position in Western Europe as our market share further rose to 16.6% with an 89.3% year-over-year increase in smartphone shipments. We ranked No. 1 in Spain for the 5th consecutive quarter, with 35.1% market share.Additionally, our market position rose to No. 2 in Italy, retained the No. 3 spot in Germany and France and entered the top 5 in the U.K. for the first time, all with growth rate in shipments exceeding 90% year-over-year. Moreover, we ranked No. 1 for the 14th consecutive quarter in India in terms of smartphone shipments, with a market share of 28.3%.We continued our strong growth momentum in new markets. According to Canalys, our position in Latin America rose to No. 3 as our smartphone shipments increased 161.7% yearover-year to reach 11.5% market share. In particular, we climbed to the No. 2 spot in Mexico with 16.7% market share and a 137.1% year-over-year growth in smartphone shipments.Additionally, we ranked No. 3 in the Middle East as our smartphone shipments increased 87.8% year-over-year. Meanwhile, we attained the No. 4 spot in Africa as our smartphone shipments increased 191.0% year-over-year.We continued to strengthen our channel capabilities in overseas markets. In the first quarter of 2021, we sold more than 5.0 million smartphones each via online channels and carrier channels in overseas markets, excluding India, representing year-over-year increases of over 100% and 310%, respectively. According to Canalys, our smartphone market share in Western Europe carrier channels increased to 11.3% in the first quarter of 2021 from 7.4% in the fourth quarter of 2020. As of March 31, 2021, we have established cooperation with over 150 carrier channels (including carrier subsidiaries) worldwide.6. Core strategy updates Smartphone×AIoT “Smartphone × AIoT” remains at the core of our strategy as we continue to enhance our smart ecosystem. As of March 31, 2021, the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reached 351.1 million units. The number of users with five or more devices connected to our AIoT platform (excluding smartphones and laptops) reached 6.8 million, representing a year-over-year increase of 48.9%. In March 2021, our AI Assistant (“小愛同學”) had 93.0 million MAU, and the MAU of our Mi Home App reached 49.2 million, representing a year-over-year increase of 22.8%. Investment in Technology Our relentless pursuit of cutting-edge technology and innovation forms the bedrock of our development and growth. In the first quarter of 2021, we recorded RMB3.0 billion in research and development expenses, representing a year-over-year increase of 61.0%. In the first quarter of 2021, we debuted our first self-developed Image Signal Processor Surge C1 on Mi MIX FOLD. Surge C1 enables more accurate auto focus, auto exposure and auto white balance, boasting another remarkable achievement in our imaging technology. Mi MIX FOLD also features the first liquid lens in a smartphone, replacing the traditional optical lens with a transparent fluid wrapped in film, and allowing telephoto as well as shooting with micro details. Moreover, we debuted the Mi 11 Ultra with an innovative battery technology featuring silicon-oxygen anode battery and new three-phase cooling technology, which rapidly dissipates heat through three substance state changes among solids, liquids and gases, and enables elevated endurance, super-fast charging capabilities and more solid product performance. These innovations are testaments to our continuous efforts to explore and push the boundaries of technological innovations. Moving forward, we will remain committed to ramping up R&amp;D investments and recruiting global technological talents to relentlessly pursue innovations in core technologies as well as smart manufacturing. New Brand IdentityIn March 2021, we unveiled our upgraded brand identity including our new logo, setting forth on our new journey with a refreshed image as we embrace the next decade. Going forward, we will further strengthen our brand promotion efforts and elevate brand awareness across the globe. Commencement of Smart EV Business On March 30, 2021, we announced our plan to establish a wholly-owned subsidiary to manage our smart electric vehicle (“Smart EV”) business. The initial phase of investment will be RMB10 billion, with the total investment amount over the course of the next 10 years estimated to be USD10 billion. Mr. Lei Jun, the Chief Executive Officer of the Group, will concurrently serve as the Chief Executive Officer of the smart electric vehicle business. We hope to offer quality smart electric vehicles to let everyone in the world enjoy smart living anytime, anywhere. Our broad user base, extensive experience in integrating software and hardware, our substantial investment in key technologies and resources across the value chain position us well to become a successful player in the Smart EV space. Investments As of March 31, 2021, we had invested in more than 320 companies with an aggregate book value of RMB51.9 billion, an increase of 60.8% year-over-year. As of March 31, 2021, the total amount of our investments (including (i) fair value of our stakes in listed investee companies accounted for using the equity method based on the stock price on March 31, 2021 (ii) book value of our stakes in unlisted investee companies accounted for using the equity method and (iii) book value of long-term investments measured at fair value through profit or loss) reached RMB69.7 billion. In the first quarter of 2021, we generated net gains (after tax) of RMB0.4 billion on disposal of investments.","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Xiaomi Corp's 1Q Results Beat Estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXiaomi Corp's 1Q Results Beat Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nTiger Newspress \n2021-05-26 18:22\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\nChinese smartphone maker Xiaomi Corp reported first-quarter earnings.In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business reached 12.9%, and the global shipment of smart phones reached 49.4 million.<img src=\"https://static.tigerbbs.com/0f06f643ff0783b170e7259dff684f3b\" tg-width=\"1187\" tg-height=\"492\" referrerpolicy=\"no-referrer\">KEY HIGHLIGHTS1. Overall Performance In the first quarter of 2021, the total revenue amounted to RMB&nbsp;76.9 billion, representing an increase of 54.7% year-over-year; adjusted net profit for the period was RMB6.1 billion, an increase of 163.8% year-over-year. Notably, both the total revenue and adjusted net profit reached record highs in the quarter, demonstrating the robustness of our business model and the strong execution of our strategies.Our core strategy of “Smartphone × AIoT” continued to underpin the outstanding performance.In the first quarter of 2021,the global smartphone shipments increased by 69.1% year-overyear to 49.4 million units. According to Canalys, Xiaomi maintained a top 3 position in the global smartphone market this quarter, with a market share of 14.1% in terms of shipments. The strong growth of smartphone shipments drove the continued expansion of our global user base.In March 2021, the global monthly active users (“MAU”) of MIUI reached 425.3 million, an increase of 28.6% year-over-year. At the same time, our AIoT platform continued scaling up, with the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reaching 351.1 million as of March 31, 2021. In March 2021, the MAU of our AI assistant “小愛同學” reached 93.0 million.Our smartphone business maintained significant growth in mainland China. According to Canalys, our smartphone shipments in mainland China market grew 74.6% year-over-year, with market share ranking 4th in the first quarter of 2021. Additionally, our internet user base continued to grow. In March 2021, the MAU of MIUI in mainland China reached 118.6 million, representing an increase of 7.7 million, or 6.9%, from December 2020.We continue to enrich our product portfolio to further promote our competitiveness in the premium smartphone market. Notably, our three premium smartphones Mi MIX FOLD, Mi 11 Ultra and Mi 11 Pro all delivered remarkable sales performance immediately following their release in March 2021. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets exceeded 4 million units.Meanwhile, as we further expanded our overseas business, our revenue from overseas markets amounted to RMB37.4 billion in the first quarter of 2021, representing a year-over-year increase of 50.6%. According to Canalys, in terms of smartphone shipments, our market share ranked among the top 5 smartphone companies in 62 countries and regions globally in the first quarter of 2021. Additionally, we ranked No. 2 in Europe for the first time, and rose to the 3rd position in Latin America in market share.Besides delivering solid growth in our existing businesses, we continue to explore new opportunities and broaden our business boundaries. In March 2021, we unveiled our new brand identity, and also announced our official foray into the smart electric vehicle business, setting course on an exciting journey for the next decade.2. Smartphones In the first quarter of 2021, our smartphone business continued to grow significantly.Smartphone revenue amounted to RMB51.5 billion in the quarter, representing an increase of 69.8% year-over-year. The gross profit margin of our smartphone business was 12.9% in this quarter, and our global smartphone shipments reached 49.4 million units. According to Canalys, we maintained our 3rd position globally in terms of smartphone shipments in the quarter, with a market share of 14.1%.Our smartphone business in mainland China maintained rapid growth. According to Canalys, in the first quarter of 2021, we rose to the 4th position with a market share of 14.6%. We further strengthened our market position in online channels. According to third-party data, our online smartphone market share in mainland China jumped to 38.0% in the first quarter of 2021 from 18.5% in the first quarter of 2020. Meanwhile, we also expanded our offline retail presence in mainland China. As of April 30, 2021, the number of our retail stores surpassed 5,500, an increase of over 2,300 stores from December 31, 2020.We continued to execute our dual-brand strategy. During the quarter, we unveiled a series of new products under the Xiaomi brand, including Mi 10S, Mi 11 Lite, Mi 11 Pro, Mi 11 Ultra and Mi MIX FOLD. In particular, with prices starting from RMB9,999, our ultra-premium flagship product Mi MIX FOLD comes equipped with 2K+ foldable display, which offers a remarkable large-screen interactive experience in imaging, reading, video, gaming, etc. It is equipped with Xiaomi’s first self-developed Surge C1 Image Signal Processor optimized for professional photography. It is also the world’s first smartphone to feature a liquid lens. Also,Mi 11 Ultra, with prices starting from RMB5,999, debuted the 50MP GN2 sensor. It comes equipped with the 120x digital zoom periscope lens, and an ultra-wide angle camera capable of capturing a stunningly wide 128° field of view. With these features, Mi 11 Ultra achieved a DXOMARK score of 143 for overall camera performance, ranking 1st globally at the time of launch. Additionally, with diversified designs and functions, Mi 11 Pro and Mi 11 Lite cater to a wide range of demands from various customers. From January 1 to April 30, 2021, total orders of Mi 11, Mi 11 Pro and Mi 11 Ultra exceeded 3 million units, and the sales of our Mi 11 series ranked No. 1 among Android smartphones with prices between RMB4,000 and RMB6,000 in mainland China, according to third-party data.We also offered new positioning and expanded product choices of our Redmi brand. In February 2021, we unveiled Redmi K40, Redmi K40 Pro and Redmi K40 Pro+, which were well received by the market. In April 2021, we unveiled Redmi K40 Gaming Edition with prices starting from RMB1,999. Equipped with the MediaTek Dimensity 1200 processor, Redmi K40 Gaming Edition offers superb gaming performance. Featuring unparalleled heat dissipation, fast charging capabilities, physical pop-up gaming triggers and an ultra-thin body design, it delivers an exceptional gaming experience to the mass market.Our enriched premium product portfolio underpinned our robust growth in the premium smartphone market. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300 or equivalent in overseas markets exceeded 4 million units. In addition, according to third-party data, our market share for smartphones with prices between RMB4,000 and RMB6,000 in mainland China increased to 16.1% in the first quarter of 2021 from 5.5% in the first quarter of 2020.3. IoT and lifestyle products In the first quarter of 2021, IoT and lifestyle products segment witnessed strong performance, with revenue increasing 40.5% year-over-year to RMB18.2 billion.In the first quarter of 2021, global shipments of our smart TVs reached 2.6 million units. According to All View Cloud (“AVC”), our TV shipments ranked No. 1 in mainland China for the 9th consecutive quarter, and remained top five globally. In addition, our large-screen smart TVs continued to gain widespread popularity in the market. According to AVC, Xiaomi and Redmi TVs continued to rank No. 1 by retail sales volume in the over 70-inch TV market in mainland China, with a market share of 29.0%, as retail sales volume increased over 160.0% year-over-year. In February 2021, we introduced Redmi MAX 86” super-size TV, which was well received by the market.During the quarter, we introduced a number of new products with innovative features in our key IoT product categories. We unveiled Mi Smart AC with Ventilation, which takes clean fresh air from the outside to effectively lower indoor carbon-dioxide levels and brings a healthy and comfortable experience to our users, furthering the adoption of a new generation of smart air conditioners with ventilation. Meanwhile, we also unveiled Mi Laptop Pro 15”, featuring a wide color gamut OLED display with 1.07 billion colors to deliver an extraordinary visual experience to our users. Furthermore, we introduced Mi Router AX9000 with price at RMB999.Its top speed of 9,000 Mbps based on three frequency bands and excellent signal coverage support e-sport-level user experiences.We are leveraging our smartphone research and development capabilities to enhance our wearables business, strengthening the synergies between the two businesses. In the first quarter of 2021, revenue from our smart watch segment increased over 300.0% year-overyear. Additionally, we introduced our new generation smart wristband Mi Smart Band 6 in the quarter, with a full screen display while further optimizing our health and fitness algorithm.In mainland China, we maintained our top 3 position in market share across a wide array of smart home product categories. According to “IDC PRC Quarterly Smart Home Device Tracker, 2020Q4,” we ranked No. 1 in air purifiers and smart door locks, and No. 2 in robot vacuum cleaners.Our IoT and lifestyle product segment also continued on its rapid growth trajectory in overseas markets. Revenue from our IoT and lifestyle products in overseas markets increased by 81.1% year-over-year in the quarter. Our electric scooters, air purifiers, Mi Box and other products maintained their widespread popularity.4. Internet services Our internet services segment continued its solid growth as revenue grew 11.4% year-over-year to RMB6.6 billion in the first quarter of 2021. The gross profit margin of our internet services segment reached 72.4% in the quarter.Our global internet user base continued to expand rapidly. In March 2021, the MAU of MIUI increased by 28.6% year-over-year to 425.3 million, while the MAU of MIUI in mainland China rose to 118.6 million, representing a year-over-year increase of 6.4% and a net gain of 7.7 million users from December 2020.In the first quarter of 2021, our advertising revenue reached another quarterly record high of RMB3.9 billion, representing an increase of 46.3% year-over-year. Driven by the expansion of our global user base and the robust growth of premium smartphone users, our advertising revenue, including pre-installation and search services, continued to advance.Our gaming revenue in the first quarter of 2021 increased by 24.8% quarter-over-quarter to RMB1.1 billion. We focused on deepening partnerships with high-quality content providers, while growth in our premium smartphone user base also continued to boost average gaming revenue per user.During the quarter, revenue from other value-added services decreased by 8.6% year-over-year to RMB1.6 billion, primarily because our fintech business further strengthened risk controls and proactively managed the balance of outstanding loans.As we broaden our TV internet service offerings and reached a larger user base, MAU of our smart TVs and Mi Box increased over 34.0% year-over-year in the quarter. Meanwhile, the number of our TV paid subscribers increased 8.2% year-over-year to 4.7 million as of March 31, 2021.In the first quarter of 2021, overseas internet services revenue increased 50.0% year-over-year to RMB0.9 billion, accounting for 13.8% of total internet services revenue. Our internet user base continued to expand in key overseas markets, with MAU of MIUI increasing 95.5% yearover-year in Western Europe. Going forward, we will further diversify our overseas internet service offerings and enhance user experience while driving growth in our overseas internet services business.5. Overseas markets In 2021, we have kept up our strong momentum in major markets around the world. In the first quarter, our revenue from overseas markets increased 50.6% year-over-year to RMB37.4 billion. According to Canalys, our market share in the first quarter ranked among the top five smartphone companies in terms of shipments in 62 countries and regions globally, and No. 1 in 12 countries and regions.We further improved our competitive positioning in key markets. According to Canalys, in the first quarter of 2021, we ranked top 2 for the first time in Europe with an 85.1% yearover-year increase in smartphone shipments and a market share of 22.7%. Notably, we ranked No. 1 in Eastern Europe for the 2nd consecutive quarter as our smartphone shipments increased 81.8% year-over-year to reach 32.5% market share. We also ranked No. 1 for the first time in Russia with a market share of 32.1%. We retained top 3 position in Western Europe as our market share further rose to 16.6% with an 89.3% year-over-year increase in smartphone shipments. We ranked No. 1 in Spain for the 5th consecutive quarter, with 35.1% market share.Additionally, our market position rose to No. 2 in Italy, retained the No. 3 spot in Germany and France and entered the top 5 in the U.K. for the first time, all with growth rate in shipments exceeding 90% year-over-year. Moreover, we ranked No. 1 for the 14th consecutive quarter in India in terms of smartphone shipments, with a market share of 28.3%.We continued our strong growth momentum in new markets. According to Canalys, our position in Latin America rose to No. 3 as our smartphone shipments increased 161.7% yearover-year to reach 11.5% market share. In particular, we climbed to the No. 2 spot in Mexico with 16.7% market share and a 137.1% year-over-year growth in smartphone shipments.Additionally, we ranked No. 3 in the Middle East as our smartphone shipments increased 87.8% year-over-year. Meanwhile, we attained the No. 4 spot in Africa as our smartphone shipments increased 191.0% year-over-year.We continued to strengthen our channel capabilities in overseas markets. In the first quarter of 2021, we sold more than 5.0 million smartphones each via online channels and carrier channels in overseas markets, excluding India, representing year-over-year increases of over 100% and 310%, respectively. According to Canalys, our smartphone market share in Western Europe carrier channels increased to 11.3% in the first quarter of 2021 from 7.4% in the fourth quarter of 2020. As of March 31, 2021, we have established cooperation with over 150 carrier channels (including carrier subsidiaries) worldwide.6. Core strategy updates Smartphone×AIoT “Smartphone × AIoT” remains at the core of our strategy as we continue to enhance our smart ecosystem. As of March 31, 2021, the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reached 351.1 million units. The number of users with five or more devices connected to our AIoT platform (excluding smartphones and laptops) reached 6.8 million, representing a year-over-year increase of 48.9%. In March 2021, our AI Assistant (“小愛同學”) had 93.0 million MAU, and the MAU of our Mi Home App reached 49.2 million, representing a year-over-year increase of 22.8%. Investment in Technology Our relentless pursuit of cutting-edge technology and innovation forms the bedrock of our development and growth. In the first quarter of 2021, we recorded RMB3.0 billion in research and development expenses, representing a year-over-year increase of 61.0%. In the first quarter of 2021, we debuted our first self-developed Image Signal Processor Surge C1 on Mi MIX FOLD. Surge C1 enables more accurate auto focus, auto exposure and auto white balance, boasting another remarkable achievement in our imaging technology. Mi MIX FOLD also features the first liquid lens in a smartphone, replacing the traditional optical lens with a transparent fluid wrapped in film, and allowing telephoto as well as shooting with micro details. Moreover, we debuted the Mi 11 Ultra with an innovative battery technology featuring silicon-oxygen anode battery and new three-phase cooling technology, which rapidly dissipates heat through three substance state changes among solids, liquids and gases, and enables elevated endurance, super-fast charging capabilities and more solid product performance. These innovations are testaments to our continuous efforts to explore and push the boundaries of technological innovations. Moving forward, we will remain committed to ramping up R&amp;D investments and recruiting global technological talents to relentlessly pursue innovations in core technologies as well as smart manufacturing. New Brand IdentityIn March 2021, we unveiled our upgraded brand identity including our new logo, setting forth on our new journey with a refreshed image as we embrace the next decade. Going forward, we will further strengthen our brand promotion efforts and elevate brand awareness across the globe. Commencement of Smart EV Business On March 30, 2021, we announced our plan to establish a wholly-owned subsidiary to manage our smart electric vehicle (“Smart EV”) business. The initial phase of investment will be RMB10 billion, with the total investment amount over the course of the next 10 years estimated to be USD10 billion. Mr. Lei Jun, the Chief Executive Officer of the Group, will concurrently serve as the Chief Executive Officer of the smart electric vehicle business. We hope to offer quality smart electric vehicles to let everyone in the world enjoy smart living anytime, anywhere. Our broad user base, extensive experience in integrating software and hardware, our substantial investment in key technologies and resources across the value chain position us well to become a successful player in the Smart EV space. Investments As of March 31, 2021, we had invested in more than 320 companies with an aggregate book value of RMB51.9 billion, an increase of 60.8% year-over-year. As of March 31, 2021, the total amount of our investments (including (i) fair value of our stakes in listed investee companies accounted for using the equity method based on the stock price on March 31, 2021 (ii) book value of our stakes in unlisted investee companies accounted for using the equity method and (iii) book value of long-term investments measured at fair value through profit or loss) reached RMB69.7 billion. In the first quarter of 2021, we generated net gains (after tax) of RMB0.4 billion on disposal of investments.\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"01810":"小米集团-W","XIACY":"小米集团ADR"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124807870","content_text":"Chinese smartphone maker Xiaomi Corp reported first-quarter earnings.In the first quarter, Xiaomi group's revenue reached 76.9 billion yuan, a year-on-year increase of 54.7%; The adjusted net profit reached 6.1 billion yuan, up 163.8% year on year; Both total revenue and adjusted net profit reached a record high in a single quarter.In the first quarter, the revenue of smart phone business reached 51.5 billion yuan, a year-on-year increase of 69.8%; The gross profit margin of smart phone business reached 12.9%, and the global shipment of smart phones reached 49.4 million.KEY HIGHLIGHTS1. Overall Performance In the first quarter of 2021, the total revenue amounted to RMB 76.9 billion, representing an increase of 54.7% year-over-year; adjusted net profit for the period was RMB6.1 billion, an increase of 163.8% year-over-year. Notably, both the total revenue and adjusted net profit reached record highs in the quarter, demonstrating the robustness of our business model and the strong execution of our strategies.Our core strategy of “Smartphone × AIoT” continued to underpin the outstanding performance.In the first quarter of 2021,the global smartphone shipments increased by 69.1% year-overyear to 49.4 million units. According to Canalys, Xiaomi maintained a top 3 position in the global smartphone market this quarter, with a market share of 14.1% in terms of shipments. The strong growth of smartphone shipments drove the continued expansion of our global user base.In March 2021, the global monthly active users (“MAU”) of MIUI reached 425.3 million, an increase of 28.6% year-over-year. At the same time, our AIoT platform continued scaling up, with the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reaching 351.1 million as of March 31, 2021. In March 2021, the MAU of our AI assistant “小愛同學” reached 93.0 million.Our smartphone business maintained significant growth in mainland China. According to Canalys, our smartphone shipments in mainland China market grew 74.6% year-over-year, with market share ranking 4th in the first quarter of 2021. Additionally, our internet user base continued to grow. In March 2021, the MAU of MIUI in mainland China reached 118.6 million, representing an increase of 7.7 million, or 6.9%, from December 2020.We continue to enrich our product portfolio to further promote our competitiveness in the premium smartphone market. Notably, our three premium smartphones Mi MIX FOLD, Mi 11 Ultra and Mi 11 Pro all delivered remarkable sales performance immediately following their release in March 2021. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300, or equivalent, in overseas markets exceeded 4 million units.Meanwhile, as we further expanded our overseas business, our revenue from overseas markets amounted to RMB37.4 billion in the first quarter of 2021, representing a year-over-year increase of 50.6%. According to Canalys, in terms of smartphone shipments, our market share ranked among the top 5 smartphone companies in 62 countries and regions globally in the first quarter of 2021. Additionally, we ranked No. 2 in Europe for the first time, and rose to the 3rd position in Latin America in market share.Besides delivering solid growth in our existing businesses, we continue to explore new opportunities and broaden our business boundaries. In March 2021, we unveiled our new brand identity, and also announced our official foray into the smart electric vehicle business, setting course on an exciting journey for the next decade.2. Smartphones In the first quarter of 2021, our smartphone business continued to grow significantly.Smartphone revenue amounted to RMB51.5 billion in the quarter, representing an increase of 69.8% year-over-year. The gross profit margin of our smartphone business was 12.9% in this quarter, and our global smartphone shipments reached 49.4 million units. According to Canalys, we maintained our 3rd position globally in terms of smartphone shipments in the quarter, with a market share of 14.1%.Our smartphone business in mainland China maintained rapid growth. According to Canalys, in the first quarter of 2021, we rose to the 4th position with a market share of 14.6%. We further strengthened our market position in online channels. According to third-party data, our online smartphone market share in mainland China jumped to 38.0% in the first quarter of 2021 from 18.5% in the first quarter of 2020. Meanwhile, we also expanded our offline retail presence in mainland China. As of April 30, 2021, the number of our retail stores surpassed 5,500, an increase of over 2,300 stores from December 31, 2020.We continued to execute our dual-brand strategy. During the quarter, we unveiled a series of new products under the Xiaomi brand, including Mi 10S, Mi 11 Lite, Mi 11 Pro, Mi 11 Ultra and Mi MIX FOLD. In particular, with prices starting from RMB9,999, our ultra-premium flagship product Mi MIX FOLD comes equipped with 2K+ foldable display, which offers a remarkable large-screen interactive experience in imaging, reading, video, gaming, etc. It is equipped with Xiaomi’s first self-developed Surge C1 Image Signal Processor optimized for professional photography. It is also the world’s first smartphone to feature a liquid lens. Also,Mi 11 Ultra, with prices starting from RMB5,999, debuted the 50MP GN2 sensor. It comes equipped with the 120x digital zoom periscope lens, and an ultra-wide angle camera capable of capturing a stunningly wide 128° field of view. With these features, Mi 11 Ultra achieved a DXOMARK score of 143 for overall camera performance, ranking 1st globally at the time of launch. Additionally, with diversified designs and functions, Mi 11 Pro and Mi 11 Lite cater to a wide range of demands from various customers. From January 1 to April 30, 2021, total orders of Mi 11, Mi 11 Pro and Mi 11 Ultra exceeded 3 million units, and the sales of our Mi 11 series ranked No. 1 among Android smartphones with prices between RMB4,000 and RMB6,000 in mainland China, according to third-party data.We also offered new positioning and expanded product choices of our Redmi brand. In February 2021, we unveiled Redmi K40, Redmi K40 Pro and Redmi K40 Pro+, which were well received by the market. In April 2021, we unveiled Redmi K40 Gaming Edition with prices starting from RMB1,999. Equipped with the MediaTek Dimensity 1200 processor, Redmi K40 Gaming Edition offers superb gaming performance. Featuring unparalleled heat dissipation, fast charging capabilities, physical pop-up gaming triggers and an ultra-thin body design, it delivers an exceptional gaming experience to the mass market.Our enriched premium product portfolio underpinned our robust growth in the premium smartphone market. In the first quarter of 2021, global shipments of our smartphones with retail prices at or above RMB3,000 in mainland China and EUR300 or equivalent in overseas markets exceeded 4 million units. In addition, according to third-party data, our market share for smartphones with prices between RMB4,000 and RMB6,000 in mainland China increased to 16.1% in the first quarter of 2021 from 5.5% in the first quarter of 2020.3. IoT and lifestyle products In the first quarter of 2021, IoT and lifestyle products segment witnessed strong performance, with revenue increasing 40.5% year-over-year to RMB18.2 billion.In the first quarter of 2021, global shipments of our smart TVs reached 2.6 million units. According to All View Cloud (“AVC”), our TV shipments ranked No. 1 in mainland China for the 9th consecutive quarter, and remained top five globally. In addition, our large-screen smart TVs continued to gain widespread popularity in the market. According to AVC, Xiaomi and Redmi TVs continued to rank No. 1 by retail sales volume in the over 70-inch TV market in mainland China, with a market share of 29.0%, as retail sales volume increased over 160.0% year-over-year. In February 2021, we introduced Redmi MAX 86” super-size TV, which was well received by the market.During the quarter, we introduced a number of new products with innovative features in our key IoT product categories. We unveiled Mi Smart AC with Ventilation, which takes clean fresh air from the outside to effectively lower indoor carbon-dioxide levels and brings a healthy and comfortable experience to our users, furthering the adoption of a new generation of smart air conditioners with ventilation. Meanwhile, we also unveiled Mi Laptop Pro 15”, featuring a wide color gamut OLED display with 1.07 billion colors to deliver an extraordinary visual experience to our users. Furthermore, we introduced Mi Router AX9000 with price at RMB999.Its top speed of 9,000 Mbps based on three frequency bands and excellent signal coverage support e-sport-level user experiences.We are leveraging our smartphone research and development capabilities to enhance our wearables business, strengthening the synergies between the two businesses. In the first quarter of 2021, revenue from our smart watch segment increased over 300.0% year-overyear. Additionally, we introduced our new generation smart wristband Mi Smart Band 6 in the quarter, with a full screen display while further optimizing our health and fitness algorithm.In mainland China, we maintained our top 3 position in market share across a wide array of smart home product categories. According to “IDC PRC Quarterly Smart Home Device Tracker, 2020Q4,” we ranked No. 1 in air purifiers and smart door locks, and No. 2 in robot vacuum cleaners.Our IoT and lifestyle product segment also continued on its rapid growth trajectory in overseas markets. Revenue from our IoT and lifestyle products in overseas markets increased by 81.1% year-over-year in the quarter. Our electric scooters, air purifiers, Mi Box and other products maintained their widespread popularity.4. Internet services Our internet services segment continued its solid growth as revenue grew 11.4% year-over-year to RMB6.6 billion in the first quarter of 2021. The gross profit margin of our internet services segment reached 72.4% in the quarter.Our global internet user base continued to expand rapidly. In March 2021, the MAU of MIUI increased by 28.6% year-over-year to 425.3 million, while the MAU of MIUI in mainland China rose to 118.6 million, representing a year-over-year increase of 6.4% and a net gain of 7.7 million users from December 2020.In the first quarter of 2021, our advertising revenue reached another quarterly record high of RMB3.9 billion, representing an increase of 46.3% year-over-year. Driven by the expansion of our global user base and the robust growth of premium smartphone users, our advertising revenue, including pre-installation and search services, continued to advance.Our gaming revenue in the first quarter of 2021 increased by 24.8% quarter-over-quarter to RMB1.1 billion. We focused on deepening partnerships with high-quality content providers, while growth in our premium smartphone user base also continued to boost average gaming revenue per user.During the quarter, revenue from other value-added services decreased by 8.6% year-over-year to RMB1.6 billion, primarily because our fintech business further strengthened risk controls and proactively managed the balance of outstanding loans.As we broaden our TV internet service offerings and reached a larger user base, MAU of our smart TVs and Mi Box increased over 34.0% year-over-year in the quarter. Meanwhile, the number of our TV paid subscribers increased 8.2% year-over-year to 4.7 million as of March 31, 2021.In the first quarter of 2021, overseas internet services revenue increased 50.0% year-over-year to RMB0.9 billion, accounting for 13.8% of total internet services revenue. Our internet user base continued to expand in key overseas markets, with MAU of MIUI increasing 95.5% yearover-year in Western Europe. Going forward, we will further diversify our overseas internet service offerings and enhance user experience while driving growth in our overseas internet services business.5. Overseas markets In 2021, we have kept up our strong momentum in major markets around the world. In the first quarter, our revenue from overseas markets increased 50.6% year-over-year to RMB37.4 billion. According to Canalys, our market share in the first quarter ranked among the top five smartphone companies in terms of shipments in 62 countries and regions globally, and No. 1 in 12 countries and regions.We further improved our competitive positioning in key markets. According to Canalys, in the first quarter of 2021, we ranked top 2 for the first time in Europe with an 85.1% yearover-year increase in smartphone shipments and a market share of 22.7%. Notably, we ranked No. 1 in Eastern Europe for the 2nd consecutive quarter as our smartphone shipments increased 81.8% year-over-year to reach 32.5% market share. We also ranked No. 1 for the first time in Russia with a market share of 32.1%. We retained top 3 position in Western Europe as our market share further rose to 16.6% with an 89.3% year-over-year increase in smartphone shipments. We ranked No. 1 in Spain for the 5th consecutive quarter, with 35.1% market share.Additionally, our market position rose to No. 2 in Italy, retained the No. 3 spot in Germany and France and entered the top 5 in the U.K. for the first time, all with growth rate in shipments exceeding 90% year-over-year. Moreover, we ranked No. 1 for the 14th consecutive quarter in India in terms of smartphone shipments, with a market share of 28.3%.We continued our strong growth momentum in new markets. According to Canalys, our position in Latin America rose to No. 3 as our smartphone shipments increased 161.7% yearover-year to reach 11.5% market share. In particular, we climbed to the No. 2 spot in Mexico with 16.7% market share and a 137.1% year-over-year growth in smartphone shipments.Additionally, we ranked No. 3 in the Middle East as our smartphone shipments increased 87.8% year-over-year. Meanwhile, we attained the No. 4 spot in Africa as our smartphone shipments increased 191.0% year-over-year.We continued to strengthen our channel capabilities in overseas markets. In the first quarter of 2021, we sold more than 5.0 million smartphones each via online channels and carrier channels in overseas markets, excluding India, representing year-over-year increases of over 100% and 310%, respectively. According to Canalys, our smartphone market share in Western Europe carrier channels increased to 11.3% in the first quarter of 2021 from 7.4% in the fourth quarter of 2020. As of March 31, 2021, we have established cooperation with over 150 carrier channels (including carrier subsidiaries) worldwide.6. Core strategy updates Smartphone×AIoT “Smartphone × AIoT” remains at the core of our strategy as we continue to enhance our smart ecosystem. As of March 31, 2021, the number of connected IoT devices (excluding smartphones and laptops) on our AIoT platform reached 351.1 million units. The number of users with five or more devices connected to our AIoT platform (excluding smartphones and laptops) reached 6.8 million, representing a year-over-year increase of 48.9%. In March 2021, our AI Assistant (“小愛同學”) had 93.0 million MAU, and the MAU of our Mi Home App reached 49.2 million, representing a year-over-year increase of 22.8%. Investment in Technology Our relentless pursuit of cutting-edge technology and innovation forms the bedrock of our development and growth. In the first quarter of 2021, we recorded RMB3.0 billion in research and development expenses, representing a year-over-year increase of 61.0%. In the first quarter of 2021, we debuted our first self-developed Image Signal Processor Surge C1 on Mi MIX FOLD. Surge C1 enables more accurate auto focus, auto exposure and auto white balance, boasting another remarkable achievement in our imaging technology. Mi MIX FOLD also features the first liquid lens in a smartphone, replacing the traditional optical lens with a transparent fluid wrapped in film, and allowing telephoto as well as shooting with micro details. Moreover, we debuted the Mi 11 Ultra with an innovative battery technology featuring silicon-oxygen anode battery and new three-phase cooling technology, which rapidly dissipates heat through three substance state changes among solids, liquids and gases, and enables elevated endurance, super-fast charging capabilities and more solid product performance. These innovations are testaments to our continuous efforts to explore and push the boundaries of technological innovations. Moving forward, we will remain committed to ramping up R&D investments and recruiting global technological talents to relentlessly pursue innovations in core technologies as well as smart manufacturing. New Brand IdentityIn March 2021, we unveiled our upgraded brand identity including our new logo, setting forth on our new journey with a refreshed image as we embrace the next decade. Going forward, we will further strengthen our brand promotion efforts and elevate brand awareness across the globe. Commencement of Smart EV Business On March 30, 2021, we announced our plan to establish a wholly-owned subsidiary to manage our smart electric vehicle (“Smart EV”) business. The initial phase of investment will be RMB10 billion, with the total investment amount over the course of the next 10 years estimated to be USD10 billion. Mr. Lei Jun, the Chief Executive Officer of the Group, will concurrently serve as the Chief Executive Officer of the smart electric vehicle business. We hope to offer quality smart electric vehicles to let everyone in the world enjoy smart living anytime, anywhere. Our broad user base, extensive experience in integrating software and hardware, our substantial investment in key technologies and resources across the value chain position us well to become a successful player in the Smart EV space. Investments As of March 31, 2021, we had invested in more than 320 companies with an aggregate book value of RMB51.9 billion, an increase of 60.8% year-over-year. As of March 31, 2021, the total amount of our investments (including (i) fair value of our stakes in listed investee companies accounted for using the equity method based on the stock price on March 31, 2021 (ii) book value of our stakes in unlisted investee companies accounted for using the equity method and (iii) book value of long-term investments measured at fair value through profit or loss) reached RMB69.7 billion. In the first quarter of 2021, we generated net gains (after tax) of RMB0.4 billion on disposal of investments.","news_type":1,"symbols_score_info":{"01810":0.9,"XIACY":0.9}},"isVote":1,"tweetType":1,"viewCount":2125,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":14,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}