n the evening of August 19, Xiaomi Group released its financial report for the second quarter of 2025. The financial report shows that Xiaomi Group’s total revenue in the second quarter of 2025 was 115.96 billion yuan, a year-on-year increase of 30.5%, exceeding 100 billion yuan for three consecutive quarters and hitting a record high; the adjusted net profit was 10.8 billion yuan, a year-on-year surge of 75.4%, exceeding 10 billion yuan for two consecutive quarters. In simple terms, in the second quarter of this year, both Xiaomi Group’s revenue and profit hit record highs.
Xiaomi Group’s business is mainly divided into two major segments. Among them, the revenue of the Mobile Phone × AIoT segment was 94.7 billion yuan, a year-on-year increase of 14.8%, accounting for 81.7% of Xiaomi Group’s total revenue. The revenue of Xiaomi’s smartphone business was 45.5 billion yuan, and the global smartphone shipment volume was 42.4 million units, a year-on-year increase of 0.6%.
In addition, Xiaomi Group’s impressive performance report is also inseparable from the contribution of innovative businesses such as smart electric vehicles. The financial report shows that in the second quarter of 2025, the revenue of Xiaomi’s innovative businesses such as smart electric vehicles and AI was 21.3 billion yuan, a year-on-year increase of 233.9%. Among them, the revenue from smart electric vehicles was 20.6 billion yuan, accounting for 17.8% of Xiaomi Group’s total revenue, and the revenue from other related businesses was 600 million yuan. In addition, the gross profit margin of the smart electric vehicles and AI and other innovative business segments in the second quarter was 26.4%; the operating loss was 300 million yuan, a significant narrowing compared with before.
The growth of Xiaomi Group’s automobile-related business mainly comes from the currently on-sale models of Xiaomi Auto. Official data shows that Xiaomi Auto delivered a total of 81,302 new cars in the second quarter. At present, Xiaomi Auto has laid out two models: Xiaomi SU7 and Xiaomi YU7. Among them, the Xiaomi SU7 is Xiaomi Auto’s first model, which was launched in March 2024, with a current price range of 215,900 – 299,900 yuan; the Xiaomi YU7 is the second model under Xiaomi Auto and also the first SUV, which was launched on June 26 and delivered on July 6. The new car has launched 3 models with a price range of 253,500 – 329,900 yuan. According to the data released by Xiaomi Auto, 200,000 units of Xiaomi YU7 were pre-ordered within 3 minutes of its launch, and 248,000 units were locked in 18 hours, receiving a warm market response, surpassing the popularity of the first model Xiaomi SU7, which also shows consumers’ recognition of Xiaomi YU7 to some extent.
At the previous first-quarter earnings call, Lu Weibing, partner and president of Xiaomi Group, said: “It has been a long time since the SU7 was released, but there has not been a single model that can be a rival to the SU7; there is no one that can compete with it. Only strong product strength can make it have no rivals, and having no rivals can ensure profit margins.” This indirectly shows the absolute confidence in the product strength and market position of the Xiaomi SU7. With the launch of Xiaomi YU7 in July this year, Lu Weibing showed even greater confidence.
At this second-quarter earnings call, Lu Weibing pointed out that he is confident of completing the annual delivery target of 350,000 Xiaomi Auto vehicles, and it is expected that a single-quarter profit can be achieved in the second half of this year. It is understood that Lei Jun conducted a New Year’s Eve live broadcast at the Xiaomi Auto factory on the last day of 2024, and set a target of delivering 300,000 new cars in 2025 during the live broadcast. Later, at the annual financial report meeting, Lei Jun raised this target to 350,000 units.
Retail sales data shows that as of the end of July, the cumulative sales volume of Xiaomi Auto in the first seven months of this year was 188,378 units, among which the cumulative sales volume of Xiaomi SU7 was 180,102 units. Based on the annual sales target of 350,000 units, the target completion rate of Xiaomi Auto in the first seven months was 53.82%. With the launch and delivery of YU7, the market performance of Xiaomi Auto in 2025 is highly anticipated.
