Red Star capital Bureau reported on May 19 that Xiaomi group (01810. HK) released the first quarter financial report of 2022.
According to the financial report, the total revenue of Xiaomi in the first quarter reached 73.4 billion yuan, a year-on-year decrease of 4.6%; The loss during the period was 530 million yuan, with a profit of 7.789 billion yuan in the same period last year, and the adjusted net profit reached 2.9 billion yuan, a year-on-year decrease of 52.9%.
In the first quarter of 2022, the overseas market revenue of Xiaomi group reached 37.5 billion yuan, accounting for 51.1% of the total revenueP align = “center” Xiaomi mobile phone shipments fell 22% year-on-year p align = “center” average selling price increased
From the perspective of main business, Xiaomi’s smartphone business revenue was 45.8 billion yuan, a month on month decrease of 9.3%, and the global smartphone market shipment was 38.5 million units, a month on month decrease of 12.7% and a year-on-year decrease of 22.1%. Xiaomi said in its financial report that it was mainly caused by the continuous shortage of core parts supply, the repeated covid-19 epidemic and the global macroeconomic environment
In addition, Xiaomi’s smartphone gross profit margin also decreased, from 12.9% in the first quarter of 2021 to 9.9% in the first quarter of 2022. Xiaomi explained that it was mainly due to the promotion of several smartphone models.
Red Star capital Bureau noted that behind the decline in Millet shipments, the overall mobile phone market shipments showed a downward trend in the first quarter of this year.
According to canalys data quoted by Xiaomi in its financial report, in the first quarter of 2022, the shipments of smart phone market in Chinese Mainland fell by 18.2% year-on-year, and the shipments of global smart phone market fell by 10.5% year-on-year
On May 6, the research institute strategy analytics released the report on China’s smartphone shipments in the first quarter of 2022. It shows that the shipment volume of oppo (including one plus) is 13.6 million; Glory shipped 13.5 million units; The shipment volume of vivo is 13 million; Apple shipped 11.2 million units and Xiaomi 11 million units.
However, the average selling price of Xiaomi’s global smart machine (ASP) increased by 14.1% to RMB 1189. The global shipment of high-end smart phones (priced at 3000 yuan or more in Chinese Mainland and 300 euros or more abroad) is nearly 4millionP align = “center” other businesses increased p align = “center” electric vehicles invested 425 million
In other businesses, the income of IOT and consumer products was 19.5 billion yuan, a year-on-year increase of 6.8%. The gross profit margin of the Department increased from 14.5% in the first quarter of 2021 to 15.6% in the first quarter of 2022, mainly due to the decline in the prices of core components such as display panels.
Xiaomi’s Internet service revenue was 7.1 billion yuan, a year-on-year increase of 8.2%; Advertising revenue was 4.5 billion yuan, a year-on-year increase of 16.2%; Game business revenue was 1.1 billion yuan, a year-on-year increase of 3.0%; Overseas Internet business revenue was 1.6 billion yuan, a year-on-year increase of 71.1%, accounting for 21.9% of the overall Internet service revenue.
Xiaomi also mentioned that the cost of innovative businesses such as intelligent electric vehicles in the first quarter was 425 million yuan.
Wang Xiang, President of Xiaomi, said that the epidemic had led to the closure of many stores, which had a great impact on purchase desire. It is a fact that the current epidemic has brought difficulties to Xiaomi’s performance. However, the epidemic will pass, and Xiaomi will continue to invest in key areas to improve operational efficiency.
Red Star capital Bureau noted that as of the closing on May 19, Xiaomi closed at HK $11.08/share, down 4.97%, with a total market value of HK $277172 billion.
