小米集团2023年第三季度业绩公布

XiaomiCorporation

Q32023ResultsAnnouncement

2

Disclaimer

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.

ThispresentationandtheinformationcontainedhereindoesnotconstituteorformpartofanyofferforsaleorsubscriptionoforsolicitationorinvitationofanyoffertobuyorsubscribeforanysecuritiesoftheCompanyoranyofitssubsidiariesoraffiliatesinanyjurisdiction.ThesecuritiesoftheCompanyhavenotbeenandwillnotberegisteredundertheU.S.SecuritiesActof1933,asamended(the"SecuritiesAct"),andmaynotbeoffered,soldordeliveredwithintheUnitedStatesortoU.S.personsabsentfromregistrationunderoranapplicableexemptionfromtheregistrationrequirementsoftheUnitedStatessecuritieslaws.

Inaddition,certaininformationrelatedtoothercompaniesandmarketingeneralpresentedinthispresentationhasbeenobtainedfrompubliclyavailableinformation.TheaccuracyandappropriatenessofthatinformationhasnotbeenverifiedbytheCompanyandcannotbeguaranteed.

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

GrossProfitMargin

%

22.7%

6.1pptYoY

Cash

Resources3

RMB

127.6billion35.4%YoY

Q32023OverallFinancialHighlights

Revenue

RMB

70.9billion

0.6%YoY

RMB

6.0billion

182.9%YoY

IncludingexpensesrelatedtosmartEVandothernewinitiatives2

RMB1.7billion

AdjustedNetProfit1

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

2ExpensesrelatedtosmartEVandothernewinitiativesexcludeshare-basedcompensationexpensesrelatedtosmartEVandothernewinitiativesofRMB0.2billion

3Includingbutnotlimitedto(i)cashandcashequivalents,(ii)restrictedcash,(iii)short-termbankdeposits,(iv)short-terminvestmentsmeasuredatfairvaluethroughprofitorloss,(v)short-terminvestments3

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

AIoT

698.9million

AIoTConnectedDevices225.2%YoY

13.7million

Userswith5orMore

ConnectedDevices2

26.0%YoY

623.1million

GlobalMIUIMAU3

10.5%YoY

151.9million

MainlandChinaMIUIMAU37.4%YoY

InternetServices

Q32023OverallBusinessHighlights

#3

Global

MarketShareRanking1

14.1%

GlobalMarketShare1

55markets

RankedTop31

65markets

RankedTop51

Smartphones

1

2

3

AccordingtoCanalys,byshipmentsinQ32023

AsofSeptember30,2023,excludingsmartphones,tabletsandlaptops

InSeptember2023

4

StrategyUpgrade

6

Xiaomi’sGoalfortheNextDecadeandTechnologyPhilosophy

GoalfortheNextDecade2020-2030

Committedtosustainableinvestmentsinfoundationalcoretechnologies,

dedicatedtobecomingaleaderintheevolvingrealmofglobalcutting-edgetechnologies

XiaomiTechnologyPhilosophy

Continuouslyinvestintechnologiesthatwillbenefithumanity

7

StrategyUpgrade:HumanxCarxHome

HumanxCarxHome

Allyourneedsinonesmartecosystem

8

In-CarOS

Developmentofthe

operatingsystemforXiaomiEV

2010

2014

2016

2017

2019

2021

Early2022

Late2023

XiaomiHyperOS:13YearsofExploration

MobileOS

BirthofMIUI

EmbeddedOS

UnifiedIoTdevice

connectionprotocol

IntroductionofXiaomiVela

Self-DevelopedOS

Cross-platformquickapp

frameworkactivated

Pre-developmentof

XiaomiMinaOS

Unifiedsoftwarearchitecture,systemdevelopmentlinesintegrationcompleted

UnveiledXiaomiHyperOS

9

XiaomiHyperOS:aHuman-centricOperatingSystemDesignedforHumanxCarxHomeEcosystem

ComprehensiveRefactoring:

Optimizeperformanceforindividualdevice

Cross-DeviceIntelligentConnectivity:

Createseamlesscrossend-deviceconnections

ProactiveIntelligence:

Serveasanintelligencehubdeliveringintelligentservicestousers

End-to-EndSecurity:

Ensurerobustcross-deviceandsystem-wideprivacyandsecurity

OpenPlatform:

Fosterecosystemdevelopmentcollaborationwithglobaldevelopers

10

SmartDevicePartners」

HomeIndustryPartners」

IndividualDevelopers」

OpenAccessto

Over200Categories

ExtendConnectivityStandards

FullAccess

IoTOpenPlatform

Open-Source

theVelaSystem

BusinessandFinancial

Highlights

GlobalSmartphone

ShipmentsandMarketShare

60.0

14.0%

50.0

12.0%

40.0

33.3

8.0%

30.0

6.0%

20.0

4.0%

10.0

2.0%

0.0%

Q42022Q12023

GlobalSmartphone

Shipments(MillionUnits)

Q22023Q32023

MarketShare(%)

12.9%

11.3%

30.5

33.2

14.1%

11.2%

41.5

10.0%

-

GlobalSmartphoneShipmentsMarketShareIncreasedfor3ConsecutiveQuarters

Vendor

Q32023Shipments

(MillionUnits)

Q32023MarketShare

YoYShipmentsChanges

Samsung

58.6

19.9%

-8.5%

Apple

50.0

17.0%

-5.5%

Xiaomi

41.5

14.1%

2.4%

OPPO

26.4

9.0%

-7.5%

Transsion

26.0

8.8%

39.5%

Others

92.1

31.2%

-1.1%

Total

294.6

100.0%

-1.1%

Source:Canalys,byshipments12

+2.1%

No.3

14.1%

Global

+1.2%

+0.2%

+0.6%

No.3

17.7%

MiddleEast

No.5

13.6%

MainlandChina

+0.7%

+1.8%

No.314.9%

Southeast

Asia

No.3

18.3%

LatinAmerica

No.2

17.7%

India

No.3

10.7%

Africa

+2.6%

MarketShareIncreasedinAllMajorMarketsGloballyinQ32023

Q32023SmartphoneShipmentsRankingandMarketShare

No.2

23.3%

Europe

+2.1%

MarketShareImprovementComparewithQ22023

Source:Canalys,byshipments

13

Xiaomi14Series:OurNewFlagshipwithEnhancedTechnologiesandXiaomiHyperOS

LaunchedinMainlandChinainOctober2023

SalesVolume6timesofLastSeries1

LeicaSummilux

OpticalLenses

Industry-leadingƒ/1.42-

ƒ/4.0VariableAperture

Capability

World’sFirst

Snapdragon®8Gen3

MobilePlatform

XiaomiHyperOS

UnleashingtheFull

PerformancePotentialof

Xiaomi14Series

XiaomiCeramicGlass

10xHigherDrop

Resistanceand1.25x

HigherScratchResistance

InnovativeAll-AroundLiquidDisplay

Note:SpecificationsbasedonXiaomi14Pro14

1Inthefirstfiveminutesofsaleslaunch

RMB4,000-6,000Smartphone

MarketShare2byWeekinMainlandChina

51.1%

W33W34W35W36W37W38W39W40W41W42W43W44W45

SteadfastExecutionofSmartphonePremiumizationStrategy

IncreasingPositiveRatingsfromOurUsers1

XiaomiMIXFold3

99%+

XiaomiMIXFold2

99%+

Xiaomi14Series

99%+

Xiaomi13Series

99%+

Xiaomi12SUltra

98%+

Xiaomi13Ultra

99%+

SmartphoneMarketShare2

byWeekinMainlandChina

21.9%

W33W34W35W36W37W38W39W40W41W42W43W44W45

1PositivereviewrateonJD.cominonemonthafterproductlaunch.ForXiaomi14Series,thepositivereviewrateonJD.comwascollectedbytheendofNovember19,2023.BasedonratingsfromXiaomiJDself-

operatedflagshipstore

15

2ByunitssoldinmainlandChina,accordingtothird-partydata.W33-W45refertotheweekstartsfromMondayAugust14,2023toMondayNovember06,2023

RecordResultsDuringDouble11ShoppingFestival

CumulativePaidGMVOver

RMB22.4billion1

RegisteredaShopping

FestivalRecordHigh

Xiaomi14

No.1DomesticSmartphoneModelAcross4Platforms2

OfflineRetailStoreGMV

up77%YoY

1Acrossallchannelsandplatforms,From20:00:00October23,2023to23:59:59November11,2023

16

2RMB4,000-6,000No.1domesticsmartphonebrandbysalesvolumeandsalesvalue,from20:00:00October23,2023to23:59:59November11,2023acrossJD.com;No.1domesticsmartphonebrandbysalesvolume,from20:00:00October24,2023to23:59:59November11,2023acrossT;No.1domesticsmartphonebrandbysalesvolumeandsalesvalue,from20:00:00October20,2023to23:59:59

November11,2023acrossDouyin;RMB4,000-6,000No.1domesticsmartphonebrandbysalesvolumeandsalesvalue,from20:00:00October20,2023to23:59:59November11,2023acrossPinduoduo

R&DExpensesRMBBillions

Q32023

R&DExpenses

Up22%YoY

~20

2022R&DExpenses

as%ofNationwideR&D

Expenses1

0.5%+

NumberofGrantedPatentsGlobally2

35,000+

Numberof

R&DEmployees2

53%+

ofTotalEmployees

R&DExpensesRampeduptoRMB5.0billioninQ32023

13.2

9.3

7.5

5.8

3.2

16.0

13.6

2017201820192020202120222023

1

2

Source:NationalBureauofStatistics

AsofSeptember30,2023

17

SalesForecasts

FullyEmbraceAI

AIReal-time

Translation

AISmartpainting

AIImage

Extender&

AIImageSearch

EnhanceUserExperience

AIAssistant

Text-to-Image

Generation

AIInputMethod

AIPortrait

ImproveOperationalEfficiency

IntelligentDecisionSupport

IntelligentCustomerService

Note:Thesefeaturesareavailableforuseafterobtainingeligibilityforthe“XiaomiHyperOSAIBetaTest”ontheXiaomiCommunity.Duringbetatestperiod,itisonlysupportedonXiaomi14series.Specificallyfor“AISmartPainting”,itissupportedonXiaomiPad6Max14,XiaomiPad6ProandXiaomiPad6duringbetatestperiodafterobtainingeligibilityforthe“XiaomiHyperOSAIBetaTest”.Forspecificbetatestrules,pleaserefertothe“XiaomiHyperOSAIBetaTestAnnouncement”

18

19

Q32023RevenueAchievedYoYandQoQGrowth

Revenue

RMBBillions

TotalrevenueRMB70.9billion,up5.3%QoQandachievedYoYgrowth

Smartphonesrevenuegrew13.8%QoQ

IoTandlifestyleproductsrevenuegrew8.5%YoY

Internetservicesrevenuereacheda

recordhigh,grew9.7%YoY

70.9

67.4

7.8

7.4

20.7

22.3

42.5

7.1

19.1

70.5

36.6

41.6

Q32022Q22023Q32023

SmartphonesIoTandlifestyleproducts

InternetservicesOthers

20

GrossProfitMarginsReachedRecordHighs

SmartphoneGrossProfitMargin

%

16.6%

13.3%

11.2%

8.9%

8.2%

Q32022Q42022Q12023Q22023Q32023

IoTGrossProfitMargin

%

17.8%

17.6%

15.7%

14.3%

13.5%

Q32022Q42022Q12023Q22023Q32023

OverallGrossProfitMargin

%

22.7%

21.0%

19.5%

17.2%

16.6%

Q32022Q42022Q12023Q22023Q32023

21

MaintainedDisciplineinManagingOperatingExpenses

OperatingExpenses

RMBBillions

11.9

1.2

0.1

1.4

10.4

9.2

8.0

1.7

11.1

0.2

0.8

10.2

0.2

1.1

0.2

0.2

10.2

9.4

8.6

9.1

Q32022Q42022Q12023Q22023Q32023

Operatingexpenses(excludingexpensesrelatedtosmartEVandothernewinitiatives)

ExpensesrelatedtosmartEVandothernewinitiativesexcludingshare-basedcompensation(SBC)expenses

SBCexpensesrelatedtosmartEVandothernewinitiatives

1.4

5.1

3.0%

2.2%

1.1

3.2

0.8

2.1

1.2

1.5

AdjustedNetProfitIncreased182.9%YoY

AdjustedNetProfit1

RMBBillions

8.4%

7.6%

5.4%

1.7

6.0

Q32022Q42022Q12023Q22023Q32023

AdjustedNetProfit1

ExpensesrelatedtosmartEVandothernewinitiatives2

AdjustedNetProfit1Margin

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

2ExpensesrelatedtosmartEVandothernewinitiativesexcludeshare-basedcompensationexpensesrelatedtosmartEVandothernewinitiatives

22

(2.9)(3.5)(3.7)(3.3)(2.7)

LowestInventoryLevelsin11Quarters

LeveragingOurComprehensiveManagementSystem

Inventory

RMBBillions

53.0

50.4

9.0

38.5

7.3

7.7

7.4

27.3

22.0

19.3

16.9

11.4

42.6

36.8

19.6

28.7

22.7

12.8

17.1

8.1

Q32022Q42022Q12023Q22023Q32023

RawmaterialsFinishedgoodsOthers1Provisionforimpairment

1Includingworkinprogress,spareparts,andothers

23

RecordHighCashPosition

CashResources1

RMBBillions

Ourcashresourceswereover

RMB127.6billion

127.6

113.2

94.6

Q12023Q22023Q32023

1Includingbutnotlimitedto(i)cashandcashequivalents,(ii)restrictedcash,(iii)short-termbankdeposits,(iv)short-terminvestmentsmeasuredatfairvaluethroughprofitorloss,(v)short-terminvestments24

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

ESG

CarbonNeutrality

By2040

Achievecarbonneutralityinour

ownoperationsofourexisting

businesses1

100%renewableenergy

CarbonNeutralizationActionReportbytheendof2023

World’sBestEmployer

Recognizedonthe

2023WORLD’SBESTEMPLOYERS

ListbyForbes

Onthelistfor

3consecutiveyears

FullyIntegratedESGManagementintoOurBusinessOperations

OpportunitiesinCleanTech

ElectronicWaste

Privacy&

DataSecurity

ESGRatings

ScoreImprovedfromboth

MSCI&Sustainalytics

DataPrivacyandSecurity

HumanRights-SupplyChain

Carbon-Own

Operations

1Basedonourlatestearningsannouncement,ourexistingbusinessesincludesmartphones,IoTandlifestyleproducts,internetservices,andothers

26

GivingbacktoOurSociety

Talent

Development

TechnologyInnovation

Povertyand

DisasterRelief

CumulativeDonationofRMB156million1

XiaomiScholarshipsProgram

Covered60Collegesand

Universities1

XiaomiInnovationJointFund

CumulativeDonationof

RMB108millionand74Scientific

Projects1

1ByBeijingXiaomiFoundation,asofOctober2023

27

Smartphones

29

SmartphoneShipmentsExceeded41millionUnitsinQ32023AchievedBothYoYandQoQGrowth

InQ32023,smartphonesrevenuewas

RMB41.6billion

Smartphoneshipmentswere41.8millionunits,rose27%QoQ

Grossprofitmarginreached16.6%,

registeredarecordhigh

SmartphonesRevenue

RMBBillions

41.6

42.5

36.6

Q32022Q22023Q32023

MainlandChinaSmartphoneShipmentsRankedNo.5inQ32023

Vendor

Q32023Shipments

(MillionUnits)

Q32023MarketShare

YoYShipmentsChanges

HONOR

11.8

17.7%

-1.0%

OPPO

10.9

16.4%

-9.7%

Apple

10.6

15.9%

-5.8%

vivo

10.4

15.6%

-26.0%

Xiaomi

9.1

13.6%

0.4%

Others

13.9

20.8%

21.3%

Total

66.7

100.0%

-4.5%

Source:Canalys,byshipments30

RedmiNote13Series:FlagshipExperienceforMassMarket

LaunchedinMainlandChinainSeptember2023

Camera

200MPSamsung

ISOCELLHP3Sensor

XiaomiImaging

Mastermind

Display

1.5KFHD+AMOLED1,800nitPeak

Brightness

CorningGorilla

GlassVictus

Charging

5,000mAh

Battery120W

Fast-charging

RedmixAAPE

LimitedEdition

SalesVolumeExceeded410,000Units

intheFirstHourofSalesLaunch

Note:SpecificationsbasedonRedmiNote13ProandonRedmiNote13Pro+31

ReinforceGlobalPresence

LatinAmerica

SmartphoneshipmentsQ32023

43%

Q32022Q32023

Africa

SmartphoneshipmentsQ32023

100%

Q32022Q32023

MiddleEast

SmartphoneshipmentsQ32023

20%

Q32022Q32023

Source:Canalys,byshipments32

AIoT

GlobalLeadingConsumerAIoTPlatform

NumberofConnectedDevices1Millions

698.9

654.5

618.0

589.4

558.3

Q32022Q42022Q12023Q22023Q32023

Userswith5orMoreDevicesConnectedtoXiaomi’sAIoTPlatform1

Millions

13.7

13.0

12.3

11.6

10.9

Q32022Q42022Q12023Q22023Q32023

MiHomeAppMAU

Millions

84.0

78.1

75.8

72.4

Q32022Q42022Q12023Q22023Q32023

82.9

1Excludingsmartphones,tabletsandlaptops34

35

ResilientIoTandLifestyleProductsRevenue

IoTandLifestyleProductsRevenueRMBBillions

InQ32023,IoTandlifestyleproducts

revenuereachedRMB20.7billion,up

8.5%YoY

Grossprofitmarginreached17.8%,

registeredarecordhigh

22.3

20.7

19.1

Q32022Q22023Q32023

SmartTV:No.1TVShipmentsinMainlandChinainQ32023

No.1TVShipments

inMainlandChinainQ320231

GlobalSmartTVShipments

Reached2.7millioninQ32023

RankedTop5Globally1

1AccordingtoAVC,byshipmentsinQ32023

36

37

WashingMachines

SmartLargeHomeAppliances:MomentumContinued

Air

Conditioners

Refrigerators

Thenumberofairconditioner

shipmentsbytheendofQ32023

exceeded2022fullyearlevel

Refrigeratorshipmentsreachedarecord

highofover670kunitsinQ32023,up

95%YoY

Washingmachineshipmentsexceeded

310k