Traded ValueXiaomi stabilizes and rebounds. Keep pushing.
Xiaomi: The gross margin of its car business is 2.3 times that of its phone business, so why is it the one losing money?
Xiaomi is running two engines. One sells phones and IoT, having operated for over a decade; the other builds cars and does AI, just turning three years old. This quarter, the efficiency ranking of the two engines swapped positions—but the one truly generating profit remains the older one. $XIAOMI-W(01810.HK) Q2 revenue was RMB 108.9bn (-6.1% YoY); adj. net profit was RMB 6.22bn (-42.6% YoY), slightly below market estimates of RMB 6.31bn. Gross margins have inverted for smart EV and AI innovation businesses...
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