Xiaomi Group's financial report for the first quarter of 2024: Lei Jun spends more and more money

In the first quarter of 2024, Xiaomi Group achieved significant revenue and profit growth. During the reporting period, the company's total revenue reached 75.507 billion yuan, an increase of 27.0% over the same period last year's 59.477 billion yuan. Gross profit increased significantly to 16.83 billion yuan, up 45.2% year on year.

Cash reserve: As of March 31, 2024, the cash reserve was 127.3 billion yuan, up 34.7% year on year.

Although the operating profit decreased to 3.683 billion yuan, a year-on-year decrease of 37.6%, the adjusted net profit doubled to 6.591 billion yuan, a year-on-year increase of 100.8%.

intelligence mobile phone The shipment volume increased by 33.7% year on year, reaching 40.6 million units, ranking among the top three in the global market.

The Middle East ranked second in terms of shipments and its market share increased significantly by 7.1 percentage points year-on-year to 20.9%.
Latin America, Southeast Asia, Africa and other regions ranked third. Their market shares increased by 2.0 percentage points, 4.4 percentage points and 4.5 percentage points respectively year on year, and their market share reached 15.3%, 16.5% and 10.6% respectively.

According to Canalys data, in the first quarter of 2024, we ranked the top three in terms of smartphone shipments in 56 countries and regions, and the top five in terms of smartphone shipments in 67 countries and regions.

The shipment of Xiaomi air-conditioning products exceeded 690000 units, up 63% year on year;
The shipment of refrigerator products exceeded 530000 units, up 52% year on year;
The shipment of washing machines exceeded 360000, up 47% year on year;

The revenue of tablets increased by 70.5% year on year, and the global shipment of tablets increased by 92.6% year on year.

The R&D expenditure in the first quarter of 2024 is 5.2 billion yuan, with a year-on-year growth of 25.4%. The number of R&D personnel reached 17421, accounting for 49.2% of the total number of employees.

As of March 31, 2024, Xiaomi has 35423 full-time employees. 12418 employees hold share based awards. The total compensation expense in the first quarter of 2024 is 5.2 billion yuan.