August 19, 2025 04:49 PM GMT Xiaomi Corp | Asia Pacific M Update Record Revenue and Earnings in 2Q25; EV Delivery is the Key Stock Price Driver Reaction to earnings Key Takeaways Xiaomi reported 2Q25 adj. net profit of Rmb10.831bn, up 75.4% YoY and 1.5% QoQ: This is the highest quarterly profit in its history, supported by: 1) AIoT: Revenue increased 45% YoY to Rmb38.7bn, 18% higher than our estimate. 2) EV: Revenue increased >2x YoY to Rmb21.3bn, 6% above our forecast. 3) Smartphones: Revenue down 2% YoY t ...