Futu News on August 20, XIAOMI released the 2019 Q2 and interim results report after today's Hong Kong stock market. The financial report shows that:

The revenue of Q2 in 2019 was 51.95 billion yuan, up 14.8 percent from the same period last year; the adjusted net profit was 3.63 billion yuan, up 71.7 percent from the same period last year; and the gross profit margin increased to 14.0 percent from 12.5 percent in the same period last year.

As of June 30, 2019, the total cash reserve has reached 51.1 billion yuan. The "Mobile + AIoT" twin-engine strategy launched at the beginning of the year has achieved results, the user base is expanding and the number of devices connected to the platform continues to grow.

In June 2019, the number of MIUI monthly active users reached 278.7 million, an increase of 34.7% over the same period last year. As of June 30, 2019, the number of IoT devices (excluding smartphones and laptops) connected to the IoT platform reached about 19.6 million, an increase of 69.5% over the same period last year. In addition, the number of monthly active users of artificial intelligence assistant "Xiao Ai" reached 49.9 million in June 2019, an increase of 88.3% over the same period last year.

In terms of business:

1.Smartphone divisionRevenue rose 5.0 per cent from 30.5 billion yuan in the second quarter of 2018 to 32 billion yuan in the second quarter of 2019, due to an increase in the average selling price of smartphones. About 32.1 million smartphones were sold in the second quarter of 2019, compared with about 32.0 million in the second quarter of 2018.

The average selling price of a smartphone was 998.7 yuan in the second quarter of 2019, compared with 952.3 yuan in the second quarter of 2018. The increase in average selling price is mainly due to the continuous optimization of product mix.

two。IoT and Consumer products DivisionRevenue rose 44.0% from 10.4 billion yuan in the second quarter of 2018 to 14.9 billion yuan in the second quarter of 2019, mainly due to the rapid growth in demand for other IoT products such as smart TVs, air conditioners and XIAOMI bracelets, Mijia electric scooters and XIAOMI water purifiers.

Revenue from smart TVs and laptops increased by 30.6% from 4.2 billion yuan in the second quarter of 2018 to 5.5 billion yuan in the second quarter of 2019.

3.Internet Services DivisionRevenue rose 15.7% from 4 billion yuan in the second quarter of 2018 to 4.6 billion yuan in the second quarter of 2019, mainly due to the growth of other Internet value-added services.

The number of monthly active users of MIUI increased from 206.9 million in June 2018 to 278.7 million in June 2019.

4.Other incomeThe increase from 397.4 million yuan in the second quarter of 2018 to 405.2 million yuan in the second quarter of 2019 is mainly due to the increase in revenue from foreign insurance services and the increase in sales of materials as a result of the increase in hardware sales.

Previously, analysts' forecasts for the overall performance of XIAOMI's Q2 are as follows:

• Pacific Ocean:Q2's revenue side rose 13% year-on-year to 51.1 billion yuan, while the profit side expects Q2's adjusted profit to grow 32% year-on-year to 2.8 billion yuan, taking into account the adjustment of VAT rates.

• Xingye:The income is 50.5 billion yuan and the adjusted profit is 2.7 billion yuan.

• Bloomberg unanimously predictedThe income is 52.1 billion yuan and the adjusted net profit is 2.8 billion yuan.

Attached:

XIAOMI Q2 performance original text

A picture to understand XIAOMI's performance in the first half of 2019: steady revenue growth and profit much higher than expected