Millet First Half Earnings: Total Revenue 95 Billion 700 Million Net Profit 5 Billion 720 Million

Xiaomi group has just released its Q2 quarterly and first half earnings report in 2019. In the first half of 2019, the total revenue of millet company was 95 billion 710 million yuan, up 20.2% compared to the same period last year. Net profit after adjustment was 5 billion 720 million yuan, an increase of 49.8% over the same period last year. Xiaomi earned 52 billion yuan in the second quarter, an increase of 15% over the same period last year, with a net profit of 3 billion 640 million yuan after adjustment and a net profit of 2 billion 510 million yuan attributable to shareholders.

In the first half of 2019, the gross profit margin of millet smartphones in the second quarter increased from 3.3% in the first quarter to 8.1%. Smartphone business revenue reached RMB 59 billion yuan, an increase of 9.8% over the same period, and the global shipments were about 60 million.

In the second quarter of 2019, the revenue of smartphone segment increased by 5% over the same period last year, reaching 32 billion yuan and 32 million 100 thousand shipments. Among them, smartphone sales account for 32.3% of total smartphone revenue, which costs more than 2000 yuan.

As of June 30th, the number of IoT devices connected to millet IoT platform (excluding smart phones and laptops) reached about 196 million units, an increase of 69.5% over the same period last year. In the second quarter, IoT and consumer product segments earned 14 billion 900 million yuan, an increase of 44% over the same period last year. In the second quarter of 2019, the global shipments of millet TV were 2 million 700 thousand, an increase of 41.1% over the same period last year.

In the first half of 2019, the Internet service revenue of millet reached RMB 8 billion 800 million yuan, an increase of 22.9% over the same period last year. In the second quarter, Internet revenue reached RMB 4 billion 600 million yuan. As of June 30, 2019, the world's MIUI monthly live users reached 279 million.

During the reporting period, the income of new Internet services, including IoT (TV) Internet services, overseas Internet services, e-commerce and Internet financial services, expanded by 108.8% over the second quarter, accounting for 36% of total Internet revenue. In the first half of 2019, the GMV of the product's electricity supplier reached RMB 3 billion 800 million, an increase of 113.9% over the same period last year.

In the first half of 2019, the overseas market revenue of RMB was 38 billion 600 million yuan, an increase of 33.8% over the previous year, accounting for more than 40% of the total revenue. According to Canalys data, in the second quarter of 2019, millet smart phone shipments ranked the top five in the smartphone market of more than 40 countries and regions in the world.

In the second quarter of 2019, shipments of millet smartphones in Western European markets increased by 53.2% over the same period last year, and shipments in the market ranked fourth. The overall growth rate remained the champion in the main manufacturers, and the market share in Spain's non carrier channels reached second. India market, as of the second quarter of 2019, millet in India smart phone market has been 8 consecutive quarters, to maintain the first shipment volume.

Millet Group founder, chairman and CEO Lei Jun said that in the first half of 2019, although the business environment is full of challenges, Millet's business has achieved good results and achieved a series of key breakthroughs. With the continuous improvement of overall profitability and ample cash reserves, Xiaomi will be able to keep a clear and relaxed layout for 5G and AIoT's huge market opportunities. It has sufficient capacity to increase R & D investment and expand investment to grasp market opportunities.