Q3 2020 Key Financial Highlights
- Net revenues for the third quarter of 2020 were CNY 72.2 billion (USD 11.0 billion), an increase of 34.5% from the third quarter of 2019
- Gross profit for the third quarter of 2020 were CNY 10.2 billion (USD 1.6 billion), an increase of 23.4% from the third quarter of 2019
- Operating profit for the third quarter of 2020 were CNY 6.7 billion (USD 1.0 billion), an increase of 115.1% from the third quarter of 2019
- Profit before income tax for the third quarter of 2020 were CNY 5.5 billion (USD 0.8 billion), an increase of 65.4% from the third quarter of 2019
- Profit for the period for the third quarter of 2020 were CNY 4.9 billion (USD 0.7 billion), an increase of 91.3% from the third quarter of 2019
- Adjusted Net Profit for the third quarter of 2020 were CNY 4.1 billion (USD 0.6 billion), an increase of 18.9% from the third quarter of 2019
Comments from the Q3 2020 earnings call by the Founder, CEO and President of Xiaomi Mr. Lei Jun:
“This quarter, we delivered another -- a very solid result across all our business segments as we relentlessly focused on the execution of our core strategies. In this quarter, we posted historical highs in both revenue of CNY 72.2 billion and adjusted net profit of CNY 4.1 billion up 34.5% and 18.9% year-over-year, respectively.
Our commitment to our core strategy of Smartphone×AIoT continue to underpin our robust performance. I am very pleased to share that our global smartphone shipments rose to number three in the third quarter of 2020, first time since 2014, actually is a record high market share is about 13.5%. That is a record high in Xiaomi history.
We continue to execute our dual brand strategy driving our success in the premium smartphone market, supported by our well received two premium smartphone models, including Mi 10 series. We sold more than 8 million premium smartphones as of October 31st, 2020, driven by a higher percentage of sales from our premium smartphone models, our smartphone ASP maintain an upward trend year-over-year, especially in Mainland China”
Nordic Asia – Xiaomi Deep Dive Webinar Invitation
Nordic Asia is cordially inviting Nordic Professional Investors to a presentation of Xiaomi, one of the world’s most successful smartphone brands.
- What is Xiaomi?
- What is Xiaomi’s Business Strategy and Busines Model?
- What makes Xiaomi unique?
- Xiaomi Financial Analysis and Q3 2020 report highlights
Please click HERE to see the full agenda and to RSVP to the Webinar.