Xiaomi Auto Achieves Profitability in First Year with Revenue Exceeding 100 Billion

[Financial Highlights] Xiaomi Group reported revenue of RMB 457.3 billion and net profit of RMB 39.2 billion for 2025, both reaching record highs.

Core Development: Xiaomi Auto Achieves 100-Billion-Yuan Revenue and Annual Profitability Within Two Years

Xiaomi Auto generated RMB 106.1 billion in revenue in 2025, a year-over-year increase of 223.8%, delivered 411,082 vehicles, and turned its operating profit positive at RMB 900 million.

Key Metrics: Gross Profit Per Vehicle Exceeds RMB 60,000, Gross Margin Reaches 24.3%

The smart electric vehicle segment achieved a blended gross margin of 24.3%, implying an estimated gross profit per vehicle of approximately RMB 61,100. Despite net profit being diluted by R&D and marketing expenses, the business still achieved overall profitability.

Industry Impact: Sets New Record for Fastest Profitability Among EV Startups

Xiaomi Auto reached full-year profitability in less than two years from the launch of its first vehicle—significantly faster than rivals like Li Auto, which took eight years—thereby reshaping market expectations around the timeline to profitability in the EV industry.