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On November 18, Xiaomi Corporation unveiled its financial results for the third quarter of 2025. During the earnings conference call, Lu Weibing, who serves as both a Partner and the President of Xiaomi Corporation, disclosed that Xiaomi's pioneering ventures, encompassing smart electric vehicles and artificial intelligence (AI), have attained quarterly profitability for the inaugural time in this quarter. The Average Selling Price (ASP) has demonstrated robust performance, and the gross margin has maintained a stable level, a trend that is projected to persist into the fourth quarter. Simultaneously, he pointed out that the automotive sector will confront substantial hurdles in 2026. With the halving of purchase - tax subsidies set to heighten competition, there is a possibility that Xiaomi's auto business gross margin will experience a decline in the upcoming year.
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