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Xiaomi Group unveiled its financial results for the first quarter of 2026, revealing that revenue from its innovative sectors, including smart electric vehicles (EVs) and artificial intelligence (AI), surged to RMB 19.9 billion for the quarter, representing a 6.9% year-on-year (YoY) growth. Specifically, the smart EV business contributed RMB 19 billion, while other related ventures accounted for RMB 900 million.
The gross profit margin for this business segment stood at 20.1%, influenced by factors such as vehicle purchase tax incentives and escalating costs of core components. Despite this, the operating loss for the first quarter amounted to RMB 3.1 billion. Furthermore, Xiaomi achieved a total of 80,856 new vehicle deliveries in the first quarter, reflecting a 6.6% YoY increase.
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