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  • Xiaomi: Domestic demand rebounded significantly, overseas epidemic situation may drag down next quarter’s performance

    Xiaomi: Domestic demand rebounded significantly, overseas epidemic situation may drag down next quarter’s performance
    Sauna Night News (reporter promised) After May 20th, Xiaomi Group announced the performance of the first quarter of this year on the Hong Kong Stock Exchange.When talking about the impact of the epidemic and its future prospects, Xiaomi pointed out that after the gradual alleviation of the epidemic in Mainland China, the company’s main products sales have returned to pre-epidemic levels at the end of the first quarter.The company cooperates with upstream and downstream enterprises to stabilize production.At present, the supply and return to production in the Chinese market are smooth, the offline passenger flow is gradually recovering, and the demand-side rebound trend is obvious.The financial report shows that the company’s total revenue in the first quarter was 49.7 billion yuan, an annual increase of 13.6%, adjusted net profit reached 2.3 billion yuan, and an annual increase of 10.6%.Xiaomi pointed out that the company’s mobile phone sales in Mainland China have gradually returned to pre-epidemic levels since March 2020, and the volume of smart TVs has also rebounded significantly.However, under the influence of the epidemic, other overseas markets have also adopted different forms of response measures, and Xiaomi expects the company’s second-quarter performance to be affected.For example, India has implemented strict blockade measures since the end of March, during which Xiaomi ‘s sales were affected by obstacles.At the same time, Xiaomi also pointed out that since May, India has lifted restrictions on local production and sales activities in stages. In areas where sales have been opened, consumer demand has shown a rebound trend, similar to the mainland China market.In other overseas markets, the restrictive measures to deal with the epidemic have also shown varying degrees of relaxation, and sales have begun to recover.For example, as of the third week of May, the weekly number of smartphone activations in the European market has reached more than 90% of the average weekly activation volume in January 2020.Xiaomi pointed out that his own decentralized market layout allows the company to quickly implement cross-regional strategic deployment and resource allocation to cope with the impact of the epidemic.Sauna, Ye Wang promised to edit Chen Li proofreading