Millet Group Profit Growth In The First Quarter Of The Double Growth Of 480 Overseas

Millet group announced its first quarter financial report in 2019, which is the first earnings announcement since millet launched the dual strategy of mobile +AIoT.

According to the report, the total revenue of Xiaomi group in the first quarter was 43 billion 800 million yuan, an increase of 27.2% over the same period last year. Gross profit was 5 billion 216 million yuan, up 21.3% compared to the same period last year; net profit after adjustment was 2 billion 100 million yuan, up 22.4% over the same period last year.

Revenue and profit exceeded expected IoT data performance eye-catching

Overall, Xiaomi group's first quarter revenue and profit exceeded market expectations.

Among them, IoT business and the international market have maintained rapid growth, which is the highlight of the current earnings report.

At the beginning of this year, Xiaomi officially launched the dual engine strategy of mobile +AIoT as the core strategy of the next 5 years. At present, the revenue of mobile phone business and IoT business has accounted for nearly 90% of the total revenue of millet.

From the specific business point of view, the smart phone business accounted for 27 billion of the total revenue this quarter, accounting for 61.7%; the income of IoT and consumer products was 12 billion yuan, accounting for 27.5%; Internet service income was 4 billion 260 million yuan, accounting for 1.1%.

The strategic adjustment of Xiaomi has achieved initial success. Smartphone sales in the first quarter of 2019 reached 27 million 900 thousand units, ranking fourth in the world, and the mainland market share rose three months in a row.

During the reporting period, the IoT data of millet were eye-catching.

The first quarter grew 56.5% year-on-year, and recorded a 12 billion yuan revenue.

The scale of IoT continues to lead the world. The number of IoT devices has reached 1.71 billion, an increase of 70% over the same period last year.

At the same time, the proportion of IoT in the overall business is higher and higher, accounting for 27.5% in the first quarter.

The proportion of mobile phone business in total revenue declined to 6.

Investment section: more than 270 companies have invested, and 10 have successfully listed.

As of March 31, 2019, the group has invested more than 270 companies, with a total book value of 29 billion yuan, up 28.6% over the same period last year.

Since 2018, 10 companies have been listed successfully.

Millet group said that investment not only enables the group to establish close cooperative relations with the invested companies, but also provides continuous investment revenue for the group.

In the first quarter of 2019, net income from disposal investment was RMB 593 million yuan.

Overseas market contributed nearly 40% of revenue overseas millet home authorized 480 stores

Financial reports show that the growth rate of overseas markets is higher than that of millet.

International Income in the first quarter was 16 billion 800 million yuan, which contributed nearly 40% revenue to millet, an increase of 34.7% over the previous year, higher than that of the group's total 27.2%.

India is a successful overseas market for millet.

Xiaomi Mobile has maintained first shipments in India for 7 consecutive quarters, and has maintained first shipments for ten consecutive quarters.

Europe is the key market for millet in 2019.

According to Canalys data, millet ranked fourth in Western Europe shipments in the first quarter, up 115.1% over the same period last year.

As of March 31, 2019, there were 480 authorized outlets in the Xiaomi family, an increase of 93.5% over the same period, of which 79 were in India.

The financial report also revealed that millet is constantly developing new markets, such as Africa and Latin America.

It is reported that millet has signed a cooperation agreement with the African e-commerce platform Jumia, will sell millet products in 14 countries in Africa through Jumia in 2019, and jointly promote the penetration of smart phones in Africa.

Millet Group founder, chairman and CEO Lei Jun said that millet immediately opened the second stage of millet entrepreneurship after IPO, and carried out a series of major upgrading and adjustment in the company's core strategy, organizational management structure, technology research and development system, product brand system and other areas, laying the foundation for the next 5 to 10 years of millet development.

The positive results of these adjustments and upgrading have begun to emerge gradually. In the first quarter of this year, Xiaomi officially launched the new dual engine strategy of mobile +AIoT.

The two brands of Xiaomi and Redmi have been independently operated and launched a series of popular new products. AIoT business has also maintained a significant lead in the industry.

At the same time, following the Chinese region, the systematic adjustment of millet began to spread across the globe in the first quarter.