Xiaomi Auto Q3 Revenue Hits ¥28.3B, Up 197.9%

Xiaomi posted 113.1B yuan in Q3 revenue, up 22.3% year-on-year with its fourth straight 100B-yuan quarter.

On November 18, Xiaomi Group officially released its financial results announcement for the third quarter of 2025.

The data shows that Xiaomi Group’s total revenue for the third quarter of this year reached 113.1 billion yuan, exceeding 100 billion yuan for the fourth consecutive quarter, with a year-on-year increase of 22.3%. The adjusted net profit was 11.3 billion yuan, up 80.9% year-on-year. R&D investment reached 9.1 billion yuan, an increase of 52.1% year-on-year, with full-year investment expected to exceed 30 billion yuan.

As of September 30, 2025, the total number of employees in Xiaomi Group’s R&D team was 24,871.

A financial report from Xiaomi Corporation detailing their third quarter results for 2025, including revenue, profits, and R&D investments, presented in both Chinese and English. — Xiaomi Group’s 2025 Q3 Financial Report

Now, let’s focus on the data from innovative businesses such as smart electric vehicles and AI.

The financial report shows that revenue from innovative businesses, including smart electric vehicles and AI, increased to 29 billion yuan from 9.7 billion yuan in the third quarter of 2024, a year-on-year growth of 199.2%, achieving a quarterly operating profit for the first time.

Among these, revenue from smart electric vehicles increased to 28.3 billion yuan from 9.5 billion yuan in the third quarter of 2024, a year-on-year growth of 197.9%, benefiting from both increased vehicle deliveries and higher ASP. Data shows that Xiaomi Group delivered a total of 108,796 new vehicles in the third quarter of 2025, with the average transaction price per vehicle rising to 260,053 yuan, compared to 238,650 yuan in the same period of 2024.

In terms of gross margin, the gross margin for the related business increased to 25.5% from 17.1% in the same period of 2024. This was driven by lower costs of core components, reduced unit manufacturing costs, and the start of deliveries of the Xiaomi SU7 Ultra in March this year.

As of September 30, 2025, Xiaomi Auto had opened 402 car sales stores in 119 cities and established 209 service outlets covering 125 cities in mainland China.

A promotional image for the Xiaomi HAD Enhanced version, featuring a sleek pink electric vehicle with a futuristic design, set against an urban backdrop. The image includes Chinese text announcing a launch event at the Guangzhou Auto Show on November 21 at 9:00 AM. — Xiaomi HAD Enhanced Version to Be Released Soon.

It is worth mentioning that Xiaomi Auto officially announced that it will launch the Enhanced HAD at the 2025 Guangzhou Auto Show, which opens this weekend. This marks another major update following the last upgrade in late July.