Xiaomi Corporation 2020 Annual Results

Hello everyone, I'm Wangxiang, President of Xiaomi. Spring is a time for renewal and optimism. In this spring, I'd like to report to you the achievements of Xiaomi Corporation in 2020. Last year, our total revenue reached RMB 245.9 billion, and our adjusted net profit was 13 billion. In the first quarter of 2020, our adjusted net profit was 3.2 billion. We delivered a set of resilient results despite the pandemic. They were the result of all hard work by my colleagues and the support from Mi fans around the world. Our smartphone business saw robust growth, with global smartphone shipments reaching 146 million in 2020, outpacing our major global peers. At the same time, our AIoT business continued to provide seamless support to millions of families both during the course of a pandemic and as they started to resume work. At the end of 2020, the number of connected IoT devices reached 325 million units. Our business model has gained increasing recognition worldwide. We are thrilled to bring a better life through innovative technology to our friends in more than 100 countries and regions around the world. Last year, we achieved solid growth across all business segments as we are committed to our smartphone multiplied by AIoT strategy. Across a suite of performance metrics, we achieved all-time high figures. We firmly believe that our business success is underpinned by technological innovation. Last year, we made notable achievements in various areas including cameras, imaging, fast charging, screen display, and privacy protection. We stay true to our commitment to users and provide them with amazing products and experiences through cutting-edge technologies. Last year, we continued to make remarkable progress in our smartphone business. In the second half of the year, we regained a top three position worldwide, and our market share rapidly increased in mainland China. Firmly adhering to a dual-brand strategy, our smartphone products were highly competitive in both premium and mass markets. Staying committed to bringing premium products to the mass market while making mass market products with high quality, our Redmi brand launched innovative products with ultimate price-to-performance ratio. The Xiaomi brand continued to unveil products reiterating our relentless pursuit of technological excellence, such as our Mi 10 series and Mi 11 premium flagship models. Going forward, we will continue to explore and keep moving forward. Please stay tuned as we will unveil another cutting-edge product on March 29th. Over the past year, we have brought a smarter living experience to our fans worldwide. Revenue from our IoT and lifestyle products achieved steady growth, and our IoT products were now available in more than 80 countries and regions around the world. Our smart TV held its leading position in mainland China and was ranked number five globally, maintaining a strong position in the industry. We continue to step up our investment in technology, enabling our AI system to be a smart butler with more advanced features. We have also strengthened the interconnectivity across our smartphone and IoT products, making life and work more intelligent and convenient.

After a year of unprecedented challenges, we have become the master of our own destiny. I'd like to extend my heartfelt thanks to our valued Mi fans for all of your love and support throughout the exceptional 2020. Xiaomi will spare no effort to deliver amazing products and performance, and look forward to building a better tomorrow with you.