Xiaomi posts record Q1 revenue

Xiaomi posted a 161% YoY jump in Q1 net profit to RMB 10.9 billion, with revenue climbing 47.4% to a record RMB 111.3 billion. Growth was driven by SU7 EV deliveries, which reached 75,869 units, and a 58.7% rise in IoT and lifestyle product revenue. Adjusted net profit hit RMB 10.7 billion, up 64.5% YoY.