VerityRank
Xiaomi Corporation
Company VerifiedChina

Xiaomi Corporation

Xiaomi

Xiaomi Corporation is a world-leading consumer IoT platform executing the industry's most ambitious "Human x Car x Home" full-ecosystem strategy, headquartered in Beijing, China and founded in 2010. 2025 was a record-shattering year: revenue surged 25% to RMB 457.28 billion (~$66.4 billion) with adjusted net profit up 43.8% to RMB 39.16 billion. Its smart EV business turned profitable in its first full year (RMB 900 million operating profit) on RMB 106.1 billion revenue and 411,082 vehicles delivered, while smartphones shipped 165.2 million units, holding a global top-three position. Xiaomi employs 51,026 people — including a record 26,048 R&D staff — and its AIoT platform now connects 1.079 billion devices with 754 million monthly active users worldwide.

Strengths: Xiaomi's moat has evolved from ecosystem breadth to elite in-house automated manufacturing: its RMB 2.4 billion, 81,000㎡ Changping "dark factory" runs 100% key-process automation with micron-grade dust control, producing 10 million flagship phones a year — one per second — with zero human intervention, while the Yizhuang EV plant rolls a car off the line every 76 seconds. The "ecosystem investment + platform integration" model (400+ partner companies unified by HyperOS and the Mi Home app) still delivers unmatched product breadth and price-performance, now amplified by booming overseas internet services revenue.

Weaknesses: Q1 2026 exposed component-cycle vulnerability: surging memory chip costs drove revenue down 10.9% year-on-year (to RMB 99.1 billion) with a sharp profit squeeze. The ecosystem model still yields uneven quality control and homogenization in non-core products, and the value-for-money brand legacy continues to resist full premium-market acceptance.
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ChinaFounded 2010~51,026RMB$457 BBeijing Yizhuang EV plant / 100
Listed onHKEX1810
Last updated: November 2026·By VerityRank Research Team·Methodology

Listed market data

1810 · HKEX · weeklyHistory →
Market cap
$92.3 B
Share price
HKD 28.60
1Y change
-35.0%
Recent change
+1.8%

11-02 → 11-03

IPO price
+68.2%

HKD 17.00 · from 2018-07-09

Revenue (TTM)
$38.2 B
Revenue FY 2023 · updated 2026-11-03Source ↗

Financial history

Full market history
HKD 0$0HKD 10$250 BHKD 20$500 BHKD 30$750 BHKD 40$1.0 T2025-122026-012026-022026-032026-042026-052026-062026-072026-082026-092026-102026-11
MonthCloseMarket capChange
  • 2026-11HKD 28.60$92.3 B+7.3%
  • 2026-10HKD 26.66$686 B0.0%
  • 2026-09HKD 26.66$686 B+5.6%
  • 2026-08HKD 25.24$650 B-8.6%
  • 2026-07HKD 27.62$711 B-4.0%
  • 2026-06HKD 28.78$741 B+33.0%
  • 2026-05HKD 21.64$557 B-22.8%
  • 2026-04HKD 28.04$722 B-3.4%
  • 2026-03HKD 29.02$747 B-8.6%
  • 2026-02HKD 31.76$818 B-9.0%
  • 2026-01HKD 34.90$898 B-1.7%
  • 2025-12HKD 35.50$914 B—
Monthly closes · 2025-12 – 2026-11 · Full market history

Ownership & Control

Shareholding as of 2026-06-30
Controlling entity
Publicly held — no controlling shareholder disclosed
Company type
Company
Insiders
20.45%
Institutions
27.15%(529 holders)
Free float
34.13%

Percentages are of total shares outstanding, aggregated from 13F-style filings via Yahoo Finance. Institutional figures reflect US-filed positions and may undercount owners filing elsewhere. No figure is shown where none is disclosed.

In the press

All coverage →5 latest headlines
Headlines aggregated from public feeds. Sentiment tags are keyword-based, not editorial judgement.

Xiaomi Corporation, headquartered in Beijing's Haidian District and listed on the Hong Kong Stock Exchange (1810.HK), has transformed from a budget smartphone maker into a global full-ecosystem hardware group executing a "Human x Car x Home" strategy. Full-year 2025 revenue surged 25% to a record RMB 457.28 billion (~$66.4 billion) with adjusted net profit up 43.8% to RMB 39.16 billion, powered by 51,026 employees including a record 26,048 in R&D.

Company Overview

Smartphones remain the core: Xiaomi shipped 165.2 million units in 2025, defending its global top-three position while premiumization lifted average selling prices. Unlike a typical phone vendor, Xiaomi monetizes its hardware base through services — overseas internet revenue hit record highs and now accounts for more than 30% of total internet income. Its AIoT ecosystem connects 1.079 billion devices with 754 million monthly active users, unified by HyperOS and the Mi Home app across smart home control, cleaning appliances, TVs, wearables and health devices.

Xiaomi's manufacturing strategy is undergoing a historic shift from asset-light ODM reliance toward core heavy-asset in-house production. The RMB 2.4 billion Changping "dark factory" in Beijing delivers 10 million flagship smartphones per year with fully automated key processes, while the dedicated Yizhuang EV super-factory builds smart cars. Domestic reach spans more than 18,000 ecosystem experience stores, complemented by roughly 450 overseas retail hubs across Latin America, Europe and the Middle East.

Core Strengths

The breakout star is the smart EV business: Xiaomi delivered 411,082 vehicles in 2025, generating more than RMB 106.1 billion in revenue (+223.8% year over year) and achieving full-year operating profit — a milestone that briefly pushed the company's market value past $128 billion. The automotive ramp demonstrates Xiaomi's ability to enter a capital-intensive industry and scale faster than incumbents.

R&D is the second pillar: with 25,457 researchers — more than half of all employees — Xiaomi outspends most peers as a share of headcount, sustaining innovation across smartphones, AI, IoT and automotive. The combination of an enormous connected-device install base, aggressive global retail expansion and a newly profitable vehicle line gives Xiaomi multiple compounding growth engines.

Beyond devices, Xiaomi's services flywheel is deepening: internet services revenue reached new records with overseas internet income surpassing 30% of the total, while the HyperOS ecosystem extends from phones to cars, home appliances and wearables. The company's distribution advantage — more than 18,000 experience stores across mainland China plus roughly 450 overseas retail hubs in Latin America, Europe and the Middle East — gives it a rare combination of online and offline reach in emerging markets where smartphone penetration is still rising.

Outlook & Risks

Key headwinds include prolonged tax scrutiny and capital retention disputes in India, where authorities have conducted lengthy reviews, and rising component costs: DRAM and display panel prices climbed steeply through late 2025, pressuring hardware gross margins in subsequent quarters. The automotive business also demands sustained capital expenditure before reaching long-term scale economics.

On balance, Xiaomi enters 2026 with exceptional momentum across phones, IoT and EVs, though margin recovery and regulatory outcomes in key markets will determine whether its re-rating continues. VerityRank Score of 90/100.

Quick Facts

Headquarters

Beijing, China

Founded

2010

Employees

~51,026 (R&D 26,048, record high)

Revenue

RMB$457 B (~$66.4 B, 2025, record, +25%)

Market cap

$92.3 B

Factories

Beijing Yizhuang EV plant (one car every 76 seconds); Changping 81,000㎡ dark smartphone factory (10M flagship units/yr); ecosystem partner network

Presence

Products in 100+ countries; 1.079 billion AIoT connected devices

Listing

HKEX: 1810
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Data Sources & Methodology

This corporate profile is compiled from publicly available sources including company annual reports, SEC/regulatory filings, official press releases, and verified third-party industry databases. Financial figures reflect the most recent fiscal year disclosures and are cross-validated across multiple independent references.

VerityRank Score is calculated using a proprietary multi-dimensional model evaluating market presence, financial strength, operational scale, innovation capacity, and brand influence. Individual dimension scores are normalized against industry peers and updated quarterly.

Disclaimer: This profile is for informational purposes only. VerityRank makes no warranties regarding completeness or timeliness. This content does not constitute investment advice or endorsement.

Key references: Official Website , Xiaomi 2025 Annual Results Announcement
Xiaomi 2025 Annual Report
Xiaomi Fully Autonomous Dark Factory – Metrology News
Xiaomi – Wikipedia

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