Xiaomi Corp Class B

01810: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$37.40	Tdl	Jwjcbrnm

Xiaomi Earnings: Margin Improvement Drives Profit Upside Surprise; Valuation Increased

Dan Baker

Aug 30, 2023

The highlight of Xiaomi’s second-quarter 2023 result was a record gross profit margin and large underlying operating cost reductions which more than offset continued revenue weakness in the smartphone market. Second-quarter gross profit margin of 21% was up 420 basis points year on year and 150 basis points sequentially.

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