China Fund News Jiang Right
After Alibaba's epic buyback, there are hong Kong technology stocks that have been repurchased heavily.
On the evening of March 22, Lei Jun's Xiaomi Group released the fourth quarter and annual financial report of 2021, and the xiaomi automobile business that attracted attention was described as exceeding expectations, with a research and development team of more than 1,000 people, and continued to maintain the expected mass production in the first half of 2024.
At the same time, Xiaomi has released a repurchase plan of not more than HK$10 billion.
At the close of trading on March 22, Xiaomi Group's Hong Kong stocks rose 6.13% to close at HK$14.2, with a total market capitalization of HK$354.7 billion. Compared with the issue price of HK$17 when it was listed in 2018, there is still a bit of a gap, and there is still a big gap from Lei Jun's "young people's first doubling stock".
Full-year revenue of RMB328.3 billion, net profit soared 69.5%
According to the financial report, Xiaomi Group's adjusted net profit in the fourth quarter of 2021 was 4.47 billion yuan, an increase of 39.6% year-on-year; the fourth quarter revenue was 85.58 billion yuan, an increase of 21.4% year-on-year; the gross profit margin was 17.1%; of which the smart phone revenue was 50.5 billion yuan; and the Internet service revenue was 7.3 billion yuan.
Xiaomi Group's total revenue in 2021 reached RMB328.3 billion, an increase of 33.5% year-on-year, and adjusted net profit reached RMB22 billion, an increase of 69.5% year-on-year.
Xiaomi Group announced that smartphone revenue for the whole year of 2021 reached RMB208.9 billion, an increase of 37.2% year-on-year; the annual shipment of smartphones was 190 million units, an increase of 30% year-on-year. Smartphone shipments ranked third in the world in 2021, with a market share of 14.1%.
In the high-end market, in 2021, Xiaomi's global shipments of high-end smartphones priced at RMB 3,000 or more in Chinese mainland and 300 euros or more overseas exceeded 24 million units, doubling from the full year of 2020. Among them, the shipment of high-end smartphones priced overseas at 300 euros or more increased by more than 160% year-on-year. Smart TV ASP also grew significantly, driving smart TV revenue by more than 25% year-over-year.
In 2021, Xiaomi's R&D expenditure reached RMB13.2 billion, an increase of 42.3% year-on-year. Since 2017, the compound growth rate has reached 43%, and on the two high-end flagship models of Xiaomi MIX FOLD and Xiaomi 12 Pro, Xiaomi has launched the first self-developed professional imaging chip Xiaomi Surging C1 and the first self-developed charging chip Xiaomi Surging P1. Xiaomi said that in the future, it will unswervingly adhere to the technology-oriented approach, and it is expected that the R&D investment will exceed RMB100 billion in the next five years.
According to the financial report, at present, the global MIUI monthly active users are 510 million, an increase of 28.4% year-on-year, and the Chinese mainland MIUI monthly active users are 130 million, an increase of 17% year-on-year.
The automotive R&D team has exceeded 1,000 people and is expected to continue mass production in the first half of 2024
As a new business of Xiaomi Group in the future, the progress of the automotive business has attracted much market attention.
Xiaomi Group said that since the announcement of the car-making plan in March 2021, Xiaomi's smart electric vehicle business has progressed more than expected. Up to now, the size of the automotive business R&D team has exceeded 1,000 people, and it will continue to expand R&D in core areas such as autonomous driving and intelligent cockpit in the future; it is expected to be officially mass-produced in the first half of 2024.
According to xiaomi, the first phase of xiaomi's auto business investment of 10 billion yuan, is expected to invest 10 billion US dollars in the next 10 years, the company by Lei Jun as CEO, the core members include Wang Xiang, Lu Weibing, Liu De, Hong Feng, Li Xiaoshuang and so on.
Lei Jun said at the time of announcing the car manufacturing that Xiaomi will make every effort to build Xiaomi cars with 108 billion yuan of cash reserves, a research and development team of more than 10,000 people, the world's top three mobile phone businesses, and the world's best intelligent ecology.
Announced a HK$10 billion blockbuster repurchase program
At the same time as releasing the financial report, Xiaomi also released a heavy repurchase plan of HK$10 billion.
Xiaomi Group Corporation, on 22 March 2022, the Board of Directors of the Company formally resolved to exercise the share repurchase authorization to repurchase shares on the open market at an irregular rate of up to HK$10 billion.
Edit: Xiao Mo