Text/ Yang Song Editor / Han Lu
On March 22, Xiaomi Group released its financial report for the fourth quarter and full year of 2021.
According to the financial report, Xiaomi's total revenue reached 328.3 billion yuan in 2021, an increase of 33.5% year-on-year; adjusted net profit reached 22 billion yuan, an increase of 69.5% year-on-year.
In the fourth quarter of 2021, Xiaomi's total revenue reached 85.6 billion yuan, an increase of 21.4% year-on-year; adjusted net profit reached 4.5 billion yuan, an increase of 39.6% year-on-year.
In terms of specific business, in 2021, Xiaomi's smartphone revenue reached 208.9 billion yuan, an increase of 37.2% year-on-year, accounting for 63.6% of total revenue; the annual smartphone shipments were 190 million units, an increase of 30.0% year-on-year.
According to Canalys data, in 2021, Xiaomi ranked third in the world in smartphone shipments, with a market share of 14.1%.
The global mobile phone market in 2022 is not optimistic. Strategy Analytics predicts that global smartphone shipments will grow only 1% year-over-year in 2022 and to 3% by 2023.
In terms of growth rate, Xiaomi mobile phones are against the trend, partly because of the market vacated by Huawei mobile phones, but whether it can maintain long-term growth under the competition of many head brands is obviously not easy.
In the fourth quarter of 2021, xiaomi mobile phone sales growth slowed down, its smartphone business revenue was 50.5 billion yuan, an increase of 18.4% year-on-year, shipments of 44.1 million units, an increase of only 4.4% year-on-year, barely the same as the growth rate in the third quarter, far lower than the second quarter of 86.8%. However, for Xiaomi investors, it is more important to pay attention to the progress of Xiaomi cars. In the past year, China's new energy vehicle sales reached 3.5 million units, an increase of 157.5% year-on-year, and the market growth rate far exceeded that of the mobile phone industry.
On March 30, 2021, Xiaomi founder Lei Jun officially confirmed xiaomi's car, claiming that he was "the last to start a business".
Five months later, Xiaomi announced that it would acquire DeepMotion, an autonomous driving technology company, at a cost of $77.37 million (about 500 million yuan).
Xiaomi Auto employees are also expanding rapidly. The third quarter financial report shows that the automobile business employs more than 500 people. In the latest financial report, the size of the R&D team alone has exceeded 1,000 people. Xiaomi expects that the car will be officially mass-produced in the first half of 2024.
However, within a year after the official announcement of Xiaomi's car manufacturing, the company's market value has been nearly cut.
If calculated based on the opening price of HK$26.25 per share on March 31, 2021, as of the close of trading on March 22 this year, Xiaomi's stock price fell to HK$14.20 per share, and the market value evaporated by about HK$300 billion, and Lei Jun's personal wealth was seriously reduced.
According to the Bloomberg Billionaires Index, as of now, Lei Jun is worth $12.4 billion, ranking 163rd on the world's richest list. Looking at the trend of the past year, Lei Jun's value has shrunk by 26.9%.
After the financial report was issued, Xiaomi announced that the company would buy back shares in the open market at a maximum total of HK$10 billion from time to time.