<div id="readability-page-1" class="page"><span> <p>AASTOCKS Financial News</p> </span> </div>

Xiaomi's Q1 earnings are in — total revenue of RMB 99.1bn came in line with estimates, smartphone shipments held at 33.8mn units (maintaining a top-3 global ranking), and new EV deliveries surpassed 80,000 units (+6.6% YoY). The miss: adjusted net profit of RMB 6.1bn, down 43.1% YoY. The company faces a dual squeeze — rising core component costs and intensifying competition on one side, accelerating R&amp;D and capex into AI and new businesses on the other. Core biz stable, growth intact, but profit is taking a back seat near-term. Is this a 'strategic investment' cycle for long-term growth, or the start of a structural margin compression story? Post-earnings, is Xiaomi's HK stock a buy or time to take profits?

<p>Xiaomi's Q1 earnings are in — total revenue of RMB 99.1bn came in line with estimates, smartphone shipments held at 33.8mn units (maintaining a top-3 global ranking), and new EV deliveries surpassed 80,000 units (+6.6% YoY). The miss: adjusted net profit of RMB 6.1bn, down 43.1% YoY. The company faces a dual squeeze — rising core component costs and intensifying competition on one side, accelerating R&amp;D and capex into AI and new businesses on the other. Core biz stable, growth intact, but profit is taking a back seat near-term. Is this a 'strategic investment' cycle for long-term growth, or the start of a structural margin compression story? Post-earnings, is Xiaomi's HK stock a buy or time to take profits?</p>

*XIAOMI-W 1Q Adj. Net Profit Dives 43.1% YoY to RMB6.072B