---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/43500082.md"
description: "Xiaomi's Q2 2026 revenue rebounded to RMB 108.9bn (+QoQ), though it dipped slightly YoY. Adj. net profit fell to RMB 6.2bn (-YoY), pressured by storage cost hikes squeezing mobile gross margins and increased R&D investment in EVs and AI, reflecting transitional pains from proactive strategic investments. High-end smartphone penetration continues, with ASP hitting record highs as the product mix optimizes; EV deliveries maintain steady growth, remaining a key growth driver. R&D spending remains elevated, bolstering foundational layouts in large models and smart manufacturing, while the 'human x car x home' ecosystem advances steadily. Short-term margin pressure persists due to cost headwinds, but mid-to-long-term catalysts lie in EV profitability ramp-up and AI-driven hardware monetization. The company is currently trading short-term earnings for long-term upside, warranting close tracking of GPM recovery and the inflection point for EV profitability."
datetime: "2026-08-20T01:43:45.000Z"
locales:
  - [en](https://longbridge.com/en/topics/43500082.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/43500082.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/43500082.md)
author: "[Jason砥砺前行](https://longbridge.com/en/profiles/11760987.md)"
generator: "portal-rs"
---

# Xiaomi's Q2 2026 revenue rebounded to RMB 108.9bn …


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**