<p><img src="https://imageproxy.pbkrs.com/https://cnevpost.com/wp-content/uploads/2026/05/2026052610041746.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cnevpost.com/wp-content/uploads/2026/05/2026052610041746.jpg"/></p><p>2026 年 4 月北京車展上展出的一輛小米 SU7。圖片來源：CnEVPost</p><blockquote>
<ul>
<li>一季度，受產品換代及假期因素拖累，小米汽車業務錄得 31 億元人民幣（約合 4.6 億美元）的運營虧損。</li>
<li>該汽車業務於 2025 年第三季度實現首次單季盈利，並在 2025 全年實現首次年度運營盈利。</li>
</ul>
</blockquote><p>儘管期內交付量穩步增長，小米集團（HKEX: 1810）的汽車（EV）業務在第一季度仍錄得運營淨虧損。</p><p>此次財務受挫主要歸因於中國春節假期的拖累，以及核心 SU7 轎車中期改款過渡期的短期影響，這暫時抑制了該業務的盈利能力。</p><p>根據週二發佈的財務報告，一季度包含汽車及 AI 在內的創新業務錄得 31 億元人民幣（約合 4.6 億美元）的運營虧損。</p><p>在 Telegram 或 Google News 上關注我們</p><p>這與該板塊 2025 年強勁的財務表現形成鮮明對比。創新業務在 2025 年第三季度實現首次單季盈利，並在 2025 全年實現首次年度運營盈利。</p><p>據 CnEVPost 彙編的數據，該公司一季度共交付 80,856 輛汽車，同比增長 6.57%。</p><p>小米汽車季度交付量</p><p>2024  2025  2026</p><p>一季度，小米創新業務收入達到 199 億元，同比增長 6.9%，與汽車交付量的增速保持一致。</p><p>其中，汽車業務一季度貢獻營收 190 億元，其他業務貢獻 9 億元。</p><p>一季度最後一個月，小米汽車 3 月份交付 21,440 輛。受新老產品交替影響，該數字同比下降 26.69%。</p><p>YU7 SUV 在 3 月份交付 13,558 輛，環比下降 32.87%。儘管如此，其銷量佔比仍達 63.24%，繼續擔任公司的支柱車型。</p><p>新一代 SU7 電動轎車於 3 月 19 日正式上市，並於 3 月 23 日開啓首批交付。在 3 月短暫的交付期內，該車型交付 7,882 輛，環比 2 月大幅反彈超 3,515%。</p><p>隨着新一代 SU7 進入首個完整交付月，小米汽車 4 月銷售勢頭強勁復甦。當月總交付量飆升至 36,702 輛，較 3 月大幅增長 71.18%。</p><p>4 月份 SU7 交付 26,826 輛，銷量佔比超過 70%。</p><p>小米為 2026 年設定了全年 55 萬輛汽車的雄心勃勃的交付目標。1 月至 4 月期間，公司累計交付 117,558 輛，同比增長 12.55%。</p><p>這家科技巨頭的野心並不侷限於中國國內乘用車市場；其計劃於 2027 年下半年正式進軍海外市場，並選擇歐洲作為其全球擴張的首站。</p><p>（1 美元 = 6.7851 元人民幣）</p>

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<p>儘管汽車交付量同比增長 6.57% 至 80,856 輛，小米汽車業務一季度仍報告 31 億元人民幣（約合 4.6 億美元）的運營虧損。該虧損主要歸因於產品換代及春節假期影響。創新業務收入同比增長 6.9% 至 199 億元，其中汽車板塊貢獻 190 億元。小米計劃 2026 年交付 55 萬輛汽車，並擬於 2027 年進軍海外市場</p>

<p><img src="https://imageproxy.pbkrs.com/https://cnevpost.com/wp-content/uploads/2026/05/2026052610041746.jpg" alt="" original-src="https://cnevpost.com/wp-content/uploads/2026/05/2026052610041746.jpg"/></p>
<p>A Xiaomi SU7 on display at the Beijing Auto Show in April 2026. Credit: CnEVPost</p>
<div class="lb-trans"><p>2026 年 4 月北京車展上展出的一輛小米 SU7。圖片來源：CnEVPost</p></div><blockquote>
<ul>
<li>In the first quarter, Xiaomi's EV business saw an operating loss of 3.1 billion yuan ($460 million), dragged down by a product transition and the holiday period.</li>
<li>The EV business achieved its first quarterly profit in the third quarter of 2025 and its first annual operating profit for the full year of 2025.</li>
</ul>
</blockquote>
<div class="lb-trans"><blockquote>
<ul>
<li>一季度，受產品換代及假期因素拖累，小米汽車業務錄得 31 億元人民幣（約合 4.6 億美元）的運營虧損。</li>
<li>該汽車業務於 2025 年第三季度實現首次單季盈利，並在 2025 全年實現首次年度運營盈利。</li>
</ul>
</blockquote></div><p>Xiaomi's (HKEX: 1810) electric vehicle (EV) business recorded an operating net loss in the first quarter, despite steady growth in deliveries during the period.</p>
<div class="lb-trans"><p>儘管期內交付量穩步增長，小米集團（HKEX: 1810）的汽車（EV）業務在第一季度仍錄得運營淨虧損。</p></div><p>This financial setback was mainly attributed to the drag of the traditional Spring Festival holiday in China and the short-term impact of the transition period for the facelift of the core SU7 sedan, which temporarily suppressed the department's profitability.</p>
<div class="lb-trans"><p>此次財務受挫主要歸因於中國春節假期的拖累，以及核心 SU7 轎車中期改款過渡期的短期影響，這暫時抑制了該業務的盈利能力。</p></div><p>In the first quarter, Xiaomi's innovative businesses, including EV and AI, saw an operating loss of 3.1 billion yuan ($460 million), according to a financial report released on Tuesday.</p>
<div class="lb-trans"><p>根據週二發佈的財務報告，一季度包含汽車及 AI 在內的創新業務錄得 31 億元人民幣（約合 4.6 億美元）的運營虧損。</p></div><p>Join us on  Telegram  or  Google News</p>
<div class="lb-trans"><p>在 Telegram 或 Google News 上關注我們</p></div><p>This contrasts with the strong financial performance of the segment in 2025. The innovative business achieved its first quarterly profit in the third quarter of 2025 and its first annual operating profit for the full year of 2025.</p>
<div class="lb-trans"><p>這與該板塊 2025 年強勁的財務表現形成鮮明對比。創新業務在 2025 年第三季度實現首次單季盈利，並在 2025 全年實現首次年度運營盈利。</p></div><p>The company delivered a total of 80,856 vehicles in the first quarter, up 6.57 percent year-on-year, according to data compiled by CnEVPost.</p>
<div class="lb-trans"><p>據 CnEVPost 彙編的數據，該公司一季度共交付 80,856 輛汽車，同比增長 6.57%。</p></div><p>Xiaomi EV quarterly deliveries</p>
<div class="lb-trans"><p>小米汽車季度交付量</p></div><p>2024  2025  2026</p>
<div class="lb-trans"><p>2024  2025  2026</p></div><p>Revenue from Xiaomi's innovative businesses stood at 19.9 billion yuan in the first quarter, an increase of 6.9 percent year-on-year, in line with the growth rate of vehicle deliveries.</p>
<div class="lb-trans"><p>一季度，小米創新業務收入達到 199 億元，同比增長 6.9%，與汽車交付量的增速保持一致。</p></div><p>Of this, the EV business generated revenue of 19 billion yuan in the first quarter, while other businesses contributed 900 million yuan.</p>
<div class="lb-trans"><p>其中，汽車業務一季度貢獻營收 190 億元，其他業務貢獻 9 億元。</p></div><p>In the final month of the first quarter, Xiaomi EV delivered 21,440 vehicles in March. Due to the transition between old and new products, this figure was down 26.69 percent from a year earlier.</p>
<div class="lb-trans"><p>一季度最後一個月，小米汽車 3 月份交付 21,440 輛。受新老產品交替影響，該數字同比下降 26.69%。</p></div><p>The YU7 SUV contributed 13,558 deliveries in March, down 32.87 percent from February. Nevertheless, it still accounted for 63.24 percent of the sales share, continuing to serve as the company's pillar model.</p>
<div class="lb-trans"><p>YU7 SUV 在 3 月份交付 13,558 輛，環比下降 32.87%。儘管如此，其銷量佔比仍達 63.24%，繼續擔任公司的支柱車型。</p></div><p>The new-generation SU7 electric sedan was officially launched on March 19 and began initial deliveries on March 23. The model contributed 7,882 vehicles during its brief delivery period in March, rebounding by more than 3,515 percent from February.</p>
<div class="lb-trans"><p>新一代 SU7 電動轎車於 3 月 19 日正式上市，並於 3 月 23 日開啓首批交付。在 3 月短暫的交付期內，該車型交付 7,882 輛，環比 2 月大幅反彈超 3,515%。</p></div><p>As the new-generation SU7 entered its first full month of deliveries, Xiaomi EV's sales momentum saw a strong recovery in April. Total deliveries for the month surged to 36,702 vehicles, a significant increase of 71.18 percent from March.</p>
<div class="lb-trans"><p>隨着新一代 SU7 進入首個完整交付月，小米汽車 4 月銷售勢頭強勁復甦。當月總交付量飆升至 36,702 輛，較 3 月大幅增長 71.18%。</p></div><p>The SU7 contributed 26,826 deliveries in April, accounting for more than 70 percent of the sales share.</p>
<div class="lb-trans"><p>4 月份 SU7 交付 26,826 輛，銷量佔比超過 70%。</p></div><p>Xiaomi has set an ambitious full-year vehicle delivery target of 550,000 units for 2026. Between January and April, the company delivered a cumulative total of 117,558 vehicles, up 12.55 percent year-on-year.</p>
<div class="lb-trans"><p>小米為 2026 年設定了全年 55 萬輛汽車的雄心勃勃的交付目標。1 月至 4 月期間，公司累計交付 117,558 輛，同比增長 12.55%。</p></div><p>The tech giant's ambitions are not limited to the domestic passenger car market in China; it plans to officially enter overseas markets in the second half of 2027, selecting Europe as the first stop for its global expansion.</p>
<div class="lb-trans"><p>這家科技巨頭的野心並不侷限於中國國內乘用車市場；其計劃於 2027 年下半年正式進軍海外市場，並選擇歐洲作為其全球擴張的首站。</p></div><p>($1 = 6.7851 yuan)</p>
<div class="lb-trans"><p>（1 美元 = 6.7851 元人民幣）</p></div>

Xiaomi's EV business posts Q1 operating loss despite delivery growth

- 小米電動車業務第一季度虧損 31 億元，受產品過渡影響。  
- 第一季度交付量為 80,856 輛，同比增長 6.57%。  
- 小米計劃 2026 年交付 55 萬輛，2027 年進軍海外市場。

儘管交付量增長，小米汽車業務一季度仍錄得運營虧損