Daiwa: Xiaomi Group -W (01810.HK) achieved a year-on-year growth of over 30% during the 25th anniversary of 618, and maintained a good growth momentum in the next quarter.

Zhitong Financial APP learned that Morgan Stanley released a research report stating that Xiaomi Corporation - W (01810.HK) achieved a year-on-year growth of over 30% in the recent 618 shopping festival, indicating that its domestic business maintained strong growth momentum in the second quarter of 2025. According to Xiaomi, the group accumulated a total payment amount of 35.5 billion RMB during the 618 shopping festival period, with a year-on-year increase of over 30%. Among them, online store revenue increased by 18%, smartphone shipments increased by 17%, AIoT revenue increased by 16%. Xiaomi's offline store revenue also increased by 51%, with smartphone shipments increasing by 31% and AIoT revenue increasing by 63% year-on-year.