XIAOMI Smashes Expectations: 1Q24 Adjusted Net Profit Soars 101% YoY to RMB 6.491B

Turnover: RMB75.507 billion, up 27% YoY.
Net Profit: RMB4.182 billion, down 0.5% YoY.
EPS: RMB0.17.
Adjusted Net Profit: RMB6.491 billion, up 100.8% YoY.
Surpassed forecasts of 13 brokers (RMB4.888 billion to RMB5.6 billion).
Gross Profit Margin: 22.3%, up 2.8 percentage points YoY.
Exceeded forecasts of 8 brokers (20.4-22.1%).