Xiaomi's 2025 has delivered a "performance report" that surprised the market.

On March 24, Xiaomi Group officially released its 2025 annual performance report. The financial report shows that in the past year, Xiaomi achieved a total revenue of 457.287 billion yuan, an increase of 25% year-on-year; the adjusted net profit reached as high as 39.166 billion yuan, surging by 43.8%. With the dual tracks of smartphones and car manufacturing, Xiaomi is experiencing the strongest growth period in its history.

R&D investment record: the technical ambition behind 25,000 engineers

The growth in profits is backed by Lei Jun's almost obsessive investment in underlying technologies.

Talent scale: As of the end of 2025, the total number of R&D personnel at Xiaomi reached 25,457, setting a new historical record.

Heavy investment in AI: Lei Jun officially announced at the press conference that Xiaomi will continue to invest 60 billion yuan in the AI field over the next three years.

Model position: The highly anticipated MiMo large model has officially entered the top tier of domestic AI, becoming the core engine driving Xiaomi's full ecosystem intelligence.

Double engine drive: the automobile business takes off upon consolidation

Looking at the composition of the financial report, Xiaomi's "smartphone × AIoT" and "innovative business" have formed a stable dual-wheel drive:

Stable base: The "smartphone × AIoT" division contributed 351.2 billion yuan in revenue, up 5.4% year-on-year. Under the push of the premium strategy, Xiaomi's smartphone business continues to maintain steady expansion in a complex market environment.

Automotive and AI stand out: The innovative business division, including smart electric vehicles, generated revenue of 106.1 billion yuan, surging by 223.8% year-on-year. This marks that Xiaomi's automobile business has left the investment phase and officially entered the stage of large-scale revenue generation.

Next three years: from "follower" to "definer"

With the launch of the 60 billion yuan AI investment plan, the strategic focus of Xiaomi Technology Co., Ltd. has become very clear: to deeply empower the entire ecosystem of people, cars, and homes through large models.

From the financial data, Xiaomi