[TechWeb] Recently, Lei Jun, chairman of Xiaomi Group, said at the 2nd China International Intelligent Industry Expo that Xiaomi formed the Xiaomi Industry Fund two years ago and participated in the manufacturing industry in depth. In the past two years, Xiaomi has invested in 12 smart manufacturing and semiconductor chip industries, and three of them have been listed on the Kechuang Board in the past two months.
It is understood that these three companies are Lexin Technology, Fangbang, and Jingchen. In addition to the three listed companies, there are Jinshan Office, No. 9 Wisdom, Stone Technology, Chuangxin Laser, Juchen Shares.
At the meeting, Lei Jun also revealed that Xiaomi listed AIOT as an equally important strategy with mobile phones at the beginning of this year, and launched a dual-engine strategy for mobile phones and AIOT, and promised to invest 10 billion yuan in the AIOT field in the next five years. In terms of 5G, Xiaomi began to preview 5G technology and 5G mobile phones three years ago. The first step of this year is to launch 5G mobile phones in Europe. It is expected to release Xiaomi's second 5G mobile phone in China in September.
Xiaomi's second quarter net profit of 3.64 billion yuan in cash reserves of 51.1 billion yuan
Xiaomi Group's 2019 financial report for the first half of the year showed that the adjusted net profit was 5.716 billion yuan, a year-on-year increase of 49.8%. The adjusted net profit for the second quarter was 3.64 billion yuan, a year-on-year increase of 71.7%. The second quarter revenue was 52 billion yuan, and the market expectation was 53.521 billion yuan, compared with 45.236 billion yuan in the same period last year. Gross profit margin increased to 14.0% from 12.5% in the same period last year. As of June 30, 2019, the company's total cash reserves have reached RMB 51.1 billion.