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静待归盈
静待归盈
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#财报观察员:小米即将发布财报,你更看好哪条业务线? 我的答案很明确:汽车是未来,AIoT是基本盘,手机是正在褪色的光环。 小米Q2单季营收1089亿元再超千亿,但经调整净利润62亿元同比大跌42.6%。 手机:Q2收入421亿元,出货量同比下滑但全球平均售价同比暴涨25.9%至1351元,高端化初见成效。但“量降价升”能跑多久存疑——ASP涨了收入还是降的,说明量跌得比价涨得快,手机毛利率被压制在8%左右。 汽车:这才是Q2最值得看的。收入249亿元,交付104199辆,新一代SU7拿下上半年20万以上纯电轿车销量第一。经营亏损26亿元但毛利率已到19.2%,规模效应正在起作用。一旦汽车业务实现单季度盈利,市场会重新认识小米。 AIoT:海外贡献突出,互联网服务收入 90亿元、毛利率高达76.8%,7.67亿月活用户是小米最深的护城河。 我的判断是汽车才是决定小米下个五年估值天花板的变量。 多家机构维持“买入”评级,认为下半年迎基本面拐点。等汽车盈利那天,市场会给小米完全不同的估值逻辑——从“烧钱讲故事”切换到“赚钱算账”。 三条线我都看,但最值得押注的还是汽车。
OKX中文
OKX中文
👀 Xiaomi's financial report is about to be revealed. Which business line do you favor more? There are rewards for posting in this topic🏅 Mobile phones, automobiles, AIoT—which business line do you prefer? Share your reasons! Can the high-end mobile phone strategy continue to deliver? Will automobiles become the second growth curve or bring new profit challenges? Where does AIoT and the "human-vehicle-home full ecosystem" stand now? ✍🏻 Posting rules: 1️⃣ Write your judgment in a post and include the topic starting with Financial Report Observer, such as #财报观察员:小米即将发布财报,你更看好哪条业务线? 2️⃣ Selection period: August 18 to August 23. Opinions don’t have to be long but must be related to Xiaomi. 3️⃣ You are welcome to quote and comment on information from the Xiaomi market page $XIAOMI to the community; no copying or bulk AI-generated content allowed. Reward rules (weighted scoring based on content quality and interaction data): 🏆 Chief Financial Report Observer × 30 winners Reward: 1 VIP experience card for 15 days 🎲 Financial Report Listed Observer × 100 winners Reward: 1 voucher for 10 USDT tokenized stock Selection notes: Each person can receive only one reward; if the same user is selected multiple times, the higher-level reward will be granted. Additionally, OKX now supports $XIAOMI Xiaomi perpetual contracts, trading 24/7! VIP × Hong Kong and US stock rights synchronized and enhanced: Now trading Hong Kong and US stock assets requires only 1/3 of the Hong Kong stock trading volume to directly access VIP 1, unlocking more VIP exclusive rights!

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