Xiaomi's gross profit margin exceeds Tesla's

On August 19th, Xiaomi Group released its financial report showing that in the first half of this year, Xiaomi's innovative businesses such as intelligent electric vehicles and AI (hereinafter referred to as Xiaomi Auto) generated revenue of 39.84 billion yuan, with an operating loss of approximately 800 million yuan. Among them, in the second quarter of this year, the gross profit margin related to Xiaomi's automotive business has reached 26.4%, and the operating loss has narrowed to only 300 million yuan. The gross profit margin of automobiles is an important indicator for measuring the profitability of car companies. According to the financial report data disclosed by car companies this year, among the 13 mainstream car companies surveyed by reporters, a total of five car companies have gross profit margins exceeding 20%, including Sylphy, Xiaomi, Jike, Ideal, and BYD. Among them, Xiaomi's gross profit margin for the second quarter has already surpassed Tesla, ranking first among car companies that have already announced their gross profit margins for the second quarter. If the time span is extended to the first quarter of this year, Xiaomi's gross profit margin is second only to Sylphy (27.6%), ranking second among the surveyed car companies.