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小米集團Q1業績大超預期,股價半年已飈50%
格隆匯 05-20 19:11

今日盤後,小米集團公佈今年一季度“成績單”。據財報披露,總營收為497億元(單位:人民幣,下同),同比增長13.6%;經調整淨利潤達到23億元,同比增長10.6%。在新冠疫情之下,如此體量能實現雙位數的增長,實屬不易。

(來源:小米財報)

受益於小米全球手機市佔率的增長,小米全球MIUI月活躍用户達到3.3億,同比增長26.7%。小米智能手機於季內毛利錄得24.52億元,同比大增177.1%。

分業務看,智能手機收入303億元,同比增長12.3%。其中,售出2920萬部智能手機,而去年一季度售出2790萬部,同比逆勢提升4.66%。另外,平均單價從去年一季度的968.3元提升至今年一季度的幣1038元,同比提升7.2%。ASP上升主要是由於一季度發佈的5G及其他高端智能手機型號拉動所致。

(來源:小米財報)

IoT與生活消費產品方面,營收為130億元,同比增長7.8%。主要是由於智能手環及路由器等若干IoT產品需求快速增長。不過,智能電視及筆記本計算機的銷售收入為46億元,同比減少8.2%。這主要是由於疫情影響導致銷售活動減少及生產中斷所致。

互聯網服務業務,營收為59億元,佔總營收比例的5.1%,較2019年提升1.9%。這是一個好的現象。

再看關鍵經營指標——毛利率。小米一季度整體毛利率為15.2%,相較去年一季度的11.9%,提升3.3%。

分開看,一季度手機業務毛利率高達8.1%,而去年同期僅為3.3%。一季度發佈的Mi10和Mi10Pro等數款熱門機型憑藉其優越的性能深受市場歡迎。

loT與生活消費產品分部毛利率為13.4%,同比提升1.4%。互聯網服務分部毛利率為57.1%,同比下滑10.3%,主要系遊戲及其他增值服務業務的收入佔比上升。

整體而言,小米一季度業績超出市場預期,表現驚豔,尤其是手機業務逆勢擴張,實屬不易。根據Canalys的統計,2020年第一季度,小米全球智能手機出貨量的市場佔有率上升至11.1%,排名全球第四,是五大手機廠商中僅有的兩家維持出貨量同比增長的廠商之一。

尤其在歐洲市場,小米表現強勢。據調研機構Canalys公佈的數據,小米市佔率高達14%,位列第四,同比大增58%。而三星、華為、蘋果則出現不同程度的下滑。

展望未來,小米認為,危機是企業價值、模式和生長潛力的試金石。也期待工作和生活逐漸恢復正常,在各項戰略的持續推進中,重新激發市場活力。

在港股市場,小米5月以來逆勢大漲25%。如果從去年11月底統計至今,股價更是大漲50%左右。曾經讓市場充滿期待的小米,是不是又回來了呢!

(來源:Wind)

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