Xiaomi's second-quarter revenue up 30.5 percent, boosted by EV orders

China's Xiaomi (1810) reported a 30.5 percent jump in second-quarter revenue on Tuesday, helped by strong orders for its new YU7 electric SUV.

Revenue for the quarter ended June 30 was 116 billion yuan (HK$126 billion), beating the 114.7 billion yuan average of 15 analyst estimates compiled by LSEG.

Adjusted net profit rose 75.4 percent year-on-year to 10.8 billion yuan, exceeding the average estimate of 10.1 billion yuan, according to LSEG data.

Hong Kong-listed shares in Xiaomi, which also makes smartphones and home appliances, closed down 1.2 percent at 52.4 Hong Kong dollars. The stock has risen 52 percent so far this year.

Reuters