A：In the first quarter of 2026, Xiaomi Group's total revenue reached 99.1 billion yuan and adjusted net profit was 6.1 billion yuan. In terms of business segments, in the mobile phone business, despite the decline in shipments, ASP (average selling price) hit a record high and maintained its global top three market share. IOT business achieved an income of 24.7 billion yuan. Although it was affected by domestic subsidies and high technology, its overseas income reached a record high, and 7W headphones ranked second in the world. Wearable products and tablets ranked third and fifth in the world respectively, with a gross profit margin of 25.2. In the automotive business, Xiaomi delivered 80856 cars, and the new generation model Xiaomi 17 series achieved good market feedback. At the same time, it released new models such as sports car-class SUVs suitable for long-distance travel.

A：Xiaomi emphasizes that the deep combination of AI and the physical world is the development direction of intelligent technology, and has a huge hardware ecological entrance, which is expected to become the leader of the AI era. In order to seize this trend, Xiaomi has developed its own large models and mastered core technologies to make differentiated products. Xiaomi basic model Xiaomi memo v2.5 series has achieved excellent results in many evaluations, ranking first in the global authoritative comprehensive list of large models, and the comprehensive intelligence index has performed well in the global open source model. In addition, Xiaomi has also launched a token program to give back to developers around the world.

A：2026 is regarded as the first year of AI mobile phones. Xiaomi is changing from APP-centered interaction to OS agent-centered interaction. Xiaomi's AI mobile phone product, Xiaomi Mike law, has become the first mobile phone intelligent body to pass authoritative evaluation in China, and has achieved a major upgrade of cross-end capability. At the same time, Xiaomi will continue to deepen the iteration of the surging OS, with Xiaomi Coke as the core, increasing the deep coupling of the model and the upper framework.

A：Xiaomi has released the Xiaomi S1A cognitive model architecture in the field of assisted driving, which makes its intelligent assisted driving move from perceptual imitation to understanding and reasoning. In May 2026, Xiaomi further introduced the fully open source self-driving model Xiaomi one VL, as well as the pre-spatial language world processing framework VLA, event model and pre-spatial processing three major technical routes, with a unified framework to achieve fast and accurate large model reasoning.

A：As an integrated platform for AI capability, chip capability, perception capability and manufacturing capability, Xiaomi has released the whole process of Xiaomi barbell real machine training through a new capability demonstration, and officially released Xiaomi robot. At present, the progress of Xiaomi robot is still in the early stage, but has successfully opened a new industrial space and market space.

A：Facing the future, Xiaomi will firmly become the leader of the world's new generation of hard core technology, and continue to increase technological innovation, especially in AI chips, OS core intelligence and other fields to make breakthroughs. At the same time, Xiaomi will also carry out organizational innovation and upgrading to support the long-term healthy growth of each business.

A：We have taken two main measures. First of all, we have combed and adjusted the product line to ensure that we do not simply pass on the cost to consumers, but redefine the product line, understand the needs of users under the new cost structure, and design products that meet the needs on this basis, and then sell them at a reasonable price. Secondly, we have launched some new products this year, and try our best to ensure that the old products do not increase in price or increase in price later or less. These measures have enabled us to achieve good results in terms of market share.

A：Regarding the car going to sea, our overall strategy is to advance in accordance with the established plan. We plan to go to sea in the third and fourth quarters of 27 years, and adopt the strategy of advanced post-mid-to-high-end market. At present, the team is making intensive preparations for related work. As cars are strongly regulated products, going to sea faces many problems such as legal and regulatory constraints, product localization adaptation and channel network layout, but the overall progress is still going on as planned.

A：In the first quarter, growth and share increased significantly. Regarding the big model of AI memo, although there is no direct answer to the specific figures of conversion rate and retention rate, it is mentioned that the average daily call volume has exceeded 1 trillion token, and the overseas market is growing rapidly and there is much room for development. It is also mentioned that the IOT business plays an important role in balancing rising memory costs and is expected to achieve high growth in the future. As for the commercialization progress of the big model of AI memo, although it is not described in detail, it mentions such phenomena as the high proportion of user payment, the extremely high call volume in some countries and the significant growth of overseas markets.

A：At present, the AI model has not yet reached the real business closed-loop stage, and is still in iteration and learning. It is hoped that the token line will be adjusted according to the industry in the future and maintain the growth state.

A：The company does not strictly follow the market rhythm at AI big model update point, but will decide whether to release or not based on its own model needs and business depth coupling.

A：The operating profit (Operating loss) of AI new business will be affected by the growth of delivery and the investment in AI. In the second quarter, it is expected that the delivery volume will increase month-on-month, but it will also increase the investment in AI. The overall operating profit result will be the superimposed effect of volume growth and cost control.

A：Xiaomi's AI big model first serves Xiaomi's own business and is deeply coupled with the business to enhance the application of data scenarios. At the same time, it will also sell tokens to the industry to participate in market competition, walk on two legs, and strengthen and support each other.

A：There are two main reasons for the decline in shipments after the peak: first, the large amount of lock orders but the prolonged delivery cycle leads to the loss of consumers in the waiting process; Second, the product line layout is not perfect and there is a lack of products that meet the market demand. The company is regaining its expected growth momentum by optimizing the lock process and improving product positioning.

A：Under the trend of rising costs, companies are under pressure to balance scale, profits, market share, and redefine products to ensure that users perceive value. By adjusting the product structure and solving the inventory problem, we can effectively control the negative impact of rising costs and maintain a stable gross profit margin. The company's basic strategy for the mobile phone business is not to simply raise prices, but to redefine the product under the new cost structure and to offset the impact of the decline in scale by optimizing the product structure.