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Xiaomi's Profit Plunges in Q1

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Xiaomi (HKG:1810) recorded a decline in attributable profit for the first quarter of 2026 to 4.72 billion yuan from 10.9 billion yuan a year prior, according to a Tuesday filing with the Hong Kong bourse.

Earnings per share were 0.18 yuan in the period, down from 0.42 yuan in the previous fiscal year.

The tech giant's revenue slipped 11% to 99.1 billion yuan from 111.3 billion yuan in the year-ago period.

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