Xiaomi Sees Annual Decline in Q3 Net Profits and Revenue, Car Production Ran Smoothly

(Source: Xiaomi)

Xiaomi released its financial report for the third quarter of 2022 on November 23. Its revenue in the period was 70.47 billion yuan ($9.87 billion), down 9.7% year-on-year. Net profits were -1.476 billion yuan, while adjusted net profits were 2.117 billion yuan, down 59.1% year-on-year.

During a conference call, Wang Xiang, President of X…