On May 26, Gizcoupon reported that Xiaomi announced its first-quarter financial results for 2023 on May 24th, Beijing time. The report revealed that the company’s total revenue for the first quarter reached CNY 59.5 billion (approximately $8.424 billion), marking a decline of 18.9% compared to the same period in 2022. Adjusted net profit stood at CNY 3.2 billion (approximately $453 million), indicating a growth of 13.1% from the same period in 2022. These figures include expenses related to innovative ventures, such as smart electric vehicles, amounting to CNY 1.1 billion (approximately $156 million).
Gizcoupon noticed that Xiaomi Group disclosed in the financial report the establishment of its large-scale model team of the AI laboratory in April. Currently, the number of personnel in the AI field has exceeded 1,200. Xiaomi will continue to explore AI-related user scenarios, leverage its technological advantages, and embrace collaborative opportunities with partners in an open manner.
Interview with the President of Xiaomi
According to a report by The Paper, during the conference call following the release of the financial report, Xiaomi President, Lu Weibing, mentioned in an interview that they would actively embrace large-scale models but not pursue a universal model like OpenAI. Furthermore, they plan to deeply integrate AI into their business operations, improving internal efficiency through AI technology. Xiaomi officially formed its large-scale model team of the AI laboratory in April this year, with over 1,200 researchers and developers working in the field of AI.
Additionally, Lu Weibing revealed that Xiaomi Car-making Business will proceed as originally planned. The timeline of the project will meet or slightly exceed expectations. This year, it will also conduct winter and summer tests as planned.