How does Xiaomi seize the opportunity under the epidemic, with the smartphone sales are growing against the trend?

In early trading on May 21, the shares of Xiaomi Group surged by more than 2.6%, a price of HK$13.14. In less than a month, Xiaomi has achieved the largest increase of more than 30%, and the market value has once again stood above HK$300 billion.

The biggest benefit to Xiaomi's shares is Xiaomi's excellent first-quarter financial report data for 2020.

Xiaomi's 2020 Q1 performance exceeded expectations

On the evening of May 20, Xiaomi Group announced its first quarter 2020 financial report. Its revenue was 49.702 billion yuan, an increase of 13.6% year-on-year and a decrease of 12% quarter-on-quarter, mainly due to the impact of the epidemic on IOT (Internet of Things and Consumer Goods) business. However, it is still about 2.5% higher than Bloomberg's consensus of 48 billion yuan.