Xiaomi group financial report

According to the announcement of Midea Group's fundraising issued by Shenzhen Stock Exchange, Xiaomi's 20 13 revenue was 26.583 billion RMB. Operating profit is 486 million yuan; The net profit was 347 million yuan.

As of 20 13 12 3 1, the total assets of Xiaomi are 6.452 billion yuan; Total liabilities are RMB 6.057 billion. Lei Jun, founder, chairman and president, holds 77.8% of the shares and is the single major shareholder of Xiaomi. Other investors hold 22.2%.

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Profitability: In terms of net profit, gross profit margin = 1.3%.

Efficiency: total assets sales = 4.9

Security: d/e ratio = 15.3.

Obviously, Xiaomi is taking an unsuccessful route of small profits but quick turnover. Because although he has achieved great success in selling more, the final result at the bottom of PL is still very desperate.

In addition, from the current situation, Xiaomi's debt ratio is extremely high. Generally speaking, companies with a D/E ratio greater than 1 are considered to be financially safe. In fact, the debt ratio of Xiaomi 15.3 is also one of the important reasons why Xiaomi can't go public for financing.

Due to Xiaomi's ultra-low profitability and huge financial risks, its investment charm cannot meet the needs of investors. Moreover, it lacks the performance of attracting capital markets, and the debt ratio is difficult to improve in the short term.

Finally, from the perspective of internationalization, the increasingly saturated domestic market leads Xiaomi to explore the international market. There are few examples of China B2C brand successfully opening the international market. The price advantage of making Xiaomi mobile phone sell like crazy in China does not seem to be popular in the international market.

Generally speaking, I still think Xiaomi's financial report is a pessimistic material.