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Beijing (Gasgoo)- Xiaomi Group on March 18 released its financial report and raised its 2025 annual delivery target for Xiaomi EV to 350,000 units, following the milestone delivery of its 200,000th vehicle. SU7 Ultra; photo credit: Xiaomi EV In its 2024 full-year and fourth-quarter (Q4) financial report, Xiaomi Group reported total revenue of 365.9 billion yuan, marking a 35% year-on-year jump. Adjusted net profit reached 27.2 billion yuan, up 41.3% from a year ago. Xiaomi EV, the most closely watched business segment, generated 32.8 billion yuan in revenue in 2024, accounting for less than 10% of Xiaomi’s total revenue. Notably, the gross profit margin for Xiaomi's smart electric vehicles and other innovation businesses stood at 18.5%. However, the segment reported an adjusted net loss of 6.2 billion yuan in the past year. Based on Xiaomi EV's 2024 deliveries of 136,854 units, the company incurred an average loss of 45,300 yuan per vehicle. During Xiaomi's earnings call, P
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