Overview
- Xiaomi reported Q3 revenue of RMB 113.1 billion and said its EV and AI division generated RMB 29 billion with RMB 700 million in operating profit as vehicle deliveries reached 108,796 and segment gross margin rose to 25.5%.
- President Lu Weibing said Xiaomi will reach its 350,000 full‑year delivery goal this week and cautioned that margins may decline next year due to a halving of purchase‑tax subsidies and intensified competition.
- Leapmotor posted RMB 19.45 billion in Q3 revenue and RMB 150 million in net profit with 173,852 deliveries, and it said a first overseas model co‑developed with FAW is slated for mass production in H2 2026.
- Zeekr recorded RMB 31.56 billion in revenue and a RMB 307 million net loss on 140,195 deliveries, while XPeng delivered 116,007 vehicles with RMB 20.38 billion in revenue and a RMB 380 million net loss.
- Baidu disclosed roughly RMB 10 billion in Q3 AI revenue, up more than 50% year over year, even as total revenue fell 7% to RMB 31.2 billion.