Xiaomi Ranked 50th In Fortune China 500 List

Xiaomi Fortune Global 500

On July 27, Fortune Chinese.com released the latest “Fortune” China Top 500 rankings, and Xiaomi Group once again appeared on the list. In the overall list, Xiaomi Group ranked 50th this year, up 3 places from last year, and ranked among the top three on the Internet service list.

Xiaomi Fortune Global 500

In the “Internet Services” sub-list, Ali, Tencent, and Xiaomi ranked the top three with 488.9 billion yuan, 377.3 billion yuan, and 205.8 billion yuan, respectively.

Also Read: Xiaomi’s Investment in R&D Will Exceed 56.6 billion Yuan By 2020

According to CICC’s analysis, the rapid growth of Internet services has continued this year. In the past year, according to the industry classification standard of Fortune (Chinese version), the revenue of the Internet service industry has increased by 31% year-on-year.

In the Fortune Global 500 list last year, Xiaomi Group made its debut, ranking 468th. It took 8 years from the establishment of Xiaomi Group to appear on the Fortune Global 500. And it has become the fastest Chinese Internet and technology company on the list.

Everything is OK with Xiaomi

In the past year, the revenue of Xiaomi Group has continued to rise. The financial report shows that the total revenue of Xiaomi in 2019 exceeded 200 billion yuan for the first time, reaching 205.8 billion yuan, a year-on-year increase of 17.7%. The adjusted annual net profit was 11.5 billion yuan, a year-on-year increase of 34.8%.

In terms of business segments, in 2019, Xiaomi Group’s smartphone business revenue accounted for 59.3%, IoT and consumer products business revenue accounted for a year-on-year increase of 5% to 30.2%, and Internet service revenue accounted for 9.6%. The diversified layout of Xiaomi Group has achieved remarkable results.

A few days ago, Lei Jun, Chairman, Founder and CEO of Xiaomi Group, wrote in People’s Daily, ‘Xiaomi has grown from a start-up company with more than a dozen people to a Fortune 500 company. It has not only produced high-quality products but also driven data hundreds of small and medium-sized enterprises innovate and start businesses and improve their efficiency, which is a concrete manifestation of China’s booming economy.’

Lei Jun said that Xiaomi will continue to increase its technological innovation and make the artificial intelligence Internet of Things a service capability that runs through the entire product, platform, and scene of Xiaomi’s intelligent ecosystem.

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