September 4, 2020

Xiaomi Achieves Growth Amid Headwinds in 1H 2020, Revenue and Profit Beats Market Consensus

Set to Tap Future Opportunities with Solid Position in Premium Markets
Embraces the Next Decade with Upgraded Core Strategy of “Smartphone X AIoT”



Xiaomi Corporation, an internet company with smartphone and smart hardware connected by an Internet of Things (“IoT”) platform at its core, today announced its unaudited consolidated results for the three and six months ended 30 June 2020 ("1H2020” or “the Period”).


1H 2020 Financial Highlights

• Total revenue amounted to RMB103.24 billion, representing an increase of 7.9% year-over-year (“YoY”), beating market consensus;

• Gross profit was approximately RMB15.26 billion, up 22.3 YoY;

• Profit for the period was approximately RMB6.65 billion, up 29.3% YoY, beating market consensus;

• Non-IFRS adjusted net profit was approximately RMB5.67 billion, down 0.7% YoY, beating market consensus;

• Earnings per share was RMB0.279.



Q2 2020 Financial Highlights

• Total revenue was approximately RMB53.54 billion, up 3.1% YoY and 7.7% quarter-on-quarter (“QoQ”);

• Gross profit was approximately RMB7.70 billion, up 6.1% YoY and 1.9% QoQ;

• Profit for the period was approximately RMB4.49 billion, up 129.8% YoY and 108% QoQ;

• Non-IFRS adjusted net profit was approximately RMB3.37 billion, down 7.2% YoY, but increased by 46.6% QoQ;

• Earnings per share was RMB0.189.

Xiaomi Corporation said, “In the first half of 2020, despite the impact of COVID-19 and great global uncertainties, Xiaomi’s diversified business ecosystem has demonstrated its resilience, as both revenue and adjusted profits beat market consensus, while our operations continued to expand. We made the Fortune Global 500 list for the second time, ranking 422nd, up 46 places from last year. With 2020 being Xiaomi’s 10th anniversary, we have upgraded our core strategy to ‘Smartphone X AIoT’, with AIoT revolving around our core smartphone business, enabling us to lead the future way of smart living. Looking forward to the next decade, we will firmly adhere to our ‘three guiding principles’ - never cease to explore and innovate, continue to offer products with strong price-to-performance ratio, and seek to make the coolest products, so as to let everyone in the world enjoy a better life.”

Firmly Adhere to the “Three Guiding Principles” and Maintain Xiaomi’s Position in Premium Smartphone Market

Amid the challenges brought by COVID-19 on the global smartphone market, Xiaomi adhered to three guiding principles – “never cease to explore and innovate, continue to offer products with the price-to-performance ratio”. Revenue from the smartphones segment was RMB61.952 billion and RMB31.628 billion in the first half and second quarter of 2020 respectively, and the smartphone shipments reached 28.3 million units.

According to Canalys, in the second quarter of 2020, Xiaomi ranked 4th globally in terms of smartphone shipments, and its market share stood at 10.1%. In overseas markets, shipments of its premium smartphones, with retail price of €300 or more, went up by 99.2% YoY in the second quarter of 2020. Driven by the higher proportion of sales from mid- to high-end smartphones, the average selling price (“ASP”) of the Group’s smartphones increased by 11.8% YoY and 7.5% QoQ.

The Group insisted on implementing the dual-brand strategy and yielded significant results. Xiaomi’s 5G flagship smartphones, Mi 10 and Mi 10 Pro, were launched in February 2020, the shipments have exceeded one million units within only two months. In August 2020, Xiaomi launched the Mi 10 Ultra, which achieved a DXOMARK score of 130 for overall camera performance, once again ranking 1st globally at the time of launch. The sales have exceeded RMB400 million after 10 minutes of its debut.

The Redmi brand continued to make 5G technology accessible to the mass market. In June 2020, the Group launched the Redmi 9A series which priced from only RMB499. It then launched the Redmi K30 Ultra in August, sporting all-around premium features with prices starting from only RMB1,999.

It is worth mentioning that Xiaomi also launched its smart factory recently with a total investment amount of RMB600 million, opening up an era of smart and manufacturing at Xiaomi’s factories. The Mi 10 Ultra is the first mass-produced ultra-high-end model of the Xiaomi Smart Factory.




Upgraded Core Strategy of “Smartphone X AIoT” to Build a Smart Life

Revenue from the IoT and lifestyle products segment was RMB28.237 billion and RMB15.253 billion in the first half and second quarter of 2020, respectively. Xiaomi’s global TV shipments still amounted to 2.8 million units, achieving YoY growth despite a decline in the overall TV market. According to All View Cloud (“AVC”), in the second quarter of 2020, the Group’s TV shipments in mainland China ranked 1st for the 6th consecutive quarter and ranked among the top five globally.

In the second quarter, Xiaomi introduced two flagship products under the new Mi TV Master Series, further expanding its footprint in the premium market. In July 2020, the Group introduced its first OLED TV, Mi TV Lux 65” OLED. In August 2020, it launched the second ultra high-end TV within the Mi TV Master Series-Mi TV LUX Transparent Edition, which is the world’s first mass-produced transparent TV.

To fulfill the various demands of the consumer worldwide, Xiaomi’s smart TVs entered more markets, including Poland, France and Italy during the second quarter. In July 2020, Xiaomi held its first global Xiaomi Ecosystem Product Launch and released a series of new products, including the Mi Smart Band 5 and Mi True Wireless Earphones 2 Basic.

Recently, Xiaomi Founder, Chairman and CEO Mr. Lei Jun distributed a letter to employee, announcing that Xiaomi’s core strategy will be upgraded to “Smartphone x AIoT” in the next decade to drive synergistic benefits, with smartphone remains as the cornerstone to the Group’s business, while AIoT will build a smart life around smartphones to let Xiaomi truly lead the future way of smart living

As of June 30, 2020, the number of connected IoT devices (excluding smartphones and laptops) on Xiaomi’s IoT platform reached approximately 271.0 million units, representing a YoY increase of 38.3%. The number of users who have five or more devices connected to Xiaomi’s IoT platform (excluding smartphones and laptops) increased to over 5.1 million, representing a YoY growth of 63.9%. Meanwhile, the Mi Home App had 40.8 million MAU, representing a YoY increase of 34.1%, in which non-Xiaomi smartphone users accounted for 67.9%. In June 2020, our AI Assistant (“小愛同學”) had 78.4 million MAU, an increase of 57.1% YoY.

Xiaomi continued to strengthen the interconnectivity across products with the “Xiaomi Share” initiative. “Xiaomi Share” supports always-on access to music, video and voice calls when switching across multiple devices. In addition, the Group developed the multi-screen collaboration function, which support cross-device photographing and document editing. Going forward, the Group will continue to enhance the connectivity between smart devices, and offer more intelligent user experiences and application scenarios, thereby bringing global Xiaomi users to the forefront of future smart living.



Increasing Contribution of Diversified Internet Services to the Group’s Revenue

Revenue of the internet services segment amounted to RMB11.808 billion and RMB5.908 billion in the first half and second quarter of 2020 respectively. In the second quarter of 2020, the MAU of MIUI increased by 23.3% year-over-year to 343.5 million, while the mainland China MAU of MIUI was 109.7 million.

In the second quarter of 2020, advertising revenue increased by 23.2% YoY to RMB3.1 billion, driven by the rapid growth in overseas advertising revenue, as well as the gradual recovery in advertising budgets in mainland China. Internet services revenue outside of advertising and gaming from mainland China smartphones, including those generated from the Youpin e-commerce platform, fintech business, TV internet services and overseas internet services, increased by 39.5% YoY, accounting for 39% of its total internet services revenue.

In June 2020, MAU of Xiaomi smart TVs and Mi Box reached 32.0 million, an increase of 41.8% YoY. As of June 30, 2020, the number of paid subscribers increased by 33.1% YoY to 4.0 million.



Business in Overseas Markets Grows Steadily Despite Headwinds

Remains the 1st in Western Europe among major players by Smartphone Shipments Growth Rate

Revenue from overseas markets was RMB48.861 billion and RMB24.029 billion in the first half and second quarter of 2020 respectively. According to Canalys, in the second quarter of 2020, Xiaomi’s market shares in terms of smartphone shipments ranked among the top five in 50 countries and regions and reached the top three in 25 of these markets.

In the second quarter of 2020, according to Canalys, Xiaomi’s smartphone shipments grew by 64.9% YoY in Europe, achieving a total market share of 16.8%, ranking it in the top three for the first time. In Western Europe, the Group’s smartphone shipments grew 115.9% YoY, accounting for a 12.4% market share. The Group’s smartphone shipments in Spain grew by 150.6% YoY, ranking 1st for two consecutive quarters with a 36.8% market share. During the quarter, Xiaomi ranked 2nd in France and 4th in Germany and Italy, in terms of smartphone shipments.

In Eastern Europe, Xiaomi became the No.1 smartphone company in Ukraine and Poland in terms of smartphone shipments, with respective market shares of 37.1% and 27.5%. In addition, in the second quarter of 2020, the Group captured a market share of 30.7% by shipments in the Indian smartphone market. According to IDC, it retained the No.1 position in the Indian smartphone market for the 12th consecutive quarter.


Impact of the COVID-19 outbreak

In the second quarter of 2020, the COVID-19 pandemic affected Xiaomi’s global operations to varying degrees. In April and May 2020, several of the Group’s key markets implemented strict lockdown measures and the sales were greatly impacted. As business restrictions were gradually lifted, sales have recovered tangibly.

In India, strict lockdown measures were imposed starting in late March and our sales were significantly impacted during the lockdown period. As India gradually lifted the restrictions during the second quarter of 2020, consumer demand started to rebound. In July 2020, the average daily number of smartphone activations in India returned to 72% of the pre-pandemic level recorded in January. In July 2020, excluding India, the average daily number of overseas smartphone activations had reached 120% of the pre-pandemic level recorded in January.


About Xiaomi Corporation
Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core.

With an equal emphasis on innovation and quality, Xiaomi continuously pursues high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.

Xiaomi is currently the world’s fourth-largest smartphone brand, and has established the world’s leading consumer IoT platform, with 271 million smart devices connected to its platform, excluding smartphones and laptops. Xiaomi products are present in more than 90 markets around the world.

In August 2020, the company made the Fortune Global 500 list for the second time, ranking 422nd, up 46 places compared to last year. It also ranked 7th among internet companies on the list. In May 2020, the company made the Forbes Global 2000 List again, and its ranking jumped to 384th.

Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index and Hang Seng TECH Index.


For more information about the company, please visit https://blog.mi.com/en/.




Robinsons Bank’s innovations streak gains global recognition


Robinsons Bank, one of the fastest growing commercial banks in the country, continues to gain global recognition this 2020 for its innovative products and services.

RBank has won the title for the “Best Commercial Bank - Philippines 2020” and the “Fastest Growing Commercial Bank - Philippines 2020” from the International Business Magazine (IBM) and the Global Business Outlook (GBO), respectively. 

In 2019, RBank’s revenue grew by 28 percent from its 2018 performance, registering a total of P8.1 billion, driven by a 17-percent expansion in its gross loan portfolio. RBank’s total net income in 2019 rose to P719.4 million, marking a 127-percent increase. 

During the first half of 2020, RBank’s profit grew to P 628.32 million, almost four times the P 158.36 million it earned in the same period last year. This is strongly driven by the gains in trading and securities which offset the higher provision for credit losses. 

Both IBM and GBO seek to recognize companies that show great potential in “innovation and creativity, and a drive to create value”. 

Furthermore,  Robinsons Bank’s GO!Salary Loan Online and the Mobile Credit Investigation Application (MoCA) for GO!Motorsiklo Loans both earned the title “Most Innovative Digital Transformation Initiative -- Philippines 2020” in the recently concluded The Global Economics Awards 2020. MoCA was also awarded as the “Best Automated Loan Process -- Philippines 2020” by the International Business Magazine. 

In addition to this, RBank Sign Up, one of RBank’s newest products, was named as the “Most Innovative Retail Bank Product - Philippines 2020” by the International Business Magazine.

In these changing times, digital transformation and innovation is now more timely than ever. RBank continues to focus on these strategies to ensure that it meets the customers’ needs and to be able to provide them with an easy and convenient banking experience. 



Creating Innovative Solutions in a Digital World

RBank is one of the few banks in the Philippines that offers loans specifically for motorcycles. Through the GO!Motorsiklo Loan, RBank aims to bridge the gap between financing opportunities for Filipinos in the lower-income bracket. Partnering with accredited motorcycle dealers, the Bank is hopeful that it can provide easy-to-pay financing options to the underserved market. 

However, the challenge that comes along with loan applications is the credit investigation. Both clients and the Bank see that the credit investigation process is lengthy. That is why RBank’s GO!Motorsiklo Loan has implemented its Mobile Credit Investigation Application (MoCA) so that it can process loan applications faster.

With the implementation of MoCA, manpower scheduling improved, client information was made secure, credit reports were generated faster, credit checks were completed immediately, and more importantly, customers were better satisfied, further saving thousands of pesos in man hours under previous manual processing.

Improving customer experience through innovation

Robinsons Bank’s GO!Salary Loan online is the quickest and most effective way to get a much needed financial boost. Offered to employees of companies under the salary loan program, the GO!Salary Loan is a multipurpose loan facility that’s collateral-free and paid through salary deduction, allowing financial flexibility for clients. 

The GO!Salary Loan online addressed the pain points of corporate clients and its employees. It eliminated the rigorous paperwork, the burden of filling out forms and preparing physical documents for the clients, and even the submission of the loan application. 

Additionally, since the innovation makes use of an end-to-end digital process, loan applicants can skip the visit to a physical RBank branch to sign loan documents since it can be completed electronically through ePN. As an added security feature, clients are also provided a One-Time-Password (OTP) so they can access and accept forms and initiate the process of their loan release online.

As every step of the loan application process was embedded into the digitalization of the GO!Salary Loan, RBank achieved a reduction in the approval processing time from 1 to 2 weeks down to 1 to 2  working days after the online endorsement of the HR Group, thus remarkably reinventing the landscape of the GO! Salary Loan product.

Furthermore, the innovation reduced man-hours, and maximized productivity. It also reduced risk factors and increased efficiency in the loan approval process. This also allowed for new business opportunities for RBank, since with this new digital application, even companies with branches in far areas of Luzon, Visayas, and Mindanao, may now be served through this digital innovation. 

Reshaping banking for the ‘new normal’ 

The COVID-19 pandemic has reshaped the banking industry, making digital banking no longer an option but a necessity. With this challenge, RBank sought to push digitalization further, and with urgency, to address these rapidly changing needs of the Filipino people and continue to provide them with their needed financial services during the critical time. 

RBank launched the RBank Sign Up, an online application platform that promises an all-digital process of opening an account with Robinson Bank, last April. RBank Sign Up allows anyone to open a Simple Savings Deposit Account, Regular ATM Savings Account, and a Payroll Account. 

With RBank Sign Up, clients who wish to open an account with RBank can do so with just a mobile phone, internet connection, and one (1) valid Identification Card. The application enables a real-time ID detection and a facial recognition feature that allows the instant completion of the application process. Clients will be able to receive their account details within a few minutes of opening the account. 

Robinsons Bank continues to chart its path towards digitization with the goal of creating products and services that will enhance the customer experience to provide easier and more convenient banking services to clients.

Robinsons Bank is the financial services arm of the JG Summit Group of Companies, one of the largest conglomerates in the Philippines. It currently ranks 18th among universal and commercial banks in the country, with assets amounting to Php 131.088 Bn as of December 2019.
For inquiries and concerns, you may reach Robinsons Bank through its Customer Care Center at (02) 8637-CARE (2273) or domestic toll-free 1-800-10-637-CARE (2273); or visit its website at www.robinsonsbank.com.ph. Like them on Facebook at www.facebook.com/robinsonsbank/ and follow them on Twitter @RBankCorp for the latest promo.


Bayad Center rolls out donation drive across Luzon

Inspired by the Filipino bayanihan spirit, CIS Bayad Center, Inc. spearheaded a corporate social responsibility (CSR) initiative called “BAYADnihan, Tulong-tulong para sa Bayan”, to benefit hundreds of vulnerable individuals and families who continue to experience hardships amid on-going quarantine restrictions in this time of COVID-19.



With the said initiative, the simple act of settling bills was turned into an opportunity to help Filipinos in need as a portion of customer payments made at any Bayad Center branch or using the mobile app from March 1 to April 30, 2020 were donated to its CSR partner, One Meralco Foundation. Bayad Center employees also pledged a part of their salaries to further the cause.

Having raised the funds for the donation drive, Bayad Center and One Meralco Foundation coordinated with Cordillera farmers, whose livelihoods were also burdened by the pandemic, to buy their produce and include them in the care packages for distribution. Local government units were also contacted to assist in identifying barangays that need assistance.

To date, the “BAYADnihan, Tulong-tulong para sa Bayan” initiative has reached out to various communities in Quezon City, Manila, Marikina, Pasig, as well as the provinces of Bulacan and Batangas, distributing care packages including vegetables sourced from Cordillera farmers and other essential goods.






According to Bayad Center CEO and President Lawrence Ferrer, “Together with our stakeholders, we will carry on with our efforts to reach out to as many communities as we can. We thank our customers and all our partners, whose concerted efforts show us that in the face of threats and challenges spurred by the COVID-19 crisis, the bayanihan spirit of Filipinos will shine through.”

As the biggest and most trusted multi-channel payment platform in the Philippines, Bayad Center remains committed to servicing the Filipino paying public, and making payments convenient and accessible, especially during this time of crisis.





































































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As our world faces one of our most challenging times in history, we are called to do our part in helping prevent the further spread of infections.

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Hand Sanitize

Hand sanitizer, handrub, or hand rub, applied to the hands for the purpose of removing germs. Hand sanitizers typically come in foam, gel, or liquid form.1,3 Their use is recommended to be used always, especially when soap and water are not available for hand washing.




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Body Wash

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September 3, 2020

GCash empowers businesses to thrive in new normal


GCash, the undisputed leader and preferred mobile wallet in the Philippines, is empowering businesses to transition into the new normal, providing a wide variety of digital financial tools and services that enable enterprises of varying sizes to serve their customers and employees.

As the government puts prime emphasis on the development of the digital economy, GCash is leading the financial technology (fintech) industry in providing necessary digital financial tools and services to enterprises that are adapting into the new normal.

“We at GCash are ready to provide critical digital financial tools to our enterprise customers to help them migrate into the digital realm. We fully support the government’s call for aggressive innovation and the shift to new digital technologies to help the economy bounce back,” GCash President Martha Sazon said.

For instance, GCash for Business, the enterprise arm of GCash, is offering a spectrum of business solutions that allow enterprises to integrate digital finance into their everyday operations.

GCash empowers businesses to easily disburse salaries, incentives, and allowances. Enterprises may process payrolls outside the office and during the weekends, as the mobile-first GCash portal is accessible anytime, anywhere, and through any device.

As the leading innovator in the local fintech scene, GCash is also complementing and upgrading the cash management systems of its enterprise partners. GCash provides a customizable and flexible platform manager which helps businesses in timekeeping, managing expenses, and processing employees’ payrolls.

With this, companies may manage HR operations anytime, anywhere -- from payroll disbursement, to creating more awareness, and providing greater rewards for customers. Businesses may offer their customers with a loyalty rewards program through the GCash platform.

Through its innovative and future-ready platform, GCash provides businesses with an employee database that automatically records transactions. This removes the need for manual record-keeping, as merchants have access to a digital transaction log.

“GCash is providing a safe, secure, and convenient platform for merchants to leverage. By partnering with GCash, businesses can easily transition into the so-called new normal, where digital transactions will soon become the norm,” Sazon said.

Department of Finance Secretary Carlos Domiguez earlier urged businesses to aggressively innovate, shift into digital technologies, and identify emerging business opportunities to help restart the economy, which was severely affected by the pandemic.

“We heed to the call of the government to promote digital technologies, and fintech could empower businesses to thrive in the new order. By digitalizing their operations, businesses may jumpstart their operations with a wider audience as they are now not limited by location,” Sazon said.

GCash currently has over 75,000 partner merchants across the archipelago, and this is expected to rise as more online businesses pop up to cope with the economic impact of the pandemic. GCash has also partnered with over 400 billers to provide bills payment solutions to GCash users.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

Interested businesses may schedule an appointment with a GCash Sales representative through https://www.gcash.com/business.

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