Comparison of Xiaomi, Huawei, and 2025 Annual Reports

Xiaomi vs. Huawei: Comparison of 2025 Annual Reports

〖Huawei releases its 2025 annual report: Operating results meet expectations〗

◇ Global sales revenue: RMB 880.9 billion

◇ Net profit: RMB 68.0 billion

◇ R&D spending in 2025 reached RMB 192.3 billion, about 21.8% of full-year revenue

◇ Cumulative R&D spending over the past decade exceeded RMB 1,382.0 billion

【Xiaomi 2025 financial report】

◇ Global revenue: RMB 457.3 billion

◇ Net profit: RMB 39.2 billion

◇ R&D spending in 2025 reached RMB 33.1 billion, up 37.8% year over year

◇ Total number of R&D personnel: 25,457, setting a new historical high

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