Interpretation and preview of Xiaomi's Q4 earnings report: The performance is impressive but the stock price is under pressure. What are the hidden concerns about Xiaomi's high-end path?

On March 24, $XIAOMI-W(01810.HK)$ Announced the results report for the fourth quarter of 2020.
Fourth quarter of 2020, Xiaomi GroupTotal revenue reached RMB 70.5 billion, a year-on-year increase of 24.8%; adjustedNet profit reached RMB 3.2 billion, an increase of 36.7% over the previous year.

Xiaomi Group 2020Annual revenue of RMB 245.87 billion, the market estimates RMB 247.76 billion; after adjustment for the whole yearNet profit of RMB 13.01 billion。

Xiaomi phones delivered excellent results in 2020, with shipments of 146 million units, an increase of 17.5% over the previous year, and revenue reaching 152.2 billion yuan, an increase of 24.6% over the previous year. In 2019, the revenue growth rate of Xiaomi smart phones was only 7.3%.

In 2020, there was a marked decline in Huawei's shipments to the global market, while Xiaomi and Apple both achieved positive growth. In Europe in particular, Xiaomi has taken over quite a few markets and reached number one in Central and Eastern Europe for the first time.

However, judging from this financial report, there are also hidden concerns about Xiaomi hidden beneath the surface of the water.
What is this hidden concern? For Xiaomi, what does it mean?

Tonight, let's meet with Mr. Luo Chao, a financial expert in the industry, at 8 o'clock to watch the live interpretation of Xiaomi's financial report~