Xiaomi reported a strong third quarter, marking a significant milestone in its electric vehicle (EV) division. The company achieved its first quarterly profit in the EV segment, generating 700 million yuan, a turnaround from a 300 million yuan loss in the previous quarter. The EV division delivered a record 108,796 vehicles, with a target of 350,000 for the year and plans to expand into Europe by 2027. The overall revenue reached 113.1 billion yuan (approximately 13.7 billion euros), up 22% year-over-year, with a net profit doubling to 12.3 billion yuan, surpassing analyst expectations. The profit attributable to the EV segment contributed significantly to this growth, despite ongoing capacity constraints and long wait times for certain models. Xiaomi's AIoT platform also crossed one billion connected devices, and the company’s total active users reached 741.7 million in September. However, despite these record revenues and profits, Xiaomi's stock has declined over 33% since September due to concerns over margins in its core smartphone business, stiff competition from Apple in China, rising component costs, and challenges in the premium segment. Analysts remain cautious, citing safety concerns, production risks, and increasing short-seller bets, which have pressured the stock, closing 2.81% lower in Hong Kong but still up over 18% for the year. Xiaomi continues to rely on the growth of its EV and AIoT sectors to regain investor confidence amid a challenging market environment.