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苏轼Lei Jun's Letter to Investors: Confidence in Millet's Future Growth _IT News

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    Tencent "Front Line" author Wang Pan on March 19, Millet Group announced its fourth quarter and full-year earnings as of December 31, 2018. In the fourth quarter of 2018, millet group's revenue was 44.42 billion yuan, up 26.5% year-on-year, lower than the market forecast of 46.24 billion yuan. The adjusted profit in the quarter was 1.85 billion yuan, an increase of 236.7% over the same period last year. In the whole year of 2018, the total revenue of millet group was 174.9 billion yuan, an increase of 52.6% over the previous year. The adjusted profit was 8.6 billion yuan, an increase of 59.5% over the same period last year. At the same time, Minmi founder Lei Jun also issued an open letter to investors. Lei Jun said in his letter that he is confident of the continued growth of millet in the future. The following is the full text of Lei Jun's open letter: Respected millet investment and all friends who care about millet: Hello! When you read this letter, we have just released our financial report for the whole year of 2018, and we are sending you the answers to our work in the past year. Compared with the specific growth data in the earnings report, I would like to show you more about the origin of millet's letter at a time when the global economy is facing challenges. Why does millet persist in struggling and succeed in the end? In 2018, a series of adjustments laid the cornerstone of millet's long-term development. The courage and confidence to face challenges and persevere in struggle are more precious than diamonds. In 2018, millet has maintained a high growth momentum in the global downturn of smart terminals and in the context of Sino-US trade frictions. In 2018, millet revenue was 174.9 billion yuan, an increase of 52.6% over the previous year, and adjusted net profit was 8.6 billion yuan, an increase of 59.5% over the previous year, which exceeded market expectations. More specific figures you will see in the financial report, but behind the figures, we have successfully implemented a series of proactive adjustments, combing the nuclear strategy for the next five years, is a more far-reaching key action. This is the most important achievement in 2018. Following the thinking, planning and preparation over the past few years, in 2018 we launched the restructuring of the company after the IPO. Firstly, we should strengthen the functions of company headquarters, set up group organization department and Staff Department to make "brain" stronger and make decisions farther. At the same time, we restructured a series of business departments, accelerated the process of organizational efficiency improvement and diversification of interconnection and other businesses, and appointed and promoted a group of experienced and energetic young managers. This is the first year of the overall upgrading of millet management. 2018 is the year of AIoT's emergence. AIoT has been recognized as the next nuclear opportunity and the "super internet" of the new era. Over the past few years, our investments in AI and IoT have given us a remarkable lead. In order to turn advantage into victory, we upgraded our nuclear strategy to "mobile AIoT" dual engine. In the next five years, we will invest at least 10 billion yuan in AIoT. At the same time, for the mobile phone business, we also successfully completed the combing of our brand in the fourth quarter of 2018, as well as the active adjustment of product structure and release rhythm. From the beginning of 2019, we can face the market with a brand new look and rhythm, successfully launch the independent multi-brand strategy of millet and Redmi brand, release two brand-upgraded brand-new products and achieve great success. Redmi Note 7 has shipped more than 1 million units in less than a month, and the supply of our new flagship millet 9 series is also expected to exceed 1.5 million units by the end of March. Today, we are on the eve of 5G spring. In the 5G era, the global smartphone market will bring us tremendous opportunities. 小米继续在创新、质量和交付方面奠定坚实的基础,并逐年加大研发投入。It is also ready to win a new outbreak in the 5G era. We are also increasing investment in R&D, continuously improving R&D management and incentive mechanism, and building the best team of engineers for tens of thousands of people. In the past year, millet R&D investment exceeded 5.8 billion yuan, an increase of 83.3% over the previous year, and a compound growth rate of 66.2% over the past three years. This is undoubtedly a great move for a start-up company that has been established for less than nine years. As you can see, resolute investment in technology has provided a strong impetus for our high-speed growth in performance. While maintaining high growth, the successful implementation of these adjustments is extremely difficult, requiring courage and determination and the concerted efforts of tens of thousands of people. 托德

Tencent " Front Line" author Wang Pan on March 19, Millet Group announced its fourth quarter and fullyear earnings as of December 31, 2018. In the fourth quarter of 2018, millet group' s revenue was 44. 42 billion yuan, up 26. 5 yearonyear, lower than the market forecast of 46. 24 billion yuan. The adjusted profit in the quarter was 1. 85 billion yuan, an increase of 236. 7 over the same period last year. In the whole year of 2018, the total revenue of millet group was 174. 9 billion yuan, an increase of 52. 6 over the previous year. The adjusted profit was 8. 6 billion yuan, an increase of 59. 5 over the same period last year. At the same time, Minmi founder Lei Jun also issued an open letter to investors. Lei Jun said in his letter that he is confident of the continued growth of millet in the future. The following is the full text of Lei Jun' s open letter: Respected millet investment and all friends who care about millet: Hello! When you read this letter, we have just released our financial report for the whole year of 2018, and we are sending you the answers to our work in the past year. Compared with the specific growth data in the earnings report, I would like to show you more about the origin of millet' s letter at a time when the global economy is facing challenges. Why does millet persist in struggling and succeed in the end? In 2018, a series of adjustments laid the cornerstone of millet' s longterm development. The courage and confidence to face challenges and persevere in struggle are more precious than diamonds. In 2018, millet has maintained a high growth momentum in the global downturn of smart terminals and in the context of SinoUS trade frictions. In 2018, millet revenue was 174. 9 billion yuan, an increase of 52. 6 over the previous year, and adjusted net profit was 8. 6 billion yuan, an increase of 59. 5 over the previous year, which exceeded market expectations. More specific figures you will see in the financial report, but behind the figures, we have successfully implemented a series of proactive adjustments, combing the nuclear strategy for the next five years, is a more farreaching key action. This is the most important achievement in 2018. Following the thinking, planning and preparation over the past few years, in 2018 we launched the restructuring of the company after the IPO. Firstly, we should strengthen the functions of company headquarters, set up group organization department and Staff Department to make " brain" stronger and make decisions farther. At the same time, we restructured a series of business departments, accelerated the process of organizational efficiency improvement and diversification of interconnection and other businesses, and appointed and promoted a group of experienced and energetic young managers. This is the first year of the overall upgrading of millet management. 2018 is the year of AIoT' s emergence. AIoT has been recognized as the next nuclear opportunity and the " super internet" of the new era. Over the past few years, our investments in AI and IoT have given us a remarkable lead. In order to turn advantage into victory, we upgraded our nuclear strategy to " mobile AIoT" dual engine. In the next five years, we will invest at least 10 billion yuan in AIoT. At the same time, for the mobile phone business, we also successfully completed the combing of our brand in the fourth quarter of 2018, as well as the active adjustment of product structure and release rhythm. From the beginning of 2019, we can face the market with a brand new look and rhythm, successfully launch the independent multibrand strategy of millet and Redmi brand, release two brandupgraded brandnew products and achieve great success. Redmi Note 7 has shipped more than 1 million units in less than a month, and the supply of our new flagship millet 9 series is also expected to exceed 1. 5 million units by the end of March. Today, we are on the eve of 5G spring. In the 5G era, the global smartphone market will bring us tremendous opportunities. xiao mi ji xu zai chuang xin zhi liang he jiao fu fang mian dian ding jian shi de ji chu, bing zhu nian jia da yan fa tou ru. It is also ready to win a new outbreak in the 5G era. We are also increasing investment in R D, continuously improving R D management and incentive mechanism, and building the best team of engineers for tens of thousands of people. In the past year, millet R D investment exceeded 5. 8 billion yuan, an increase of 83. 3 over the previous year, and a compound growth rate of 66. 2 over the past three years. This is undoubtedly a great move for a startup company that has been established for less than nine years. As you can see, resolute investment in technology has provided a strong impetus for our highspeed growth in performance. While maintaining high growth, the successful implementation of these adjustments is extremely difficult, requiring courage and determination and the concerted efforts of tens of thousands of people. tuo de

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