Earnings Report

Xiaomi’s Q2 2025 earnings report reveals a 66.2% year-over-year revenue increase in its smart home appliance segment, with air conditioner shipments exceeding 5.4 million units. Despite intense price competition, Xiaomi President Lu Weibing emphasized the company’s commitment to core technologies over short-term rankings. He expressed confidence in Xiaomi’s major appliance business and predicted its air conditioners will be among China’s top two by 2030. Xiaomi aims to elevate its air conditioner ranking to third this year.

Qfin Holdings (NASDAQ: QFIN) reported Q2 2025 results, with total net revenue of RMB5,215.9 million (US$728.1 million) and Non-GAAP net income of RMB1,849.0 million (US$258.1 million). Loan facilitation volume increased 16.1% YoY to RMB84,609 million and outstanding loan balance rose 13.4% YoY to RMB140,080 million. The platform connects 165 financial institutions and serves 275.8 million users. Despite challenges, Qfin maintained a 93.8% repeat borrower rate and optimized its business mix with 41.4% of loan volume under a capital-light model.

Tencent’s Q2 earnings report reveals a surge in gaming revenue, driven by the continued success of Honor of Kings. Domestic game revenue rose 17% year-over-year to RMB 40.4 billion, with Honor of Kings being a key contributor. AppMagic data shows it as the sole mobile game exceeding $1 billion in H1 revenue. Honor of Kings, celebrating its 10th anniversary, has topped global mobile game revenue for three years and shows impressive growth. Overall game revenue increased by 22%, and international game revenue also surged by 35%, marking the fourth consecutive quarter of record highs.

Hong Kong stocks saw mixed performance, with the Hang Seng Index rising slightly while the Hang Seng Tech Index dipped. U.S.-listed Chinese companies in Hong Kong showed varied results; Alibaba and Baidu declined, but Tencent Music Entertainment (TME) gained, driven by anticipation of strong earnings. TME’s Q2 2025 results revealed a 17.9% YoY revenue increase and a 33% rise in adjusted net profit. Online music services and subscriptions saw significant growth, with paying users reaching 124.4 million. Brokerage firms have issued positive ratings, highlighting TME’s content strategy and user engagement.

Gaotu Techedu Inc. (GOTU) will release its Q2 2025 earnings on August 26th before U.S. markets open, followed by an earnings call at 8:00 AM ET. Investors are focused on the company’s AI-powered learning solutions and growth strategy. Gaotu’s executives are also expected to address the evolving regulatory environment for edtech in China. A replay of the call will be available on Gaotu’s investor relations website until September 2, 2025. Gaotu aims to revolutionize education with personalized AI-driven solutions for all ages.

Zepp Health’s Q2 2025 earnings reveal a strong rebound, with revenue surging to US$59.4 million, a 46.2% year-over-year increase, surpassing company forecasts. Losses narrowed significantly, with GAAP net loss at US$7.7 million and adjusted net loss at US$6.16 million. The company projects Q3 2025 revenue between US$72 million and US$76 million, a 70-79% year-over-year increase. Key to this growth is the Amazfit brand, driven by new products like the Balance 2 and Helio Strap, and boosted by athlete endorsements and effective marketing.

Ezviz Network’s first-half 2025 report reveals revenue of RMB 2.827 billion (up 9.45% YoY) and net profit of RMB 302 million (up 7.38% YoY), fueled by technology investments and market expansion. Operating cash flow surged 911%. Total assets reached RMB 8.416 billion. Their intelligent home entry business, featuring the new AI-powered Qiming Facial Video Lock, is a key growth driver. Ezviz’s smart door locks ranked among the top online sellers during the 618 shopping festival, indicating improved market competitiveness.

Microsoft has joined the $4 Trillion Club, becoming the second company after Nvidia to reach this valuation. Shares surged 8% following a strong Fiscal Year 2025 Q4 earnings report. Microsoft reported a Q4 revenue of $76.44 billion, up 18% year-over-year, driven by AI-powered cloud services. Full-year revenue reached $281.724 billion, a 15% increase. Analysts are optimistic, with Morgan Stanley and JPMorgan Chase raising their price targets. Nvidia first achieved the $4 trillion milestone earlier in July.

Applied Industrial Technologies (AIT) will release its fiscal 2025 fourth-quarter results on August 14, 2025, before market open. An investor conference call will follow at 10 a.m. ET, accessible via webcast and phone. The call will discuss the quarter’s performance and future outlook. Replays will be available. Applied is a major industrial distributor and tech solutions provider serving diverse markets with MRO, OEM, and system install applications.

Tesla investor Ross Gerber criticizes Tesla’s “garbage” Q2 earnings, citing a 12% revenue decline. He attributes the company’s struggles to CEO Elon Musk’s “PR crisis” and believes Musk’s political involvement is alienating consumers, impacting sales. Gerber suggests Musk needs to step back from the public eye to improve Tesla’s image and boost sales. He also advocates for Tesla to release lower-cost models to enhance global competitiveness and believes Tesla is currently in a crisis.