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0Episode: Xiaomi Q2: Another 100 Billion Yuan Quarter
Duration: approximately 7 minutes
Level: B1 (Intermediate)
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[Mike]: Welcome back to "Learn English with Podcasts"! Sarah, guess what. I just counted the Xiaomi devices in my apartment. Do you know how many there are? Eight. My phone, my watch, my earphones, and even my rice cooker.
zh:欢迎回到"Learn English with Podcasts"！Sarah，你猜怎么着。我刚数了数我公寓里的小米设备。你知道有多少个吗？八个。手机、手表、耳机，连我的电饭煲都是。
[Sarah]: Eight Xiaomi things in one apartment? That is an ecosystem, not a home. But wait, why are you telling me this today?
zh:一个公寓里八件小米产品？那已经是个生态系统了，不是家。不过等等，你今天为什么跟我说这个？
[Mike]: Because this week, Xiaomi told the world how much money it makes. On August 18, it shared its numbers for the second quarter of 2026. And the first number is a big one: 108.9 billion yuan in a single quarter.
zh:因为这周，小米向世界公布了它赚了多少钱。8月18日，它公布了2026年第二季度的业绩。而第一个数字就很大：一个季度营收1089亿元。
[Sarah]: 108.9 billion yuan in just three months? That is... a lot of rice cookers.
zh:就三个月就营收1089亿元？那是……好多电饭煲啊。
[Mike]: Ha, it is! And here is the part that surprised me the most. The fastest-growing business is not the phone. It is the car.
zh:哈，可不是嘛！而最让我意外的是这个。增长最快的业务不是手机，而是汽车。
[Sarah]: The car? Xiaomi makes cars now? I thought they only made phones.
zh:汽车？小米现在做汽车了？我还以为他们只做手机。
[Mike]: They do both, and the car business is flying. In the second quarter, Xiaomi delivered 104,199 electric cars. That is more than 1,000 cars every day.
zh:两个都做，而汽车业务正在起飞。二季度，小米交付了104,199辆电动汽车。相当于每天交付超过一千辆。
[Sarah]: More than 1,000 cars a day? I cannot even cook rice that fast. So does the car business make money?
zh:每天一千多辆？我煮米饭都没这么快。那汽车业务赚钱吗？
[Mike]: It brought in 24.9 billion yuan this quarter. And its new SU7 is the best-selling pure electric car above 200,000 yuan in China. Its other car, the YU7, is number one for keeping its value after one year.
zh:这个季度它带来了249亿元收入。而新款SU7是中国20万以上纯电轿车里的销量冠军。另一款车YU7，一年后保值率排名第一。
[Sarah]: Wait, the YU7 keeps its value better than other electric cars? A phone company's car holds its price better than real car companies' cars. I have to think about that one.
zh:等等，YU7比其他电动汽车更保值？一家手机公司造的车，比真正的汽车公司的车还保值。这个我得琢磨琢磨。
[Mike]: I know, right? Now, are you ready for the second surprise? Xiaomi's phones are getting more expensive, and people are happy to pay.
zh:对吧！现在，准备好听第二个意外了吗？小米的手机在变贵，而人们很乐意买单。
[Sarah]: More expensive phones, and people like it? That sounds backwards. Usually we want things to get cheaper.
zh:手机变贵，大家还喜欢？这听起来反过来了。通常我们都希望东西越来越便宜。
[Mike]: Xiaomi phones now cost on average 25.9% more than last year. That is because people are buying the pricier models. Phones above 3,000 yuan now make up 32% of Xiaomi's domestic sales, a record high.
zh:小米手机现在的平均售价比去年上涨了25.9%。这是因为人们在买更贵的机型。3000元以上的手机现在占小米国内销量的32%，创下历史新高。
[Sarah]: So "cheap Xiaomi" is becoming "premium Xiaomi." But does the rest of the world notice? I mean, Xiaomi is a Chinese company, right?
zh:所以"平价小米"正在变成"高端小米"。那世界其他地方注意到了吗？我是说，小米是中国公司，对吧？
[Mike]: It is, but it is everywhere. Xiaomi has been in the global top three for phone shipments for 24 straight quarters. And in 53 countries, it is the number one, two, or three seller.
zh:是，但它无处不在。小米已经连续24个季度稳居全球手机出货量前三。而在53个国家里，它都是销量第一、第二或第三。
[Sarah]: 53 countries! So when I travel, I will see Xiaomi shops everywhere. What about the other things, the rice cooker, the watch, the earphones?
zh:53个国家！那我出国旅行时，会到处看到小米门店。那其他东西呢——电饭煲、手表、耳机这些？
[Mike]: That is the smart home side, and it is huge. This quarter, Xiaomi made 31.3 billion yuan from those products. And it says 1.16 billion devices are now connected to its smart home platform.
zh:那就是智能家居这块，非常庞大。这个季度，小米从这些产品上赚了313亿元。而它说，目前有11.6亿台设备连接着它的智能家居平台。
[Sarah]: 1.16 billion devices... There are more Xiaomi gadgets on earth than there are people in Europe. My toaster feels very lonely now.
zh:11.6亿台设备……地球上的小米小玩意比欧洲的人口还多。我的面包机现在觉得自己好孤单。
[Mike]: Ha! And here is where the money really comes from. Xiaomi's apps, the software inside all those phones, made 9 billion yuan. And that business has a margin of almost 77%.
zh:哈！而真正赚钱的地方在这里。小米的应用——就是那些手机里的软件——赚了90亿元。而这个业务的毛利率接近77%。
[Sarah]: 77%! So selling a phone makes a little, but the software inside it makes a lot. The phone is the door, and the apps are the shop.
zh:77%！所以卖手机赚得少，但手机里的软件赚得多。手机是门，应用是店铺。
[Mike]: Exactly. And Xiaomi is putting a lot of that money back into new ideas. This quarter alone, it spent 9.2 billion yuan on research. And its new AI model, MiMo V2.5, is now the most used model on OpenRouter, a popular AI platform.
zh:没错。而小米把很多钱又投回新想法上。仅这个季度，它就在研发上花了92亿元。而它的新AI模型MiMo V2.5，现在成了热门AI平台OpenRouter上使用量最大的模型。
[Sarah]: Their AI model is number one? A phone-and-car company is beating the AI companies at their own game?
zh:它们的AI模型排名第一？一家做手机和汽车的公司，在AI公司自己的赛场上赢了它们？
[Mike]: For this week, yes. So think about it. Xiaomi started as a cheap phone. Now it sells cars, watches, earphones... and its brain is inside everything you own.
zh:至少这周是这样。所以想想看。小米从一部便宜的手机起步。现在它卖汽车、手表、耳机……而它的大脑住进你拥有的每一样东西里。
[Sarah]: You know, after hearing you, I counted my devices. My phone is Xiaomi. My lamp? Xiaomi. My toothbrush? Also Xiaomi. Maybe I should buy the car too and finish the collection.
zh:你知道吗，听完你的话我也数了数我的设备。手机是小米。台灯？小米。牙刷？也是小米。也许我该把车也买了，集齐全套。
[Mike]: Ha, a full Xiaomi family! Just remember: their cars hold their value. Your toothbrush might not.
zh:哈，一整套小米家族！只要记住：他们的车保值。你的牙刷可不一定。
[Sarah]: True. The car holds value, the toothbrush just holds my teeth. Thanks for listening to "Learn English with Podcasts", see you next time!
zh:说得对。汽车保值，牙刷只管保住我的牙。感谢收听"Learn English with Podcasts"，下次见！
[Mike]: And hey, if you ever wonder where Xiaomi is going next... just look around your home. It is probably already there. Bye!
zh:还有，如果你想知道小米下一步要去哪……就看看你家里吧。它可能已经在那了。再见！
