CompaniesChinese tech group plans major R&D investment amid intense competition and regulatory scrutinyXiaomi founder and CEO Lei Jun presents the new generation of SU7 electric sedan at the Chinese tech giant’s launch event in Beijing on March 19. © ReutersNikkei staff writersMarch 24, 2026 20:47 JSTHONG KONG -- Xiaomi recorded a surprise 24% drop in net profit for the fourth quarter of 2025, as the smartphone vendor-turned-electric vehicle maker hit roadblocks amid sluggish sales and intense competition.