The elementary excitation spectra of a one-dimensional ferrimagnetic diamond chain in the spin-1/2 XY model at low temperatures have been calculated by using an invariant eigen-operator (IEO) method, the energies of elementary excitations in different specific cases are discussed, and the analytic solutions of three critical magnetic field intensities (HC1, HC2, and Hpeak) are given. The magnetization versus external magnetic field curve displays a 1/3 magnetization plateau at low temperatures, in which HC1 is the critical magnetic field intensity from the disappearance of the 1/3 magnetization plateau to spin-flop states, HC2 is the critical magnetic field intensity from spin-flop states to the saturation magnetization, and Hpeak is the critical magnetic field intensity when the temperature magnetization shows a peak in the external magnetic field. The temperature dependences of the magnetic susceptibility and the specific heat show a double peak structure. The entropy and the magnetic susceptibility versus external magnetic field curves also exhibit a double peak structure, and the positions of the two peaks correspond to HC1 and HC2, respectively. This derives from the competition among different types of energies: the temperature-dependent thermal disorder energy, the potential energy of the spin magnetic moment, the ferromagnetic exchange interaction energy, and the anti-ferromagnetic exchange interaction energy. However at low temperatures, the specific heat as a function of external magnetic field curve exhibits minima at the above two critical points (HC1 and HC2). The origins of the above phenomena are discussed in detail.