Core Viewpoint - Xiaomi is facing significant challenges in ramping up production capacity for its new electric vehicle, the YU7, which has seen overwhelming demand leading to extended delivery times of up to a year for some models [3][4][6]. Production Capacity - The YU7 has a delivery time of 9 months to over a year, with the standard version estimated at 58-61 weeks and the Pro version at 51-54 weeks [3][4]. - Currently, all Xiaomi vehicles are produced at the first phase factory in Beijing, which has a designed annual capacity of 150,000 units but has been pushed to produce approximately 36,500 units annually, a 140% increase from its original plan [7][8]. - The second phase factory, set to be completed in mid-June, will also have a capacity of 150,000 units per year and is expected to start production in July or August [4][10]. Competitive Landscape - Competitors are actively trying to capture Xiaomi's potential customers during this production bottleneck, offering incentives such as cash bonuses for switching orders [5][14]. - The electric SUV market is highly competitive, with established players like Tesla and emerging brands like NIO and Xpeng vying for market share [5][19]. Market Dynamics - The upcoming reduction in tax incentives for electric vehicles in 2024 and 2025 could impact consumer purchasing decisions, potentially increasing the cost of the YU7 by over 10,000 yuan due to tax changes [6][24]. - Xiaomi's ambitious target of delivering 350,000 vehicles this year hinges on its ability to quickly resolve production capacity issues and fend off competitive pressures [6][13]. Production Challenges - Xiaomi's management acknowledges the production challenges and is actively working to improve capacity, with plans for a third factory in Wuhan and Shanghai still in the rumor stage [4][10]. - The YU7's production complexity is heightened by the fact that 90% of its components are newly developed, unlike Tesla's strategy of using shared parts across models [21][23]. Consumer Sentiment - Despite long wait times, Xiaomi's loyal customer base remains patient, but there are concerns that potential buyers may be deterred by the lengthy delivery periods [11][13]. - The brand's strong marketing and product appeal are crucial for retaining customers amidst fierce competition and production delays [23][24].

7月6日，小米YU7正式开启全国交付，覆盖全国58个城市。雷军发文称："今天（6日）下午，小米YU7正式交付首批车主。希望这台车，陪伴每一个热爱 生活的你和你们，解锁更多美好体验。感谢大家的支持与信任！" 极目新闻记者 王鹏 雷军发文称小米YU7今日交付（来源：雷军微博） 有多位网友发视频称，雷军在北京小米科技园亲手给首批YU7车主交付新车，给他们送花，并为他们开车门，情绪价值拉满。一位小米汽车门店的工作人 员告诉极目新闻记者，6日，小米YU7正式开启全国交付，在下午的时候，雷军在北京小米科技园亲手给首批YU7车主交付了新车。从网友发布的视频可 以看到，在北京小米科技园，第一位小米YU7的车主是来自深圳的一位女士，雷军亲自给她送花，为其打开车门，并与她合影。 有首批YU7车主发文称；"今天被雷总宠成'小米公主'啦！提车第一天喜提雷总专属服务，交付现场雷总亲自开车门，雷总真人超亲切，一直在说谢谢。" 雷军为首批小米YU7车主开车门（来源：小米汽车工作人员账号） 据了解，当天北京海淀最高气温为35摄氏度。雷军顶着烈日亲手向首批车主交车。 据其他媒体此前报道，6月26日晚7时，小米首款SUV，小米YU7正式发布。据 ...

Investment Rating - The report maintains a "Positive" investment rating for the automotive industry, particularly focusing on the mid-to-high-end market and strong alpha companies [3][4]. Core Insights - The Chinese automotive market is transitioning between the third and fourth consumption eras, with a notable expansion in mid-to-large SUVs and personalized products, indicating untapped consumer potential [4]. - The report emphasizes the importance of innovative supply to stimulate market demand, highlighting products like Yu7, Zun Jie S800, and upcoming models from Li Auto as key drivers [4]. - The report suggests continued attention to strong alpha manufacturers such as Li Auto, JAC, Xiaomi, and Seres, as well as their corresponding supply chain companies [4]. Industry Update - Retail sales of passenger cars reached 570,000 units in the 26th week of 2025, with a month-on-month decrease of 1.38%. Traditional energy vehicles sold approximately 274,000 units, down 7.43%, while new energy vehicles sold 296,000 units, up 4.96%, achieving a penetration rate of 51.93% [4]. - The automotive industry experienced a total transaction value of 425.645 billion yuan this week, reflecting a week-on-week decrease of 5.01% [4]. - The automotive industry index rose by 0.10% this week, while the Shanghai and Shenzhen 300 index increased by 1.54%, indicating that the automotive sector's performance was below the broader market [11]. Market Conditions - The report notes that 123 automotive stocks rose while 159 fell this week, with the largest gainers being TaoTao Automotive, Hunan Tianyan, and Zhengyu Industrial, which saw increases of 29.8%, 21.0%, and 18.3%, respectively [15]. - Key events include the launch of the Xiaopeng G7, which exceeded pricing expectations and features advanced autonomous driving capabilities, and the opening of BYD's factory in Brazil, enhancing its presence in the Latin American market [5][8]. Investment Recommendations - The report recommends focusing on domestic strong alpha manufacturers such as BYD, Geely, and Xiaopeng, as well as companies involved in the trend of smart technology, including Jianghuai Automobile and Seres [4]. - It also suggests monitoring state-owned enterprise reforms, particularly with SAIC Motor, and identifying component manufacturers with strong growth potential, such as Fuyao Glass and New Spring [4]. Key Events - Xiaopeng G7 was launched with a starting price of 195,800 yuan, featuring advanced AI capabilities and a significant increase in autonomous driving performance [5][41]. - BYD's new factory in Brazil aims for an annual production capacity of 150,000 vehicles, with plans to expand to 300,000 units, marking a significant step in its global strategy [8][9].

摘要 ► 本 周数据： 2025年6月第4周（6.23-6.29）乘用车销量57.9万辆，同比+8.0%，环比+3.7%；新能源乘用车销量29.8万辆，同比+26.7%，环比+4.4%；新能源渗透率51.6%，环比 +0.3pct。 ► 本周行情 ： 汽车板块本周表现弱于市场 本周（6月30日-7月4日）A股汽车板块上涨0.65%，在申万子行业中排名第22位，表现弱于沪深300（+1.80%）。细分板块中，商用载客车、汽车零部件、汽车服 务、摩托车及其他、乘用车、商用载货车分别上涨4.91%、-0.62%、1.70%、5.68%、1.43%、0.69%。 ► 本周观点： 本月建议关注核心组合【吉利汽车、比亚迪、理想汽车、小鹏汽车、小米集团、伯特利、拓普集团、新泉股份、沪光股份、春风动力】。 ► 2024全球汽车零部件百强：德、日主导，中国零部件空间可期 乘用车： 看好智能化、全球化加速突破的优质自主，推荐 【吉利汽车、比亚迪、理想汽车、小米集团（与电子组联合覆盖）、小鹏汽车、赛力斯】 。 零部件：1）智能化： 推荐智能驾驶- 【伯特利、地平线机器人、科博达】 ，推荐智能座舱- 【继峰股份】；2）新势力产业链： ...

Group 1 - Xiaomi YU7 officially commenced nationwide delivery on July 6, covering 58 cities, with Lei Jun personally delivering the first cars to customers [1] - Li Xiang, CEO of Li Auto, emphasized the importance of Xiaomi fully committing to the automotive sector for success, acknowledging Lei Jun's hardware capabilities [2] - NIO's founder Li Bin announced that the starting price for the upcoming L90 model will be below 300,000 yuan, with a product technology launch event scheduled for July 10 [4] Group 2 - Tesla Model 3 received the highest score of 359 in the Euro NCAP safety tests, making it the safest new car in the European market for 2025 [3][4]

olaDAO数字游民空间 . olaDAO数字游民社区是一个以DAO分布式自治社区为思维框架，以人居环境理念为指导原则的实体空 间，聚集包含不限定于科技及人文等领域的数字游民、研究者和探索者，营造具有价值认同的社区生 态，让人成为人。 以下文章来源于olaDAO数字游民空间 ，作者双桨嘻嘻 本文来自微信公众号： olaDAO数字游民空间 ，作者：双桨嘻嘻，原文标题：《居住成为消费配 套，会是商业地产新一轮的机会吗》，头图来自：AI生成 "空间内容化"的转型本质——当硬件溢价失效时，"情绪价值生产"能力将成为新货币。大量新空间内 容和空间形式的出现会成为商业地产重焕生机的开始吗？ 6月的最后一天，小米行政发文，小米在北京、南京上线了一批青年公寓，租金1999元，这个和雷总 紧紧绑定的数字。7月1日，雷军本人也在微博表示，这是为小米年轻工程师打造的员工公寓。 网友们苦租房市场已久，不少人在微博下许愿雷总"打脸"进入房地产，整顿整顿行业，像造车一样。 其实早在十多年前雷总旗下顺为资本就投资过一个叫做you+的长租公寓，颇有风口之感。本人也有 幸在大学之时就见证了长租公寓的快速发展到陨落，在上海蛋壳公寓做了一阵子的销 ...

7月6日下午，雷军发文：今天下午，小米YU7正式交付首批车主。 希望这台车，陪伴每一个热爱生活的你和你们，解锁更多美好体验。感谢大家的支持与信任！ SFC 本期编辑 江佩佩 张嘉钰 此前报道 6月26日晚，小米首款SUV，小米YU7正式发布。据雷军介绍，小米YU7最大马力690PS，最 高时速253km/h，零百加速3.23s。 发布会上，雷军公布小米YU7价格：标准版25.35万、Pro版27.99万、Max版32.99万。该车开 售3分钟大定突破20万台，1小时大定突破28.9万台，仅18小时锁单量便突破24万台。 小米YU7今天上午10点改配。 此前，雷军发文称小米YU7将开启限时改配，7月6日上午10:00到7月7日晚上24点，锁单用户 (非准现车)都可参与改配。如改配成功，将重新安排生产并重新预计交付时间。此次改配仅限 YU7标准版/Pro/Max之间进行版本修改，或对YU7订单配置进行修改。 7月5日下午，小米汽车发文称小米YU7交付，将于7月6日正式开启。覆盖全国58个城市。 来源：小米汽车微博、红星新闻 21君荐读 5000元定金可报销，小米YU7订单遭多家友商"截胡"！蔚来、智界、极氪统统出 ...

7月6日下午，雷军发文：今天下午，小米YU7正式交付首批车主。 希望这台车，陪伴每一个热爱生活的你和你们，解锁更多美好体验。感谢大家的支持与信任！ 6月26日晚19:00，小米首款SUV，小米YU7正式发布。据雷军介绍， 小米YU7 最大马力690PS，最高 时速253km/h，零百加速3.23s。 发布会上，雷军公布小米 YU7价格：标准版25.35万、Pro版 27.99万、Max版32.99万 。该车开售3分 钟大定突破20万台，1小时大定突破28.9万台，仅18小时锁单量便突破24万台。 小米 YU 7今天上午10点改配。 END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 实探风暴中的罗马仕！周末凌晨突发停工通知，公司安保森严！员工懵圈：上周末还加班到凌晨 12点！ 丨 突发！财政部、商务部发声，今起执行！ 丨 美团、阿里同步放大招！"补贴对决"暑期档开 启，有人抢到2元一杯咖啡…… 丨 "美国党"成立！马斯克重大宣布！ 丨 A股公司退市近一年后，又 收罚单！ 丨 关税最新！特朗普：8月1日生效，最高税率或达70% 丨 ...

来源：红星新闻综合东方财经等 7月6日下午， 雷军 发文： 今天下午，小米YU7正式交付首批车主。 希望这台车，陪伴每一个热爱生活的你和你们，解锁更多美好体验。感谢大家的支持与信任！ xlaoml YU7 此前报道： 6月26日晚19:00，小米首款SUV，小米YU7正式发布。据雷军介绍， 小米YU7 最大马力690PS，最高时 速253km/h，零百加速3.23s。 发布会上，雷军公布小米 YU7价格：标准版25.35万、Pro版 27.99万、Max版32.99万 。 该车开售3 分钟大定突破20万台，1小时大定突破28.9万台，仅18小时锁单量便突破24万台。 小米 YU 7今天上午10点改配。 此前，雷军发文称小米YU7将开启限时改配，7月6日上午10:00到7月7日晚上24点，锁单用户(非 准现车)都可参与改配。 如改配成功，将重新安排生产并重新预计交付时间。 此次改配仅限 YU7 标准版/Pro/Max之间进行版本修改，或对YU7订单配置进行修改。 7月5日下午，小米汽车发文称小米YU7交付，将于7月6日正式开启。覆盖全国58个城市。 "中方不得不采取对等限制措施" ...

小米上市 AI 眼镜、YU7 及众多全生态新 品，关注存储价格反弹 ——先进科技主题 20250623-20250629 [Table_ReportInfo] 相关报告： ——2025 年 06 月 23 日 《北美大厂指引 AI 芯片需求强劲，AMD 发 布 Instinct MI350 系列 GPU》 ——2025 年 06 月 21 日 【市场回顾】 ◆ 本周上证指数报收 3424.23 点，周涨跌幅为+1.91%；深证成指报 收 10378.55 点，周涨跌幅为+3.73%；创业板指报收 2124.34 点，周涨跌幅为+5.69%；沪深 300 指数报收 3921.76 点，周涨跌 幅为+1.95%。中证人工智能指数报收 1337.44 点，周涨跌幅 +5.24%，板块与大盘走势一致。 [Table_Rating] 增持（维持） [◼Table_Summary] 主要观点 [Table_QuotePic] 最近一年行业指数与沪深 300 比较 -12% -4% 3% 11% 19% 27% 34% 42% 50% 07/24 09/24 11/24 02/25 04/25 06/25 电子 沪深300 ...