XIAOMI(HK:01810) Sou Hu Cai Jing·2025-03-25 10:42Group 1 - Lei Jun, founder of Xiaomi, shared a photo of the YU7 SUV with cherry blossoms at Wuhan University, highlighting a personal connection to his alma mater [1] - In a speech to students, Lei Jun emphasized Xiaomi's strategy of maintaining low hardware profit margins, promising not to exceed a 5% gross margin, which has contributed to the company's high value-for-money perception [6] - Xiaomi's 2024 financial report indicated a total revenue of 365.9 billion yuan, a 35% year-on-year increase, and an adjusted net profit of 27.2 billion yuan, up 41.3%, marking a historical high [8] Group 2 - The YU7 SUV is positioned as Xiaomi's first SUV, aiming to penetrate the mainstream market, with plans for a pre-launch in December 2024 and a market release in mid-2025, directly competing with Tesla's Model Y [10] - The YU7 has completed extensive road testing and is open to comparisons with Tesla, showcasing Xiaomi's confidence in its new vehicle [10] - The smart electric vehicle segment contributed 32.8 billion yuan in revenue for Xiaomi, although it reported a net loss of 6.2 billion yuan due to significant initial R&D and production investments [8]