XIAOMI(HK:01810) Sou Hu Cai Jing·2025-04-29 23:20Core Viewpoint - Xiaomi is currently facing two significant crises: a fatal car accident involving its smart driving technology and allegations of excessive working hours for employees, which are putting pressure on the company's reputation and leadership [1][3][10]. Group 1: Smart Driving Incident - A serious car accident occurred involving a Xiaomi SU7, resulting in the deaths of three young women, raising questions about the safety of its smart driving technology [5][6]. - The accident has led to increased scrutiny from regulatory bodies, with the Ministry of Public Security warning against misleading marketing practices in the smart driving sector [8]. - Following the incident, Xiaomi's founder Lei Jun has adopted a low profile, reducing his public presence and engagement, which contrasts sharply with his previously active and approachable image [8][10]. Group 2: Employee Working Conditions - Reports indicate that Xiaomi requires employees to work an average of at least 11.5 hours per day, with some groups facing even longer hours, leading to concerns about labor practices [3][5]. - The company's management practices may violate labor laws, including excessive overtime and lack of written documentation for work conditions, which could expose Xiaomi to legal risks [5]. - Despite the controversies, Xiaomi's financial performance remains strong, with projected revenue growth of 35% to 365.9 billion yuan and a net profit increase of 41% to 27.2 billion yuan in 2024 [10].