XIAOMI(HK:01810) Zheng Quan Shi Bao Wang·2025-05-28 04:27Group 1 - The core viewpoint of the article highlights that Xiaomi's electric vehicle (EV) division has achieved a remarkable gross margin of 23.2% in Q1 2025, surpassing competitors like NIO and Xpeng, as well as traditional luxury brands such as Mercedes-Benz and Porsche [2][3] - Xiaomi's gross margin has been consistently increasing, rising from 20.4% in the previous quarter to 23.2% in the latest quarter, marking a continuous upward trend since the launch of its automotive business [3] - The success of Xiaomi's SU7 model is identified as a key driver for the high gross margin, with the company emphasizing that strong product capabilities lead to a lack of competition, thereby ensuring profitability [3] Group 2 - The Xiaomi YU7 model has sparked controversy due to its use of consumer-grade chips, which some industry experts believe may impact pricing strategies and profitability [4][5] - Xiaomi's choice of consumer-grade chips is seen as a cost-reduction strategy, but it raises concerns about performance limitations and potential safety issues, especially in the context of a competitive market [5][6] - The ongoing price war in the automotive industry has led to warnings from industry leaders about potential risks to quality and safety, with calls for a balanced approach to pricing and innovation to ensure consumer safety [6][7]