XIAOMI(HK:01810) Sou Hu Cai Jing·2025-06-03 10:22Core Insights - Xiaomi's first SUV, the Xiaomi YU7, is set to officially launch in July, with pricing details to be confirmed shortly before the release [1][4] - The company is experiencing a gradual reduction in losses from its automotive business, with expectations to achieve profitability in Q3 to Q4 of this year [1][5] - Xiaomi has invested a total budget of 3.5 billion RMB in the development of intelligent driving for the YU7, positioning itself competitively within the industry [4] Group 1 - The Xiaomi YU7 has begun static showcases in 43 stores across Shanghai, Hangzhou, and Chengdu [1] - Lei Jun, Xiaomi's CEO, emphasized the company's stance against "involution" and price wars, indicating that the YU7's price will not align with rumors of 235,900 RMB [1][4] - The first quarter financial report for 2025 showed that Xiaomi's revenue from smart electric vehicles and AI reached 18.6 billion RMB, with a gross margin of 23.2% [5] Group 2 - The number of user registrations for the YU7 has tripled compared to the previous year's SU7, indicating a broader audience appeal [7] - Xiaomi has been investing in robotics for five years, with ongoing development of automotive chips expected to launch soon [1][7] - Competitors in the automotive market, such as BYD and Geely, have initiated significant price cuts on their models, indicating a competitive pricing environment [4]