XIAOMI(HK:01810) Sou Hu Cai Jing·2025-06-27 00:58Core Viewpoint - Xiaomi's recent product launch event showcased over ten new products, including its first SUV model YU7, which received an overwhelming response with significant pre-order numbers, indicating strong market interest and potential for growth in the automotive sector [5][13]. Group 1: Product Launch and Market Response - Xiaomi launched its first SUV model YU7 and other products, achieving 196,000 pre-orders within 2 minutes and exceeding 289,000 within an hour [5]. - The CEO expressed excitement over the strong initial sales, suggesting it may signify a remarkable moment for the Chinese automotive industry [5]. - The company aims to leverage this momentum to enhance its reputation and market position in the automotive sector [6]. Group 2: Competitive Strategy and Market Position - Xiaomi's strategy focuses on core technology and continuous innovation, particularly in electric vehicle technology, to maintain a competitive edge [6][10]. - The company is committed to avoiding price wars and instead aims to move towards high-end market segments [10]. - Xiaomi's CEO emphasized the importance of quality and technological advancement to compete with global automotive leaders [7][8]. Group 3: Industry Insights and Future Outlook - The CEO noted that China's automotive industry has evolved significantly, becoming the largest manufacturing and usage market globally, aided by supportive government policies [8]. - The shift towards smart electric vehicles presents an opportunity for Chinese manufacturers to surpass traditional automotive powerhouses [8]. - Xiaomi's entry into the automotive market is seen as a long-term commitment, with plans to enhance manufacturing capabilities and local supply chains [12][14]. Group 4: Challenges and Reflections - The CEO acknowledged the challenges faced in the automotive sector, including managing public perception and competition, especially in a rapidly evolving market [15]. - There is a recognition of the need for continuous improvement and capability building to sustain growth and address potential market fluctuations [11][15]. - The company is focused on maintaining high standards and adapting to the complexities of the current media landscape [15].