XIAOMI(HK:01810) Sou Hu Cai Jing·2025-09-24 03:09Core Insights - Xiaomi is simultaneously advancing its automotive and semiconductor businesses, which has created significant decision-making pressure for the company, likening it to the challenge of supporting two children in college [1][4]. Automotive Sector - Since the launch of its first model, the SU7, in 2024, Xiaomi has delivered over 180,000 vehicles. By 2025, the company plans to establish a product matrix that includes the SU7 and YU7, covering both sedans and SUVs. The second phase of the Beijing Yizhuang factory will achieve an annual production capacity of 300,000 vehicles, while the Wuhan factory is set to commence operations in 2026 [3]. - Technological advancements include the implementation of an 800V high-voltage platform, the self-developed Xiaomi Pilot intelligent driving system, and the Kirin battery developed in collaboration with CATL [3]. Semiconductor Sector - Xiaomi began its semiconductor journey in 2017 with the launch of the Surge S1 chip and has since developed a range of self-researched chips for imaging, charging, battery, and communication. The upcoming release of the Xuanjie O1 chip in 2025 will utilize second-generation 3nm technology, marking Xiaomi as the fourth company globally capable of designing a 3nm mobile processor, thus enhancing the integration of software and hardware for high-end smartphones [3].