XIAOMI(HK:01810) Sou Hu Cai Jing·2025-09-26 03:55Core Insights - Xiaomi has undergone a significant transformation over the past five years, evolving from an "internet company" to a "hardcore technology company" with a focus on core technology investment and innovation [4][13] - The company aims to compete directly with major players like Apple, Samsung, and Huawei, with a commitment to invest 100 billion yuan in core technology research and development over the next five years [4][5] - Xiaomi's recent product launches, including the 3nm flagship SoC and the YU7 SUV, demonstrate its ambition to establish itself in both the smartphone and automotive markets [5][6] Company Transformation - Xiaomi's revenue surpassed 200 billion yuan five years ago, marking its entry into the Fortune Global 500, but the founder expressed ongoing anxiety about competition from industry giants [4] - The company faced skepticism and criticism, which led to internal struggles, prompting a strategic pivot towards technology-driven growth [4][5] - The launch of the 3nm SoC, which positioned Xiaomi among the top four companies globally with such capabilities, reflects its successful shift towards advanced technology [5] Automotive Strategy - Xiaomi's first car, the SU7, was launched with the goal of becoming a top five global automotive brand within 15 to 20 years, showcasing its commitment to the automotive sector [6] - The YU7 SUV achieved significant market traction, with over 240,000 orders within 18 hours of its launch, indicating strong consumer interest [6][7] - The company is focusing on enhancing driving performance and vehicle mechanics, positioning itself as a leader in automotive quality and innovation [10] Competitive Positioning - Xiaomi's new flagship smartphone series, the Xiaomi 17, aims to directly challenge Apple's iPhone 17, with improvements in performance and features at a more competitive price point [8][9] - The Xiaomi 17 series features the latest Snapdragon 8 processor and innovative design elements, indicating a strong push into the high-end smartphone market [8] - The company has rebranded its flagship product to signal its ambition to surpass industry leaders and redefine its market presence [9] Industry Challenges - Xiaomi has faced significant online criticism and negative publicity, particularly regarding its automotive ventures, which the CEO has acknowledged as a challenge for the brand [10] - The company supports recent government initiatives to combat online misinformation and negative campaigns that hinder industry growth [10] - Xiaomi's approach to automotive performance emphasizes the importance of high standards in vehicle development, aligning with global automotive industry practices [10]