XIAOMI(HK:01810) Mei Ri Jing Ji Xin Wen·2025-09-26 09:21Core Insights - Lei Jun's annual speech emphasizes the theme of "change," showcasing his personal journey and the transformation of Xiaomi from an internet company to a hard-tech enterprise [1][2] - The deep connection between Lei Jun and Xiaomi is a strategic choice, leveraging his personal brand to enhance Xiaomi's marketing and brand recognition [2][5] - As Xiaomi faces increasing challenges and crises, the reliance on Lei Jun's personal image may pose risks to the brand, necessitating a shift towards a more diversified spokesperson strategy [3][4] Group 1 - Lei Jun's storytelling ability has evolved, effectively linking personal experiences with Xiaomi's strategic direction, creating emotional resonance with the audience [1][2] - The transformation of Xiaomi's identity involves not just product line expansion but a fundamental change in the company's core identity [1][5] - Lei Jun's personal brand has become synonymous with Xiaomi, but this model may have limitations as the company grows more complex [2][3] Group 2 - Recent crises, such as the serious accident involving the Xiaomi SU7, have placed significant pressure on Lei Jun's personal image, impacting the brand's reputation [3][4] - The need for Xiaomi to transition from a brand heavily reliant on personal charisma to one that emphasizes systemic capabilities and institutional innovation is highlighted [4][5] - The market's reaction to Lei Jun's recent speech, including an 8.07% drop in Xiaomi's stock price, indicates a potential shift in investor sentiment towards the brand's reliance on his personal narrative [4][5]