XIAOMI(HK:01810) 3 6 Ke·2026-01-13 08:05Core Viewpoint - Xiaomi's public relations crisis stems from internal budget allocation mechanisms, leading to a shift in focus from mobile to automotive business, which has created external turbulence [1] - The creation of an entrepreneur's personal brand has advantages in efficient communication but also has drawbacks that can exacerbate public opinion issues, which requires adjustment from Lei Jun [1] - The crisis facing Xiaomi is not merely about trending topics but is fundamentally linked to financial performance [1] Group 1: Internal Budget Allocation - The media often suggests that poor public opinion will negatively impact sales, but Xiaomi's automotive division delivered 450,000 units in 2025, exceeding the initial target of 350,000 units despite a challenging public environment [1][4] - Xiaomi's market expenses as a percentage of revenue were historically low, below 5% before Q3 2019, but have since risen to around 7%, still lower than competitors at approximately 10% [6] - Following the launch of Xiaomi's automotive production, it was expected that marketing expenses would increase, yet the opposite occurred due to a shift in budget allocation favoring the automotive sector over the mobile division [6][7] Group 2: Impact of Entrepreneur's Personal Brand - The successful marketing of Xiaomi's automotive venture has been attributed to the effective personal branding of Lei Jun, which has become a common strategy among entrepreneurs [8] - However, the focus on personal branding can detract from business operations and may lead to public backlash, as seen with Lei Jun's social media presence [9][10] - To resolve ongoing public relations issues, it is suggested that Lei Jun should prioritize brand promotion over personal branding, as internal conflicts regarding resource allocation have contributed to the current crisis [10]