XIAOMI(HK:01810) 证券时报·2025-02-27 15:05Core Viewpoint - Xiaomi's SU7 Ultra has achieved significant pre-order success, indicating strong market demand and potential for exceeding sales targets [2][3]. Group 1: Sales Performance - In just 10 minutes, Xiaomi's SU7 Ultra received over 6,900 pre-orders, achieving 70% of its annual sales target of 10,000 units [1][2]. - The actual price of the SU7 Ultra was set at 529,900 yuan, a reduction of 285,000 yuan from the initial pre-sale price of 814,900 yuan, which contributed to the surge in orders [2]. - As of the end of 2024, the SU7 series has accumulated over 248,000 locked orders and delivered more than 135,000 vehicles within 9 months of its launch [2]. Group 2: Product Strategy - The SU7 Ultra is the final model in the SU7 series, with plans for Xiaomi to enter the SUV market with a new model named YU7, expected to launch in mid-2025 [3]. - The YU7 is anticipated to compete primarily with Tesla Model Y and other models like the ZhiJie R7, while leveraging Xiaomi's strong brand reputation and product design to maintain high demand [3]. Group 3: Market Positioning - Xiaomi's mission is to make luxury vehicles accessible to more consumers, emphasizing value over high pricing [2]. - The company aims to maintain its competitive edge by combining attractive design, product quality, and brand strength in its upcoming models [3].