Core Viewpoint - The article discusses Xiaomi's recent launch of the YU7 model, highlighting the company's strategic positioning and marketing approach in the competitive electric vehicle market. Group 1: Product Positioning - Xiaomi YU7 is positioned against Tesla's Model Y, emphasizing its advantages in range, configuration, and cost-effectiveness [2] - The company has invested in extensive road testing, with 653 test vehicles covering 6.5 million kilometers, to ensure product quality and safety [4] Group 2: Safety Emphasis - Safety is highlighted as a fundamental aspect of the YU7, with the CEO stating that "safety is the premise, safety is the foundation, safety is everything" [5] Group 3: Transparency and Accountability - The CEO addressed external criticisms regarding Xiaomi's marketing strategies, emphasizing the need for careful communication and commitment to technological innovation [7] - During the launch, Xiaomi showcased the YU7's performance by revealing its record on the Nürburgring track, alongside a list of competing models to counter claims of inflated performance metrics [8] Group 4: Strategic Partnerships - Xiaomi's collaboration with BYD, GAC Toyota, and Zhengzhou Nissan is aimed at leveraging both new energy and traditional automotive strengths, signaling a commitment to a complementary technological ecosystem [9][10] Group 5: Industry Positioning - The CEO's remarks at the event reflect a shift in perception from being a newcomer to being recognized as a key player in the automotive industry, indicating a need for higher standards and adaptability in a competitive landscape [12]

Core Insights - Xiaomi's first SUV model, YU7, achieved remarkable sales, with over 200,000 orders in just 3 minutes and nearly 290,000 in 1 hour, indicating strong market demand and confidence in the brand [2][3][4] - The company is transitioning from a smartphone manufacturer to an ecosystem giant, aiming to reshape the growth paradigm of Chinese tech enterprises [2][4] Sales Performance - The YU7's launch surpassed the sales performance of BMW's entire lineup in China over five months, and it is expected to exceed Xiaomi's annual sales target for electric vehicles [2][3][4] - As of May 21, 2025, the cumulative delivery of the SU7 series exceeded 258,000 units, with the SU7 becoming the best-selling model in its price range [8][9] Product Features - The YU7 is positioned in the mid-to-high-end SUV market, featuring advanced technology such as laser radar, an 800V high-voltage platform, and a range of 835 km, which outperforms competitors like the Tesla Model Y [4][6] - The pricing strategy for the YU7 is competitive, with the standard version priced at 253,500 RMB, which is lower than the Model Y [7] Market Strategy - Xiaomi's strategy includes a focus on technological innovation and quality assurance, with plans to enhance production capacity to meet the overwhelming demand for the YU7 [5][9][10] - The company is expanding its retail presence, with over 1,000 new stores opened in the first quarter, aiming for a total of around 20,000 stores by the end of the year [8] Future Outlook - Analysts predict that the demand for the YU7 will solidify Xiaomi's leadership in the high-end automotive market, with expectations for increased electric vehicle delivery forecasts for 2025 to 2027 [7][11] - Xiaomi's long-term vision includes significant investments in core technologies, with plans to allocate 200 billion RMB for research and development over the next five years [12][14] Ecosystem Development - The success of the YU7 is seen as a manifestation of Xiaomi's "ecosystem" strategy, integrating automotive, AIoT, and mobile technologies to create a comprehensive user experience [15] - The company is also advancing its self-developed chip plans, which are expected to enhance its automotive technology capabilities [5][14]

Investment Rating - The report maintains a "Buy" rating for Xiaomi Group-W (01810) [2][19] Core Views - The report highlights the strong product capabilities and competitive pricing of the Xiaomi YU7 SUV and AI glasses, predicting they will create new blockbuster products [7] - Revenue forecasts for 2025-2027 are maintained at RMB 483.6 billion, RMB 580.8 billion, and RMB 688.9 billion respectively, with adjusted net profits of RMB 42.7 billion, RMB 48.4 billion, and RMB 58.6 billion [7] Financial Data and Profit Forecast - Revenue (RMB billion): 2023: 271.0, 2024: 365.9, 2025E: 483.6, 2026E: 580.8, 2027E: 688.9 [6][10] - Year-on-year growth rates for revenue: 2023: -3%, 2024: 35%, 2025: 32%, 2026: 20%, 2027: 19% [6] - Net profit (RMB billion): 2023: 19.3, 2024: 27.3, 2025E: 42.7, 2026E: 48.4, 2027E: 58.6 [6][10] - Earnings per share (RMB/share): 2023: 0.76, 2024: 1.07, 2025E: 1.68, 2026E: 1.90, 2027E: 2.30 [6] - Price-to-earnings ratio (PE): 2025: 33, 2026: 29, 2027: 24 [6] Product Launch Insights - Xiaomi launched the YU7 SUV with over 208,900 pre-orders in the first hour, with competitive pricing and specifications compared to rivals like Xpeng G7 and Tesla Model Y [7][8] - The AI glasses feature a lightweight design and advanced technology, with various pricing tiers and capabilities that enhance user interaction and connectivity [7][9]

以下文章来源于NBD汽车 ，作者每经记者 NBD汽车 . 新闻在身边，我在你左右 本文转载自每日经济新闻 值班编辑 | 宝珠 视觉 | 顾芗 备受关注的小米YU7价格公布了。 6月26日晚间，小米汽车旗下首款SUV车型——小米YU7正式上市。新车共推出标准版、Pro、Max三个 版本车型，售价分别为25.35万元、27.99万元、32.99万元。 "起售价比Model Y便宜1万元，我们想给YU7更实惠的价格。"小米集团创始人、董事长雷军在发布会上 表示。 关于小米SU7的定价，外界一直猜测不断——19.9万元、22.59万元等不同版本的价格传闻此起彼伏，但 雷军均否定了这些猜想。 在小米YU7正式上市前两天，雷军再次公开回应称，"网上有不少人在猜价格，YU7 标准版比SU7标准版 贵2万~3万元。我已经公开否认过，因为YU7标准版配置很高，放在行业里，相当于友商的Max版甚至 Ultra版的配置"。 小米集团总裁卢伟冰在此前的一次直播中也强调称，"这次价格不会便宜，我们要卷产品、卷技术、卷 用户价值"。 据小米汽车官微最新消息，3分钟，小米YU7大定突破200000台。 雷军否认YU7是升级版SU7 据雷军 ...

Core Viewpoint - Xiaomi's CEO Lei Jun emphasized the company's commitment to safety and innovation during the recent product launch event, responding to competitive challenges from Tesla and addressing past controversies in the automotive sector [1][6][7]. Group 1: Automotive Developments - Xiaomi has entered the automotive industry with the launch of its first SUV, YU7, priced at 253,500 RMB, which is 10,000 RMB cheaper than Tesla's Model Y [6]. - The company has acquired a new land parcel in Beijing for 635 million RMB, intended for the development of high-end and new energy smart vehicles [2]. - Since the delivery of its first model, SU7, Xiaomi has faced production capacity challenges, with delivery times reaching 35-38 weeks and projected annual deliveries of over 136,000 units in 2024 [3][4]. Group 2: Financial Performance - In 2024, Xiaomi reported total revenue of 365.9 billion RMB, a 35% year-on-year increase, with adjusted net profit rising by 41.3% to 27.2 billion RMB [8]. - The "smartphone x AIoT" segment generated 333.2 billion RMB, a 22.9% increase, while the innovative automotive segment reported a revenue of 32.8 billion RMB [8]. - The company has seen a significant increase in its workforce, with over 10,000 new employees added in the past year, bringing the total to 43,688 by the end of 2024 [9][10]. Group 3: Inventory and Cash Flow - Xiaomi's inventory surged to 625.1 billion RMB by the end of 2023, a 40.7% increase from the previous year, with automotive inventory experiencing over 22 times growth [10][11]. - The company reported a cash and cash equivalents balance of 86.2 billion RMB at the end of the first quarter, with a significant decline in net cash from operating activities [12].

智通财经APP获悉，中金发布研报称，小米集团-W(01810)举行了小米人车家全生态发布会，发布了小 米YU7、小米AI眼镜及多款IoT新产品。考虑小米YU7大定超预期，上调2025/2026年经调整净利润 2%/17%至490.48亿元/663.84亿元。当前股价对应2025/2026年经调整净利润市盈率28.0/20.4倍。维持跑 赢行业评级，综合考虑盈利预测调整和行业估值中枢上移，上调目标价9.9%至76.9港元(基于SOTP估值 法)，对应2025/2026年经调整净利润市盈率37.8/27.5倍，有35.1%的上行空间。 "人车家全生态"战略稳步推进，看好新品发布带动品牌势能持续向上 该行认为，本次小米YU7大定数量超预期、首款AI眼镜等新品发布对品牌势能有望继续形成助推。展望 未来，该行看好小米坚持"规模生态化+技术硬核化+品牌高端化+市场全球化"四大核心战略，未来随 着"人车家全生态"在用户层面和底层系统的持续打通优化，在手机、汽车、IoT、AI眼镜、机器人等多 个端侧硬件领域的重要入口地位或将得到进一步凸显。 中金主要观点如下： 风险提示：全球宏观经济影响智能手机及IoT产品需求，智能汽车销量 ...

来源：深网腾讯新闻 图源：视觉中国 文丨雅萱 编辑丨叶锦言 出品丨深网·腾讯新闻小满工作室 发布一个月后，小米集团创始人雷军于6月26日正式公布小米首款SUV小米YU7的价格，其中，标准版起售价25.35万元，Pro版售价27.99万元；Max版售 价32.99万元。 在这个价格段内，聚集着Model Y、智界R7、乐道L60、理想L6，极氪7X、阿维塔07、全新智己LS6和即将上市的理想纯电SUV理想i6等多款车型。 据Focus2move数据显示，2024年全年，特斯拉 Model Y全球销量109万辆，同比下滑1.2%。 理想创始人李想日前在社交平台"预祝小米YU7大卖"时，特意为理想纯电SUV做了预热，"雷总提到6座SUV，即将在7月下旬上市的理想i8就是一款三排 六座纯电SUV。" 就在小米YU7正式公布价格的当天，鸿蒙智行官方宣布，智界品牌旗下全系车型启动购车补贴。6月27日起至7月31日，下定用户可立减2万元现金，并享 最高价值6万元的购车权益。官方补贴后，智界R7增程版售价降至22.98万-29.98万元；智界R7纯电版售价降至23.98万-31.98万元。 显而易见，定价25.35万起的小米 ...

小米YU7发布。 6月26日，小米人车家全生态发布会召开。小米首款SUV车型YU7正式发布上市，起售价25.35万元。 在正式开始订购后，小米汽车发出了亮眼"战报"，3分钟大定突破200000台。不过，随后也有谣言出现，称小米YU7在5分钟大定突破35万台。对此，小米 集团公关部总经理王化紧急辟谣，王化称，"虽然今晚小米YU7的成绩非常亮眼超出预期，但是这个海报的数字也太开玩笑了， 请大家不要捧杀我们！要相信 如果我们要披露数据，一定是通过@小米汽车 官微发出。" 电池方面，小米YU7全系采用800V碳化硅高压平台，Max版本还支持5.2C的最大充电倍率，从10%电量充到80%电量最快12分钟，最快15分钟充电即可行 驶620km。 智驾方面，小米YU7全系标配1000万Clips版本小米端到端辅助驾驶，纵向舒适性提升57%，绕行成功率提升67%，路口通过率提升23%。 价格方面，小米YU7标准版定价25.35万元，小米YU7 Pro版定价27.99万元，小米YU7 Max版定价32.99万元。 受YU7亮眼的大定成绩刺激，小米集团ADR大涨，盘中一度涨近12%，截至收盘涨近10%。 | W | | 小米集团 ...

Core Viewpoint - Xiaomi's YU7 marks the company's significant entry into the automotive industry, facing intense competition, particularly from Tesla's Model Y, which has been a benchmark for many new entrants in the electric SUV market [1][3][4] Pricing and Market Position - The YU7 is priced at 253,500 CNY for the standard version, 279,900 CNY for the Pro version, and 329,900 CNY for the Max version, making it 13,500 CNY cheaper than the Model Y [1] - Over 15 electric SUVs are currently available in the 250,000 to 350,000 CNY price range in China, indicating a highly competitive market [1] - Xiaomi reported over 200,000 orders within 3 minutes of the launch and 289,000 orders within the first hour, showcasing strong initial demand [1] Competitive Landscape - The competition in the electric vehicle market is fierce, with multiple brands attempting to challenge the dominance of Tesla's Model Y, which has seen fluctuating sales in 2024 [3][4][6] - Despite the competition, Xiaomi's YU7 is positioned as a serious contender, especially after the success of its previous model, the SU7, which has outperformed Tesla's Model 3 in sales [9] Product Features and Strategy - The YU7 continues Xiaomi's strategy of offering high aesthetic appeal, performance, and value for money, with features like laser radar and 800V fast charging included as standard [1][7] - Xiaomi has emphasized safety in the YU7, equipping it with ultra-high-strength steel and a significant amount of data for its autonomous driving capabilities, aiming to meet industry standards [14][16] Financial and Operational Strengths - Xiaomi's automotive division reported a gross margin of 23.2%, surpassing competitors like Li Auto and Tesla, indicating a strong financial position despite ongoing losses in the electric vehicle sector [17][18] - The company benefits from a robust supply chain and management capabilities, with a commitment to shorter payment cycles for suppliers, enhancing operational efficiency [19] Challenges Ahead - Xiaomi must address quality concerns and production capacity issues that have plagued its previous models, as these factors are critical for gaining consumer trust and ensuring timely deliveries [20][21] - The company has acknowledged these challenges by allowing existing SU7 customers to switch to the YU7, indicating a proactive approach to customer satisfaction and market positioning [22]

Core Viewpoint - Xiaomi has officially launched its second car model, the YU7, targeting the competitive SUV market in China, following the success of its first model, the SU7, which dominated the sedan market for 15 months [1][3][4]. Group 1: Product Launch and Market Positioning - The YU7 is priced between 253,500 and 329,900 yuan, with three models available, showcasing a more aggressive launch strategy compared to the SU7 [3][4]. - Xiaomi's founder, Lei Jun, emphasized the need for the YU7 to connect seamlessly with the SU7's success, as the company is no longer a newcomer in the industry [4][6]. - The YU7's launch saw significant initial demand, with over 200,000 orders placed within just three minutes of its release [11]. Group 2: Competitive Analysis and Features - The YU7 aims to compete directly with Tesla's Model Y, showcasing superior specifications in terms of space and performance, such as a 3944 km endurance test surpassing competitors like the Mercedes GLA and Porsche Taycan [20][22]. - The vehicle features a high-voltage platform and advanced technology, including the Nvidia Thor chip and multiple sensors for enhanced safety and driving assistance [22]. - Xiaomi has shifted its marketing approach, focusing on direct product features rather than emotional appeals, indicating a more traditional automotive marketing strategy [10][12]. Group 3: Strategic Partnerships and Ecosystem Development - Xiaomi is expanding its ecosystem by collaborating with industry partners like BYD and GAC Toyota, aiming to create a more open and comprehensive "human-vehicle-home ecosystem" [15][16]. - The company is leveraging its previous experience with the SU7 to enhance its product offerings and market positioning in the SUV segment [12][28]. Group 4: Challenges and Future Outlook - Despite the initial success of the YU7, Xiaomi faces challenges in production capacity and service network expansion, with the second factory not yet operational and only 153 service points across 88 cities [27][28]. - The company aims to improve its financial performance by increasing production efficiency and scaling its operations, as it has reported significant losses in the past [28].