Core Viewpoint - Xiaomi's automotive business is gradually narrowing its losses and is expected to achieve profitability in the third to fourth quarter of this year [1] Group 1: Automotive Business - Xiaomi's latest car model, YU7, will not be priced at the rumored 235,900 yuan, with the official pricing to be determined 1-2 days prior to launch [1] - The total budget for the intelligent driving research and development of YU7 is set at 3.5 billion yuan, placing Xiaomi's investment at a leading level within the industry [1] - Xiaomi has been investing in robotics research and development for five years, with its automotive factory currently testing related capabilities [1] Group 2: Future Developments - Xiaomi is in the process of developing its own automotive chips, which are expected to be launched soon [1] - The company aims to maintain a hardware profit margin of 5% in the long term [1]

Core Viewpoint - SAIC Group is undergoing internal adjustments, particularly in its software subsidiary, Zero束科技, which has merged with the R&D Institute to enhance collaboration and efficiency in autonomous driving technology development [2][3]. Group 1: Company Restructuring - Zero束科技 has integrated its autonomous driving team with the R&D Institute, leading to a reduction in overlapping departments, while retaining a few key divisions [2]. - The merger has resulted in a personnel loss, with approximately 10% of the Zero束科技 autonomous driving team voluntarily leaving, indicating potential challenges in employee retention during the transition [2]. - The newly merged team currently lacks defined projects and is in a waiting phase for new assignments, reflecting uncertainty in the immediate future of the combined teams [2]. Group 2: Strategic Goals - In January, SAIC Group consolidated five business units into a "Large Passenger Vehicle Sector" to streamline operations and enhance decision-making through a newly formed executive management committee [3]. - The rationale behind this restructuring is to improve quality, reduce excess, foster business collaboration, and mitigate risks in response to competitive pressures from other domestic automakers like BYD and Geely [3]. - SAIC Group's projected vehicle sales for 2024 are 4.013 million units, representing a year-on-year decline of 20.07%, with the passenger vehicle segment expected to see a 28.3% drop in sales [3].