Core Viewpoint - The recent incidents involving Xiaomi cars, including a fire and rumors of a fatal accident during advanced driving training, have been addressed by company executives, emphasizing the importance of safety and the company's commitment to legal action against misinformation [2][4][5]. Group 1: Incident Clarification - Xiaomi's Vice President Li Xiaoshuang clarified that a recent fire incident in Qingdao was a result of a normal traffic accident, not a battery fire, and no injuries occurred [2]. - Xiaomi's founder Lei Jun stated that the advanced driving training program involves challenging driving conditions, and while some incidents may occur, they are part of the training's value [4]. Group 2: Advanced Driving Training Program - The ongoing advanced driving training program in Beijing is designed for driving enthusiasts, allowing participants to experience extreme driving conditions in a controlled environment [8]. - The program, launched on June 6, targets owners of the Xiaomi SU7 model, with the first 10,000 users able to participate for free, focusing on enhancing driving skills and safety [8]. - The Xiaomi SU7, the company's first model, has been well-received, with over 250,000 units delivered and 75,869 units delivered in the first quarter of the year [9]. Group 3: Financial Performance - In the first quarter, Xiaomi's revenue from smart electric vehicles and AI innovation segments reached RMB 18.6 billion, with RMB 18.1 billion specifically from electric vehicles [9].

Group 1 - The core message of the news is the denial of rumors regarding a fatal accident during Xiaomi's advanced driving training program, with company executives emphasizing the importance of the training and the initiation of legal actions against rumor spreaders [3][5]. - Xiaomi's founder and CEO Lei Jun stated that while challenging driving conditions may lead to occasional incidents, this is a normal part of the training's value [3]. - Xiaomi's Vice President Li Xiaoshuang issued a statement condemning the malicious rumors and confirmed that legal procedures have been initiated to hold the perpetrators accountable [5]. Group 2 - The ongoing advanced driving training program in Beijing is designed for driving enthusiasts, allowing participants to experience extreme driving conditions in a safe and controlled environment [8]. - The training program, launched on June 6, is priced at 1999 yuan, with the first 10,000 Xiaomi car owners receiving it for free [8]. - The training focuses on the Xiaomi SU7 Max vehicle, with a curriculum that includes various driving exercises to enhance safety skills and driving enjoyment [8].

Group 1: Automotive Market Trends - The new car price war in China is ongoing, and price reductions may suppress the activity in the used car market [1] - The second-hand car supply is showing signs of fatigue, prompting the industry to readjust growth expectations [1] - In April 2025, the export value of automotive parts reached $8.02 billion, a year-on-year increase of 6.3% [2] Group 2: Company Developments - Hongmeng Zhixing announced that the Zun Jie S800 model achieved 3,600 pre-orders within seven days of its launch [3] - Xiaomi plans to provide free advanced driving training for 10,000 car owners across more than ten cities [4] - GAC Group reported a May 2025 automobile production of 128,570 units, a year-on-year decrease of 8.16% [5] Group 3: Management Changes and Investigations - Birgit Böhm-Wannenwetsch will take over as President and CEO of Brilliance BMW starting August 1, 2025 [6] - Yu Bingtai, former head of the Engineering Technology Department at Dongfeng Honda, is under investigation for serious violations [7] Group 4: New Product Launches and Manufacturing - Skyworth Automotive's first locally produced POLYTRON G3 series electric vehicle rolled off the production line in Indonesia [8] - Mazda plans to produce a new pure electric vehicle at its Hofu plant in Yamaguchi Prefecture, Japan, starting in 2027 [11]

小米CEO雷军：小米高阶驾驶培训会在全国免费培训一万名小米车主。 ...

Summary of Lisheng Sports Conference Call Company Overview - **Company**: Lisheng Sports - **Industry**: Sports Event Management and Operations Key Points and Arguments Financial Performance - Lisheng Sports achieved a record high total revenue of over 400 million yuan in 2024, despite facing long-term equity investment losses and goodwill impairment [2][8] - Core racing and event operations remained profitable, while emerging karting and digital sports businesses incurred losses [2][8] - The company expects improved performance in 2025 due to reduced risks and an employee stock ownership plan [2][8] Business Strategy and Expansion - The company is expanding its strategy from racing to a broader sports domain, having secured golf event authorization in 2025 and planning to extend into tennis, cycling, and marathons [2][4] - The golf business will encompass events, practice facilities, and equipment, with expected revenue contributions starting in 2025 and significant growth anticipated post-2026 [2][5] - The Haikou racetrack is projected to be completed by the end of 2026, contributing to revenue from 2026 to 2027, benefiting from Hainan's free trade zone operations and tourism consumption [2][6] Market Outlook - The company is optimistic about the golf market, predicting that a well-structured full industry chain could surpass the scale of its current racing business [2][7] - Long-term revenue target is set to exceed 1 billion yuan through a "5+4+2" model [2][7] Revenue Streams and Profitability - The commercial value of golf events includes sponsorship, registration fees, merchandise, and broadcasting rights, with significant profit potential once initial costs are covered [2][8] - The expected revenue for golf events is around 400 million yuan, with profits projected between 150 million to 200 million yuan [12] Future Developments - The company plans to explore other sports events like marathons and tennis in 2026, contingent on progress in 2025 [14] - Additional racetrack projects are planned outside Hainan, driven by the growing demand for performance cars in China [15] Challenges and Risks - The company faced challenges in the past year due to long-term equity investment losses and goodwill impairment, alongside losses in karting and digital sports due to high initial investments [8] - The focus for 2025 will be on ensuring profitability and avoiding large-scale loss-making investments, particularly in AI and digital sports [18] Market Comparison and Insights - Domestic golf event profitability is expected to improve through marketization, with potential comparisons to successful overseas models like the European Tour [9][10] - The company is analyzing the commercial viability of various sports events, considering market competition and audience characteristics [20] Important Milestones - Key milestones to watch in 2025 and 2026 include developments in the golf business, the construction of the Haikou racetrack, and the progress of the company's capital increase and buyback plans [21]