Core Viewpoint - Xiaomi Group reported record high revenue and adjusted net profit for Q1 2025, showcasing strong performance across various business segments [2] Group 1: Automotive Business - Xiaomi SU7 Ultra has exceeded 23,000 pre-orders as of May 26, significantly surpassing expectations [3] - The SU7 series has delivered a total of 258,000 units since its launch, with Q1 2025 deliveries reaching 75,869 units, reflecting a quarter-on-quarter growth of 8.9% [3] - The company aims to achieve an annual delivery target of 350,000 units for its electric vehicles [4] Group 2: Financial Performance - Revenue from Xiaomi's smart electric vehicles and AI innovation businesses reached 18.6 billion yuan [5] - The IoT and consumer products segment generated 32.3 billion yuan, marking a robust year-on-year growth of 58.7% [9] - The home appliance business saw a doubling of revenue year-on-year in Q1, with significant sales increases in air conditioners, washing machines, and refrigerators [10] Group 3: Chip Development - Xiaomi's self-developed 3nm flagship SoC chip, Xuanjie O1, is currently planned for use in high-end flagship products only [6] - The Xuanjie O1 chip features 19 billion transistors, positioning it alongside Apple's A18 Pro in terms of performance [7] - The company emphasizes the integration of its chip business with its operating system and AI capabilities for enhanced platform strength [8] Group 4: Air Conditioning Business - Xiaomi aims to rank among the top three in China's air conditioning market by 2030, competing with global benchmark brands [9] - The company has completed its full product line layout for air conditioners and plans to enhance its manufacturing capabilities with a new smart manufacturing facility expected to launch this year [10] - Xiaomi's strategy focuses on product strength and efficiency, indicating that price wars will not significantly impact its business model [10]