Group 1 - The core focus of the upcoming live stream by Xiaomi's founder Lei Jun is the new generation SU7 model, which has already started pre-sales priced between 229,900 to 309,900 yuan, with plans for launch in April 2026 [6] - Lei Jun's increased frequency of live streams in 2026 marks a significant shift in Xiaomi's communication strategy, aiming for more direct engagement with users [5] - During the previous live stream on January 7, Lei Jun addressed various criticisms and clarified misconceptions regarding the "marketing master" label, emphasizing a proactive approach to user communication [5][7] Group 2 - The new generation SU7 will feature advanced technologies including laser radar, 4D millimeter-wave radar, and a 700 TOPS computing platform, along with the Xiaomi HAD intelligent driving system [6] - The decision to hold frequent live streams reflects Lei Jun's commitment to transparency and direct dialogue with users, countering negative perceptions and fostering trust [5][7]

Investment Rating - The report maintains a "Recommended" rating for Xiaomi Corp [1] Core Insights - Xiaomi's pricing strategy for the SU7 Ultra significantly enhances its brand image while retaining its value-for-money proposition, marking a decisive move into the ultra-premium market [2][10] - The SU7 Ultra's price was reduced to Rmb529,900 from an initial pre-sale price of Rmb814,900, exceeding market expectations and allowing middle-class consumers to access luxury car experiences [2][8] - The vehicle's impressive specifications, including 1,548 PS power and a 0-100 km/h acceleration in 1.98 seconds, position it as a competitive model in the ultra-premium segment [9][12] Summary by Sections Event - Xiaomi officially launched the SU7 Ultra on February 27, 2025, with a guide price of Rmb529,900, a reduction of Rmb285,000 from the pre-sale price, leading to over 6,900 orders in 10 minutes and 10,000 in 2 hours [6][1] Comments - The "Quality-to-Price" strategy is pivotal in Xiaomi's brand upgrade, showcasing its commitment to high-end transformation while maintaining cost-effectiveness [7][10] - The significant price drop is expected to broaden sales potential, although volume is not the primary focus for Xiaomi [8][10] - The SU7 Ultra's pricing establishes it as a "gold-standard" model, enhancing its competitive edge in the ultra-premium market [9][10] Technology and Features - The SU7 Ultra features advanced technology, including Qualcomm's Snapdragon 8295 chipset and Xiaomi HyperOS, supporting five-screen interconnection and enhanced voice control through the AI assistant Xiao Ai [11] - The intelligent driving system boasts a total computing power of 11.45 EFLOPS and utilizes a comprehensive sensor suite for 360-degree coverage, positioning it among the industry's top tier [11][12] - The full rollout of the HAD intelligent driving system is anticipated to enhance competition with Tesla and other leading domestic intelligent driving companies [13]