On December 31, Lei Jun responded in a New Year’s live broadcast to the significant drop in Xiaomi's stock price. He stated: "I think Xiaomi has faced many internal and external challenges in recent years. I still remember that in 2022, we encountered enormous challenges since our founding, with our first performance decline of 15%. Last year we did our best, but our performance continued to decline by another 3%. It was quite disheartening. Our stock price dropped from 35 yuan to more than 8 yuan, which is indeed quite miserable, and it has drawn a lot of criticism, plus some fans would scold us. So it's not easy. I know it's tough for everyone today, and I often comfort myself with this saying: 'Every year is tough, yet we get through it.' A year has passed pretty well. Hahaha, so I think sometimes, during tough times, we need to remain optimistic and resilient. After three years of our efforts, this year our performance was pretty good, and the stock price has recovered. My feeling this year can be summed up in these eight characters: 'After hardship comes happiness, dreams come true.'