Source: Wind
Xiaomi SU7 officially released
It took three years,$XIAOMI-W (01810.HK)$The Xiaomi SU7 was officially released. There are three configurations, namely the Xiaomi SU7 standard version, which costs 215,900 yuan; the Xiaomi SU7 Pro version, which costs 245,900 yuan; and the Xiaomi SU7Max version, which costs 299,000 yuan.
On March 30, 2021, Lei Jun officially announced the construction of the car. On March 28, 2024, Xiaomi held a launch conference and the first model, the SU7, was officially launched. Car company executives who visited the press conference this time include Xiaopeng Motor Chairman He Xiaopeng, NIO Founder Li Bin, and Ideal Auto Founder Li Xiang. In addition to Wei Xiaoli's three founders, Great Wall Motor Chairman Wei Jianjun, and the recent BAIC Group Chairman Zhang Jianyong also visited the site.
It is worth noting that recently the Xiaomi car concept has also been receiving attention in the capital market. The Wande Xiaomi Auto Concept Index (8841737I) rose 3.18% on the same day and rose 22.30% in January.
Earlier, on March 20, the Xiaomi Group released its financial report. In 2023, the total revenue of the Xiaomi Group was 271 billion yuan, and adjusted net profit was 19.3 billion yuan, an increase of 126.3% over the previous year. The “Full Ecosystem of People and Cars” strategy invested 19.1 billion yuan in R&D throughout the year, an increase of 19.2%. The total number of R&D personnel was 17,800, accounting for 53%; innovative businesses such as smart electric vehicles invested 6.7 billion yuan.
In terms of channels, the first batch of Xiaomi car stores covered 29 cities across the country, with a total of 59 stores. The Cinda Securities Research Report shows that the Xiaomi SU7 is expected to be delivered as soon as it is listed, and the volume will increase as soon as it is delivered. In addition to the 59 stores, the Xiaomi Home mobile phone stores in the same region will also attract and collect purchase leads for Xiaomi cars. The agency further pointed out that Xiaomi cars bring their own traffic, and since it was officially announced that they were built, more than 20 listed companies have indicated cooperation with the Xiaomi car business. With Xiaomi's own advantages in intelligence, ecological collaboration, fan effects and channels, Xiaomi car deliveries are expected to gradually increase, and related parts suppliers are expected to fully benefit.
Tianfeng Securities pointed out that from the details of the model information previously disclosed by the Ministry of Industry and Information Technology, it can be seen that the SU7 battery cell unit for Xiaomi's first pure electric sedan comes from$Contemporary Amperex Technology (300750.SZ)$It and Xiangyang Fudi Co., Ltd., a subsidiary of BYD, will supply ternary lithium batteries and lithium iron phosphate batteries respectively. At the same time, according to announcements from Interactive Easy and various companies,$Ningbo Tuopu Group (601689.SH)$,$Wanxiang Qianchao (000559.SZ)$,$Zhejiang Yinlun Machinery (002126.SZ)$,$Jiangnan Mould & Plastic Technology (000700.SZ)$,$Tianjin Pengling Group (300375.SZ)$,$Ningbo Shuanglin Auto Parts (300100.SZ)$,$Shanghai Carthane (603037.SH)$Many other A-share listed companies are Xiaomi suppliers. With the launch of the first model, the related supply chain is expected to continue to catalyze.
How to view the industry and industrial chain opportunities
How do you view the future development trend of China's own-brand car companies? Currently, China's own-brand car companies are mainly divided into three categories. According to the Guoxin Securities Research Report,
(1). Traditional car companies, born in the era of fuel vehicles, have actively transformed and reaped results, including$BYD COMPANY (01211.HK)$/$BYD Company Limited (002594.SZ)$,$Chongqing Changan Automobile (000625.SZ)$,$GWMOTOR (02333.HK)$/$Great Wall Motor (601633.SH)$,$GEELY AUTO (00175.HK)$, Chery, etc.;
(2) New power brands that have begun to cross borders in the electrification era$NIO Inc (NIO.US)$/$NIO-SW (09866.HK)$,$XPeng (XPEV.US)$/$XPENG-W (09868.HK)$,$Li Auto (LI.US)$/$LI AUTO-W (02015.HK)$Wait, active transformation and intelligence will begin in 2023;
(3) Vehicle companies transforming technology and consumer electronics, such as Huawei and Xiaomi, have entered the market. Such companies have strong channel traffic accumulation and software ecosystem capabilities such as operating systems, and are growing rapidly.
The agency said that in the medium to long term, it is concerned about incremental component opportunities under the rise of autonomy and the trend of electric intelligence. On a one-year basis, I am optimistic about the Xiaomi car industry chain in the first year of Huawei (HI and smart selection) and models, which have a strong new product cycle. In terms of car parts, considering that the current domestic electrification penetration rate is close to 40%, the subsequent growth space for own-brand car companies is mainly overseas and intelligent transformation. It is particularly recommended to focus on the new forces, Huawei, and Xiaomi automobile industry chains with advantages in channels and software algorithms.
Huachuang Securities believes that in the past 10 years, Xiaomi has invested in a number of leading companies in the automobile industry to improve the deployment of the automobile industry. Through a layout of nearly 10 years, Xiaomi has made thorough preparations in talent reserves, sales channels, and technology research and development, and is expected to innovate the automobile business model to a certain extent through its advantages in the Internet and consumer electronics fields. Its first model, the SU7, has advantages in terms of shape, size, configuration, and intelligent ecology. At the same time, thanks to Xiaomi's accumulated reputation over the past few years, the market attention is full, bringing natural traffic to the product. The related supply chain is expected to benefit from the release of the Xiaomi SU7 and other new cars.
Editor/jayden