JPMorgan released a research report indicating that Xiaomi Group announced the launch of its second Electric Vehicle, named Xiaomi YU7, next year in mid. It belongs to the SUV category. The product mix in the electric vehicle Business continues to expand, reflecting the Group's execution capability in entering the electric vehicle market, which is better than market expectations. The delivery target for the first electric vehicle, Xiaomi SU7, has also been revised upward twice, and the gross margin for the electric vehicle Business in the first two quarters has reached a medium-high level, far exceeding the market's initial expectation of only a slight gross margin.

Morgans stated that they are currently waiting for the Group to announce more details about the new car's range, pricing, and Battery. It believes that the strong sales momentum of the SU7, the Group's core Business, and the profitability of the electric vehicle Business, as well as the expectations of new models being launched in the second half of next year and other Bullish factors, will continue to drive the stock price in the next 6 to 12 months. Future positive catalysts include more details or pricing of the YU7, further expansion of electric vehicle production capacity, core Business performance exceeding expectations, and the possibility of large-scale, nationwide Consumer stimulus measures from the government, thus giving a "Shareholding" rating.