$Xiaomi Corp. Unsponsored ADR Class B (XIACY.US)$ At the beginning of the US stock market, it once rose over 6%, hitting a historical high during the day, currently up 4.14%, with a stock price of $38.5.

On the 18th, Xiaomi Group President Lu Weibing stated at the 2024 Earnings Conference that Xiaomi will invest about 1/4 of its total R&D funding, approximately 7 to 8 billion, into AI.

In the long term, AI, OS, and chips are listed as Xiaomi's core technologies.

In the short term, Xiaomi must focus on AI Infrastructure, developing language large models, multimodal large models, and other AI technologies, creating application scenarios for the implementation of large AI models, such as Super Xiao Ai, smart cockpits, smart driving, etc. Xiaomi will also utilize AI technology to enhance internal efficiency.

Lu Weibing also stated in the Earnings Conference call that the expectation for the gross margin of the Autos Business in 2025 is greater than or equal to the Q1 gross margin. Currently, Xiaomi's Autos Business is still in the stage of significant investment, with developments in core technology research and development, multiple vehicle model development, factory construction, and smart driving technology investment. Additionally, there are some investments that cannot be disclosed at this time. Moreover, there isn't a very clear timeline for profitability required for the Autos Business within Xiaomi, but there will be efforts to improve the profitability of that business.

Lu Weibing also mentioned that the competitive landscape of the smartphone market in China is relatively stable, with market shares of major manufacturers being very close, but over the next three to five years, it will gradually differentiate, and leading brands will become stronger. Xiaomi's goal is to increase its market share by 1 percentage point each year.

Lu Weibing also mentioned that under the coordinated strategy of 'human, vehicle, and home ecosystem,' automobiles help the Xiaomi brand achieve significant breakthroughs, with cumulative sales of the Xiaomi 15 Ultra growing by 80% year-on-year as of March 17.

Xiaomi Corp. Unsponsored ADR Class B Q4 Earnings Reports show that the company's revenue has surpassed 100 billion yuan in a single quarter for the first time, with the gross margin for the Autos Business at 20.4%. This year, the goal is to achieve 0.35 million deliveries. Lei Jun stated that this is the strongest annual report in Xiaomi's history.

Editor/rice