Xiaomi SU7 has been on the market for over three months and has delivered over 30,000 units.
On July 26th, according to Lei Jun, the director of Xiaomi Group, Xiaomi SU7 has sold over 0.03 million units in just over three months, setting a new industry record. It is expected that over 0.01 million units will be delivered in July. The production capacity has already been increased, and the goal of delivering 0.1 million units for the entire year is expected to be achieved by early November.
Xiaomi Auto is accelerating again! The second phase of the factory has landed, and Foxconn in Shenzhen is recruiting testers.
Xiaomi has opened recruitment for self-driving car testers and component testers.
Xiaomi Communication successfully issued 1 billion RMB of CSI Enterprise Bond Index, which was oversubscribed 5.4 times.
According to internal reports, Lin Shiwei, the Vice President and Chief Financial Officer of Xiaomi Group-W(01810.HK), announced that Xiaomi Communications has successfully issued technology innovation + high-growth industry bonds to professional institutional investors, with a scale of 1 billion RMB and a term of three years, with a "AAA" rating. The entire issue was oversubscribed by 5.4 times and the final coupon rate was 2%.
Express News | The Passenger Car Association predicts that narrow-definition passenger car retail sales in July will be around 1.73 million, with a year-on-year and month-on-month decrease of about 2%.
Xiaomi Secures New Land Parcel in Beijing, Possibly for EV Plant Phase 2
Express News | Lei Jun: Xiaomi SU7 has an annual delivery target of 0.1 million vehicles, expected to be completed in early November.
Market Chatter: Shanghai-Based AI Startup Secures 5 Billion Yuan in Series A Round
"Hong Kong stock" Hang Seng Index rose 16 points, household appliances and heavy equipment stocks rose sharply, and East Buy selection fell 23%.
The US economy grew more than expected last quarter. The Dow rose 81 points or 0.2% on the evening of the 25th, and the Hong Kong stock market rebounded with the external trend. The Hang Seng Index opened high by 74 points, rose 224 points in the early stage to 17,229 points, and then fell back. It once fell 80 points to 16,924 points, rose 16 points or 0.1% in the whole day, and closed at 17,021 points. The HSI Tech Index rose 22 points or 0.7%, and closed at 3,443 points. The total turnover of the market for the whole day was 104.67 billion yuan, and the net inflow of southbound transactions of Shanghai, Shenzhen and Hong Kong stock connect was 5.791 billion and 4 billion yuan respectively.
Cui Dongshu: In the first half of the year, imports of autos decreased by 4% year-on-year to 0.332 million units.
Cui Dongshu, Secretary-General of the China Association of Automobile Manufacturers, stated that the import volume of cars to China has continued to decrease at an average annual rate of about 8% since 2017, with only 0.8 million units expected to be imported by 2023.
Hang Seng Index rose 28 points in half a day, with electronic related stocks being popular. Eastbuy fell 21%.
The US economy grew better than expected in Q1. The Dow rose more than 500 points the night before (25th) and closed up 81 points or 0.2%. Hong Kong stocks rebounded with the external market in the morning, and the Hang Seng Index opened high with 74 points, rose 224 points in the initial stage, saw 17,229 points and then fell back. It had previously fallen as much as 80 points to 16,924 points and then rose 28 points or 0.17% in the morning and reported 17,033 points. The national index fell 4 points or 0.1%, reported 6,012. The Hang Seng Technology Index rose 22 points or 0.7%, reported 3,443. The total turnover of the market in half a day was 60.193 billion yuan. The net inflow of Shanghai, Shenzhen and Hong Kong Stock Connect transactions was 2.42 billion and 14.88 billion respectively.
Furui: This year, white appliances are competing with computers and televisions for the budget of mainland Chinese consumers.
Furui: This year, white appliances are competing with computers and televisions for the budget of mainland Chinese consumers.
"Dahang" of Daiwa: Raising the standards for scrapping and upgrading subsidies for automobiles on the mainland should boost fourth-quarter sales, but may also cause concerns about sales in 2025.
Morgan Stanley's research report pointed out that the mainland has raised the subsidy standard for scrapping and updating automobiles. Individuals who scrap the National III and below emission standard fuel passenger vehicles or new energy passenger vehicles registered before a specified date and purchase new energy passenger vehicles or passenger cars with a displacement of 2 liters or less included in the "Catalog of New Energy Vehicles Eligible for Exemption from Vehicle Purchase Tax" will receive a subsidy of 0.02 million yuan for purchasing new energy passenger vehicles and 0.015 million yuan for purchasing passenger cars with a displacement of 2 liters or less. Morgan Stanley believes that the upgraded replacement incentive program has implemented the government's commitment to stimulating automobile demand, but it also exposes domestic consumption.
Intraday quick overview: The gains of the three major indexes have narrowed, golden industrial concepts have strengthened, and Chinagoldintl has risen nearly 5%.
Hang Seng Index rose 0.4%, Science Index rose 0.42%, and National Index rose 0.29%; Commercial vehicle and home appliances stocks joined forces to rise, Sinotruk rose by more than 11%, and Haier Smarthome rose by nearly 5%; Famous anchor Dong Yuhui left the company, East Buy fell by more than 19%.
In the first half of the year, the mainland's scrapped automobile recycling volume increased by 27.6% annually, with a 72.9% increase in June.
Xu Xingfeng, Director of the Consumer Promotion Department of the National Ministry of Commerce, said at a special press conference held by the National Development and Reform Commission that 24 regions have introduced policies for automobile replacement and renewal subsidies, and 20 regions have introduced special documents for replacing old household appliances with new ones. As of noon yesterday (25th), the automobile replacement and renewal information platform had received 0.364 million applications for automobile scrapping and renewal subsidies, with a daily increase of over 0.01 million. In the first half of this year, the national scrap car recycling volume was 2.778 million, a year-on-year increase of 27.6%. In May and June, the recycling volume of scrapped cars in the country increased by 55.6% and 72.9% respectively compared to the same period last year.
Report: The mainland smart phone market's second quarter shipments increased by 10% year-on-year, with a slight decline in Apple's market share.
According to the latest report from Canalys, a market research institution, the shipment volume of smart phones in mainland China in Q2 2024 reached 70 million, a year-on-year increase of 10%. Major brands have achieved different levels of growth through new product releases and market strategies adjustment. Among them, Vivo returned to the top of the domestic market with a shipment volume of 13.1 million units and a market share of 19%, with a year-on-year growth of 15%, mainly due to its stable offline channels and capturing demand for the "618" e-commerce. OPPO ranked second with a shipment volume of 11.3 million units while Honor took the third place with a shipment volume of 10.7 million units.
Xiaomi Zhizao Fund increases capital to 10 billion RMB, with Lei Jun as the chairman of the investment decision-making committee.
Kingsoft (03888.HK) announced that there will be adjustments to the Beijing Xiaomi Intelligent Manufacturing Equity Investment Fund LP program. After the adjustment, the total subscribed capital of the fund will increase from 9.03 billion yuan to 10 billion yuan, and an additional 0.97 billion yuan of subscribed capital will be contributed by some existing and new limited partners. The fund is chaired by Lei Jun, the chairman of Xiaomi Group-W (01810.HK), who serves as the investment decision-making committee chairman, and is served by Xiaomi Group as the executive partner for the specific investment operation and daily operation management. (ta/w)~
Xiaomi's subsidiary spent more than 0.84 billion RMB to acquire land and expand the factory in Yizhuang, Peking.
According to the Beijing Planning and Natural Resources Commission, Yizhuang Development Zone in Beijing yesterday (25th) transacted an industrial land at a starting price of about CNY 0.842 billion. The land is located east of Xiaomi's automobile factory and was won by Xiaomi-W (01810.HK) subsidiary, Xiaomi Jingxi Technology Co., Ltd. According to the listing document, the Yizhuang New City industrial land is planned to be used for the construction of new energy intelligent connected automobile whole vehicle and parts manufacturing projects, with fixed asset investment of no less than CNY 2.6 billion, and an annual output value of no less than CNY 16 billion.
Xiaomi won the bid for an industrial land in Yizhuang New Town, Peking, with 0.842 billion yuan.
On July 25th, Guolonghui reported that the industrial project of YZ00-0606 block 0106 in Yizhuang New City was sold for about 0.842 billion yuan. The winning bidder was Xiaomi Jingxi Technology Co., Ltd., a subsidiary of Xiaomi Communication Technology. The transfer document shows that the plot is for industrial use, with a land area of 0.5311 million square meters and a building control scale not exceeding 0.6905 million square meters. The starting price of the plot is about 0.842 billion yuan, and it was finally sold at this base price. It is reported that the land of the project is located in the dominant area of manufacturing production. According to the requirements of regional industrial cultivation, high-end automobiles and new energy smart automobiles are planned for development.
Express News | Xiaomi spent 0.842 billion yuan on land acquisition.
Express News | Xiaomi's smart manufacturing fund has exceeded 10 billion yuan in size.
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