Xiaomi auto concept stocks opened sharply higher： 50,000 vehicles were ordered in 27 minutes, and 5,000 founding versions were all sold out.

On March 28th, 2024, customers visited Xiaomi SU7 in the "Xiaomi House" in Beijing Oriental Plaza. Vision china diagram

On March 29th, the A-share Xiaomi Auto concept stocks opened sharply higher due to the favorable influence of Xiaomi Auto being sought after by the market after its release. Trading in Hong Kong stocks was suspended due to the market closure.

According to Wind’s statistics, there are 24 Xiaomi auto concept stocks in the A-share market. As of press time, Haitaike (301022), Pengling (300375), Jinrong Tianyu (300988) and Kaizhong (603037) have daily limit or increased by more than 10%, while Guangting Information (301221), Haosen Intelligent (688529) and Yachuang Electronics (3009).

On March 28th, three months after the technology was released, the launch conference of Xiaomi Auto SU7 was "long overdue", and Xiaomi founder Lei Jun announced the pricing of Xiaomi Auto, ranging from 215,900 yuan to 299,900 yuan. On the evening of March 28th, Weibo, the official of Xiaomi Automobile, issued a document saying, "Four minutes will definitely break 10,000. Seven minutes will definitely break 20 thousand. After 27 minutes on the market, it was set at 50,000 units. "

As of the close of the US stock market on the 28th, the ADR of Xiaomi Group rose by 12.13%.

In addition, Xiaomi Auto APP shows that 5,000 Xiaomi SU7 founding editions have all been sold out, and the deposit for the founding edition is 20,000 yuan per vehicle, which is non-refundable, which means that Xiaomi Auto has received 100 million yuan for the first edition only.

In terms of sales forecast, open source securities quoted media reports as saying that Xiaomi Automobile Factory was built in two phases, the first phase of which covers an area of about 720,000 square meters and has an annual production capacity of 150,000 vehicles, which was completed in June 2023. The second phase is scheduled to start in 2024 and be completed in 2025, with a total production capacity of 300,000 vehicles. It is estimated that the production plan is expected to reach about 4,000 units in March, and the production capacity will climb by the end of April. In June, two shifts of production will be started, and the mass production is planned to be about 70,000 units in 2024.

Everbright Securities predicts that Xiaomi may rely on the advantages of traffic+channel layout in the early stage to drive car sales to climb, but the steady growth of long-term sales is related to the comprehensive competitiveness of the models. Considering the market competition, Xiaomi’s brand power and the positioning of the first model, it is estimated that the sales volume of the first SU7 will reach 500,000-100,000 units in 2024. Follow-up needs to focus on the climbing capacity of pure electric vehicles of 150,000-200,000 yuan. In addition, it is estimated that the gross profit margin of Xiaomi’s automobile business will be about single digits in 2024. It is estimated that the annual sales volume will be more than 300,000-400,000 vehicles, and the gross profit margin will climb to about 15%, which has the opportunity to break even.