Share the QR code < / P > < p > with wechat scanning code to friends and circles of friends < / P > < p > < / P > < p > every reporter Dong Tianyi, every editor sun Lei < / P > < p > Xiaomi has made new progress in car making < p > recently, Xiaomi technology officially signed a cooperation agreement with the Management Committee of Beijing Economic and Technological Development Zone, announcing that Xiaomi automobile is settled in Beijing Economic Development Zone (Yizhuang), and determining the mass production time and capacity planning < p > different from previous speculation, Xiaomi did not adopt the way of acquiring existing factories. According to the plan in the cooperation agreement, Xiaomi automobile project will build Xiaomi automobile headquarters base, sales headquarters and R & D headquarters, and will build a complete vehicle factory with an annual output of 300000 vehicles in two phases, of which the production capacity of phase I and phase II are 150000 vehicles respectively. It is expected that the first vehicle will be offline and mass production will be realized in 2024 < p > "self built factories can control all aspects of vehicles" < / P > < p > in fact, the news that Xiaomi automobile settled in Beijing Economic Development Zone is not "news". As early as October 19 this year, Lei Jun, founder and chairman of Xiaomi technology, disclosed on Xiaomi investor day that Xiaomi automobile had been registered in Beijing on September 1, the first factory would be located in Yizhuang, Beijing, and the first product was expected to be mass produced in the first half of 2024 < p > picture source: Daily Economic News < / P > < p > some analysts believe that Xiaomi's landing in Beijing Economic Development Zone is partly because Xiaomi's intelligent factory is also here. More importantly, Beijing Economic Development Zone has formed a high-tech and cutting-edge industrial development pattern based on the four leading industries of new generation information technology, high-end vehicles and new energy intelligent vehicles, biotechnology and great health, robotics and intelligent manufacturing, as well as emerging industries. On the other hand, Beijing Economic Development Zone has laid out complete vehicle enterprises such as Beijing Benz and BAIC new energy, driving the formation of a relatively perfect high-end automobile and new energy automobile industry chain, which may play a positive role in the development of Xiaomi automobile < p > for the arrival of Xiaomi automobile, the relevant person in charge of Beijing Economic Development Zone said that the whole region will make efforts to provide guarantee services for Xiaomi automobile project, promote the early commencement and early production of the project, and jointly build Xiaomi automobile into a national brand of new energy vehicles with global influence < p > in the view of the industry, Xiaomi seems to be wiser to choose to build its own factory. Cui Dongshu, Secretary General of the national passenger car market information joint committee, said that for enterprises, self built factories and local government support have greater benefits than OEM production. In addition, the self built factory of Xiaomi automobile can better control all aspects of vehicle quality and safety and reduce potential risks < p > "manufacturing is also the core competitiveness of intelligent networked electric vehicles, and Tesla's super factory also provides a strong guarantee for Tesla (market performance)." an investor who asked not to be named told the daily economic news that for Xiaomi, the next more important thing is to learn how to effectively reduce manufacturing costs < p > step up the promotion of automobile related business < / P > < p > in addition to promoting the settlement of factories, Xiaomi automobile is also attracting talents from all parties, investing in industrial chain enterprises and completing the acquisition of automatic driving companies, so as to make full preparations for the research and development of related technologies. In August this year, Xiaomi announced the acquisition of Shendong technology, an automatic driving technology company, for us $77.37 million. Previously, Xiaomi also invested in Hesai technology, Zongmu technology, honeycomb energy, Ganfeng lithium and other companies According to incomplete statistics of Guojin securities, as of September 30, 2021, there were 62 enterprises in the field of intelligent vehicles in Xiaomi's investment layout, including 17 enterprises in intelligent driving layout, 13 enterprises in intelligent electric layout and 6 enterprises in intelligent cockpit layout, of which 22 enterprises were newly invested in 2021 < p > in terms of talent reserve, Lei Jun revealed on the Xiaomi investor's day that at that time, Xiaomi had received 20000 resumes and 453 R & D teams. According to the performance announcement of the third quarter of 2021 released by Xiaomi group (1810. HK), Xiaomi has more than 500 team members < p > with the rapid growth of the team, Xiaomi automobile also launched a talent incentive plan. On October 25, Xiaomi group held an extraordinary general meeting of shareholders and approved the adoption of the equity incentive plan of "Xiaomi EV". The equity plan corresponds to Xiaomi automobile, and the equity incentive plan authorizes 1 billion shares. The management said that Xiaomi group has enough cash and cash flow to support the company's full auto business, and the current Xiaomi auto talent incentive plan is to better motivate employees to do a good job in the auto business < p > however, it should be noted that the R & D team size of Xiaomi automobile, which continues to "recruit troops and horses", is still significantly different from that of new car manufacturers such as Weilai, Xiaopeng automobile and ideal automobile. He Xiaopeng, CEO of Xiaopeng automobile, disclosed at the recent earnings conference call that as of September 30, 2021, the number of Xiaopeng automobile R & D Team exceeded 4000, an increase of more than 100% over the end of 2020; Ideal automobile previously said in the prospectus that as of March 31 this year, ideal automobile had 4900 employees, of which 1633 were in charge of R & D, accounting for 33.33%; The financial report of the second quarter of this year shows that by the end of June this year, the ideal automobile R & D personnel were 2224, accounting for 33.72% < p > "the shortcomings of Xiaomi's future car building lie in its lack of design and manufacturing capacity of the whole vehicle platform and its lack of accumulation of auto technology related to automatic driving. In the later stage, it may supplement its weaknesses and establish a new long board through investment, M & A and endogenous incubation." Guojin Securities said in the relevant research report that Xiaomi entered the market late as a "latecomer" in the field of intelligent vehicles, The accumulation of its own smart car related technologies is insufficient, and starting from "0" is not a wise choice. Therefore, Xiaomi should adopt resource integration, create an open ecological way, and catch up with the leading players of the track with the help of existing technologies and multi scene application experience in the field of automatic driving < p > related reading: < / P > < p > during the third quarter of this year, Xiaomi's profit dropped by 80%, Lei Jun's three-year "summit dream" flashed down < / P > < p > < / P > < p > radar financial products edited by Li Yihui < / P > < p > in the second quarter of this year, Xiaomi's shipment volume ranked second in the world for the first time, and it was within reach to reach the top. Lei Jun set the goal of Xiaomi's "summit in three years" in August < p > but a quarter later, the situation suddenly changed. Xiaomi not only lost its second position in the world, but also fell to the fourth place in the domestic market in the third quarter < p > according to the latest three quarterly reports, the shipments of Xiaomi mobile phones in this quarter decreased by 9 million compared with the second quarter. Other data show that Xiaomi's domestic sales in the third quarter were surpassed by glory < p > in addition, the company's profit in the third quarter was 789 million yuan, a year-on-year decrease of 83.8%%, down 90.5% month on month < p > what happened to Xiaomi group < p > the domestic sales volume in the third quarter was surpassed by glory < / P > < p > according to the third quarterly report released by Xiaomi on November 23, the shipments of Xiaomi in the current quarter were 43.9 million, 9 million less than that in the previous quarter and 2.7 million less than that in the previous quarter < p > looking back on the general environment of the smartphone industry in the third quarter of this year, "lack of core" has become a key word, and the price rise of components is also one of the challenges < p > according to Susquehanna financial group, an American investment company, the average delivery time of chip orders in summer has been extended to 19 weeks, and the average delivery time has increased to 22 weeks as of October. For scarce chips such as power management components, the delivery time is even longer < p > Apple previously claimed that its supply chain problems cost Apple $6 billion. Xiaomi also explained in the financial report that the decline in shipments was mainly due to the shortage of global core parts (including SOC) < p > at the media teleconference, Wang Xiang, President of Xiaomi, said that the core reason for the reduction of Xiaomi's shipment in this quarter was the shortage of chips, which affected the shipment of Xiaomi's mobile phones of about 10 million to 20 million < p > however, from the statistical data, although the tight supply chain is a common problem in the industry, Xiaomi is more affected < p > according to the report of canalys, a market research organization, in the third quarter, the global market share of Xiaomi mobile phone was 14%, less than Apple's market share of 15%, ranking third; Xiaomi's domestic market share was 14%, which was surpassed by the glory of 18% market share, ranking fourth < p > the above report also shows that in the third quarter of 2021, global smartphone shipments decreased by 6% year-on-year, while Xiaomi decreased by 7%, exceeding the average. In the same period, the shipments of oppo and vivo increased by 11% respectively < p > Xiaomi is also the one with the deepest "injury" in the Chinese market < p > IDC data show that in the domestic market, the shipment volume of glory in the third quarter doubled compared with the second quarter, and the market share increased from 8.9% to 17.3%. Millet shipments decreased by 21.8% month on month, and the market share shrank from 17.2% to 13.6%. The shipments and market share of vivo and oppo in the Chinese market also decreased, but the decline was less than that of Xiaomi < p > in this regard, there is a voice that Xiaomi has weakened its "bonus" due to Huawei's restrictions, and its own control of the supply chain has obvious loopholes, which can not support the continuous improvement of shipments < p > since last year, Huawei's mobile phones have been increasingly restricted by chips. Xiaomi has successfully grasped this time window and quickly made up for the gap brought by Huawei's exit in domestic, European and other markets. The second quarter of each year has always been the off-season for Apple's mobile phone shipments. Xiaomi once again seized the opportunity to surpass apple in one fell swoop, and its shipments came to the second place in the world < p > however, the core shortage became more and more serious in the third quarter. Nabila popal, director of global mobile device research at IDC, said that the smartphone market has never been completely free from the impact of supply shortage. However, before the third quarter, the shortage was not serious enough to lead to a decline in shipments. However, almost all manufacturers are now affected by the shortage < p > in this context, vivo and oppo advance the procurement period, and the glory after independence also arranges key parts in advance. In contrast, Xiaomi may not have foreseen a significant increase in shipments in the first half of 2021, resulting in a bottleneck in parts supply

quality and experience were make complaints about

too much. Besides, Wang Xiang also said that the market share of millet in the third quarter has declined, mainly related to the strong performance of iPhone 13. p> < p > but the reason was questioned. From the price of the two brands, the starting price of iPhone 13 is 5999 yuan, while the price of Xiaomi mix4 released in August is 4999 yuan, and the main models are not in the same segment. And the financial report shows that the average selling price of Xiaomi mobile phone in the third quarter was 1090.5 yuan < p > in addition, the official launch time of iPhone 13 is on September 24 near the end of the third quarter, which objectively has little impact on Xiaomi's data in the third quarter < p > under the articles related to Xiaomi in a financial community, netizens commented that Xiaomi's "quality is getting worse and worse, but the price is getting higher and higher", "Xiaomi's system is more expensive than his price, and there is no one of the most junk systems", "there are still too many advertisements in MIUI system, which makes people feel very bad"... < / P > < p > radar finance noted that since April this year, Xiaomi 11 / Pro / Ultra has caused constant rights protection and public opinion turmoil among consumers because of abnormal heating, motherboard damage, WiFi failure and other quality faults. Xiaomi's after-sales plan was accused of avoiding the important and neglecting the important and unable to meet the demand for returning and refunding the problem mobile phone, which greatly disappointed the Laomi fans who were willing to increase the price at the beginning < p > the new Xiaomi mix4 released in August also had a poor wind rating. This product with high market expectation was originally Xiaomi's high-end flagship positioning, and the comprehensive screen equipped with off-screen camera was also a big selling point, but there was no other "black technology", resulting in a rapid "diving" in price after unsatisfactory sales < p > the mix fold, another mix series model with folding screen launched this year, also reached 3100 yuan during the double 11, which made the outside world have doubts about the price system of Xiaomi < p > the civi series mobile phones released in September focused on women years ago. They are mainly sold through offline channels. However, according to users, this model has problems such as "unstable frame rate", "serious fever" and "loss of GPS signal"

software make complaints about the MIUI system also declined, especially after the MIUI 12 release. The system Caton, UI display errors, application flash back and other user Tucao Posts appear on the Internet. p> < p > profit was dragged down by investment business < / P > < p > mobile phone shipments fell, making Xiaomi's financial report slightly "dim" < p > according to the financial report, Xiaomi achieved an operating revenue of 78.063 billion yuan in the third quarter, a year-on-year increase of 8.2% and a month on month decrease of 11.1%; The operating profit was 2.73 billion yuan, a year-on-year decrease of 59.2% and a month on month decrease of 74.6%; The adjusted net profit was RMB 5.176 billion, with a year-on-year increase of 25.4% and a month on month decrease of 18.1%; During the period, the profit was 789 million yuan, a year-on-year decrease of 83.8% and a month on month decrease of 90.5% < p > on the whole, the revenue of 78.06 billion yuan is basically in line with market expectations under the impact of the supply chain. Split the three businesses of smart phones, IOT and Internet services. The revenue contributed by smart phones in this quarter was 47.83 billion yuan, accounting for 61.3%, a year-on-year increase of only 0.46% and a month on month decrease of 19.1% < p > in response to the increase in the cost of materials, the average delivery price of Xiaomi mobile phones increased by 6.6% year-on-year to 1089 yuan in the third quarter, offsetting the increase in costs, so that the gross profit margin of this part remained in double digits < p > the total revenue of IOT business was 20.9 billion yuan. Although it increased by 15.5% year-on-year, the growth rate decreased significantly month on month. In addition, the gross profit of Xiaomi IOT business in the third quarter of 2021 was 2.43 billion yuan, a year-on-year decrease of 6%; The gross profit margin of IOT business is only 11.6%. According to the analysis of insiders, the decline of these two indexes is caused by the rise of product portfolio and core parts prices < p > the revenue of Xiaomi's Internet business reached 7.3 billion yuan in the third quarter, a year-on-year increase of 27%, becoming the highest quarter since Xiaomi's listing. This part is mainly composed of advertising revenue, reaching 4.8 billion yuan < p > as for the car manufacturing business that has attracted much attention, the financial report did not disclose much. The latest news is that Xiaomi automobile settled in Beijing Economic Development Zone and will build a complete vehicle factory with a cumulative annual output of 300000 vehicles in two phases. The first vehicle will go offline and achieve mass production in 2024 < p > in terms of profit performance, the overall gross profit of Q3 Xiaomi group in 2021 was 14.292 billion yuan, a year-on-year increase of 40.6%, but a month on month decrease of 5.6% < p > according to the statement in the financial report, part of the long-term investment income held by Xiaomi has dragged down the profit level < p > by the end of the third quarter, Xiaomi had invested in more than 360 companies, with a total face value of 59.1 billion yuan. The change in fair value of investments included in profit or loss at fair value in the quarter was -1.976 billion yuan, compared with 3.417 billion yuan in the same period last year and 4.165 billion yuan in the second quarter of this year < p > according to Wang Xiang at the performance conference, the supply chain shortage will not ease until the second half of next year. After the release of the financial report, Bank of America, Goldman Sachs, Credit Suisse and other institutions have reduced the target price of Xiaomi < p > as of November 27, the market value of Xiaomi was about HK $470 billion, a decrease of more than 40% during the year < p > according to market news, in order to cope with the continuous decline of share price and pressure on mobile phone business, Xiaomi group recently announced a new round of organizational structure adjustment and cadre appointment, involving several departments of the group's management, mobile phone department, China region and Internet business department. Among them, in terms of personnel, Liu Yi, vice president of sales of Xiaomi International Department, was transferred to China as general manager of e-commerce department and in charge of offline provincial companies. In addition, Liu Li was appointed as the deputy general manager of the third sales operation Department and Li Gefei was appointed as the deputy general manager of the second sales operation Department, which is another personnel change after the transfer of the head of sales operation in Xiaomi China in September < p > can Xiaomi's performance take off after personnel adjustment? Radar finance will continue to pay attention < p > < / P > < p > note: This article is original by radar Finance (ID: leidacj). Unauthorized reproduction is prohibited