Let's take a look at what Lei Jun talked about during the New Year's live stream.
On the evening of December 31, Xiaomi founder, chairman, and CEO Lei Jun held a New Year's live stream at the Xiaomi automobile factory. As of the time of writing, the live stream is still ongoing.
During the live stream, Lei Jun discussed Xiaomi's development, stating that in 2022, Xiaomi's performance saw its first decline, dropping by 15%, and in 2023, it declined by another 3%. &#34;The stock price also fell from over 30 (HKD) all the way down to over 8 (HKD), I feel quite helpless,&#34; Lei Jun said. He often comforts himself with a saying: &#34;Every year is tough, but we get through it year after year, and it's not bad after a year.&#34; For this year, Lei Jun summarized: after hardship comes sweetness, and dreams come true. Lei Jun emphasized the importance of staying optimistic and always believing that good things will happen.
Data shows that this year, Xiaomi Group's stock price has increased by over 120%, closing at HKD 34.5 per share, approaching historical highs. In terms of performance, Xiaomi Group's third-quarter financial report revealed that the company's revenue reached a historical high in that quarter, with steady profit growth. Specifically, the company achieved operating revenue of 92.51 billion yuan, a year-on-year increase of 30.5%, and the adjusted net profit was 6.3 billion yuan, a year-on-year increase of 4.4%. As of September 30, 2024, Xiaomi's cash reserves amounted to 151.6 billion yuan, a year-on-year increase of 18.7%.
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During the live stream, Lei Jun revealed that Xiaomi automobiles achieved a delivery volume of 135,000 vehicles this year. He also mentioned that 60% of the initial sales of the Xiaomi SU7 were &#34;angel orders&#34; (meaning customers had neither seen nor test-driven the car), and currently, 30% of locked-in users have not test-driven the vehicle.
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Lei Jun also set a flag during the live stream: the delivery target for next year is 300,000 vehicles. Lei Jun stated, &#34;Many friends may not understand car manufacturers; many car companies may not exceed 300,000 in sales even after ten years. Even the most outstanding car manufacturer today, BYD, took ten years to surpass 300,000. So, exceeding 300,000 is definitely not an easy target. I see that tonight, Li Auto's annual deliveries have exceeded 500,000; congratulations to Li Auto, it's remarkable and worth our admiration and learning.&#34;
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In addition, when discussing Xiaomi automobiles, Lei Jun also made this year's &#34;last clarification.&#34; He stated that many marketing accounts have been praising him, claiming that he built the car with just over 10 billion yuan. In response, Lei Jun said that this is actually just the research and development costs, along with store setup, employee expenses, etc. &#34;So far, we have spent around 30 billion yuan. Although Xiaomi automobiles are doing well, we are not at the level that marketing accounts claim.&#34;
Lei Jun stated, &#34;Because I am fortunate to be an early investor in Li Bin and He Xiaopeng, I know how difficult it is to make cars. There is no sense of luck, and I do not intend to take any shortcuts or cheat. I hope everyone can respect the laws of the industry and not mythologize Lei Jun or Xiaomi.&#34; Lei Jun also mentioned that both successful and failed entrepreneurs deserve respect.
In addition, Lei Jun talked about a recent internet meme - &#34;Lei Jun's Wish Pool,&#34; saying it seems that whenever something is difficult for netizens, they wish for Lei Jun to do it.
In response, Lei Jun said that when he announced making cars, he stated that this would be his last entrepreneurial venture. &#34;There may be many worthwhile things to do in the world. Thank you for everyone's trust, and I hope entrepreneurs can find business opportunities in the 'Lei Jun's Wish Pool.'&#34; At the same time, Lei Jun also stated that Xiaomi can invest in related entrepreneurs.
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Xiaomi founder Lei Jun stated in the New Year's Eve live broadcast that Xiaomi's car delivery volume reached 135,000 units in 2023, with a target of 300,000 units for 2024. He mentioned that Xiaomi's stock price fell from over HKD 30 to over HKD 8, but has increased by more than 120% this year, closing at HKD 34.5 recently. Lei Jun summarized that the performance in 2022 declined by 15%, and further decreased by 3% in 2023, but remains optimistic about the future. Xiaomi's revenue in the third quarter was CNY 92.51 billion, a year-on-year increase of 30.5%

- On December 31, Xiaomi's founder Lei Jun discussed the company's challenges and achievements during a New Year's live stream, noting a 15% decline in 2022 and a 3% drop in 2023.  
- He highlighted a significant recovery in 2023, with Xiaomi's stock price rising over 120% and a record revenue of 925.1 billion yuan in Q3, alongside a delivery target of 300,000 vehicles for 2024.  
- Lei Jun emphasized the difficulties of the automotive industry and clarified that Xiaomi's investment in car manufacturing has reached around 30 billion yuan, urging respect for industry realities.

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Lei Jun: Next year's target is 300,000 vehicles! Discussing Xiaomi's stock price, debunking the rumor of "10 billion for car manufacturing," responding to "Lei Jun's wish pool"