Lu Weibing from Xiaomi: Expects the gross profit margin of the electric vehicle business to decline in 2026.

On November 18th, Lu Weibing, the partner of Xiaomi Group and group president, stated in a performance conference call that there are many participants in the automotive industry at present, and the industry is still in a very early stage of development. It is expected that the market will experience a period of intense competition before effective integration and convergence can be achieved. Based on this, it is expected that the company's gross profit margin level will decrease next year compared to this year.