In-Depth Analysis of Synergistic Effects Between E-Tech Automotive Electronics and the Xiaomi Ecosystem

Based on collected public information, I will systematically analyze

.

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Xiaomi has carried out strategic equity investment in E-Tech Automotive Electronics through three of its investment platforms, forming deep binding [1][2]:

Investor	Investment Time	Investment Method	Shareholding Details
Hainan Jimu	November 2021	Equity Transfer	Acquired registered capital held by Guofu Fund and Wuhu Jiatai
Xiaomi Changjiang Fund	December 2021	Capital Increase and Share Expansion	Subscribed 11.6146 million yuan of newly increased registered capital
Xiaomi Intelligent Manufacturing	October 2022	Capital Increase + Equity Transfer	Subscribed 5.487 million yuan of newly increased registered capital and acquired part of the equity

As of now,

, making it one of E-Tech Automotive Electronics’ largest industrial investors [1]. This equity cooperation reflects the following synergy logic:

• Strategic Capital Support
  : Xiaomi provided critical capital support during E-Tech Automotive Electronics’ business expansion phase
• Supply Chain Anchoring
  : Xiaomi locked in a high-quality core supplier for smart vehicles at a relatively low valuation
• Two-Way Empowerment
  : Formed a strategic closed-loop of ‘Investor-Supplier’

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As a

in the industry, E-Tech Automotive Electronics’ product portfolio is highly aligned with Xiaomi Auto’s business [3][4]:

Product Category	Market Position	Technical Advantages
Body Domain Controller	25.50% market share in 2024, three consecutive domestic championships	Independent controllability of software and hardware
Intelligent Cockpit Domain Controller	6.41% market share, top 3 in the industry	Cockpit domain and display assembly
Digital Key	13.83% market share, top in the industry	UWB positioning technology
Millimeter Wave Radar	Original Equipment (OE) supporting	Perception layer for intelligent driving
AR-HUD	Mass production supporting	Head-up display technology

• Technical Complementarity
  : E-Tech Automotive Electronics’ technical advantages in domain controllers, intelligent cockpits and other fields directly support Xiaomi Auto’s technical route of ‘Intelligent Driving + Intelligent Cockpit + Ecosystem’ [4]
• Supply Chain Security
  : By investing in E-Tech Automotive Electronics, Xiaomi ensures stable supply of core automotive electronic components and reduces supply chain risks
• Cost Optimization
  : Large-scale procurement and collaborative R&D effectively control per-vehicle costs

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Xiaomi’s ‘Human-Vehicle-Home’ full ecosystem strategy forms in-depth synergy with E-Tech Automotive Electronics’ automotive electronics business [5]:

┌─────────────────────────────────────────────────────┐
│              Xiaomi's "Human-Vehicle-Home" Full Ecosystem              │
├─────────────────────────────────────────────────────┤
│                                                     │
│   Smartphone ←→ Smart Vehicle ←→ Smart Home                   │
│       ↓           ↓           ↓                    │
│   User Data    Cockpit Interaction    IoT Interconnection                   │
│       ↓           ↓           ↓                    │
│   ════════════════════════════════════              │
│        Unified Account System × Cloud Interconnection × Scenario Linkage            │
│                                                     │
└─────────────────────────────────────────────────────┘
                      ↓
         ┌────────────────────────┐
         │   Supported by E-Tech Automotive Electronics    │
         │  • Intelligent Cockpit Domain Controller     │
         │  • Body Domain Controller         │
         │  • Digital Key             │
         │  • Ethernet Gateway           │
         └────────────────────────┘

:

• Cockpit Ecosystem Integration
  : E-Tech Automotive Electronics’ intelligent cockpit products support Xiaomi’s HyperOS on vehicles, enabling seamless flow between mobile phones, vehicle infotainment systems, and smart homes
• Open IoT Interface
  : E-Tech Automotive Electronics’ IoT communication interfaces support access to Xiaomi Ecosystem devices, building an open ‘Human-Vehicle-Home’ interconnection system
• Data Sharing
  : Based on a unified account system, cross-scenario data connectivity of user usage habits is achieved

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Xiaomi has provided multi-round financing support to E-Tech Automotive Electronics through its industrial fund cluster and in collaboration with ecosystem partners [6]:

Financing Round	Time	Amount	Lead Investor	Co-Investor
Series C	Recent Years	Over RMB 500 million	PICC Capital, Xiaomi Industrial Investment, CICC Capital, GigaDevice	SMIC Xicheng, etc.

:

• GigaDevice Synergy
  : As a fellow Xiaomi Ecosystem enterprise, GigaDevice (chip design) co-invested in E-Tech Automotive Electronics, forming a three-level synergy of ‘Chip - Module - System’
• Supply Chain Integration
  : Investment led by Xiaomi’s industrial fund helps optimize the synergy efficiency between E-Tech Automotive Electronics and chip suppliers
• Valuation Advantage
  : Under the joint investment model of ecosystem enterprises, E-Tech Automotive Electronics obtains more reasonable valuation pricing

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According to Xiaomi Auto’s electrical and electronic architecture plan, there is room for deepened cooperation between the two parties in the following fields [7]:

Technology Direction	Xiaomi’s Demand	E-Tech Automotive Electronics’ Capability	Synergy Prospect
Central Domain Control Integration	Four-in-One Domain Control Module	Full-stack capability of domain controllers	In-depth participation in VCCD R&D
Intelligent Cockpit	Snapdragon 8295 Cockpit Chip	Cockpit Domain Controller	Provide customized solutions
5G Communication	Dual 5G Parallel Communication	Ethernet Gateway	In-depth cooperation on T-Box
Intelligent Key	UWB Digital Key	UWB Anchor Technology	Create seamless access experience

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E-Tech Automotive Electronics ←──── Strategic Investment ────→ Xiaomi Auto
   │                              │
   │  Product Supply                    │  Ecosystem Empowerment
   │  Joint R&D                    │  Channel Sharing
   │  Production Capacity Guarantee                    │  Data Connectivity
   ↓                              ↓
  [Core Supplier of Smart Vehicles] ←────→ ["Human-Vehicle-Home" Full Ecosystem Closed-Loop]

• Market Position Enhancement
  : E-Tech Automotive Electronics broke the monopoly of international manufacturers in the body domain controller field and won three consecutive domestic championships [3]
• Business Scale Growth
  : In 2024, E-Tech Automotive Electronics achieved operating revenue of RMB 3.467 billion and net profit of RMB 202 million [3]
• Supply Chain Security
  : Xiaomi obtained a stable core supplier of automotive electronics, reducing the risk of being ‘strangled’ in key technologies

As Xiaomi Auto expands its production capacity (the 500,000th whole vehicle rolled off the production line in November 2025) and launches new models, E-Tech Automotive Electronics, as a deeply bound core supplier, is expected to achieve greater business growth. Meanwhile, the joint R&D between the two parties under the trend of

will provide a solid hardware foundation for Xiaomi’s ‘Human-Vehicle-Home’ full ecosystem strategy.

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[1] Shanghai Stock Exchange - Reply to the Review Inquiry Letter for the Initial Public Offering and Listing Application Documents of Wuhu E-Tech Automotive Electronics Co., Ltd. on the Shanghai Stock Exchange (https://static.sse.com.cn/stock/disclosure/announcement/c/202510/002079_20251024_MJHI.pdf)

[2] Eastmoney.com - E-Tech Automotive Electronics Prospectus Application Draft (http://pdf.dfcfw.com/pdf/H2_AN202506201694426319_1.pdf)

[3] NetEase Finance - E-Tech Automotive Electronics Wins Three Consecutive Domestic Championships in Body Domain Controllers, to Hold IPO Hearing on January 20 (https://www.163.com/dy/article/KJDSVND5051987V2.html)

[4] China Galaxy Securities Research Institute - Creating a Blockbuster Hit: Xiaomi Auto’s First Model Reputation Effect (https://pdf.dfcfw.com/pdf/H3_AP202404091630092554_1.pdf)

[5] Sina Finance - How Xiaomi’s Technical Moat Connects Home Appliances, Automobiles, and Robots (https://news.sina.cn/bignews/insight/2026-01-09/detail-inhfsfzx6023203.d.html)

[6] Securities Times - E-Tech Automotive Electronics Completes Over RMB 500 Million Series C Financing (https://www.stcn.com/article/detail/719933.html)

[7] Xiaomi Auto Official Website - Electrical and Electronic Architecture (https://www.xiaomiev.com/eea)