Simplify the following text for a Grade 8 native English-speaking person.
Original: In his first season in Formula One , Hamilton set numerous records , while finishing second in the 2007 Formula One Championship , just one point behind Kimi RÃ ikkÃ nen .
Simplified: In his first season in Formula One , Hamilton set many racing records . He finished second in the 2007 Formula One Championship , just one point behind Kimi RÃ ikkÃ nen .