Group 1 - The core viewpoint of the article is that Lei Jun discussed the new generation SU7 during a live stream, highlighting the popularity of the "Capri Blue" color choice, which received nearly three times the votes compared to "Gulf Blue" in an online survey [1] - The new generation SU7 will feature three color options, with "Capri Blue" being selected to appeal to a segment of consumers while avoiding widespread dislike [1] - Lei Jun mentioned that blue is the lucky color for SU7, while green is designated as the lucky color for YU7 [1] Group 2 - The new generation Xiaomi SU7 will offer six wheel designs, including new options such as the diamond wheel for 19 inches and the sharp blade wheel for 20 inches [3] - Other wheel options for the 20-inch category include the plum blossom wheel and the rice-shaped wheel, while the 21-inch category features the sports wheel and the double-layer forged plum blossom wheel [3]

小米集团-W回购明细 证券时报·数据宝统计，小米集团-W在港交所公告显示，1月15日以每股37.860港元至37.920港元的价格 回购390.00万股，回购金额达1.48亿港元。该股当日收盘价37.860港元，上涨0.21%，全天成交额43.97 亿港元。 自1月13日以来公司已连续3日进行回购，合计回购1190.00万股，累计回购金额4.51亿港元。 其间该股 累计下跌2.27%。 今年以来该股累计进行8次回购，合计回购3245.00万股，累计回购金额12.41亿港元。（数据宝） | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2026.01.15 | 390.00 | 37.920 | 37.860 | 14777.98 | | 2026.01.14 | 400.00 | 37.800 | 37.720 | 15109.00 | | 2026.01.13 | 400.00 | 38.040 | 37.940 | 15200.88 | | 2026.01.09 | 400.00 ...

Market Overview - On January 15, the Hang Seng Index fell by 0.28%, closing at 26,923.62 points, with a total net sell of 1.515 billion HKD through the southbound trading channel [1] - The total trading volume for the southbound trading was 119.834 billion HKD, with a net sell of 1.515 billion HKD [1] Southbound Trading Details - In the Shanghai-Hong Kong Stock Connect, the trading volume was 74.697 billion HKD with a net buy of 1.930 billion HKD, while the Shenzhen-Hong Kong Stock Connect had a trading volume of 45.137 billion HKD with a net sell of 3.446 billion HKD [1] - The top traded stock in the Shanghai-Hong Kong Stock Connect was Alibaba-W, with a trading amount of 84.25 billion HKD and a net buy of 17.90 billion HKD, despite a closing price drop of 2.60% [1] - In the Shenzhen-Hong Kong Stock Connect, Alibaba-W also led with a trading amount of 44.51 billion HKD, followed by Tencent Holdings and Xiaomi Group-W with trading amounts of 17.26 billion HKD and 14.74 billion HKD respectively [2] Stock Performance - The stock with the highest net buy was China National Offshore Oil Corporation, with a net buy of 3.00 billion HKD and a closing price increase of 2.49% [2] - The stock with the highest net sell was Xiaomi Group-W, with a net sell of 4.91 billion HKD, while its closing price increased by 0.21% [2] - Other notable stocks included China Mobile, which had a net sell of 7.91 billion HKD and a closing price drop of 0.25% [1][2]

Core Viewpoint - On January 15, the Hang Seng Index fell by 0.28%, with southbound funds recording a total transaction amount of HKD 119.83 billion, resulting in a net sell of HKD 15.15 billion [1] Group 1: Southbound Fund Transactions - The total transaction amount for southbound funds was HKD 119.83 billion, with buy transactions at HKD 59.16 billion and sell transactions at HKD 60.68 billion, leading to a net sell of HKD 15.15 billion [1] - The southbound trading through Stock Connect (Shenzhen) had a total transaction amount of HKD 45.14 billion, with net sell of HKD 34.46 billion, while the trading through Stock Connect (Shanghai) had a total transaction amount of HKD 74.70 billion, resulting in a net buy of HKD 19.30 billion [1] Group 2: Active Stocks - Alibaba-W had the highest transaction amount among active stocks, totaling HKD 128.76 billion, with a net buy of HKD 19.76 billion, despite a closing price drop of 2.60% [1][2] - Tencent Holdings and SMIC followed with transaction amounts of HKD 50.96 billion and HKD 41.49 billion, respectively, with Tencent seeing a net buy of HKD 6.43 billion and SMIC a net buy of HKD 1.81 billion [1][2] - China Mobile experienced the largest net sell of HKD 7.91 billion, with a closing price decrease of 0.25%, while Xiaomi Group and CNOOC faced net sells of HKD 4.91 billion and HKD 3.66 billion, respectively [1][2] Group 3: Continuous Net Buying and Selling - Tencent Holdings and Alibaba-W were the only two stocks with continuous net buying for more than three days, with Tencent having a total net buy of HKD 96.50 billion over seven days and Alibaba-W with HKD 43.85 billion over four days [2] - China Mobile and Crystal International were the stocks with the highest continuous net selling, with total net sells of HKD 69.89 billion and HKD 7.61 billion, respectively [2]

Group 1 - Xiaomi announced a 7-year low-interest policy for its YU7 model, with a down payment starting at 49,900 yuan and monthly payments as low as 2,593 yuan, available from January 16 to February 28 [2] - Xiaomi also offers a "3 years 0 interest" option for the YU7, requiring a down payment of 74,900 yuan and monthly payments starting at 4,961 yuan [2] - Additionally, there is a limited-time offer of free dual zero-gravity seats for all YU7 models [2] Group 2 - Tesla introduced a 7-year ultra-low interest purchase plan for its Model 3/Y/Y L, with a down payment starting at 79,900 yuan and monthly payments as low as 1,918 yuan for Model 3 [4] - For Model Y L, the down payment starts at 99,900 yuan with monthly payments as low as 2,947 yuan, and a 5-year 0 interest option is also available [4] - The competitive landscape is highlighted by Xiaomi's CEO Lei Jun, who noted that the SU7 is the only electric sedan to surpass the Model 3 in sales, emphasizing the importance of product quality [6] Group 3 - Lei Jun shared that Xiaomi aims to deliver 410,000 vehicles in 2025, with a target of 550,000 for the current year, indicating a strong focus on the automotive sector [8] - The company is optimistic about the YU7's potential to compete with Tesla's Model Y in the future [6]

Core Viewpoint - Xiaomi's founder and CEO Lei Jun announced that the new generation of Xiaomi SU7 is making progress and may be showcased in some Xiaomi stores before the Spring Festival [1] Group 1: Product Launch and Pricing - The new generation of Xiaomi SU7 has started pre-orders on January 7, with a price range of 229,900 to 309,900 yuan, and is expected to be launched in April 2026 [3] - Lei Jun mentioned that the SU7 is in its final stages, and arrangements will be made to display vehicles in stores before the official release [3] Group 2: Technical Upgrades - The new generation SU7 will feature the Xiaomi V6s Plus super motor, which has undergone four major technical upgrades [5] - The motor's maximum speed has been increased to 22,000 rpm, with a 1.5% improvement in CLTC comprehensive efficiency [5] - The power output for the standard and Pro versions has been increased by 15 kW, while the Max version sees a power increase of 13 kW [5] - Key technological enhancements include segmented magnetic steel technology, optimized motor rotor topology, deep optimization of the power module, and an active lubrication system [6][7]

Group 1 - Tesla China has launched a 7-year low-interest car purchase plan, prompting Xiaomi to respond with a similar offer for its YU7 model [1] - Xiaomi's CEO Lei Jun announced the new financing policy during a live broadcast, which will be available from January 16 to the end of February [1] - The financing plan for the YU7 requires a down payment starting at 49,900 yuan, with monthly payments as low as 2,593 yuan [1]

Group 1 - The core viewpoint of the article is that Xiaomi's founder and CEO Lei Jun emphasizes the importance of accurate marketing terminology, specifically criticizing the industry's practice of using inflated voltage numbers in electric vehicle specifications [1][5] - Lei Jun highlights that the new Xiaomi SU7 electric vehicle uses specific voltage figures like 752V and 897V instead of rounding them to 800V or 900V, indicating a commitment to transparency and accuracy in marketing [1] - The company aims to rectify the "small character marketing" issue, which Lei Jun describes as an industry habit, and is willing to adopt higher standards in its communications [5] Group 2 - Lei Jun questions the acceptability of using inflated voltage figures, asking if consumers would accept 600V being marketed as 800V, thereby challenging the industry's norms [5] - The company is taking immediate steps to correct its marketing practices, as Lei Jun previously mentioned in a live broadcast on January 3, indicating a proactive approach to addressing misconceptions about its marketing strategies [5] - Lei Jun asserts that any claims of false or excessive marketing regarding compliant practices are significant misunderstandings of Xiaomi's intentions [5]

Core Viewpoint - The automotive market is transitioning from an incremental growth phase to a more mature, competitive environment, with 2026 expected to be a pivotal year for both domestic and joint venture brands [1][6]. Group 1: Market Trends - The past two years have seen a significant decline in retail sales of passenger cars, with November and December figures showing year-on-year decreases of approximately 8% and 14% respectively [1]. - The market is shifting from an incremental to a stock market, indicating a more competitive landscape where price wars have been prevalent among domestic giants and new entrants [2]. - The competition has led to a clearer definition of product characteristics, with new entrants setting trends that traditional giants have begun to follow [5]. Group 2: Competitive Landscape - Joint venture brands are currently experiencing a window of opportunity due to the competitive environment easing, allowing them to regain some market share [3][10]. - The competition has resulted in a transfer of product definition power from joint ventures to new entrants, with traditional brands focusing on maintaining market share rather than aggressive expansion [4][10]. - The marketing strategies of joint venture brands are evolving, with a shift towards more localized development and pricing strategies [13][14]. Group 3: Future Outlook - By 2026, joint venture brands are expected to have more operational space as the competitive pressure diminishes, with companies like Toyota and Nissan already showing promising sales in their new energy lines [7][9]. - The market for vehicles priced between 10,000 to 20,000 remains a battleground, with joint venture brands still holding significant influence in this segment [20][21]. - Upcoming strategic new models from joint venture brands, such as the Volkswagen ID.ERA and Toyota Platinum 7, are anticipated to play a crucial role in shaping market dynamics this year [21].

Core Insights - Xiaomi's new generation SU7 will offer 9 color options, retaining 4 from the previous model and introducing 3 new colors including Capri Blue [1] - The expected launch price for the revamped SU7 is starting at 229,900 yuan, with a pre-order deposit of 1,000 yuan that is refundable after the launch [1] - The new SU7 will feature a silicon carbide high-voltage platform across all models, with varying CLTC ranges: Standard version 720 km, Pro version 902 km, and Max version 835 km [1] - All models will be equipped with laser radar and full-featured driver assistance [1]