Core Insights - Xiaomi Group's stock experienced a decline of 2.01% after initially dropping over 3% on September 29 [1] - Analyst Ming-Chi Kuo revised the shipment forecast for the Xiaomi 17 series down by 20%, from an original target of approximately 10 million units, indicating potential shipments may fall below the 8 million units of the 15 series if no aggressive pricing or marketing strategies are implemented [3][4] Group 1: Shipment and Demand Analysis - The primary reason for the downward revision is the lower-than-expected demand for the standard version of the Xiaomi 17 series, which was initially expected to account for 50-55% of total shipments but only represented about 15-20% after launch [4] - Although there has been an increase in orders for the Pro Max and Pro models, it has not compensated for the reduced orders of the standard version [4] Group 2: Competitive Landscape - The Xiaomi 17 series faces competitive pressure from both iPhone and Huawei smartphones. The iPhone 17 standard version has exceeded sales expectations in the Chinese market, and upcoming models in 2026 will further intensify competition [4] - Huawei's high-end models are currently facing demand issues due to compatibility with the HarmonyOS, but this situation is expected to improve in 2026 [4] Group 3: Company Response and Sales Performance - On the same day as the shipment revision, Xiaomi's President Lu Weibing expressed confidence in the sales performance of the Xiaomi 17 series, stating that initial sales were promising and that the Pro Max model was performing particularly well [5] - The company has decided to increase orders for the Pro model and has also introduced a new 1TB version of the standard model, which will begin delivery on October 5 [5] - The Xiaomi 17 series was officially launched on September 25, with starting prices set at 4,499 yuan for the standard model, 4,999 yuan for the Pro, and 5,999 yuan for the Pro Max [6]

格隆汇9月29日丨小米集团-W(01810.HK)公告，9月29日耗资2700万港元回购50.7万股。 ...

小米集团-W(01810)发布公告，于2025年9月29日斥资2699.62万港元回购股份50.74万股，每股回购价格 为53.15-53.25港元。 ...

智通财经APP讯，小米集团-W(01810)发布公告，于2025年9月29日斥资2699.62万港元回购股份50.74万 股，每股回购价格为53.15-53.25港元。 ...

| 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | 52.11 亿元 | +18.96 亿元 | | 小米集团-W(01810) | 36.91 亿元 | +5.73 亿元 | | 中芯国际(00981) | 30.22 亿元 | +3.62 亿元 | | 腾讯控股(00700) | 24.53 亿元 | +2.30 亿元 | | 盈富基金(02800) | 18.12 亿元 | -18.07 亿元 | | 华虹半导体(01347) | 12.93 亿元 | -8412.65 万元 | | 美团-W(03690) | 9.89 亿元 | +821.61 万元 | | 理想汽车-W(02015) | 8.99 亿元 | +1.25 亿元 | | 晶泰控股(02228) | 8.29 亿元 | -8819.96 万元 | | 快手-W(01024) | 8.22 亿元 | +3.71 亿元 | 沪港通（南向）十大活跃成交公司 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 小米集团 (於開曼群島註冊成立以不同投票權控制的有限公司) 呈交日期： 2025年9月29日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 不同投票權架構公司普通股 | 股份類別 | B | | 於香港聯交所上市 | | 是 | | | | 證券代號 (如上市) | 01810 | | 說明 | | | | | | | | | 多櫃檯證券代號 | 81810 | | RMB 說明 | | | | | | | | | A ...

Core Viewpoint - The annual speech by Lei Jun focused on Xiaomi's automotive ambitions and the challenges faced in the electric vehicle (EV) sector, highlighting the company's significant investments in both automotive and chip manufacturing [2][3][5]. Group 1: Automotive Business Performance - Xiaomi's automotive revenue reached 21.3 billion yuan in Q2 2025, marking a 234% year-on-year increase, with vehicle deliveries hitting 81,302 units, a 197.7% increase from the previous year [8][10]. - The average selling price (ASP) and production capacity improvements contributed to the revenue growth, with the gross margin for Xiaomi's automotive segment rising to 26.4% in Q2 2025 [12][16]. - Xiaomi aims to achieve single-quarter profitability in its automotive business in the second half of the year, with a target of delivering 350,000 vehicles by year-end [16][18]. Group 2: Challenges in Production and Delivery - Xiaomi faces significant challenges with long delivery times for its vehicles, with the SU7 and YU7 models having delivery timelines extending up to 48 weeks, which is considerably longer than competitors like BYD and Tesla [20][22]. - The company is reportedly expanding its workforce to address production capacity issues, as the current delivery delays could lead to customer dissatisfaction and potential cancellations [22][24]. - Analysts suggest that Xiaomi's rapid growth in the automotive sector may have outpaced its operational capabilities, leading to production and quality control challenges [35][36]. Group 3: Quality Concerns and Market Perception - Recent quality issues, including a recall of over 110,000 SU7 vehicles for software upgrades, have raised concerns about Xiaomi's product reliability and quality control [5][30]. - Complaints from customers regarding vehicle performance and quality have surfaced, indicating a potential backlash against the brand if these issues are not addressed promptly [30][31]. - The company's marketing strategies, while effective in generating interest, may have led to unrealistic customer expectations, which could harm brand reputation if not managed carefully [36][37].

智通财经APP获悉，9月29日港股市场，北水成交净卖出16.54亿港元，其中港股通(沪)成交净卖出23.58亿港元，港股通 (深)成交净买入7.04亿港元。 北水净买入最多的个股是阿里巴巴-W(09988)、腾讯(00700)、小米集团-W(01810)。北水净买入最多的个股是盈富基金 (02800)、中国移动(00941)、华虹半导体(01347)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 阿里巴巴-W HK 09988 | 51.75 乙 | 35.15 乙 | 86.90亿 | | | | | +16.60亿 | | 小米集团-W HK 01810 | 33.23 乙 | 29.00亿 | 62.23 亿 +4.23 Z | | 腾讯控股 HK 00700 | 26.63 乙 | 14.00 亿 | 40.63亿 | | | | | +12.641Z | | 盈富基金 | 254.26万 | 39.79 亿 | 39.81亿 | | HK 02800 | | | -39.76 Z | | 中芯国际 | 1 ...

新浪科技讯 9月29日晚间消息，对于备受热议的广告中使用"小字标识"现象，星纪魅族集团中国区CMO 万志强表示，本来不想提的，既然有人拿出来说了，那就补充两句。其实都是为了遵循法规，各家都会 有一些备注说明，"不过魅族内部当时特别强调了，保留语境语义前提下，补充限定词我们要写的尽量 明显些，不要让人有被误导的感觉，产品观中包含价值观。" 责任编辑：何俊熹 此前，小米17 Pro系列手机预热海报中用醒目大字打出"逆光之王"的宣传标语，同时也在海报角落用小 字体注明："逆光之王是产品设计目标"。 ...

摩根士丹利发表报告指，小米17系列智能手机首日销量及销售收入均突破2025年国内同业品牌历史纪 录。另一项惊喜在于最高阶机型17 Pro Max首日销售占比超过50%，显示小米在高端智能手机市场的份 额提升速度可能进一步加快。 根据初期反馈，创新性的背面荧幕设计成功吸引消费者目光，大摩认为此销售成绩证实小米策略成效显 著，包括高端机型设计聚焦用户体验优化；强化线下分销网络，为高端市场渗透奠定基础；透过差异化 功能(如背面荧幕)提升高端产品吸引力。该行对小米评级"增持"，目标价为62港元。 ...