Core Viewpoint - Xiaomi's founder Lei Jun has actively engaged in addressing public concerns and misinformation regarding the company, emphasizing the importance of transparency and responsiveness to customer feedback [1][7]. Group 1: Public Relations and Misinformation - Lei Jun shared a post on social media highlighting the challenges of combating rumors, stating that the company will continue to clarify misunderstandings about Xiaomi [1]. - A blogger noted a shift in public perception towards Xiaomi, suggesting that recent criticisms may stem from a desire to provoke rather than genuine concerns [3]. - Xiaomi's public relations team has been actively debunking false claims, including the "Green Belt Warrior" controversy, which they attribute to deliberate misinformation campaigns [3][7]. Group 2: Product Adjustments and Customer Feedback - Lei Jun acknowledged the issue of "small font marketing" as a long-standing industry problem and committed to making changes by using larger fonts in future communications [5]. - The company has been responsive to user feedback, with Lei Jun stating that they will listen to constructive criticism and make necessary adjustments [7]. - Xiaomi has introduced two models, the Xiaomi SU7 and Xiaomi YU7, with the SU7 set to launch on March 28, 2024, priced between 215,900 to 299,900 yuan, and the YU7 priced between 253,500 to 329,900 yuan [10]. Group 3: Sales and Market Strategy - Xiaomi reported over 50,000 vehicle deliveries in December, indicating a growing presence in the automotive market [10]. - The company is addressing inventory challenges by offering "near-new" and "showroom" vehicles to meet customer demand, as some orders have been canceled [9][10].

Major Events - CATL (03750) plans to issue an additional 34.8584 million shares [1] - MINIMAX-WP (00100) fully exercised its over-allotment option involving a total of 4.3796 million shares [1] - MIRXES-B (02629) established a strategic partnership with N Health, and its HELICORapid and FITRapid home testing kits received regulatory approval [1] - LFG Investment Holdings (03938) was acquired by Chen Shaoyang, who purchased approximately 61.43% of shares at a discount of about 59.46% through a cash offer, with resumption of trading on January 12 [1] - Xiansheng Pharmaceutical (02096) plans to spin off its H-shares for independent listing on the main board of the Hong Kong Stock Exchange [1] - OmniVision Technologies (00501) saw its public offering in Hong Kong oversubscribed by 9.28 times, with a share price of HKD 104.8 [1] - China Nonferrous Mining (01258) released its production guidance for 2026, expecting a total copper output of approximately 484,000 tons [1] - China Rare Earth Holdings (03788) reported a 53.1% increase in JORC ore reserves to 2.62 million ounces, with JORC gold resources rising to 5.54 million ounces [1] - Black Sesame Intelligence (02533) plans to issue a total of 30.1319 million subscription shares, raising approximately HKD 568 million [1] - Shanghai Pharmaceuticals (02607) received approval for the production of bromhexine oral solution [1] - Beijing Energy International (00686) signed an EPC contract for a 100 MW wind power project in Heilongjiang Province [1] - Standard Chartered Group (02888) plans to issue SGD 750 million fixed-rate reset perpetual subordinated convertible securities [1] Share Buybacks/Reductions - Geely Automobile (00175) repurchased 1.547 million shares for HKD 26.6229 million on January 9 [2] - Sunny Optical Technology (02382) repurchased 840,000 shares for HKD 53.9894 million on January 9 [2] - Xiaomi Group-W (01810) repurchased 4 million shares for HKD 151 million on January 9 [2] Operating Performance - China Jinmao (00817) achieved a cumulative contracted sales amount of RMB 113.5 billion for 2025, a year-on-year increase of 15.52% [2] - Jiumaojiu (09922) reported stable performance for its main brands in the fourth quarter [2] - CIFI Holdings Group (00884) recorded a cumulative contract sales amount of approximately RMB 16.1 billion for 2025 [2] - R&F Properties (02777) reported total sales revenue of approximately RMB 14.21 billion for 2025, a year-on-year increase of 26.54% [2] - Zhongliang Holdings (02772) reported a cumulative contract sales amount of approximately RMB 12.07 billion for 2025, a year-on-year decrease of 32.68% [2] - Shui On Land (00272) achieved a cumulative contract property sales amount of RMB 7.916 billion for 2025 [2] Additional Performance Metrics - Greenland Hong Kong (00337) reported contract sales of approximately RMB 7.214 billion for 2025, a year-on-year decrease of 21.66% [3] - Yuzhou Group (01628) achieved a cumulative sales amount of RMB 6.727 billion for 2025 [3] - New World Development (01030) reported contract sales of approximately RMB 1.354 billion in December [3] - China Shipbuilding Defense (00317) expects a year-on-year increase of 149.61% to 196.88% in net profit attributable to shareholders for 2025 [3] - Longyuan Power (00916) completed a cumulative power generation of 76.4694 million MWh for 2025, a year-on-year increase of 1.22% [3] - Sunny Optical Technology (02382) reported a December shipment of 95.592 million mobile phone lenses, a year-on-year decrease of 8.9% [3] - COFCO Joycome (01610) reported a December pig output of 567,000 heads, a month-on-month increase of 1.43% [3] - Dekang Agriculture (02419) sold 1.1097 million pigs in December, generating sales revenue of RMB 1.664 billion [3] - Hengding Industrial (01393) reported a coal output of 5.415 million tons for 2025, a year-on-year increase of 31% [3] - Orient Overseas International (00316) reported a 17.2% decrease in quarterly shipping revenue compared to the same period last year, with total cargo volume up 0.8% and carrying capacity up 4.5% [3]

Core Viewpoint - The discussion emphasizes that the term "marketing" does not accurately represent Xiaomi's development path, as the company is fundamentally driven by technology rather than marketing strategies [2] Group 1: Marketing Perception - Lei Jun recalls a past event where he was labeled a "marketing master," which has led to a negative connotation regarding Xiaomi's success being attributed solely to marketing efforts [2] - Lei Jun expresses discomfort with the term "marketing," indicating that it is often used derogatorily when referring to Xiaomi's achievements [2] Group 2: Company Identity - The company, founded on a technical background, seeks to distance itself from the notion that its success is merely a result of marketing tactics [2] - Lei Jun argues that while marketing is a neutral term, its application to Xiaomi can undermine the company's core identity as a technology-driven organization [2]

作者：龚进辉 最近，小米掌门人雷军、小米董事长特别助理徐洁云均在新年首场直播中回应了"200km/h瞬间刹停"的 争议。 其中，徐洁云认为这是断章取义。"很多人可能不了解具体情况，实际上这句话有前后语境。当时小米 拍摄相关视频，初衷是想向大家展示小米SU7 Ultra的刹车性能。雷总在工厂测试道路上实测，加速到 200km/h后刹停，真实体验了这一过程，拍摄时驾驶感受非常震撼，之后才发出感慨。" 徐洁云打了个比方，就像看剧一口气看了十几集。"如果这样的表述都要被抠字眼，不断上纲上线到虚 假宣传的程度，大家可以想想是不是哪里出了问题。"他感慨道。雷军也无奈地表示，这种尬黑给自己 造成很大的心理阴影，以至于现在讲每一句话都得反复斟酌，为了这次直播，甚至准备厚厚一本"小 抄"，恨不得念稿子。 不知你发现了没，2026年一开年，雷军已举行两场直播，主动回应相关争议和质疑，背后是小米公关策 略的调整，即从沉默到主动出击。雷军坦言，过去对诋毁采取"不理睬"策略，认为"清者自清"可化解争 议，但自从小米汽车上市后，长期系统性黑公关攻击（如剪辑技术参数、捏造事故标签"绿化带战神"） 导致大众认知偏差，最终意识到沉默成本远高于 ...

Core Insights - The global automotive industry saw significant changes in market capitalization rankings by December 2025, with most companies experiencing growth, particularly Chinese automakers [1] Group 1: Global Automotive Market Capitalization - Tesla remains the highest valued company with a market capitalization of 101,828.27 billion yuan, showing a month-on-month increase of 0.63% and a year-on-year increase of 7.64% [2][4] - Toyota ranks second with a market capitalization of 23,638.71 billion yuan, reflecting a month-on-month growth of 5.06% and a year-on-year growth of 2.41% [2][4] - CATL (Contemporary Amperex Technology Co., Limited) ranks third with a market capitalization of 16,761.75 billion yuan, experiencing a month-on-month decline of 1.51% but a year-on-year increase of 43.12% [2][4] - BYD ranks fifth with a market capitalization of 8,909.33 billion yuan, with a month-on-month increase of 2.68% and a year-on-year increase of 8.34% [2][4] Group 2: Domestic Automotive Market Capitalization - BYD leads the domestic market with a market capitalization of 8,990.33 billion yuan, significantly higher than the combined market caps of the next four companies [5] - The second-ranked company, Seres, has a market capitalization of 2,080.25 billion yuan, showing a month-on-month decline of 4.31% but a year-on-year growth of 3.29% [5] - Great Wall Motors ranks third with a market capitalization of 1,936.65 billion yuan, with a month-on-month increase of 3.33% but a year-on-year decline of 13.97% [5] - SAIC Motor ranks fourth with a market capitalization of 1,749.58 billion yuan, reflecting a month-on-month increase of 1.67% and a year-on-year decline of 27.19% [5] - Geely ranks fifth with a market capitalization of 1,725.89 billion yuan, showing a month-on-month increase of 10.69% and a year-on-year increase of 22.97% [5] Group 3: Future Outlook - The commercialization of L3 autonomous driving is expected to become a focal point for industry development in 2026, with projections indicating that the domestic L3 autonomous driving market could exceed 1.2 trillion yuan by 2030 [8] - The first conditional L3 autonomous driving vehicle approvals have been granted to BAIC Arcfox and Changan Deep Blue, allowing for conditional autonomous driving on designated roads [8] - The Chinese new energy passenger vehicle market is anticipated to achieve high-quality growth in 2026, supported by favorable policies, potentially leading to increased sales and market share for Chinese automakers [8]

雷军表示，相比第一代，标准版和Pro版涨价1.4万元，Max版涨价1万元。"首先我想跟大家解释的是，这次升级的内容真的非常多，新一代 SU7 从里到外 都有了巨大的进步。比如，标准版和 Pro 版都升级到了 800V 碳化硅高压平台。而且，我们全系标配了激光雷达，辅助驾驶硬件也全部满配。简单说，光 这些硬核配置的升级，价值就得好几万。这就好比传统燃油车把『三大件』都全面升级了一样。""除了产品升级，还有一个现实原因，就是供应链成本的 上涨。现在车规级内存是按季度涨价的，上季度涨了 40%-50%，据说一季度还要再涨，甚至有报道说要涨 70%。按这个趋势，今年光是车用内存这一 项，成本就要增加几千块钱。加上大宗材料也在涨，成本压力真的很大。我看到有些网友评论猜测，说按照行业惯例，正式售价肯定会比预售价便宜个 1 到 2 万；还有人说「相信小米肯定加量不加价」。在这里我得跟大家交个底：这真的不太可能。在如今成本大涨，我们又实实在在加了好几万配置的情况 下，我们真的没有能力再做到「加量不加价」了，这一点请朋友们务必谅解。" 资讯所属栏目还有更多独家策划、专家专栏，免费查阅>> 在全新一代小米SU7正式官宣并开启小订 ...

Core Viewpoint - Xiaomi is currently facing a significant public relations crisis, characterized by a series of unfounded rumors and controversies that have impacted its brand image and necessitated extensive efforts to clarify and defend its reputation [1][3][9]. Group 1: Rumor Incidents - The controversy began with a rumor about a village chief selling agricultural products under the name "Xiaomi," which led to accusations of the company suppressing farmers [3]. - Xiaomi's 17 Ultra Leica version was accused of "fake zoom ring" due to a misinterpretation of a disassembly video, despite the original creator clarifying the mechanical design [5]. - Misleading interpretations of Xiaomi's promotional language, such as "instant stop at 200 km/h," have also contributed to the company's challenges, with critics accusing it of false advertising [7]. Group 2: Company Response and Public Perception - Xiaomi has issued numerous clarifications in response to over ten rumors in the past six months, indicating a proactive approach to managing its public image [9]. - The cost of spreading rumors is low, while the effort required to debunk them is substantial, involving data retrieval and expert consultations [9]. - Despite the challenges, there is a growing recognition among the public of the truth behind the rumors, with more individuals expressing support for Xiaomi's commitment to transparency and technology [10][12]. Group 3: Industry Implications - The situation highlights the broader issue of misinformation in the digital age, where a single rumor can damage a brand significantly, while rebuilding trust requires extensive effort [12][14]. - Xiaomi's commitment to addressing these challenges reflects a dedication to product integrity and consumer trust, which are essential for long-term success in the competitive tech industry [14].

Group 1: Xiaomi SU7 Launch - Xiaomi announced the pre-sale price of the new generation SU7 starting at 229,900 yuan, marking its first mid-term facelift since launch [1] - The new SU7 maintains the overall design but features adjustments in exterior, interior, and configuration, with a maximum range of 902 kilometers under CLTC conditions [1][6] - Key changes include enhanced computing power, millimeter-wave and laser radar, improved driver assistance systems, and nine airbags as standard across all models [5] Group 2: Market Context for SU7 - The current competitive landscape for new energy sedans has intensified, with brands like XPeng, Zeekr, Tesla, and Hongmeng making significant advancements [8] - Xiaomi's strategy for the mid-term update focuses on configuration optimization and detail improvements to stabilize user expectations and balance the market dynamics [8] - The official launch in April may include new purchase incentives or product adjustments, which will be crucial for market performance [8] Group 3: Zeekr 8X Introduction - Zeekr recently unveiled the official images of its mid-large SUV, the Zeekr 8X, which is positioned as a high-performance flagship vehicle [10][11] - The expected starting price is around 400,000 yuan, with the main sales version anticipated to start at 430,000 yuan [11] - The 8X features a design similar to the Zeekr 9X, with a focus on sporty aesthetics and advanced driving assistance capabilities [11][12] Group 4: NIO ES9 Announcement - NIO's ES9 has appeared in the latest Ministry of Industry and Information Technology vehicle directory, marking its first official public appearance [16] - The ES9 is positioned as a flagship SUV with a design that aligns closely with the ES8, emphasizing administrative and high-end travel attributes [16][20] - It features a dual-motor all-wheel-drive system with a total output of 707 horsepower and is expected to utilize NIO's battery swap network for charging [18][20] Group 5: XPeng P7+ Launch - XPeng officially launched the 2026 P7+, offering four configurations with both pure electric and range-extended powertrains [22] - The pure electric version has a maximum CLTC range of 725 kilometers, while the range-extended version achieves a total range of 1550 kilometers [22][24] - The P7+ maintains its existing design while enhancing its intelligent features and charging efficiency, positioning it against competitors like BYD Han and LYNK & CO [24][26]

Core Insights - The conference recognized outstanding private enterprises and individuals in employment and social security, highlighting the significant role of private companies in job creation and employee welfare [1][2]. Group 1: Recognition of Companies - Beijing-based companies such as JD.com, Xiaomi, and Meituan were awarded as "National Advanced Private Enterprises in Employment and Social Security" [1]. - JD.com employs 900,000 people, including over 4,000 disabled employees and more than 600,000 couriers, with over 80% of its workforce coming from rural areas [1]. - Xiaomi has signed collective contracts and employee handbooks covering over 50,000 employees, achieving a 100% labor contract signing rate, and provides comprehensive commercial insurance and free health check-ups for its employees [1]. Group 2: Employee Welfare Initiatives - Meituan's delivery riders are predominantly from rural areas, with 636,000 from key support counties and over 10,000 disabled riders; the company has initiated a new occupational injury insurance pilot [2]. - Meituan has provided coverage for over 16.68 million riders, with a total insurance premium of 2.56 billion yuan, and its pension insurance subsidies are nationwide by November 2025 [2]. - Beijing March Rain Cultural Communication Co., Ltd. was recognized for its labor union's efforts in maintaining harmonious labor relations, achieving 100% coverage of social insurance and a 97% employee membership rate [2]. Group 3: Individual Recognition - Zhen Youmei, a technical manager at Beijing Shengshi Runhe Ecological Construction Co., Ltd., was honored as an "Outstanding Employee" for her dedication to the nursery industry and contributions to industry standards [3].

Group 1 - Lei Jun, the CEO of Xiaomi, has expressed feeling psychologically affected by online abuse, indicating that it has made him cautious in his public communications [5][12] - The automotive industry is experiencing intense competition, leading some companies to resort to unethical practices, such as hiring "black water armies" to attack competitors [8][12] - There are two types of "black water armies": one funded by competing car companies to discredit rivals, and another that generates negative content for profit through artificial intelligence [9][10] Group 2 - The existence of "black water armies" is illegal, and companies should engage in fair competition to reduce their prevalence [12] - Genuine criticism from ordinary users is acceptable, but it should not cross the line into defamation or misinformation [14][16] - Xiaomi has acknowledged its marketing controversies and is willing to make adjustments, which has garnered some support from the public [16][18]