Core Insights - The Hong Kong stock market saw a net inflow of 10.541 billion HKD from Northbound trading on September 26, with the Shanghai Stock Connect contributing 7.366 billion HKD and the Shenzhen Stock Connect contributing 3.174 billion HKD [1] Group 1: Stock Performance - Alibaba-W (09988) received the highest net inflow of 5.720 billion HKD, with total trading volume of 11.062 billion HKD, reflecting a net increase of 3.77 billion HKD [2] - Horizon Robotics-W (09660) attracted a net inflow of 8.63 billion HKD, with plans to use proceeds from a share placement to expand overseas market operations and invest in emerging fields [5] - Tencent (00700) saw a net inflow of 7.92 billion HKD, supported by its global digital ecosystem conference focusing on AI and internationalization [5] - Xiaomi Group-W (01810) recorded a net inflow of 6.05 billion HKD, despite a stock price drop following a product launch event [5] Group 2: Market Trends - Northbound trading has shown a strong interest in technology and AI-related stocks, with significant inflows into companies like Alibaba and Horizon Robotics, indicating a growing demand for digital transformation and AI solutions [4][5] - The semiconductor sector faced selling pressure, with SMIC (00981) and Hua Hong Semiconductor (01347) experiencing net outflows of 1.45 billion HKD and 2.12 billion HKD respectively, amid concerns over U.S. government regulations on semiconductor production [6]

小米17对标iPhone 17，难掩焦虑 作者／ IT时报 毛宇 编辑／ 钱立富 孙妍 9月25日晚，北京国家会议中心灯火通明，小米集团创始人雷军身着标志性休闲西装，站在第六次年度演讲的舞台中央。聚光灯下，他身 后的巨幕赫然打出"改变"二字——这个贯穿小米五年转型历程的关键词，成为整场演讲的灵魂主线。 "2020年，小米迎来了十周年。那时的我们，上市已经两年，年营收也突破2000亿元，成功跻身'世界 500强'。在很多人眼中，小米已经 非常成功了。但我内心，却充满着难以言说的焦虑。"演讲刚开始，雷军就诉说着彼时的"痛苦"。 五年前的焦虑是多重困境的叠加：行业内苹果、三星、华为如同几座无法逾越的大山，让小米几乎看不到赶超的希望；公司内部团队锐 气渐消；外界对小米"组装厂""没技术"的质疑如影随形。"那段时间我陷入严重的内耗"，雷军坦言。最终，从围棋中领悟的"复盘法"为 他指明了方向——经过四五十场、持续半年的深度研讨，小米明确了转型路径：从互联网公司转向"硬核科技公司"。随后五年，小米毅 然投入千亿资金攻坚核心技术。 演讲前两天，雷军在微博上发出意味深长的一句话："要同时供着两个孩子上大学，我压力巨大。"一时间 ...

Market Overview - The Hong Kong stock market continued its adjustment trend, with the Hang Seng Index closing at 26,128.20 points, down 356.48 points, a decline of 1.35% [1] - The Hang Seng Tech Index fell by 184.08 points, closing at 6,195.11 points, a decrease of 2.89% [1] Company Performance - Morgan Stanley maintains an "Overweight" rating on Xiaomi Group, with a target price of HKD 62, highlighting that the sales performance of the Xiaomi 17 series may exceed expectations, and customized services will be a key competitive advantage for Xiaomi's electric vehicle business [3] - Ideal Auto launched its new pure electric SUV model i6, priced between RMB 250,000 and RMB 300,000, but its stock closed down over 1% [3] - Xiaomi Group's stock fell by 8.07%, closing at HKD 54.65, following a product launch event where CEO Lei Jun mentioned that Xiaomi is one of the most criticized car manufacturers online [4] Sector Performance - The new energy vehicle sector showed mixed performance, with XPeng Motors rising over 5% to close at HKD 90.80, driven by the announcement of humanoid robot patents and a collaboration with Alibaba Cloud on post-quantum security technology [6] - In contrast, tech stocks generally declined, with Alibaba, JD.com, and Kuaishou dropping over 3%, and Tencent Holdings falling nearly 1% [8] - Wind power stocks performed well, with Ruifeng New Energy rising by 6%, while the biopharmaceutical sector weakened, with Rongchang Biopharmaceuticals dropping over 4% [8] Capital Flow - Despite the significant pullback in the Hong Kong stock market, southbound capital continued to buy aggressively, with a net purchase amount of HKD 10.5 billion, marking the third consecutive day of over HKD 10 billion in net inflows [8] Market Outlook - Several institutions believe the current market adjustment is a technical correction, and the medium to long-term positive trend remains unchanged. The liquidity and profit cycles in the Hong Kong market are still improving [10] - Recent U.S. employment data falling below expectations has raised market expectations for interest rate cuts, which may alleviate macro liquidity pressures on the Hong Kong market [10] - Both domestic and foreign capital, including southbound and foreign investments, are showing increased interest in Hong Kong stocks, suggesting a potential for a slow bull market in the medium to long term supported by liquidity improvement and corporate profit recovery [10]

特别声明：以上文章内容仅代表作者本人观点，不代表新浪网观点或立场。如有关于作品内容、版权或其它问 题请于作品发表后的30日内与新浪网联系。 来聊聊小米的高级选装和真正的高级定制到底有什么区别 来聊聊小米的高级选装和真正的高级定制 到底有什么区别 来聊聊小米的高级选装和真正的高级定制到底有什么区别。#小米汽车定制每月最多40台##大v聊车##我 和汽车日常# ...

Core Insights - Lei Jun's annual speech emphasizes the theme of "change," showcasing his personal journey and the transformation of Xiaomi from an internet company to a hard-tech enterprise [1][2] - The deep connection between Lei Jun and Xiaomi is a strategic choice, leveraging his personal brand to enhance Xiaomi's marketing and brand recognition [2][5] - As Xiaomi faces increasing challenges and crises, the reliance on Lei Jun's personal image may pose risks to the brand, necessitating a shift towards a more diversified spokesperson strategy [3][4] Group 1 - Lei Jun's storytelling ability has evolved, effectively linking personal experiences with Xiaomi's strategic direction, creating emotional resonance with the audience [1][2] - The transformation of Xiaomi's identity involves not just product line expansion but a fundamental change in the company's core identity [1][5] - Lei Jun's personal brand has become synonymous with Xiaomi, but this model may have limitations as the company grows more complex [2][3] Group 2 - Recent crises, such as the serious accident involving the Xiaomi SU7, have placed significant pressure on Lei Jun's personal image, impacting the brand's reputation [3][4] - The need for Xiaomi to transition from a brand heavily reliant on personal charisma to one that emphasizes systemic capabilities and institutional innovation is highlighted [4][5] - The market's reaction to Lei Jun's recent speech, including an 8.07% drop in Xiaomi's stock price, indicates a potential shift in investor sentiment towards the brand's reliance on his personal narrative [4][5]

Group 1: Market Overview - On September 26, Hong Kong technology stocks experienced a significant decline, with the Hang Seng Tech Index dropping over 3% at one point, and Xiaomi Group's stock falling by over 8% [1][2] - The overall market sentiment indicates that liquidity easing is expected to provide marginal support to the Hong Kong stock market, which is anticipated to maintain a trend of fluctuating upward [1][4] Group 2: Xiaomi Group Performance - Xiaomi Group's stock price fell sharply, closing down 8.07% at HKD 54.65 per share, with a total trading volume of HKD 23.35 billion [2] - The decline in Xiaomi's stock is attributed to short-term investors cashing out after the company's product launch event, despite the positive reception of the new Xiaomi 17 series and other products [2][3] - Xiaomi's chairman, Lei Jun, emphasized the importance of self-developed chips for the company's success, committing to invest at least RMB 50 billion over the next decade [2] Group 3: Future Outlook for Hong Kong Stocks - Morgan Stanley maintains an "overweight" rating on Xiaomi Group, projecting that the sales performance of the Xiaomi 17 series may exceed expectations, potentially accelerating Xiaomi's market share growth in the high-end smartphone segment [3] - Citic Securities notes that the current phase of the long-term bull market for Hong Kong stocks began in the fourth quarter of last year, with expectations of continued liquidity easing over the next 1-2 years [4] - UBS expresses optimism regarding the growth potential of Chinese stocks, particularly in the technology sector, forecasting a moderate earnings growth of 3% for companies in the MSCI China Index by Q2 2025 [5]

Market Overview - A-shares experienced a decline on September 26, with the ChiNext Index dropping over 2% and the Hang Seng Index falling more than 1% [1] - The Shanghai Composite Index closed down 0.65% at 3828.11 points, while the Shenzhen Component Index fell 1.76% to 13209 points [1] - The total trading volume in the three markets (Shanghai, Shenzhen, and Beijing) was 216.64 billion yuan, a decrease of 22.56 billion yuan from the previous day [1] Pharmaceutical Sector - The pharmaceutical sector saw significant declines, with stocks like Guangsheng Tang dropping nearly 15% and Xiangrikui and Borui Pharmaceutical falling over 10% [3][4] - Borui Pharmaceutical has accumulated a nearly 40% drop over the last five trading days, despite the company stating that its daily operations remain normal and there have been no significant changes in market conditions [4][5] Semiconductor Sector - The semiconductor sector also faced a downturn, with stocks such as Lianang Microelectronics hitting the daily limit down and others like Dongwei Semiconductor and Gai Lun Electronics dropping over 6% [8][9] - Reports indicate that the Trump administration is considering a new semiconductor policy that could impose a 100% tariff on companies that do not maintain a 1:1 ratio of domestically produced to imported semiconductors [9][10] Wind Power Sector - The wind power sector showed resilience, with stocks like Weili Transmission and Huazi Technology hitting the daily limit up, and others like Taiyuan Heavy Industry and Xiangdian Co. also reaching their limits [12][13] - The National Energy Administration reported that as of the end of August, the cumulative installed capacity of wind power reached 580 million kilowatts, a year-on-year increase of 22.1% [12][14] - The acceleration of domestic offshore wind projects and favorable policies are expected to support the growth of the wind power sector, with major companies actively expanding into overseas markets [14]

9月26日，小米法务部发文：长期以来，部分MCN机构和网络黑水军持续发布不实言论，恶意造谣诋毁 我司，破坏清朗的网络舆论环境。为维护我司的合法权益，小米法务始终坚持依法依规推进法律维权工 作。 2025年至今，小米法务已完成对16465条舆情线索的法律评估，重点监测网络账号231个，并针对其中92 个恶意侵权账号提起民事诉讼，依法追究相关侵权人的法律责任。目前，部分案件已进入法院审理阶 段，我们将适时公布案件进展。 同时，我们亦关注到部分小米车主无端遭受网络攻击的情形，小米法务已协助部分车主进行维权，目前 已发起车主维权诉讼共计35件，后续我们将持续重点关注此类网络侵权行为。 我司将以"零容忍"的态度，强化舆情监控，追责到底，绝不姑息。小米法务将充分运用法律手段，坚决 打击一切侵权行为，切实守护品牌商誉和用户名誉。 ...

转自：贝壳财经 【#客服回应小米背屏游戏壳#】#小米背屏游戏壳唤起00后童年回忆# 9月25日，小米新品发布会推出小 米17系列，可搭配背屏玩游戏的复古掌机壳同步亮相，引网友热议，不少网友直呼"我的童年全回来 了"。26日，@密度财经 致电小米一门店，其客服表示，使用背屏玩游戏需搭配官方专属手机壳，该手 机壳是无线充电的，佩戴后会通过壳身触点与手机背盖接触实现自动供电，且手机壳自身耗电量极低， 日常使用中几乎可忽略不计。值得注意的是，客服还表示，该保护壳需依赖手机供电，若手机没电，保 护壳的游戏功能也将无法使用。 ...

9月26日，港股三大指数集体收跌，恒生科技指数跌2.89%报6195点，恒生指数跌1.35%再度回到26000 关口附近，国企指数跌1.49%险守9300点。 | 代码 | 名称 √ | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 800000 | 恒生指数 | 0 | 26128.20 | -356.48 | -1.35% | | 800700 | 恒生科技指数 | | 6195.11 | -184.08 | -2.89% | | 800100 | 国企指数 | | 9303.10 | -141.12 | -1.49% | 盘面上，重科技股集体下挫，小米大跌超8%，京东、快手、阿里巴巴跌超3%；机器人概念股集体下 跌，地平线机器人跌超8%；特朗普表示10月1日起对任何品牌或专利的医药产品征收100%的关税，生 物医药股集体下跌，创新药方向跌幅明显；美国考虑限制海外芯片进口，半导体芯片股多数出现下跌行 情，龙头中芯国际跌5%。另一方面，2025年1-7月中国风力发电量产量累计增长10.4%，风电股全天表 现强势，金风科技涨超4%；重型 ...