Core Viewpoint - Xiaomi has awarded its 2025 Technology Awards, highlighting significant innovations within the company, including the first prize for the玄戒O1 and notable advancements in materials and smart technology [1] Group 1 - The 2025 Technology Awards included a first prize of ten million RMB for the玄戒O1, showcasing Xiaomi's commitment to technological excellence [1] - The second prize was awarded to the 2200MPa Xiaomi super steel, indicating advancements in material science [1] - The third prize recognized the innovative architecture of Xiaomi's smart glasses, reflecting the company's focus on wearable technology [1] Group 2 - In early 2024, Xiaomi's founder Lei Jun awarded a one million USD annual technology prize to engineers, which has now been upgraded to ten million RMB for 2025, demonstrating an increase in the company's investment in innovation [1]

Core Insights - Xiaomi's transformation by 2025 is driven by three key factors: the density of its engineering team, long-term R&D investment capability, and the will to continue betting on uncertain directions [1][53][102] - The focus is not merely on the success of individual products but on the formation of a cohesive structure within the larger AI wave, where the competition is about having complex, real, and continuous application scenarios [1][53] Smartphone Business - Xiaomi's smartphone shipments in Q3 2025 reached 43.4 million units, maintaining a global market share of 13.6%, and showing a 1.3% year-on-year increase [3][54] - In the Chinese market, Xiaomi's sales in the 4000 yuan and above price segment rose to about 25%, indicating a shift from occasional high-end hits to a structural component of its offerings [5][56] - The smartphone has evolved from a high-cost-performance terminal to an ecological entry point, serving as a personal identity credential and a control hub for the interconnected ecosystem of vehicles and home appliances [5][56] Automotive Business - Xiaomi's electric vehicle deliveries reached a record high of 108,800 units in Q3 2025, with total deliveries exceeding 250,000 units in the first three quarters, and an annual target of over 400,000 units [8][59] - The automotive business transitioned from loss-making to operational profitability, with Q3 2025 revenue of approximately 28.3 billion yuan, nearly tripling year-on-year, and a gross margin of around 25% [11][62] - Xiaomi's self-developed intelligent driving technology has received multiple high-level driving licenses, showcasing its commitment to full-stack self-research in smart driving [13][64] AIoT Ecosystem - By Q3 2025, Xiaomi's AIoT platform connected over 1 billion devices, marking a significant increase from 624 million devices at the end of 2023 [22][73] - The AIoT ecosystem has evolved from "connecting everything" to "intelligent interconnection," with the voice assistant, Xiao Ai, upgraded to serve as a smart home hub capable of executing complex cross-device commands [23][74] - Xiaomi's AIoT devices are now part of a dynamic system that integrates user intent, cloud-based models, and home devices, enhancing the overall user experience [22][73] R&D and Manufacturing - Xiaomi's R&D investment in 2025 is projected to exceed 30 billion yuan, with a focus on building long-term capabilities rather than just optimizing functions and experiences [34][96] - The establishment of the Wuhan smart home appliance factory, with a planned annual capacity of 7 million air conditioners, represents a significant step in achieving a complete closed-loop from R&D to mass production [18][69] - Manufacturing capabilities have been enhanced through automation and digitalization, with the Beijing smartphone factory achieving high production efficiency and the automotive factory implementing advanced manufacturing techniques [41][94] Future Outlook - Xiaomi's strategy is to integrate all dispersed devices, scenarios, data, and capabilities into a cohesive system, positioning itself uniquely in the AI landscape [99][101] - The company is seen as an "ecological empire," with a complete structure that connects smartphones, vehicles, home appliances, and IoT, continuously expanding its boundaries and capabilities [50][101] - Xiaomi's long-term vision emphasizes patience in building foundational capabilities, which will support the expansion of its interconnected ecosystem [102]

Core Insights - A leading manufacturer is set to launch a large-screen flagship model in the first half of the year, likely the Xiaomi 17 Max, featuring an ultra-narrow four-edge pure flat screen design [1][4] - The new device is positioned as an "all-around large-screen flagship," maintaining high-end screen materials and craftsmanship, and will include a new generation silicon-carbon battery with a capacity expected to reach 8000mAh [1][4] - The Xiaomi 17 Max will also support 3D ultrasonic fingerprint recognition and high-level waterproofing, enhancing its overall performance [1][4] Product Features - The device will feature a metal middle frame and a simplified rear camera module, focusing on practical user experience rather than excessive differentiation in design [3][5] - Audio performance will be balanced rather than enhanced to match the Redmi series, emphasizing the device's practical utility [3][5] - The imaging capabilities are expected to align with the X300 standard, indicating mainstream flagship-level photography performance [3][5] Market Positioning - The Xiaomi 17 Max is designed to cater to large-screen users, with core upgrades in battery life, display quality, and overall configuration [4][6] - The strategy focuses on practicality and stability, avoiding unnecessary features while enhancing competitive strength in the large-screen flagship market expected in the first half of 2026 [4][6] - The previous generation, the Xiaomi 17 series, was launched in September 2025, featuring the Snapdragon 8 Elite Gen 5 processor, with the standard version priced at 4499 yuan and a peak screen brightness of 3500 nits [3][5]

目前，正式调查结果已经公布。经管理层审议认为，该 事件严重违反公司既定原则，损害了长期支持小米的用 户情感，构成重大违规行为。根据内部管理制度，决定 采取以下处理措施： 一、对直接涉事的经办人员予以辞退处理。 二、集团副总裁兼首席营销官许斐与集团公关部负责人徐洁云，因负有管理责任，给予通报批评，扣除 2025年度相应绩效，并取消当年度全部奖金。 官方同时表示，小米今日所取得的一切成果，离不开用户的长期信任与支持。公司对此事深表歉意，并 诚恳接受社会各界持续监督。 2026年1月6日，有消息传出小米与部分网络意见领袖进 行接触并计划投放内容，此事在用户群体中引发讨论。 次日，小米公司通过官方渠道发布声明，对事件作出回 应。 公司表示，针对此前团队与相关人士接触的情况，已第 一时间展开专项调查，并于当晚由公关部负责人向公众 通报初步处理决定：立即终止相关接触行为，并明确承 诺今后不再开展此类合作。 公司表示，针对此前团队与相关人士接触的情况，已第一时间展开专项调查，并于当晚由公关部负责人 向公众通报初步处理决定：立即终止相关接触行为，并明确承诺今后不再开展此类合作。 目前，正式调查结果已经公布。经管理层审议认为， ...

Core Viewpoint - Xiaomi's new generation SU7 electric vehicle is set to launch in April, marking its first major update since its initial release two years ago, with pre-orders now open [1][15]. Pricing and Model Variants - The pre-sale prices for the updated SU7 are as follows: Standard version starting at 229,900 yuan, Pro version at 259,900 yuan, and Max version at 309,900 yuan, indicating a significant price increase compared to the original launch prices [3][17][18]. Safety Enhancements - The new SU7 emphasizes enhanced safety features, with a focus on both passive and battery safety improvements. Key upgrades include: - All models equipped with a 2200MPa ultra-strong steel "embedded roll cage" and nine airbags, plus two additional side airbags for rear passengers [22][23]. - Battery safety features include a 1500MPa anti-scratch bottom beam and a "bulletproof coating" on the battery pack to mitigate risks from undercarriage scrapes [22][23]. Intelligent Driving and Range - The new SU7 will feature systematic upgrades in intelligent driving and range capabilities, including: - Standardized laser radar across all models for fully equipped assisted driving [24][25]. - Range specifications: Standard version at 720 kilometers, Max version at 835 kilometers, and Pro version at 902 kilometers, making the Pro version the longest-range variant [26]. Door Handle Controversy - The previously controversial hidden door handle issue was not addressed in the official materials, although there are rumors of a mechanical design addition to mitigate failures in low temperatures and electronic malfunctions [27][28]. - Reports suggest that the new design may include a mechanical pull cord similar to that used in Volkswagen's ID series, ensuring mechanical unlocking in case of power failure [29]. Regulatory Context - The door handle safety concern has gained attention due to past incidents where hidden handles failed during emergencies, leading to delays in rescue efforts [32][33][36]. - Regulatory bodies are moving towards stricter standards, with a proposed ban on fully hidden door handles set to take effect in January 2027 [38]. Delivery Targets - Xiaomi has raised its delivery targets, with a goal of 550,000 vehicles by 2026, following a significant increase in deliveries in 2025, which surpassed the initial target of 300,000 to 350,000 vehicles [12][39][40].

北京商报讯（记者 陶凤 王天逸）1月7日，小米集团创始人、董事长兼CEO雷军宣布，今晚（1月7日）8 点将开启直播，聊聊新一代SU7，并继续回应网上各种质疑："大家有啥问题，可以直接留言。" ...

Group 1 - Xiaomi Group (01810.HK) repurchased 3.9 million Class B shares for HKD 148.8 million on January 7 [1]

Group 1 - The core point of the article is that Xiaomi awarded its 2025 Technology Awards, with the top prize going to the self-developed chip "Xuanjie O1," which features advanced technology and significant performance metrics [1][6] - The "Xuanjie O1" chip utilizes a second-generation 3nm process, contains 19 billion transistors, and has a die area of 109mm², achieving a benchmark score exceeding 3 million [1] - Xiaomi's chip development began in 2014, but faced setbacks leading to a shift towards smaller chips until the decision to restart large chip development was made in 2021 [3][6] Group 2 - The second prize was awarded to "2200MPa Xiaomi Super Steel," developed in collaboration with Northeast University, which is noted as the strongest hot-formed steel in the automotive industry [1][8] - Xiaomi's "Xuanjie O1" chip is designed to compete with Apple's chips, boasting a 35% lower GPU power consumption and supporting dynamic performance scheduling [8] - Xiaomi has been awarding technology prizes annually since 2019, with no upper limit on the prize amount, and the award amount was upgraded to 10 million RMB in 2025 [9] Group 3 - The new generation SU7 is expected to launch in April 2026, with pre-orders already open starting at 229,900 RMB [9] - The SU7 has delivered over 360,000 units in just 1 year and 9 months, averaging more than 17,000 units per month, making it one of the best-selling cars priced above 200,000 RMB [11]

格隆汇1月7日丨小米集团-W(01810.HK)发布公告，2026年1月7日耗资1.49亿港元回购390万股，回购价 格每股38.12-38.2港元。 ...

Core Viewpoint - Xiaomi Group-W (01810) announced a share buyback plan, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Group 1 - The company will repurchase 3.9 million shares at a total cost of HKD 149 million [1] - The buyback price per share ranges from HKD 38.12 to HKD 38.20 [1] - Additionally, the company will issue 83,000 shares as part of a share incentive plan for participants, excluding directors of the issuer [1]