Core Insights - Xiaomi Auto has launched the new generation SU7 with pre-sale prices starting at 229,900 yuan for the standard version, 259,900 yuan for the Pro version, and 309,900 yuan for the Max version, reflecting price increases of 14,000 yuan for the standard and Pro versions, and 10,000 yuan for the Max version compared to the previous model [1][3] - The new SU7 is expected to be officially launched in April 2026, with an upgrade option available for existing SU7 owners who have not yet received their vehicles [1] - The new SU7 features advanced technology including laser radar and 4D millimeter-wave radar, along with a flagship chip providing 700 TOPS computing power for precise environmental recognition in all conditions [3] Delivery and Performance - Xiaomi's SU7 has achieved significant delivery milestones, with over 360,000 units delivered in just 21 months, averaging more than 17,000 units per month [3] - As of January 1, 2025, Xiaomi Auto reported that its monthly delivery volume exceeded 50,000 units for the first time, following three consecutive months of deliveries over 40,000 units [3] - The total cumulative delivery for 2025 has surpassed 410,000 units, with a target of 550,000 units set for 2026 [3]

Core Viewpoint - The launch of the new generation Xiaomi SU7 marks a significant step for Xiaomi in the electric vehicle market, with strong initial demand and a focus on safety and technology upgrades [1][2]. Group 1: Product Launch and Demand - The new generation Xiaomi SU7 is set to be released in April 2026, with a starting price of 225,900 yuan [1]. - The initial response to the SU7 has been remarkable, with over 50,000 orders placed within 27 minutes and nearly 89,000 orders within 24 hours [1]. - The SU7 is projected to top the sales chart for electric sedans priced above 200,000 yuan in 2025, establishing its benchmark status in the electric sedan market [1]. Group 2: Safety and Design Enhancements - The new generation SU7 will undergo comprehensive upgrades in design quality, comfort, safety, assisted driving, and battery life [1]. - Safety is a top priority, with the new SU7 adhering to the "China-Europe five-star" safety standard and utilizing upgraded materials, including 2200Mpa ultra-high-strength steel for its body structure [1][2]. - The battery pack features enhanced protection with a bulletproof coating and a 1500Mpa anti-scratch bottom beam to improve safety in complex road conditions [2]. Group 3: Intelligent Driving and Performance - The new generation SU7 will come standard with advanced driving assistance hardware, including laser radar and 4D millimeter-wave radar, supported by a flagship chip with 700 TOPS computing power for precise environmental recognition [2]. - The range of the new SU7 has been improved, with the standard version increasing from 700 km to 720 km, the Pro version from 830 km to 902 km, and the Max version from 810 km to 835 km, making the Pro version the longest-range electric sedan currently available [2]. - The new SU7 will be available in three versions with pre-sale prices of 229,900 yuan for the standard version, 259,900 yuan for the Pro version, and 309,900 yuan for the Max version [2].

格隆汇1月7日｜据小米汽车消息，新一代SU722.99万元起售。 ...

据快科技消息，已热销近2年的小米SU7将迎来改款，近期有爆料称新款SU7即将到店，升级点涵盖多 维度配置。 此次改款全系标配800V高压平台，支持5C超充，10%-80%充电仅需11.3分钟、补能525公里，能量转换 效率也提升约15%。 细节设计上，隐藏式门把手新增机械式设计，解决低温失灵、故障率高的问题；前备箱升级为电吸式， 轻触按钮即可自动开合；座椅按摩功能下放至全系，还配备了W-HUD抬头显示、10英寸AR-HUD等配 置，车内新增香氛系统、磁吸点等细节。 需要说明的是，以上爆料尚未经官方证实，仅作参考。而去年11月汽车博主韩路曾透露，小米SU7换代 预计2026年第二季度上市，升级较多但价格或涨2万元。 【#曝新款小米SU7将配机械门把手#，全系800V+激光雷达】 ml ID FT 预计2026年4月上市 ...

Investment Rating - The report assigns a "Buy" rating to Xiaomi Corp. with a 12-month target price of HK$53.50, indicating an upside potential of 38.0% from the current price of HK$38.76 [15][17]. Core Insights - Xiaomi is positioned as the world's 3 smartphone brand and a leading consumer AIoT/NEV platform, with a multi-year ecosystem expansion strategy under the "Human x Car x Home" framework, projecting revenue and EPS CAGRs of 24% and 28% respectively from 2024 to 2027 [13]. - The company plans to invest Rmb200 billion in R&D from 2026 to 2030, focusing on AI, assisted driving, and chipset development to enhance its competitive edge [7][14]. Summary by Sections Smartphone Segment - Xiaomi aims to increase the average selling price (ASP) of smartphones by raising prices for premium models and optimizing product structure, targeting a 1 percentage point annual market share increase in China [7][8]. - The company expects revenue growth in 2026 to be supported by government consumption subsidies and overseas expansion, while maintaining gross profit margin (GPM) at or above 2025 levels by reducing low-margin categories [8] AIoT Segment - The AIoT segment is seen as a profit stabilizer, with a revenue growth of approximately 20% year-over-year and a contribution of around 30% to overseas revenue by Q3 2025 [3][10]. - Xiaomi plans to expand its Mi Home store count to over 1,000 by 2026 and increase the contribution of large home appliances to its revenue [10]. Smart EV Segment - Xiaomi targets 550,000 unit deliveries for its smart EVs in 2026, up from over 410,000 in 2025, driven by increased manufacturing capacity and new model launches [9][11]. - The company focuses on the premium auto segment, which captures a significant profit pool, and plans to export EVs to Europe starting in 2027 [11][12]. R&D Investments - AI accounts for approximately 25% of Xiaomi's R&D budget, with plans to increase investments while leveraging AI for ecosystem empowerment and internal operations [14]. - Xiaomi has made significant progress in assisted driving technology and aims to release new features in 2026, alongside a commitment to self-developing chips for its smart EVs [14]. Share Buyback - In 2025, Xiaomi repurchased 150 million shares for a total consideration of HK$6.3 billion, indicating confidence in its stock value [14].

Group 1 - The core announcement is that Xiaomi's SU7 will soon undergo its first facelift, with the new generation model expected to launch in April and pre-orders starting today [1] - The current SU7 model has delivered over 360,000 units in just 1 year and 9 months, averaging over 17,000 units per month, making it a top-selling vehicle in the over 200,000 yuan segment [1] - The new generation SU7 will have a starting price of 229,900 yuan for the standard version, 259,900 yuan for the Pro version, and 309,900 yuan for the Max version [4] Group 2 - The new generation SU7 features enhanced safety with a 2200MPa ultra-strong steel embedded roll cage, nine airbags, and two additional rear side airbags [4] - It is equipped with advanced technology including laser radar, 700 TOPS computing power, 4D millimeter-wave radar, and Xiaomi's end-to-end driving assistance [5] - The Pro version offers a CLTC range of up to 902 km, while the Max version can gain 670 km of range with just 15 minutes of charging [5] Group 3 - The new model includes aesthetic upgrades such as new colors and wheel designs, and all versions are equipped with the V6s PLUS super motor for improved performance [8] - The Pro and Max versions feature closed dual-chamber air suspension and variable damping shock absorbers [8] - Interior redesign includes a new dark night black color scheme and a two-tone steering wheel, with a 1,000 yuan deposit required for pre-orders [8]

Group 1 - The company initiated a special investigation regarding the contact with certain KOLs and has reached a preliminary conclusion, resulting in immediate termination of the related contacts and a commitment to not engage in future collaborations [1] - The investigation concluded that the incident severely violated company principles and harmed the feelings of fans, leading to significant penalties for involved personnel, including termination and performance-related consequences for senior management [1] - The public expressed dissatisfaction with the company's plan to collaborate with KOLs, prompting a strong reaction from fans and leading to the company's decision to halt any potential partnerships [2][3] Group 2 - KOLs (Key Opinion Leaders) are defined as individuals or organizations with expertise and influence in specific fields, significantly impacting group purchasing behavior, distinguishing them from ordinary opinion leaders [3] - The company acknowledged the importance of fan sentiments and expressed regret for the confusion and discomfort caused by the situation [2][3]

北京商报讯(记者蔺雨葳)1月7日，小米集团创始人、董事长兼CEO雷军发布微博称，小米SU7将迎来首 次改款，新一代SU7预计4月上市，1月7日10时开启小订。小米汽车官方微博同步公布了SU7的新色"卡 布里蓝"。 ...

Core Viewpoint - Xiaomi's new generation SU7 is set to launch in April 2026, with pre-sales starting at 229,900 yuan [1][3] Group 1: Product Features - The new SU7 features enhanced safety redundancy [1][3] - It offers a long range, with a maximum CLTC range of 902 km [1][3] - The vehicle is equipped with full laser radar and top-level driver assistance configurations [1][3] - The chassis has been upgraded for improved driving quality [1][3] - The new model will showcase new colors, wheels, and interior designs [1][3]

Group 1: Technology Developments - Amazon launched a new AI chatbot website, Alexa.com, available to all Alexa+ early experience users, allowing online use similar to other AI chatbots like ChatGPT and Google's Gemini [2] - ZhiYuan introduced the SOP (Scalable Online Post-training) system aimed at achieving scalable deployment and intelligent operation of general-purpose robots in real-world environments [4] - iFlytek reported that its Starfire model training efficiency has been optimized to 85%-95% compared to NVIDIA's A100, following significant investments in domestic computing power solutions [5] Group 2: Corporate Actions and Partnerships - RoboTech's subsidiary ficonTEC signed a significant contract worth approximately €770,000 (about 63.08 million RMB) with a Swiss client for an automated optical switch packaging line, which will positively impact the company's operations [6] - Blue Glass Technology confirmed its strategic investment in Strong Brain Technology, exclusively undertaking the mass production of core hardware modules [8] - Aihua Long signed a strategic cooperation framework agreement with Shenzhen Brain Machine Star Chain Technology, focusing on market expansion and sales of brain-machine interface products [10] Group 3: Product Launches and Innovations - Hisense unveiled its new RGB Mini LED display technology at CES 2026, featuring a four-color chip architecture to enhance color performance [9] - AMD introduced the MI455X GPU and a 72-card server named "Helios," anticipating a significant increase in active AI users from 1 billion to 5 billion by 2030 [12] - Intel launched its third-generation Core Ultra series processors, marking a new era for AI PCs with edge AI computing power reaching 180 TOPS [13][14] Group 4: Financing and Market Movements - MiniMax's IPO was oversubscribed by over 1,200 times, raising more than 253.3 billion HKD, indicating strong market interest [17] - Strong Brain Technology completed approximately 2 billion RMB in financing, becoming the second-largest financing in the brain-machine interface sector after Neuralink [18] - ZhiZhan Technology successfully raised nearly 300 million RMB in its C round of financing, focusing on silicon carbide power modules and advanced electric drive systems [18] Group 5: Mergers and Acquisitions - Guanshang Technology announced plans to acquire 100% of Liao Jing Electronics, a key player in the defense technology sector, aiming for complementary and synergistic effects [19]