Global Market Overview - The Chinese stock market has shown an upward trend, with healthcare, consumer discretionary, and real estate sectors leading, while energy, telecommunications, and conglomerates lagged behind. Southbound capital recorded a net inflow of HKD 18.72 billion, with Kuaishou, Xiaomi, and SMIC seeing the highest net purchases, while Tencent and China Mobile experienced significant net sales [3] - The A-share market saw gains in media, pharmaceuticals, and electronics, while oil, banking, and transportation sectors faced declines. The market is entering a spring offensive phase, with expectations that previously underperforming sectors like healthcare and consumer will outperform [3] - The U.S. stock market continued its upward trajectory, led by energy, financials, and consumer discretionary sectors, while defensive sectors like utilities, staples, and healthcare lagged. Major tech stocks such as Amazon and Tesla contributed to the gains [3] Economic Indicators - China's December RatingDog services PMI reached 52, indicating expansion, although new export orders contracted. Business outlook for the coming year has improved, with the government emphasizing the importance of innovation and the application of new technologies [3] - In the U.S., the December ISM manufacturing PMI unexpectedly contracted significantly, with new orders shrinking for the fourth consecutive month and inventory reduction accelerating. This data contributed to a decline in U.S. Treasury yields and a drop in the dollar [3] Sector-Specific Insights - AI demand is driving significant price increases in DRAM, with Samsung and SK Hynix planning to raise prices by 60%-70%. Strong demand for AI servers has led to Hon Hai's Q4 sales increasing by 22% year-on-year, with a notable 31.8% increase in December alone [3] - Nvidia's release of the new Rubin platform significantly reduces inference costs compared to the previous Blackwell platform, indicating advancements in AI technology [3] - The brain-machine interface industry may be approaching a critical commercialization turning point, with potential applications in medical rehabilitation, AI connectivity, and humanoid robot collaboration, as highlighted by Elon Musk's announcement regarding Neuralink's production timeline [3]

1月6日，南都N视频记者获悉，针对网络有关KOL合作争议，小米集团董事长特别助理、战略市场部副总经理徐洁云发文回应称，"经过仔细的调查确认， 我们的团队此前确实跟相关KOL有过接触。经大家提醒，经过查证，我们立即终止可能进行的任何形式的合作，且以后也不会合作。" 徐洁云发文回应。 据了解，此前有网友发文称，小米计划与有关自媒体KOL开展商业合作，消息一出便引起部分米粉的不满情绪，引发网友热议。在徐洁云和雷军的微博评 论区，也有不少网友留言抵制相关合作。 1月5日晚，徐洁云在社交平台发文称，"经过仔细的调查确认，我们的团队此前确实跟相关KOL有过接触。经大家提醒，经过查证，我们立即终止可能进行 的任何形式的合作，且以后也不会合作。用户、米粉朋友们的感受，的确是我们最在乎的事情。实在抱歉，给大家带来很多的困扰和不适。" 南都记者获悉，徐洁云接替王化，成为小米集团新任公关部总经理。 （文章来源：南方都市报） ...

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：情报员 国家知识产权局信息显示，北京小米移动软件有限公司取得一项名为"编码/解码视频画面数据"的专 利，授权公告号CN119895861B，申请日期为2023年4月。 天眼查资料显示，北京小米移动软件有限公司，成立于2012年，位于北京市，是一家以从事软件和信息 技术服务业为主的企业。企业注册资本148800万人民币。通过天眼查大数据分析，北京小米移动软件有 限公司共对外投资了4家企业，参与招投标项目149次，专利信息5000条，此外企业还拥有行政许可123 个。 ...

1月5日晚间，兼任小米公关部总经理不久的徐洁云在社交媒体上发布声明致歉。 徐洁云表示，经过仔细的调查确认，团队此前确实跟相关KOL有过接触。经大家提醒、经过查证，我 们立即终止可能进行的任何形式的合作，且以后也不会合作。同时，他说，"用户、米粉朋友们的感 受，的确是我们最在乎的事情。实在抱歉，给大家带来很多的困扰和不适，在此，诚挚向大家致歉！ " 向联想集团道歉并支付经济损失及相关费用共计16万余元。 针对此次事件，"万能的大熊"本人在微博回应称，"今天这个事情，确实和我一点关系都没有，我就是 出去吃个饭，陪孩子打篮球，结果就上了两个热搜。这个事情对车圈还是有一点小小的震撼，他们之前 也对大熊老师认知不太深刻，觉得粉丝也不多，流量也不大，怎么会有这样的地位。。现在大家终于明 白了，熊老师的影响力还是隐藏得太深了。" 该博主还表示："我还是那句话，四海之内皆兄弟，五湖震荡和为贵，不管前路多坎坷，过去的因果多 深重，只要秉持一颗为人民服务的心，就一定能够推动行业的发展和进步。" 本轮争议的导火索在于一位被视为是"米黑"的博主"万能的大熊"。 日前，有网传消息称，小米已与"万能的大熊"签订了年度框架合作协议，这一消 ...

Core Insights - The article contrasts two legendary figures in the internet industry: Jack Ma, who defined the era with visionary concepts, and Lei Jun, who responds to challenges with practical achievements in the automotive sector [1][8] Group 1: Leadership Styles - Jack Ma is characterized as a "solitary hero" who drives financing through vision, while Lei Jun is seen as a "campfire leader" who focuses on practical execution and real-world results [5][8] - Lei Jun's approach emphasizes the essence of industry, focusing on "extreme cost performance" and efficiency revolution by restructuring supply chains [3][6] Group 2: Financial Strength and Strategy - Lei Jun's financial strength is highlighted by a cash reserve of 108 billion yuan, allowing Xiaomi to avoid external financing risks when entering the automotive market [6] - The article notes that Lei Jun's capital strategy is built on solid cash reserves, contrasting with Ma's reliance on visionary funding [6][8] Group 3: Achievements and Market Impact - In 2025, Xiaomi's first SUV, YU7, achieved a delivery of 412,000 units, becoming the top-selling new energy SUV, showcasing Lei Jun's ability to deliver on promises [9] - The YU7's performance metrics, such as a 92% achievement rate for a 650 km range, demonstrate Lei Jun's commitment to product quality and transparency [9] Group 4: Challenges and Risks - The article discusses the potential risks associated with Lei Jun's personal brand becoming overly tied to Xiaomi, similar to the challenges faced by Jack Ma [11][12] - Lei Jun's future challenges include navigating the competitive landscape of hard technology and the need for Xiaomi to develop a decision-making culture independent of his personal influence [17][19] Group 5: Future Outlook - The article concludes with a call for Lei Jun to transcend Jack Ma's legacy and establish a unique identity that emphasizes practical achievements in hard technology [21]

据此前媒体报道，1月5日，南昌一小米YU7车主在提车时遭遇后备箱无法开启的问题。车主家属表示： 后备箱无论是用语音还是物理按键，甚至工作人员钻到后备箱里用应急开关都无法开启。对此车主表示 可能存在安全隐患，要求退车。 整个过程与车门机械拉锁完全无关。相关报道中，所称的"四个车门机械拉锁失效，其他车门打不开"完 全失实。" 凤凰网科技讯1月6日，小米公司发言人昨晚针对"江西南昌一女车主新提小米YU7'后备箱完全无法打 开'"的言论进行澄清。 官方表示，12月28日下午，江西一位车主提车过程中，遇到电控尾门暂时无法开启的故障。门店工作人 员进行车辆故障排查，并验证通过外在按钮打开后备箱，帮用户解决问题并获认可。 ...

1月5日晚，小米公司发布消息发布博文澄清关于小米YU7不实言论。小米表示，12月28日下午，江西一 位车主提车过程中，遇到电控尾门暂时无法开启的故障。门店工作人员进行车辆故障排查，并验证通过 外在按钮打开后备箱，帮用户解决问题并获认可。 小米指出，整个过程与车门机械拉锁完全无关。相关报道中，所称的"四个车门机械拉锁失效，其他车 门打不开"完全失实。 此前，有媒体报道称，南昌的熊女士半年前给女儿订购了一辆小米YU7，2025年12月28日提车时却发现 后备箱怎么都打不开。此外，工作人员钻到后备箱里尝试拉动应急拉手，也完全失效。 责任编辑：王翔 1月5日晚，小米公司发布消息发布博文澄清关于小米YU7不实言论。小米表示，12月28日下午，江西一 位车主提车过程中，遇到电控尾门暂时无法开启的故障。门店工作人员进行车辆故障排查，并验证通过 外在按钮打开后备箱，帮用户解决问题并获认可。 小米指出，整个过程与车门机械拉锁完全无关。相关报道中，所称的"四个车门机械拉锁失效，其他车 门打不开"完全失实。 此前，有媒体报道称，南昌的熊女士半年前给女儿订购了一辆小米YU7，2025年12月28日提车时却发现 后备箱怎么都打不开。此 ...

作者：情报员 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 国家知识产权局信息显示，北京小米移动软件有限公司取得一项名为"配置确定方法和装置、配置指示 方法和装置"的专利，授权公告号CN117425208B，申请日期为2020年12月。 天眼查资料显示，北京小米移动软件有限公司，成立于2012年，位于北京市，是一家以从事软件和信息 技术服务业为主的企业。企业注册资本148800万人民币。通过天眼查大数据分析，北京小米移动软件有 限公司共对外投资了4家企业，参与招投标项目149次，专利信息5000条，此外企业还拥有行政许可123 个。 ...

腾讯控股回购数量101.80万股，回购金额6.36亿港元，回购最高价为627.500港元，最低价为617.000港 元，年内累计回购金额12.71亿港元；小米集团-W回购数量380.00万股，回购金额1.49亿港元，回购最 高价为39.320港元，最低价为39.220港元，年内累计回购金额1.49亿港元；吉利汽车回购数量342.00万 股，回购金额6031.47万港元，回购最高价为17.900港元，最低价为17.520港元，年内累计回购金额 6031.47万港元。 集团 | 02598 | 连连数字 | 11.00 | 75.86 | 6.970 | 6.710 | 75.86 | | --- | --- | --- | --- | --- | --- | --- | | 00909 | 明源云 | 20.00 | 65.53 | 3.280 | 3.270 | 132.64 | | 02416 | 易点云 | 21.95 | 49.89 | 2.280 | 2.250 | 134.20 | | 02652 | 长风药业 | 1.50 | 48.54 | 32.920 | 31.700 | 85.42 | | ...

Core Viewpoint - The Hong Kong stock market, particularly the technology sector, is experiencing a strong recovery, with the Hang Seng Index rising 28% in 2025, marking its best annual performance since 2017. The technology sector remains a key focus for investors as they enter 2026 [1][3]. Group 1: Market Performance - The Hong Kong Technology ETF (513020) surged over 4% on January 5, 2026, during the mainland market closure [1]. - The Hang Seng Index's 28% increase in 2025 reflects a significant turnaround in the market [1]. Group 2: Supporting Factors for Technology Sector - The macroeconomic environment is improving, supported by a tariff truce between China and the U.S. and rising expectations for interest rate cuts by the Federal Reserve in 2026, alleviating external liquidity pressures [3]. - China's GDP grew by 5.2% year-on-year in the first three quarters of 2025, indicating a stabilization in the domestic economy [3]. - The explosive growth of the AI industry, exemplified by the performance of the domestic AI model DeepSeek, has significantly boosted market confidence and led to a revaluation of the entire industry chain [3]. - Semiconductor leader SMIC saw a remarkable 117% increase in its stock price in 2025, highlighting strong investor recognition of "hard technology" [3]. Group 3: ETF Characteristics - The Hong Kong Technology ETF tracks the CSI Hong Kong Stock Connect Technology Index, which includes major internet platforms like Tencent, Meituan, and Xiaomi, as well as heavyweights in the biopharmaceutical sector, providing a balanced exposure to both soft and hard technology [3]. - This structure allows the index to benefit from profit releases driven by internet giants while capturing the explosive growth in AI and other cutting-edge sectors [3]. Group 4: Future Outlook - Despite potential short-term volatility due to profit-taking, the long-term fundamentals of the Hong Kong technology sector remain strong [4]. - The price-to-earnings (PE) ratio of the Hang Seng Technology Index has rebounded from its lows but still offers a significant comparative advantage over U.S. tech stocks [4]. - The trend of capital inflow into Hong Kong stocks is expected to continue, supported by the resonance of "policy bottom" and "market bottom" [4]. - For investors optimistic about China's technological innovation and industrial upgrading, the Hong Kong Technology ETF (513020) is recommended for phased investment or systematic investment plans to capitalize on the ongoing technology bull market [4].