Core Viewpoint - The 2025 IPO market shows significant recovery compared to the low point in 2024, with a total of 297 IPOs across A-shares, Hong Kong, and the US markets, marking a notable increase in activity [2][51]. Group 1: IPO Market Overview - The Hong Kong market emerged as the largest IPO market globally in 2025, with 117 companies listed, a nearly 70% increase from 69 in 2024 [2][52]. - A-shares also saw a recovery, with 113 companies listed, up 13% from 100 in 2024, raising a total of 131.77 billion yuan, a 95.6% increase from 673.53 billion yuan in 2024 [52]. - The US market for Chinese companies remained subdued, with only 67 companies listed, raising approximately 8.03 billion yuan, significantly lower than the 18.56 billion yuan in 2024 [53]. Group 2: Investment Institutions - The "TOP100" list for 2025 includes 17 institutions that made the list for the first time in six years, while 18 institutions have maintained their presence for six consecutive years [51]. - The average number of IPO projects per institution in the TOP100 was 4.85, up from 3.19 in 2024, indicating a recovery in market activity [51]. - The threshold for inclusion in the TOP100 was set at 2 IPO projects, compared to 1 in 2024 [51]. Group 3: Fundraising and Project Distribution - The total fundraising amount in the Hong Kong market reached 261.53 billion yuan, a 218.6% increase from 82.1 billion yuan in 2024 [52]. - The average fundraising size for IPOs in Hong Kong was 2.255 billion yuan, significantly higher than 1.19 billion yuan in 2024 [56]. - The top fundraising projects included Ningde Times, which raised 37.701 billion yuan, followed by Zijin Mining and Sany Heavy Industry [57]. Group 4: City and Industry Distribution - In 2025, 89 cities in mainland China and Hong Kong hosted IPO projects, with Shanghai leading at 27 projects, followed by Beijing with 21 and Shenzhen with 16 [58]. - The most active industries for IPOs were biomedicine (26 projects), hardware equipment (25 projects), and software services (22 projects), reflecting the focus on AI technology [61]. - The total fundraising in the electrical equipment sector reached 53.03 billion yuan, driven by leading companies like Ningde Times [61].

雷军在直播中致歉推迟直播："先说个抱歉，这是一场迟到的直播，原定的跨年直播，因为我 感冒了，最后推迟到今天晚上，虽然是推迟了，但不小心就成了2026年的第一场大型直播，所 以也挺有意义的。" 雷军称拆车是为回应网络传言 1月3日晚上，小米创办人、董事长兼CEO雷军进行2026年的第一场直播，现场直播工程师拆 一台新的小米YU7。 此次直播，雷军回应了多个大众关心的热点问题。 直播中，雷军表示，这次拆车是为了回应一些过去这段时间网上对小米汽车的各种问题，过去 小米回应得很少，是因为觉得好产品自己会讲话，清者自清，不要不停地自证。但是前段时间 看到不少的米粉朋友们建议还是要主动及时地回应，过去一年里面要回应的问题特别多，打算 分期分批来回应，今天首先回应YU7产品相关的。 图/雷军直播视频截图 图/雷军直播视频截图 雷军称，小米YU7发布后一直比较火，我们用料扎实，还是比较自信的。这次拆车可以进一步 了解小米汽车。 雷军还提到，有一个拆车博主说他为什么拆小米的车呢？小米的车特别火，你说它好会火，说 它不好也会火。但总体说来，说他不好更高一些。所以他刚开始也是抱着挑毛病的心态来拆 的，拆完以后发现确实还可以。他讲了 ...

2025年12月30日，小米创办人、董事长兼CEO雷军宣布，好久没有和大家聊聊了，12月31日晚8点，我 将做一场跨年直播。今年就要结束了，这一年你有哪些难忘的瞬间？我们一起直播聊聊难忘的2025，再 展望2026。 前几天我在网上看过一个拆SU7视频，很多人建议拆拆YU7。这次直播，我请工程师现场拆车，一边拆 车一边聊，我们一起来场硬核跨年！ 12月31日雷军发文称："实在抱歉，我感冒有点严重，原定跨年的直播只能推迟到1月3日晚7点。" 雷军还在直播中透露，小米汽车去年交付了41万辆车。 拆车环节结束后，小米集团公关部总经理徐洁云入场亮相，对近期小米热点话题进行回应。其中，徐洁 云主动提及近期"小米不让农民卖小米"一事。 徐洁云表示，此事完全是被误导扭曲之后造成的误解。"小米公司与作为粮食的小米，这完全是客观的 两回事，其实大家想想也知道这不可能，我们绝没有这样的动机，当然更不可能有这样的本事去说不让 农民卖小米了。" 雷军表示，相信大家的眼睛是雪亮的，哪些是调侃，哪些是恶意的抹黑攻击。"特别说明一下，我就在 农村长大的，我怎么可能不让农民卖小米？出现这样的热搜时，真的让我很愤怒。"雷军说。 1月3日晚上， ...

直播中，就"小字营销"争议，雷军回应称，小字标注确实是行业中长期存在的问题，相关批评是合理 的，小米接受意见并将作出调整。他表示，今后产品注释将统一使用更清晰的字体展示。 "但如果将此定性为恶意营销，这是很大的误解。"雷军称，小米将认真听取用户意见，持续改进，也欢 迎外界继续提出问题。 1月3日晚，小米董事长兼首席执行官雷军进行2026年首场直播，邀请工程师现场拆解小米YU7，同时还 在直播中回应了部分网络热门话题。 （齐鲁晚报·齐鲁壹点客户端编辑 武秀英 综合雷军直播间、南昌晚报） ...

来源：新浪网 新浪科技讯 1月3日晚间消息，小米集团创始人、董事长、CEO雷军今日举行2026年第一场直播，谈及 小米此前在海报宣传当中存在的"小字"话题，雷军表示，小字确实是行业陋习，我觉得在这一点上，小 米从现在做起，立刻马上就改。我觉得这个毛病确实要改。但是如果把用来合规的一些做法，贴成虚假 营销或者过度营销的话，这是对小米天大的误解。 "我在各种场合一直讲，我觉得小米只有15年的创业历程，还有非常多不完美的地方。我们会认真细心 的听取大家的意见。我们一定会认真听，认真改。所以在此特别感谢大家的支持，也感谢大家的监督， 欢迎大家继续提问题，我们继续改进。"雷军表示。（罗宁） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com ...

"我在各种场合一直讲，我觉得小米只有15年的创业历程，还有非常多不完美的地方。我们会认真细心 的听取大家的意见。我们一定会认真听，认真改。所以在此特别感谢大家的支持，也感谢大家的监督， 欢迎大家继续提问题，我们继续改进。"雷军表示。（罗宁） 来源：新浪网 新浪科技讯 1月3日晚间消息，小米集团创始人、董事长、CEO雷军今日举行2026年第一场直播，谈及 小米此前在海报宣传当中存在的"小字"话题，雷军表示，小字确实是行业陋习，我觉得在这一点上，小 米从现在做起，立刻马上就改。我觉得这个毛病确实要改。但是如果把用来合规的一些做法，贴成虚假 营销或者过度营销的话，这是对小米天大的误解。 ...

1月3日晚上，小米创办人、董事长兼CEO雷军进行2026年的第一场直播，现场直播工程师拆一台新的小 米YU7。 雷军在直播中致歉推迟直播："先说个抱歉，这是一场迟到的直播，原定的跨年直播，因为我感冒了， 最后推迟到今天晚上，虽然是推迟了，但不小心就成了2026年的第一场大型直播，所以也挺有意义 的。" 此次直播，雷军回应了多个大众关心的热点问题。 雷军称拆车是为回应网络传言 直播中，雷军表示，这次拆车是为了回应一些过去这段时间网上对小米汽车的各种问题，过去小米回应 得很少，是因为觉得好产品自己会讲话，清者自清，不要不停地自证。但是前段时间看到不少的米粉朋 友们建议还是要主动及时地回应，过去一年里面要回应的问题特别多，打算分期分批来回应，今天首先 回应YU7产品相关的。 雷军称，小米YU7发布后一直比较火，我们用料扎实，还是比较自信的。这次拆车可以进一步了解小米 汽车。 雷军还提到，有一个拆车博主说他为什么拆小米的车呢？小米的车特别火，你说它好会火，说它不好也 会火。但总体说来，说他不好更高一些。所以他刚开始也是抱着挑毛病的心态来猜的，猜完以后发现确 实还可以。他讲了一句话挺打动我的，他说，人不可能违背良心去说 ...

Group 1 - In 2025, the Beijing Stock Exchange (BSE) saw a total of 26 companies listed, with a significant portion being specialized "little giant" enterprises in key sectors such as high-end manufacturing and biomedicine [1] - As of December 31, 2025, the total number of listed companies on the BSE reached 288, with a total market capitalization of 869.4 billion yuan [1] - The top five regions for listed companies were Jiangsu, Zhejiang, Guangdong, Beijing, and Shandong, with Jiangsu leading at 56 companies [1] Group 2 - During the "14th Five-Year Plan" period, China's low-altitude equipment industry is expected to maintain an annual growth rate of over 10%, with over 1,000 companies registered and more than 5.29 million products [2] - The industry has seen a diversification in products, with over 70 domestic aircraft completing airworthiness certification and 18 civilian drones receiving approval [2] Group 3 - Xiaomi responded to negative publicity regarding its live streaming platform, stating that the closure of comments was to prevent spam attacks and ensure a better user experience [3] - The company emphasized its commitment to listening to genuine user feedback while managing disruptive comments [3] Group 4 - Chery Automobile denied rumors of a strategic partnership with another company, confirming that no cooperation agreement was signed [4] - The management of Hongsheng Group has changed, with Zong Fuli taking over as the legal representative and manager [4] Group 5 - Shenzhen Xihua Technology has submitted an application for an IPO on the Hong Kong Stock Exchange, focusing on AI chip solutions, despite reporting net losses in recent years [5] - The Shenzhen Stock Exchange terminated the IPO review for Xinmingzhu Group after the company withdrew its application [5] Group 6 - The second trial of the Weiming Pharmaceutical equity case resulted in reduced sentences for the defendants, with significant changes to the charges compared to the first trial [6] - Black Sesame Intelligence announced a strategic acquisition of Yizhi Electronics, aiming for significant revenue and profit targets over the next three years [6] Group 7 - Luxshare Precision issued a clarification regarding recent rumors, stating that there are no abnormal situations affecting its normal operations and business development [7]

Core Viewpoint - Lei Jun and Xiaomi are currently facing significant public scrutiny, with various criticisms circulating online, prompting Lei Jun to address these issues directly in a recent live stream [1][3]. Group 1: Public Criticism and Response - Lei Jun acknowledged the prevalence of negative online content about Xiaomi, emphasizing that while criticism can generate attention, it should be fair and not malicious [3][5]. - The company has seen a reduction in professional smear campaigns against it, indicating a proactive approach to managing its online reputation [5]. - Xiaomi is committed to listening to constructive criticism from genuine users and has already made changes in response to feedback, such as addressing "small print marketing" issues [5][7]. Group 2: Specific Controversies Addressed - The term "200 kilometers instant braking" was clarified by Lei Jun as a personal observation rather than a definitive claim, suggesting that some criticisms are overly pedantic [9]. - The controversy surrounding "Xiaomi not allowing farmers to sell millet" was addressed by Lei Jun, who expressed his anger at the misunderstanding, asserting that Xiaomi supports agricultural initiatives [11]. - The claim of "7000 legal affairs" was dismissed by Lei Jun, who stated that the company does not have such a large legal team, but acknowledged the need to strengthen its legal department to combat misinformation [13].

Core Viewpoint - Xiaomi's CEO Lei Jun addressed various criticisms and controversies surrounding the company during a recent live stream, emphasizing the importance of fair and objective feedback while expressing frustration over misinformation and malicious attacks against the brand [2][3][4]. Group 1: Response to Criticisms - Lei Jun highlighted that some critics exaggerate issues for attention, particularly regarding a teardown of Xiaomi's car, which was initially approached with a negative bias but ended up being more favorable [2]. - The company’s public relations manager stated that many negative videos about Xiaomi's vehicles are deliberately edited and misrepresented, leading to unwarranted personal attacks on car owners [3]. - Lei Jun expressed anger over claims that Xiaomi prevents farmers from selling millet, asserting that such accusations are unfounded and part of a smear campaign [4]. Group 2: Commitment to Improvement - Lei Jun acknowledged the issue of small print in advertising as an industry-wide problem and committed to immediate changes to rectify this practice [4]. - He refuted claims that Xiaomi employs 7,000 legal staff, emphasizing the need for a more focused legal team to combat misinformation [4]. - The company’s vice president discussed the strength of their "super steel" used in vehicles, inviting scrutiny and validation of their claims [5]. Group 3: Product Features and Performance - The design feature of "losing wheels" in the Xiaomi YU7 is explained as a safety strategy, intended to protect the vehicle and its occupants during collisions [6]. - The YU7's winter testing results were highlighted, showing superior performance in various metrics compared to competitors, including Tesla, with the lowest overall energy consumption [7]. - Regarding repair costs, the company clarified that the costs associated with replacing certain parts are not as high as perceived, emphasizing the vehicle's design for maintainability [8]. Group 4: Future Goals - Xiaomi aims to deliver 41,000 vehicles in 2025 and has set a target of 55,000 for 2026, indicating a focus on growth and improvement in the automotive sector [8].