格隆汇2月13日丨小米集团-W(01810.HK)公告，2月13日耗资9836.4万港元回购270万股。 ...

Core Viewpoint - Xiaomi Auto has achieved significant delivery milestones, surpassing 600,000 units since April 3, 2024 [1] Group 1 - Xiaomi Auto's cumulative deliveries have exceeded 600,000 units [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 小米集团 (於開曼群島註冊成立以不同投票權控制的有限公司) 呈交日期： 2026年2月13日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 不同投票權架構公司普通股 | 股份類別 | B | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 01810 | 說明 | | | | | | | | 多櫃檯證券代號 | 81810 | RMB 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | ...

智通财经APP获悉，2月13日港股市场，北水成交净买入202.19亿港元，其中港股通(沪)成交净买入114.77亿港元，港股通 (深)成交净买入87.43亿港元。 北水净买入最多的个股是盈富基金(02800)、阿里巴巴-W(09988)、腾讯(00700)。北水净卖出最多的个股是长飞光纤光缆 (06869)、中海油(00883)。 | 盈富基金 | 11.80亿 | 188.87万 | 11.82亿 | | --- | --- | --- | --- | | HK 02800 | | | +11.78亿 | | 南方恒生 ... | 11.51亿 | 2782.07万 | 11.79 亿 | | HK 03033 | | | +11.24 乙 | | 小米集团-W | 8.00亿 | 2.98亿 | 10.98 亿 | | HK 01810 | | | +5.02 乙 | | 长飞光纤 ... | 4.90亿 | 4.56亿 | 9.461乙 | | HK 06869 | | | +3338.34万 | | :: 洪烟田中 | 3.76亿 | 5.19 乙 | 8.95亿 | | HK 00883 | | | ...

Group 1 - SK Group's Chairman Choi Tae-won is meeting with major tech CEOs in Silicon Valley, including Nvidia, Google, Microsoft, Broadcom, and Meta, to establish partnerships in AI semiconductor and data center ecosystems [1] - The meetings aim to integrate SK Group's AI solutions and expand its AI ecosystem, positioning the company as a leader in the artificial intelligence business [1] Group 2 - MOVA TPEAK announced a significant order for its Clip Pro open-ear headphones, valued at over 100 million yuan, leveraging an AI architecture for enhanced interaction speed [3] - The AI assistant's response time is improved by ten times, providing an "instant question and answer" experience [3] Group 3 - Yuanqi Forest has maintained double-digit growth for three consecutive years, with projections for continued profitability and improved growth quality by 2025 [4] - Vitamin water is the fastest-growing product, expected to increase by 128% year-on-year in 2025, followed by iced tea at 56% [4] Group 4 - The robot rental platform Qingtian has received over 5,000 orders during the Spring Festival period, with a projected GMV growth of approximately 80% [5] - Qingtian is launching a national city partner recruitment strategy to expand its operations [5] Group 5 - Xiaomi has surpassed 600,000 cumulative vehicle deliveries since April 3, 2024, indicating strong market performance [6] Group 6 - Stark Defence, a German drone manufacturing startup, has raised new funding, increasing its valuation to over 1 billion euros (approximately 1.2 billion USD) [9] - The funding round included significant investments from Peter Thiel's Founders Fund and other European investors [9] Group 7 - Lanrui Optoelectronics has completed a multi-hundred million yuan Series C financing round, aimed at expanding production capacity and upgrading its R&D center [10]

Core Viewpoint - The surge in storage chip prices is forcing major global electronics companies to face three challenging options: raise product prices, absorb costs, or adjust product configurations [1][2]. Group 1: Impact on Electronics Manufacturers - The AI boom is significantly impacting the supply chain, as AI requires extensive data center support, leading to a shortage of storage chips for manufacturers of smartphones, PCs, and gaming consoles [1][2]. - Dell Technologies has raised prices of some commercial laptops by up to 30%, while Acer has reduced the multitasking storage space in its budget PCs [1][3]. - Xiaomi has halted production of low-memory versions of new mid-range devices and increased prices, while LG Electronics has a dim outlook for TV sales this year due to rising storage chip prices [1][2]. Group 2: Market Trends and Predictions - The shortage of storage chips is expected to worsen for the smartphone, PC, and gaming console industries, with anticipated declines in shipment volumes [2][4]. - According to TrendForce, contract prices for DRAM and NAND flash have increased to approximately seven times their previous levels over the past 12 months [2][3]. - Analysts predict that supply will remain tight until the end of 2028, with little chance of price drops in the short term due to ongoing AI infrastructure investments [2][3]. Group 3: Financial Implications for Companies - The rising cost of storage chips, which accounts for 30% of total costs in PCs, is expected to suppress demand in the personal computer and smartphone sectors, although price increases may offset this decline [3][4]. - Apple CEO Tim Cook noted that while the impact of rising storage chip prices was minimal in the last fiscal quarter, a more significant effect is expected in the current quarter [3][4]. - Qualcomm's CEO expressed a desire for more storage chips, indicating that the supply constraints are affecting even companies not directly involved in consumer electronics [4].

Core Viewpoint - The discontinuation of the first-generation Xiaomi SU7 marks a significant transition for Xiaomi from a "newcomer" in the automotive industry to a serious player, reflecting a strategic decision by Lei Jun to pivot towards future developments in electric vehicles [2][12]. Group 1: Discontinuation of the First-Generation SU7 - The first-generation SU7 has exceeded its mission, achieving impressive sales of 381,000 units within less than two years since its launch in April 2024 [8][11]. - The decision to stop production is strategic, as the initial model's features have become outdated in the rapidly evolving electric vehicle market, allowing Xiaomi to make way for the next generation [10][12]. - The SU7 has successfully established Xiaomi's credibility in the automotive sector, proving that the company can manufacture and sell vehicles effectively [12]. Group 2: New Generation SU7 and Future Ambitions - The new generation SU7 is positioned as a key player in Xiaomi's broader strategy, with Lei Jun emphasizing improvements based on user feedback, such as the design of door handles to meet new national standards [18][20]. - Xiaomi plans to diversify its product line beyond a single model, introducing various types of vehicles including SUVs and performance cars to mitigate risks [23]. - The new SU7 will feature advanced safety technologies, including standard laser radar and high-strength steel, with a maximum range of 902 kilometers, showcasing Xiaomi's commitment to safety and performance [23]. Group 3: Challenges and Public Perception - Despite high sales, Xiaomi faces significant public criticism, particularly following safety incidents involving the SU7, which have raised questions about the company's commitment to safety [30][35]. - The backlash stems from a combination of jealousy and self-inflicted issues, as Xiaomi's marketing strategies have sometimes backfired, leading to negative public perception [33][40]. - The company must address core concerns regarding safety and transparency, as failure to do so could hinder its aspirations to become a major player in the automotive industry [42][44].

同日，雷军表示，自2024年4月3日以来，小米汽车累计交付量已超过60万台。他同时表示，新一代小米 SU7的展车已经到店。 此前，2月12日，雷军在其个人微博援引汽车之家数据称，小米YU7今年1月份销量为37869台。这一数 字环比去年12月的销量有所下滑，但仍跃升两位，登顶全国乘用车零售销量排行榜。 汽车之家的数据显示，在1月的全国乘用车零售销量排行榜中，小米YU7以显著优势位居榜首。排在第 二位的吉利博越L销量为34176台；第三则是吉利星愿，销量29007辆。值得注意的是，特斯拉Model Y 在1月销量仅为16845台，排名第20位。 记者丨王泽坤 编辑丨叶映橙 2月13日，小米集团创始人、董事长兼CEO雷军宣布：第一代SU7停产，仍然跟以往一样提供全部维修 及保养服务。小米已为第一代SU7准备了充足了配件和供应商生产能力，至少能够满足10年以上的备件 保障能力。春节期间，小米汽车服务不打烊，大家可以到小米汽车服务门店对车辆进行维修和保养。 1月全国乘用车市场零售154.4万辆，同比下降13.9%。其中自主品牌零售89万辆，同比下降18%；主流 合资品牌零售47万辆，同比下降4%；豪华车零售18万辆， ...

记者丨王泽坤 此前，2月12日，雷军在其个人微博援引汽车之家数据称，小米YU7今年1月份销量为37869 台。这一数字环比去年12月的销量有所下滑，但仍跃升两位，登顶全国乘用车零售销量排行 榜。 汽车之家的数据显示，在1月的全国乘用车零售销量排行榜中，小米YU7以显著优势位居榜 首。排在第二位的吉利博越L销量为34176台；第三则是吉利星愿，销量29007辆。值得注意的 是，特斯拉Model Y在1月销量仅为16845台，排名第20位。 编辑丨叶映橙 2月13日，小米集团创始人、董事长兼CEO雷军宣布：第一代SU7停产，仍然跟以往一样提供 全部维修及保养服务。小米已为第一代SU7准备了充足了配件和供应商生产能力，至少能够满 足10年以上的备件保障能力。春节期间，小米汽车服务不打烊，大家可以到小米汽车服务门店 对车辆进行维修和保养。 同日，雷军表示，自2024年4月3日以来，小米汽车累计交付量已超过60万台。他同时表示， 新一代小米SU7的展车已经到店。 如果以批发销量为统计口径，根据乘联分会2月12日公布的《2026年1月份全国乘用车市场分 析》显示，1月乘用车批发销量超2万辆的车型有17个（上月27个），比 ...

Investment Rating - The report maintains an "Outperform" rating for the industry, indicating a positive outlook compared to the broader market [3]. Core Insights - The AI application landscape is rapidly evolving, with significant advancements expected in 2026, which will impact traditional sectors such as software, film, and media [6]. - Domestic AI models are increasingly competitive with international counterparts, particularly in terms of performance and cost, suggesting a potential shift in the global AI model competition [6]. - The demand for AI inference is rising sharply, leading to increased pricing actions from model and cloud service providers, which benefits companies within the industry [6]. Industry Data Summary 1. Industry Data - The software industry in 2025 is projected to generate revenues of 15.48 trillion yuan, reflecting a year-on-year growth of 13.2% [12]. - The IC design sector is expected to grow by 18.9% in 2025, while cloud computing and big data services are anticipated to grow by 13.6% [19]. - The information technology service revenue is expected to increase by 14.7%, further solidifying its share of the overall software business revenue to 68.7% [27]. 2. AI Developments - Major AI models are being released, with significant competition expected in the market, particularly with the upcoming launches of models like DeepSeek-V4 and others in February 2026 [33]. - The pricing of domestic models is significantly lower than that of international models, enhancing their attractiveness for various applications [39]. - The user engagement for AI applications is increasing, with notable growth in active users for platforms like Gemini and ChatGPT [44]. 3. Domestic Market Dynamics - Domestic chip manufacturers are expected to benefit from restrictions on foreign competitors, with companies like Huawei and Dawning making significant advancements in AI computing capabilities [6]. - The report highlights the increasing capital expenditures from overseas tech firms, raising concerns about market dynamics [6]. - The MaaS (Model as a Service) market is projected to grow rapidly, with significant contributions from companies like ByteDance and Alibaba [56].