Group 1 - The Hong Kong stock market has performed exceptionally well this year, with a double-digit increase in the main index, outperforming many global equity markets [2] - The new stock market has seen significant activity, with many new listings experiencing hundreds of times oversubscription during the offering phase, and post-listing performance has been strong, exemplified by companies like Mixue Group and CATL [2] - From early 2025 to July 11, the post-listing fundraising scale in the Hong Kong market reached HKD 164.418 billion, surpassing the IPO fundraising scale of HKD 123.564 billion, with the half-year post-listing fundraising nearly doubling last year's total [2] Group 2 - Placement has been the primary method for post-listing fundraising this year, with a total of HKD 156.985 billion raised, accounting for 95.5% of the total [4] - BYD and Xiaomi announced placement plans in March, raising HKD 43.509 billion and HKD 42.600 billion respectively, with proceeds aimed at R&D, overseas business development, and general corporate purposes [4] - Following their placements, both BYD and Xiaomi saw their stock prices continue to reach new highs, indicating market recognition of their growth potential [4] Group 3 - NIO raised HKD 4.03 billion through a placement in March for R&D and strengthening its balance sheet, but its stock price did not recover post-placement, reflecting market skepticism about its financial health and future prospects [8] - Robotics companies have also been active in fundraising, with several raising over HKD 1 billion, including Horizon Robotics and Fourth Paradigm [10] - Biotech companies, particularly those not yet profitable, are also seeking funds, with Innovent Biologics raising HKD 4.310 billion to support global expansion and pipeline development [10] Group 4 - Gold-related stocks have capitalized on rising gold prices to raise funds, with companies like Lao Pu Gold and Zhaojin Mining successfully completing fundraising while their stock prices continued to rise [11] - The Hong Kong stock market has seen significant price increases for companies like Pop Mart and Mixue Group, raising questions about whether these companies will also pursue fundraising opportunities [12] - Investor sentiment towards fundraising activities is influenced by the company's fundamentals, the rationale behind the fundraising, and the overall market environment [12] Group 5 - Companies like Innovent Biologics that raised funds while their stock prices were high were viewed positively by investors, while others that saw stock price declines post-fundraising faced skepticism regarding their pipeline progress and capital efficiency [13] - Gold-related fundraising activities are seen as timely moves to expand capacity in a favorable market environment, creating a positive feedback loop between stock price and fundraising [13] - Investors are encouraged to consider the fundamentals and growth prospects of companies rather than making decisions based solely on short-term stock price fluctuations or fundraising activities [14]

Core Insights - On July 11, 2025, Zhongzhou Securities (01375), Guotai Junan International (01788), and Juxing Legend (06683) were the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 85.75 billion, 83.76 billion, and 51.63 billion respectively [1] - In the Southbound Stock Connect for the Shenzhen-Hong Kong Stock Connect, Guotai Junan International (01788), Zhongzhou Securities (01375), and Alibaba-W (09988) led the trading volume, with amounts of 31.31 billion, 31.15 billion, and 22.84 billion respectively [1] Southbound Stock Connect (Shanghai-Hong Kong) - Top active trading companies included: - Zhongzhou Securities (01375): 85.75 billion, net buy of +2.29 billion - Guotai Junan International (01788): 83.76 billion, net sell of -131.407 million - Juxing Legend (06683): 51.63 billion, net sell of -127.556 million - Alibaba-W (09988): 37.09 billion, net sell of -9.13 billion - Meituan-W (03690): 23.18 billion, net buy of +4.02 billion [2] Southbound Stock Connect (Shenzhen-Hong Kong) - Top active trading companies included: - Guotai Junan International (01788): 31.31 billion, net buy of +1.84 billion - Zhongzhou Securities (01375): 31.15 billion, net sell of -45.3737 million - Alibaba-W (09988): 22.84 billion, net buy of +7.30 billion - Tencent Holdings (00700): 18.63 billion, net sell of -66.2962 million - Juxing Legend (06683): 15.78 billion, net buy of +1.48114 million [2]

金融界2025年7月11日消息，国家知识产权局信息显示，小米汽车科技有限公司、小米科技（武汉）有 限公司、北京小米移动软件有限公司、北京小米松果电子有限公司申请一项名为"声浪控制方法、装 置、系统及车辆"的专利，公开号CN120287975A，申请日期为2025年04月。 专利摘要显示，本公开是关于一种声浪控制方法、装置、系统及车辆，声浪控制方法包括：获取与用户 需求对应的目标音源组件，并根据所述目标音源组件得到音频信号，根据车辆驾驶参数对所述音频信号 进行动态调制，得到目标声浪信号，输出所述目标声浪信号。本公开根据用户需求获取对应的目标音源 组件，实现目标音源组件的自由配置，实现用户按需定制化声浪播放；另外，车辆行驶过程中，基于用 户需求及车辆驾驶参数对自由组合得到的音频信号进行动态调制，使得最终形成的目标声浪信号随车辆 驾驶状态进行动态调节，适应于驾驶过程的多样化场景，增加驾驶乐趣。 天眼查资料显示，小米汽车科技有限公司，成立于2021年，位于北京市，是一家以从事汽车制造业为主 的企业。企业注册资本100000万人民币。通过天眼查大数据分析，小米汽车科技有限公司共对外投资了 1家企业，参与招投标项目10次 ...

| 港股通(沪)活跃成交股 | | --- | | 小米集团-W HK 01810 | 5.72亿 | 6.04亿 | 11.76亿 -3151.82万 | | --- | --- | --- | --- | | 中国平安 | 8.47亿 | 3.23亿 | 11.70亿 | | HK 02318 | | | +5.24亿 | | 香港交易所 | 6.17亿 | 3.62亿 | 9.78亿 | | HK 00388 圖片立語· 知道 叶 久 | | | +2.55 乙 | 港股通(深)活跃成交股 7月11日港股市场，北水成交净买入17.44亿港元，其中港股通(沪)成交净卖出21.97亿港元，港股通(深) 成交净买入39.41亿港元。 北水净买入最多的个股是美团-W(03690)、中国平安(02318)、港交所(00388)。北水净卖出最多的个股是 小米集团-W(01810)、阿里巴巴-W(09988)、腾讯(00700)。 | 股票名称 | 买入额 | 卖出额 | 买卖总额 | | --- | --- | --- | --- | | | | | 净流入 | | 中州证券 HK 01375 | 44.02亿 | ...

Group 1 - Xiaomi's Yu7 has received 200,000 pre-orders in just 3 minutes, but delivery times are extended due to production capacity constraints, with standard versions expected to take over a year for delivery [1] - The long wait times for the Yu7 have created opportunities for competitors like Model Y and Zhijie R7, which are gaining popularity in the 250,000-300,000 yuan electric SUV market [1] - The competition in the SUV market is intensifying, with brands striving to enhance user experience through product innovation and technological advancements [1][2] Group 2 - The Yu7 and Zhijie R7 are larger in size compared to the Model Y, with the Yu7's initial success attributed to its aesthetic appeal and unique features, such as multiple magnetic points for ecosystem integration [2] - Zhijie R7 offers both pure electric and range-extended versions, with a maximum range of 802 km for the pure electric model and rapid charging capabilities [3] - The evolution of Chinese brands in the electric vehicle sector is reshaping the industry landscape, with companies like Xiaomi and Zhijie making significant strides against previously dominant players like Tesla [3]

7月11日，小米官网管理团队页面显示，原小米集团副总裁、中国区总裁 王晓雁已升任高级副 总裁，位列排名第六 。 前五分别是创始人、董事长兼CEO雷军，联合创始人、副董事长林斌，合伙人、总裁卢伟冰， 联合创始人、高级副总裁刘德以及高级副总裁曾学忠。 履历信息显示，王晓雁生于1974年，1994年取得北京师范大学物理系学士学位，后在1999年 获得中国人民大学工商管理硕士学位。 其职业生涯早期，主要在中兴通讯（ZTE）任职（1999年-2005年）。2006年至2010年期间， 于北京天宇朗通通信设备有限公司担任销售高管。离开天宇朗通后，王晓雁于2010年至2019 年创立小辣椒手机品牌。 财报显示，王晓雁于2019年加入小米，先后担任中国区电商部、销售运营部、新零售部和运营 商部负责人，2022年他晋升为副总裁，兼任中国区总裁。小米集团对其评价是，为中国区新零 售业务的构建起到决定性作用。 多家媒体报道称，王晓雁的晋升或与今年小米手机业务的亮眼表现有关。 不过，就此榜单而言，前五名的品牌，实际激活量差距并不大，第一名的小米与第五名的苹果 实际激活量仅相差37.97万台，这说明其他手机厂商对小米手机在第二季度的激 ...

Group 1 - The extreme heat wave across various regions in China has led to a surge in demand for cooling appliances such as air conditioners and refrigerators, driving a "cooling economy" that boosts consumer spending [1][2] - Xiaomi reported a dramatic increase in air conditioner sales, with peak sales reaching 20 times that of the same period last year in Northeast and Inner Mongolia, highlighting the significant impact of high temperatures on the cooling appliance market [2] - The sales of alternative cooling products like evaporative coolers and electric fans have also surged, with cooler sales increasing by 3.5 times and fan sales by 54% [3] Group 2 - The demand for sun protection products and beauty care items has also seen explosive growth, with sunglasses sales doubling and women's purchases of sun protection products outpacing men's by more than four times [3] - The "Zhenpin Hui" and "Factory Store" retail models of Fenqile Mall have effectively catered to the diverse consumption needs of young consumers, providing a "light consumption" shopping experience through interest-free installments and discount coupons [3] - Fenqile Mall aims to continuously innovate consumption scenarios and deepen collaborations with brands and platforms to stimulate consumer spending and enhance the multi-category shopping experience for young consumers [3]

Group 1 - Xiaomi Technology Co., Ltd. has applied for the registration of the trademark "Xiaomi Glasses" [1] - The international classification for the trademark is scientific instruments [1] - The current status of the trademark application is pending substantive examination [1]

智通财经APP获悉，据Counterpoint Research对中国智能手机市场的季度观察报告，2025年上半年，中国智能手机市场出货量预计同比增长1.4%，在全球 市场整体不确定性加剧的背景下，成为稳定器。国家补贴刺激了早期需求，但市场面临落地难题。近期补贴发放节奏放缓，但预计该项目将持续至2025年 全年，甚至可能延续至2026年。苹果凭借iPhone Pro降价及纳入补贴名单，在618期间表现最佳。小米发布自研应用处理器AP—Xring O1，强化其高端市场 布局。AI依然是核心主题，但厂商更强调实用性场景落地。 国家智能手机补贴计划落地受阻，但预计将持续至2025年下半年 中国中央政府推出了约人民币3000亿元（约414亿美元）的补贴计划，旨在刺激消费电子产品购买，包括价格在6000元（约828美元）以下的智能手机。 第一轮资金大幅推动了Q1销量增长，但也暴露出实施中的一系列难题。 补贴流程复杂，使得中小厂商望而却步，而资源充足的大型零售渠道则更易执行，因此华为与小米在该政策中受益最多。 尽管执行端面临挑战，且近期补贴发放节奏放缓，但预计该项目将持续至2025年全年，甚至可能延续至2026年（基于供 ...

国家智能手机补贴计划落地受阻，但预计将持续至2025年下半年 中国中央政府推出了约人民币3000亿元（约414亿美元）的补贴计划，旨在刺激消费电子产品购买，包括价格在6000元（约828美元）以下的智能手机。 第一轮资金大幅推动了Q1销量增长，但也暴露出实施中的一系列难题。 补贴流程复杂，使得中小厂商望而却步，而资源充足的大型零售渠道则更易执行，因此华为与小米在该政策中受益最多。 尽管执行端面临挑战，且近期补贴发放节奏放缓，但预计该项目将持续至2025年全年，甚至可能延续至2026年（基于供应链渠道调研）。不过，随着中 国智能手机市场的成熟，此类大规模激励政策的边际效应正在逐渐减弱。 苹果凭借大幅降价主导618大促 以下文章来源于Counterpoint 咨询 ，作者Archie Zhang Counterpoint 咨询 . Counterpoint Research 是一家专注于科技行业的全球性研究公司，在全球主要的市场有着强大的影响力。我们致力于为合作伙伴提供准确、及时的市场数 据，帮助他们做出明智的决策。 2025年上半年，中国智能手机市场出货量预计同比增长1.4%，在全球市场整体不确定性加剧的背景下 ...