南向资金今日净卖出8.26亿港元，中国移动、紫金矿业、盈富基金分别遭净卖出11.77亿港元、10.77亿 港元、10.36亿港元。净买入方面，腾讯控股、小米集团-W、泡泡玛特净买入额位列前三，分别获净买 入10.15亿港元、8.22亿港元、6.13亿港元。 (本文来自第一财经) ...

Core Viewpoint - Xiaomi Group is expanding its manufacturing capabilities with the establishment of a new smart appliance factory, which is the second large-scale smart manufacturing base following its smartphone and automotive factories [1] Group 1: Factory Details - The new factory is driven by user demand for innovation and is empowered by artificial intelligence [1] - Specific production features include a production line that can produce an air conditioner every 6.5 seconds and 100% AI quality inspection for key components and complete units [1] - The factory utilizes a magnetic levitation mainboard assembly line, showcasing advanced manufacturing technology [1] Group 2: Future Outlook - Xiaomi's smart home appliances are expected to be distributed globally from this new manufacturing base [1]

Group 1 - Southbound funds recorded a net sell of HKD 826 million in Hong Kong stocks for the second consecutive day [1] - Notable net purchases included Tencent Holdings at HKD 1.015 billion, Xiaomi Group at HKD 822 million, and Pop Mart at HKD 613 million [1] - Significant net sales were observed in China Mobile at HKD 1.177 billion, Zijin Mining at HKD 1.077 billion, and Alibaba at HKD 235 million [1] Group 2 - Southbound funds have consistently net bought Xiaomi for 7 days, totaling HKD 3.89621 billion [1] - Continuous net buying for China National Offshore Oil Corporation (CNOOC) for 4 days, amounting to HKD 1.09627 billion [1] - Pop Mart has seen net buying for 3 consecutive days, totaling HKD 1.73397 billion [1] - China Mobile has faced net selling for 16 days, accumulating to HKD 12.89303 billion [1]

Group 1: Hang Seng Index (HSI) - The Hang Seng Index (HSI) showed a slight upward movement on January 23, closing with an increase of approximately 100 points, indicating a neutral short-term trend with mixed market sentiment [1] - Current technical signals for HSI are neutral, with the index fluctuating around 26,700 points and a resistance level at approximately 27,100 points, while support levels are at 26,200 points and 25,800 points [1] - Investors are divided, with bullish investors holding call warrants with recovery prices of 25,788 and 26,428, while bearish investors are planning to buy put warrants with a recovery price of 26,900 [1] Group 2: Meituan-W (03690.HK) - Meituan-W's stock price has been weak, with a slight increase on January 23, closing at 97.5 HKD, while trading volume increased compared to the previous day [7] - Current technical signals show a predominance of buy signals, totaling 10, with resistance levels at 101.8 HKD and 105 HKD [7] - Investors are advised to avoid out-of-the-money products and consider near-the-money call warrants with exercise prices around 99-100 HKD, expiring in April 2025 [7] Group 3: Trip.com Group (09961.HK) - Trip.com Group's stock price has gradually recovered from a low of 446 HKD, closing at 485.4 HKD on January 23, although trading volume has decreased during this upward movement [13] - The current technical signals indicate a majority of buy signals, with 9 buy signals and 5 sell signals [13] - Investors are recommended to choose bull warrants with recovery prices between 382 and 457 HKD to mitigate risks [13] Group 4: Ganfeng Lithium (01772.HK) - Ganfeng Lithium's stock price reached 70 HKD on January 23, breaking through the upper band of the Bollinger Bands, with increased trading volume [19] - The technical signals currently show a predominance of sell signals, with 10 sell signals and 4 buy signals, suggesting caution for bullish investors [19] - Investors interested in put warrants are advised to wait for more suitable products to be issued due to limited options currently available [19] Group 5: Zhaojin Mining (01818.HK) - Zhaojin Mining's stock price slightly increased to 38.6 HKD on January 23, influenced by rising gold prices, but the market sentiment remains cautious [25] - Current support is around 35.5 HKD, with a resistance level at 41.4 HKD, which needs to be broken for further upward movement [25] - Investors should wait for confirmation of a breakout above the resistance level before making further investment decisions [25] Group 6: Xiaomi Group-W (01810.HK) - Xiaomi Group-W's stock price has been on a downward trend, with a slight increase to 36.2 HKD on January 23, accompanied by increased trading volume [30] - Current technical signals show a slight majority of buy signals, but the stock lacks momentum to surpass 50 HKD in the short term [30] - Investors are advised to avoid out-of-the-money products and consider near-the-money call warrants with leverage around 3 times, which are more suitable for current market conditions [30]

Core Viewpoint - Goldman Sachs maintains a "Buy" rating on Xiaomi Group-W (01810) with a target price of HKD 47.5, indicating that despite potential short-term stock price resistance, the risk-reward profile remains attractive over a 12-month investment horizon [1] Group 1: Stock Rating and Price Target - Goldman Sachs updates the optimistic valuation range for Xiaomi, suggesting a potential price of HKD 55, which corresponds to an upside potential of approximately 56% [1] Group 2: Smartphone Pricing and Strategy - The firm forecasts that the average selling price of Xiaomi smartphones will increase by 6% and 4% year-on-year in 2026 and 2027, respectively [1] - In the context of rising memory costs, enhancing the average selling price of smartphones has become a primary operational focus for Xiaomi in 2026 [1] Group 3: Electric Vehicle Business Outlook - Goldman Sachs predicts that Xiaomi's electric vehicle deliveries will reach approximately 670,000 units in 2026, exceeding the company's previous guidance of 550,000 units, driven by the revamped SU7 model, enhanced marketing for the YU7, and the upcoming third SUV model [1] - Despite a moderate overall industry backdrop, Xiaomi's strategy to improve average selling prices through higher-end models is expected to support an improvement in profit structure [1]

Core Viewpoint - Goldman Sachs maintains a "Buy" rating on Xiaomi Group-W (01810) with a target price of HKD 47.5, indicating attractive risk-reward potential over a 12-month investment horizon despite short-term stock price resistance [1] Group 1: Financial Projections - Goldman Sachs updates the optimistic valuation range for Xiaomi, suggesting a potential price of HKD 55, which corresponds to approximately a 56% upside potential [1] - The average selling price of Xiaomi smartphones is projected to increase by 6% in 2026 and 4% in 2027 [1] Group 2: Operational Focus - In the context of rising memory costs, increasing the average selling price of smartphones has become a primary operational focus for Xiaomi in 2026 [1] Group 3: Electric Vehicle Business - Goldman Sachs forecasts that Xiaomi's electric vehicle deliveries will reach approximately 670,000 units in 2026, exceeding the company's original guidance of 550,000 units [1] - The increase in delivery volume is expected to be driven by the revamped SU7 model, enhanced marketing for the YU7, and the upcoming launch of a third SUV model [1]

Group 1 - Tencent reported that over 90 individuals were dismissed for violating the company's "high-pressure line" policy, with more than 20 referred to law enforcement for criminal activities [1] - The report highlighted over 70 cases of serious violations including commercial bribery and embezzlement, leading to dismissals and legal actions against involved employees and external parties [1] - Tencent emphasized the importance of compliance with laws and regulations, particularly in light of the upcoming ESG disclosure requirements in 2026 [1] Group 2 - The ESG reporting season for A-share listed companies is approaching, with 471 companies required to disclose their 2025 ESG reports by April 30, 2026 [2] - A survey has been initiated to gather insights from multinational corporations, leading enterprises, listed companies, and financial institutions regarding their practices and challenges in ESG information disclosure [2] - The survey will last for three months starting from January 22, 2026, and aims to identify exemplary cases for inclusion in a research report [2] Group 3 - The third International Clean Energy Day is set for January 26, 2026, focusing on promoting clean energy transition in a fair and inclusive manner [4] - This global event aims to showcase innovations and developments in clean energy to accelerate the achievement of sustainable development goals [4] Group 4 - New regulations for the recycling and comprehensive utilization of used power batteries from electric vehicles will take effect on April 1, 2026, emphasizing a full lifecycle management approach [5][6] - The regulations include establishing a national information platform for battery traceability and implementing strict penalties for non-compliance [6] Group 5 - Xiaomi faced two fire incidents involving its vehicles on January 19, 2026, which raised significant public concern, although no injuries were reported [7] - The company stated that the battery status was normal prior to the incidents, and the fires were extinguished promptly by fire services [7] Group 6 - ST Dongshi's actual controller, Xu Xiong, was sentenced to six years and six months in prison for manipulating the securities market, with a fine of 170 million yuan imposed [7] - The ruling was confirmed by the Shanghai High People's Court, marking the case as a significant legal outcome in the securities sector [7] Group 7 - Zhejiang Securities faced regulatory scrutiny for inadequate compliance checks on investor transactions, resulting in a warning letter from the Zhejiang Securities Regulatory Bureau [7] - The firm was found to have issues with account management and compliance, leading to administrative measures against its management [7]

也正因为如此，所以在小米汽车发布后，友商们纷纷想方设法截胡小米的订单，比如提供定金补贴，说 自己交付快，小米交付慢等等。 之前每次小米一发布新的车型，都会创造预订奇迹，从SU7到YU7，都是如此。 比如SU7发布27分钟大定破5万，比如YU7三分钟大定破20万，这样的奇迹堪称是前无古人后无来者 的。 也因为成绩好，所以小米不断的发布战报，告诉大家，小米汽车卖的有多好，有多夸张。 说真的，这些数字，真的让友商很破防，毕竟目前大家的竞争那么激烈，一旦小米汽车卖的好，与小米 有竞争关系的车型，销量肯定就不会好。 这个成绩，有何不敢公布的？所以真正不公布的原因，并不是成绩不理想，而是雷军不想招黑，只想低 调发财。 也有人猜测，因为小米卖的太好了，所以友商找水军来黑小米汽车，当然这个是真是假，我们就不知道 了，只能说是猜测。 或许是因为之前小米汽车被黑的太惨了，这次的新一代SU7上市，雷军明显低调了很多，也胆小了很 多，不再公布预订数据了。 大家看看，从小米汽车公布SU7新一代开始预订以来，小米官方有没有发布数据，一个字都没有公布 吧。 可能很多人会觉得可能是预订不理想呗，所以不好意思发。 但根据媒体的统计分析，半个月 ...

Group 1 - The core message of the article highlights the upcoming launch of Xiaomi's new product, Turbo 5 Max, scheduled for January 29 at 19:00 [1] - Xiaomi's President, Lu Weibing, indicates that the K series will be upgraded in 2025, with the Turbo series taking over the 2000-3000 price range [1] - The industry is facing challenges, particularly due to rising memory prices, which may force brands to either increase prices or reduce specifications, threatening the value proposition of mid-range devices [1] Group 2 - Despite industry challenges, the Turbo series aims to maintain a strong presence in the mid-range market, ensuring competitive offerings in the 2.5K price segment [1] - The Turbo 5 Max will feature the Dimensity 9500s processor with a benchmark score of 3.61 million, a 9000mAh battery, and high-end features such as dual speakers and full waterproofing [1]

Group 1 - The company, Qide New Materials, confirmed its role as a supplier for Xiaomi's automotive division, specifically for the YU7 model [2] - The company's products are utilized across various components and models, but specific applications cannot be disclosed due to commercial confidentiality [2] - Investors are encouraged to refer to publicly disclosed information for further details on the company's performance [2]