小米集团-W(01810)发布公告，于2025年12月1日，该公司斥资4.02亿港元回购1000万股股份，每股回购 价格为40.04-40.48港元。 ...

智通财经APP讯，小米集团-W(01810)发布公告，于2025年12月1日，该公司斥资4.02亿港元回购1000万 股股份，每股回购价格为40.04-40.48港元。 ...

格隆汇12月1日丨小米集团-W(01810.HK)公告，12月1日耗资4亿港元回购1000万股，回购价格每股 40.04-40.48港元。 ...

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： 2025年12月1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 | | | | | | | ...

Core Viewpoint - Morgan Stanley has issued a report giving Xiaomi Group-W (01810) an "Overweight" rating with a target price of HKD 62 [1] Summary by Relevant Categories Financial Performance - Despite market expectations of downward pressure on smartphone gross margins due to rising memory costs, historical data shows that Xiaomi's smartphone gross margins expanded during periods of increasing DRAM prices from 2016 to 2017, 2019 to 2021, and 2022 to 2023 [1] - The effective cost transfer mechanism of the company, along with significant cost increases leading to product price hikes, has contributed to this margin expansion [1] Strategic Initiatives - Xiaomi's product structure upgrade and ongoing high-end strategy are identified as long-term positive factors driving gross margin [1]

摩根士丹利发布研报称，给予小米集团-W(01810)"增持"评级，目标价为62港元。市场普遍预期当内存 成本上升时，智能手机毛利率将面临下行压力，然而翻查过往数据，在2016至2017年、2019至2021年及 2022至2023年周期中，当DRAM价格呈上升趋势时，小米的智能手机毛利率实际上仍录得扩张，相信是 由于集团的成本转嫁机制有效，加上显著成本上升推动产品涨价，若趋势逆转时高产品售价配合低成 本，亦可触发企业利润率复苏。大摩又指，小米的产品结构升级及持续推进的高端化策略亦是推动毛利 率长期正面的因素之一。 ...

来源：新浪网 12月1日，小米公司创始人、董事长、首席执行官雷军微博发文称，人民日报今天头版报道小米《生 根，智造升级》，并表示，小米坚持技术为本，过去五年投入了超过1000亿元研发费用，预计未来五年 投入将超过2000亿元研发费用。 【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 ...

Core Insights - Xiaomi is focusing on technological innovation as a key driver for high-quality development, with significant investments in research and development planned for the coming years [3][4]. Group 1: Technological Innovation - Xiaomi's self-developed 3nm processor, the Xuanjie O1, integrates approximately 19 billion transistors, showcasing the company's commitment to advanced technology [2]. - The company plans to invest over 24 billion yuan in R&D in 2024, with a projected total of over 200 billion yuan in the next five years [3]. - Xiaomi's R&D workforce exceeds 24,000, accounting for nearly 50% of its total employees, emphasizing the importance of innovation in its business model [3]. Group 2: Smart Manufacturing - Xiaomi's automotive factory utilizes advanced manufacturing techniques, including a 9,100-ton die-casting machine that reduces manufacturing processes by 80% and production time by 45% [6]. - The company has established three large smart factories for automotive, smartphones, and smart home appliances, implementing a digital and intelligent manufacturing platform [7]. - Xiaomi's smart manufacturing platform connects over 200 manufacturing enterprises, enhancing production efficiency and product quality across various sectors [7]. Group 3: Global Expansion - Xiaomi ranks among the top three smartphone vendors in 57 countries and regions, with significant market presence in Latin America and the Middle East [8][9]. - The company is expanding its retail presence in Southeast Asia, with plans to open over 130 new stores by the first three quarters of 2025, enhancing brand visibility and consumer experience [9]. - Xiaomi's global operations have created over 2,000 foreign jobs and established 11 cooperative factories in seven countries, contributing to local economic development [10]. Group 4: Brand Perception - The emphasis on innovation and quality is reshaping the global perception of Chinese technology companies, with Xiaomi leading this change [11].

Core Points - Xiaomi Group-W repurchased 7 million shares on November 28 at a price range of HKD 40.740 to HKD 41.180, totaling HKD 288 million [2] - The stock closed at HKD 41.020 on the same day, reflecting a decrease of 0.19%, with a total trading volume of HKD 3.507 billion [2] - Year-to-date, Xiaomi has conducted 17 repurchase transactions, acquiring a total of 72.6252 million shares for a cumulative amount of HKD 3.038 billion [2] Repurchase Details - On November 28, 2025, 700,000 shares were repurchased at a maximum price of HKD 41.180 and a minimum price of HKD 40.740, amounting to HKD 28.78032 million [2] - On November 26, 2025, 750,000 shares were repurchased at a maximum price of HKD 40.220 and a minimum price of HKD 40.020, totaling HKD 30.10632 million [2] - On November 25, 2025, 250,000 shares were repurchased at a maximum price of HKD 40.340 and a minimum price of HKD 40.160, amounting to HKD 10.07180 million [2] - The repurchase activity has shown a consistent trend, with significant amounts spent on shares at various price points throughout the year [2]

Core Viewpoint - Xiaomi Group has continued its share repurchase program, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Summary by Categories Share Repurchase Activity - On November 28, Xiaomi Group announced a repurchase of 7 million shares at an average price of 41.11 HKD, totaling over 287 million HKD [1] - This marks the fifth repurchase by Xiaomi in November, with a total of 38.5 million shares repurchased this month, amounting to over 1.5 billion HKD [1]