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]

Core Viewpoint - Xiaomi Group-W (01810) announced a share buyback plan, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Summary by Categories Share Buyback Details - The company plans to repurchase 7 million shares at a total cost of HKD 288 million [1] - The buyback price per share ranges from HKD 40.74 to HKD 41.18 [1]

Core Viewpoint - Xiaomi Group-W (01810) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1 - The company will spend HKD 288 million to repurchase 7 million shares [1] - The buyback price per share ranges from HKD 40.74 to HKD 41.18 [1]

Group 1 - The core point of the article is that Xiaomi Group-W (01810.HK) announced a share buyback on November 28, spending HKD 288 million to repurchase 7 million shares [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 呈交日期： 2025年11月28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 | | | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 | ...

Investment Rating - The investment rating for Xiaomi Group-W (01810.HK) is "Outperform the Market" [6]. Core Insights - In Q3 2025, Xiaomi achieved a record high profit with total revenue of 113.12 billion yuan, representing a year-over-year increase of 22.3% and a quarter-over-quarter decrease of 2.4%. Adjusted net profit reached 11.31 billion yuan, up 80.9% year-over-year and 4.4% quarter-over-quarter. The gross margin improved to 22.9%, an increase of 2.5 percentage points year-over-year and 0.4 percentage points quarter-over-quarter [2][4]. - The smart electric vehicle (EV) business reported its first quarterly profit, generating an operating income of 700 million yuan. In Q3 2025, the company delivered 109,000 new vehicles, with automotive revenue reaching 28.3 billion yuan and a gross margin of 25.5% [2][3]. - The smartphone and AIoT business remained stable, with smartphone revenue of 46 billion yuan and a global shipment of 43.3 million units, maintaining a market share of 13.6%. The newly launched Xiaomi 17 series saw a sales increase of approximately 30% in its first month [3][4]. Summary by Sections Financial Performance - Q3 2025 total revenue was 113.12 billion yuan, with adjusted net profit at 11.31 billion yuan. The gross margin was 22.9% [2][4]. - The company expects net profit for 2025-2027 to be 43 billion, 51.4 billion, and 62.3 billion yuan respectively, with year-over-year growth rates of 82%, 19%, and 21% [4][5]. Business Segments - The smartphone segment generated 46 billion yuan in revenue, while the IoT and lifestyle products segment brought in 27.6 billion yuan, with a gross margin of 23.9% [3][4]. - The smart EV segment achieved a revenue of 28.3 billion yuan, with a gross margin of 25.5% [2][3]. Research and Development - R&D expenses reached 9.1 billion yuan in Q3 2025, reflecting a year-over-year increase of 52.1%. The company continues to invest heavily in core technologies to enhance its ecosystem [3][4].

Group 1 - Xiaomi Group announced a share buyback of 7.5 million shares at an average price of HKD 40.14, totaling over HKD 300 million, marking the fourth buyback this month [1] - The total number of shares repurchased by Xiaomi this month has reached 31.5 million, with a total expenditure exceeding HKD 1.2 billion [1] - Market analysts view Xiaomi's multiple rounds of buybacks as a signal of confidence in the company's growth prospects, aimed at stabilizing market sentiment [1] Group 2 - On November 20 and 21, Xiaomi repurchased 21.5 million shares for over HKD 800 million [3] - Founder and CEO Lei Jun personally invested over HKD 100 million to acquire 2.6 million shares of Xiaomi [3] - Xiaomi's Q3 performance showed robust fundamentals, with total revenue of CNY 113.1 billion, a year-on-year increase of 22.3%, and adjusted net profit of CNY 11.3 billion, up 80.9%, marking a historical high [3] - The main business of smartphones and AIoT is steadily growing, while innovative sectors like smart electric vehicles and AI are accelerating towards profitability, achieving a quarterly profit for the first time [3] - The 500,000th Xiaomi car rolled off the production line, setting a record for the fastest 500,000 units produced by a global new energy vehicle company [3] - Xiaomi expects to deliver over 400,000 cars by 2025 [3]

Core Viewpoint - Xiaomi Group-W (01810.HK) experienced a significant increase in stock price, rising over 4% in the afternoon trading session, indicating positive market sentiment towards the company [1] Group 1 - The stock price of Xiaomi Group-W rose by 4.24%, reaching HKD 41.8 [1] - The trading volume for Xiaomi Group-W was reported at HKD 5.666 billion [1]

Core Viewpoint - Xiaomi Group's stock price increased by over 4% following the announcement of a share buyback program, indicating strong market confidence in the company's long-term investment strategy [1] Group 1: Stock Performance and Buyback - Xiaomi Group's stock rose 4.24% to HKD 41.8, with a trading volume of HKD 5.666 billion [1] - On November 26, Xiaomi announced a buyback of 7.5 million shares at an average price of HKD 40.14, totaling over HKD 300 million [1] - This marks the fourth buyback in November, with a total of 31.5 million shares repurchased for over HKD 1.2 billion [1] Group 2: Strategic Insights - According to a report from Guotai Junan Securities, Xiaomi's long-term investment logic remains unchanged, supported by Chairman Lei Jun's HKD 100 million share purchase, reflecting strong confidence [1] - The company's automotive business has achieved its first profit, and the significant growth in Q3 performance validates the effectiveness of its "smart home and vehicle" ecosystem strategy [1] - The current stock price corresponds to a price-to-earnings ratio of only 15 times for 2027, indicating attractive value [1] Group 3: Talent Acquisition - On November 26, it was reported that Lu Zeyu, a former member of Tesla's Optimus team, joined Xiaomi's robotics team to lead the development of dexterous hands [1] - Lu expressed his desire to collaborate with like-minded individuals to accelerate the technology's development and engineering implementation [1]

Core Viewpoint - Xiaomi Group's stock price has increased by over 4%, reaching HKD 41.8, with a trading volume of HKD 5.666 billion, following the announcement of a share buyback program [1] Group 1: Share Buyback - On November 26, Xiaomi announced a buyback of 7.5 million shares at an average price of HKD 40.14, totaling over HKD 300 million [1] - This marks the fourth buyback in November, with a total of 31.5 million shares repurchased this month, amounting to over HKD 1.2 billion [1] Group 2: Long-term Investment Logic - According to a recent report from Guotai Junan Securities, Xiaomi's long-term investment logic remains unchanged, with Chairman Lei Jun's HKD 100 million share purchase reflecting strong confidence [1] - The company's automotive business has achieved its first profit, and the strong growth in Q3 results validates the effectiveness of the "smart home" ecosystem strategy [1] Group 3: Valuation and Market Position - As a leader in both the electric vehicle and consumer electronics sectors, Xiaomi's current stock price corresponds to a price-to-earnings ratio of only 15 times for 2027, indicating attractive value [1] Group 4: Talent Acquisition - On November 26, former Tesla Optimus team member Lu Zeyu joined Xiaomi's robotics team to lead the dexterous hand project, aiming to accelerate the technology's development and implementation [1]