雷军的小米金融版图，缺了一角

Core Insights - Xiaomi Group's financing guarantee license has been revoked, indicating regulatory challenges in its financial operations [2][5] - Alpha (Tianjin) Financing Guarantee Co., Ltd., fully owned by Xiaomi Financial (Hong Kong) Co., Ltd., had its business license canceled after approximately 5 years and 8 months of operation [3][4][5] Company Overview - Alpha Financing Guarantee was established in June 2019 with a registered capital of 100 million yuan, focusing on various financing guarantee services [3] - The legal representative of Alpha Financing Guarantee, Yue Kai, also holds positions in multiple Xiaomi-related companies, including Xiaomi Commercial Factoring and Xiaomi Consumer Finance [4] Financial Strategy - Xiaomi has been expanding its financial services since 2015, establishing several companies and acquiring various financial licenses, including online micro-lending and insurance brokerage [6][7] - The company aims to integrate its financial services into its broader business strategy, including automotive finance solutions [11] Financial Performance - Xiaomi's internet services revenue reached 18.17 billion yuan in the first half of 2025, showing a year-on-year growth of 11.4%, contributing approximately 8% to total revenue [12]