Zhi Tong Cai Jing·2025-09-29 06:15Core Viewpoint - Xiaomi Group's stock has seen a significant decline, dropping over 3% in a bearish market following an 8% drop in the previous trading day, indicating investor concerns about the company's recent product launch and future plans [1] Group 1: Stock Performance - As of the latest update, Xiaomi's stock is down 2.74%, trading at 53.15 HKD, with a trading volume of 12.477 billion HKD [1] Group 2: Product Launch and Market Reaction - On September 25, Xiaomi held a product launch event where it introduced the flagship Xiaomi 17 series smartphones, Xiaomi Pad 8 series tablets, and a range of high-end home appliances [1] - Nomura's report highlighted that CEO Lei Jun did not provide updates on the launch of the玄戒 chip or the timeline and capacity expansion plans for new electric vehicle models, suggesting a lack of excitement from the event [1] - The Xiaomi 17 series went on sale across all channels on September 27, with the company's public relations manager announcing that the series set a record for first-day sales and revenue for new smartphone series in the domestic market within 5 minutes of launch [1] Group 3: Marketing and Public Perception - Xiaomi's promotional materials for the new Xiaomi 17 Pro smartphone featured slogans that sparked online discussion, with some interpreting them as "wordplay" due to the small print clarifying the product's design goals [1] - The customer service team clarified that the term "逆光之王" (King of Backlight) refers to the phone's capability to perform well in backlight photography, emphasizing the technology and features of the device [1]