智通财经网·2025-11-21 02:16Group 1 - Xiaomi Group-W's stock increased by nearly 3%, with a current price of 38.6 HKD and a trading volume of 5.049 billion HKD [1] - The company announced a share buyback of 135 million shares at a price range of 37.38-38.1 HKD, totaling 508 million HKD [1] - For Q3 2025, Xiaomi reported revenue of approximately 113.121 billion CNY, a year-on-year increase of 22.3% [1] Group 2 - In Q3 2025, the "Mobile × AIoT" segment generated revenue of 84.1 billion CNY, a year-on-year increase of 1.6% [1] - The "Smart Electric Vehicles and AI Innovation" segment achieved a record revenue of 29 billion CNY, with a year-on-year growth of 199.2% [1] - Operating profit reached 15.11 billion CNY, up 150.1% year-on-year, while adjusted net profit was approximately 11.311 billion CNY, marking an 80.9% increase [1] - The profit attributable to shareholders was about 12.271 billion CNY, reflecting a year-on-year growth of 129.26% [1] Group 3 - Huatai Securities reported that the automotive delivery volume reached a record high of 109,000 units in Q3 2025, with expectations to exceed 350,000 annual deliveries by November [2] - Automotive revenue in Q3 increased by 37% quarter-on-quarter to 25.9 billion CNY, with a gross margin improvement of 8.4 percentage points to 25.5% [2] - The automotive business turned profitable for the first time in Q3 2025, benefiting from a high-end strategy and increasing production capacity [2] Group 4 - Guojin Securities noted that the YU7 model began large-scale deliveries, with 108,796 units delivered, a quarter-on-quarter increase of 32.6% [2] - Despite a slight decline in gross margin, the high-margin YU7 is still in the ramp-up phase, limiting profit release [2] - The average selling price (ASP) per vehicle increased quarter-on-quarter, indicating that new growth drivers are gradually materializing [2]