Ge Long Hui·2025-12-21 04:10Core Insights - Xiaomi Group held the 2025 "Human-Vehicle-Home Ecosystem" Partner Conference, focusing on breakthroughs in large model technology, deepening ecosystem collaboration, and expanding an open ecosystem [1] Group 1: Large Model Technology - Xiaomi released the new generation base large model Mimo-V2-Flash, featuring a lightweight design with "309 billion total parameters + 15 billion activation parameters," ranking Top 2 in global open-source model evaluations [2] - The Mimo-V2-Flash model employs a Hybrid SWA architecture, achieving 2.0 to 2.6 times inference speedup, with single-machine throughput of 5000-15000 tokens per second [2] - The model's inference speed is three times that of DeepSeek V3.2, while its inference cost is 1/20 of Gemini 2.5 Pro, addressing efficiency and cost challenges for large model deployment [2] Group 2: Hardware Ecosystem - Xiaomi has built the world's largest consumer hardware platform, with 1.8 billion connected devices globally, including 740 million monthly active mobile users and over 1 billion IoT devices [2] - The company has delivered over 500,000 vehicles and opened more than 30 types of aftermarket ecological components, creating comprehensive hardware coverage across personal, transportation, and home devices [2] Group 3: Software Ecosystem - The upcoming Pengpai OS 3, set to launch in August 2025, will enhance ecosystem collaboration with features like support for over 60 applications and 70 scenarios, achieving 128 million application installations [3] - Xiaomi's interconnected ecosystem boasts 410 million daily active users, with over 270 million daily interconnect operations, enabling seamless integration across Apple and Windows ecosystems [3] - The Vela lightweight system has empowered 160 million smart devices, while the MINT platform integrates 3.9 terabytes of data and over 20 mature algorithms for efficient AI deployment [3] Group 4: Financial Outlook - Xiaomi plans to invest over 200 billion yuan in R&D over the next five years, with 40 billion yuan expected in 2026, indicating a long-term commitment to AI strategy [4] - The company maintains its Non-IFRS net profit forecasts of 42.6 billion yuan, 43.8 billion yuan, and 51 billion yuan for 2025-2027, respectively, and continues to hold a "buy" rating [4]