XIAOMI(HK:01810) Zheng Quan Shi Bao Wang·2025-12-26 03:08Core Insights - Xiaomi aims for a significant breakthrough in the high-end market, as evidenced by the launch of multiple high-end products during its 15th anniversary event [1] - The company has upgraded its strategic partnership with Leica, enhancing its imaging capabilities and product aesthetics [2] - Xiaomi's high-end strategy is supported by substantial investments in core technology, with R&D expenditures expected to reach 32-33 billion yuan for the year [3] Group 1: Product Launches - Xiaomi introduced the Xiaomi 17 Ultra and several other high-end products, marking a shift towards a more differentiated product positioning [1] - The Xiaomi 17 Ultra is available in multiple configurations, with prices ranging from 6,999 yuan to 8,499 yuan, and the Leica version priced between 7,999 yuan and 8,999 yuan [2] - Additional products launched include the Mijia Central Air Conditioning Pro and Xiaomi Smart Home Screen 11, with prices starting at 12,299 yuan [2] Group 2: Strategic Developments - The year 2025 is viewed as a transformative year for Xiaomi, with a new product release strategy that emphasizes high-end offerings [3] - The Xiaomi 17 series has been positioned to compete directly with Apple, with the Xiaomi 17 Pro Max achieving over 50% sales in its category [3] - The company has committed to increasing its R&D investment significantly, with a total of 23.5 billion yuan spent in the first three quarters of the year [3]