XIAOMI(HK:01810) 3 6 Ke·2026-01-12 01:54Core Viewpoint - Lei Jun emphasizes the importance of engineers and technology at Xiaomi, indicating a shift in narrative focus towards technological innovation and foresight in the face of increasing competition and market challenges [1][4][10]. Group 1: Recognition of Engineers - Lei Jun awarded significant technical prizes to engineers, marking it as a key annual event for Xiaomi [1]. - In a recent live stream, Lei Jun reiterated his identity as an engineer rather than a marketing master, expressing disdain for marketing tactics [2][3]. Group 2: Shift in Narrative - The narrative surrounding Xiaomi is changing, with a growing focus on safety incidents, false marketing, and public perception rather than just products [4][5]. - Xiaomi's ability to set the agenda is weakening, attributed to rapid technological changes and the increasing importance of foresight in tech companies [5]. Group 3: Importance of Foresight - Foresight is becoming a core competitive advantage for leading entrepreneurs, with successful figures like Steve Jobs and Elon Musk exemplifying this trait [6]. - Lei Jun is positioned between Tim Cook and Elon Musk, needing to enhance his foresight to maintain relevance and success [7]. Group 4: AI and Future Directions - Xiaomi is at a critical juncture, needing to pivot towards becoming an AI-focused company, marking a third major investment phase after mobile and automotive sectors [10]. - The company has invested over 100 billion in technology R&D over the past five years, with plans to double this to 200 billion in the next five years [24]. Group 5: Competitive Landscape - Xiaomi's AI model development is lagging behind competitors like ByteDance and Alibaba, which have made significant advancements in AI models since 2022 [12]. - The company has faced challenges in the AI hardware market, with initial enthusiasm for products like AI glasses waning quickly [14]. Group 6: Opportunities in AI Integration - The integration of AI with mobile and automotive technologies presents a unique opportunity for Xiaomi, as it can leverage its manufacturing capabilities and existing technology [19][20]. - There is a lack of defined standards for AI integration in mobile and automotive sectors, providing Xiaomi with a chance to establish itself as a leader [23]. Group 7: Financial Considerations - Despite ambitious plans, Xiaomi's budget for AI development may be insufficient compared to competitors who are investing significantly more [25]. - The company may need to consider restructuring its AI division for independent financing to support its technological ambitions [25][26]. Group 8: Future Challenges - To maintain its competitive edge, Xiaomi must enhance its technological narrative and public perception, similar to how Musk has positioned himself in the tech landscape [29]. - The transition from "Lei Busi" to "Lei Musk" requires substantial investment and a shift in strategy to align with emerging technological trends [29].