XIAOMI(HK:01810) Wanlian Securities·2025-05-23 01:17Market Overview - The A-share market experienced a decline on Thursday, with the Shanghai Composite Index falling by 0.22% to close at 3,380.19 points, the Shenzhen Component Index down by 0.72%, and the ChiNext Index decreasing by 0.96%. The total trading volume in the A-share market was 1.10 trillion RMB, with over 4,200 stocks declining. Only the banking, media, and household appliance sectors saw gains, while the beauty care and social services sectors led the losses. Concept sectors such as mobile gaming and terahertz technology performed well, while epoxy propylene and graphite electrode concepts faced significant declines. In the Hong Kong market, the Hang Seng Index dropped by 1.19%, and the Hang Seng Tech Index fell by 1.70%. Internationally, the U.S. stock indices showed mixed results, with the Dow Jones remaining flat, the S&P 500 down by 0.04%, and the Nasdaq up by 0.28%. European and Asia-Pacific markets also experienced declines [2][6]. Important News - The tax reduction bill proposed by U.S. President Trump passed the House of Representatives with a narrow margin on May 22. The bill aims to reduce taxes by over 4 trillion USD over the next decade and cut at least 1.5 trillion USD in spending. It will also raise the U.S. debt ceiling by 4 trillion USD, which is lower than the 5 trillion USD sought by the Senate [3][7]. - Xiaomi held its 15th-anniversary strategic product launch on May 22, unveiling three new products equipped with its self-developed Xuanjie chip: the Xiaomi 15S Pro, Xiaomi Pad 7 Ultra, and Xiaomi Watch S4 15th Anniversary Edition. The highly anticipated Xiaomi YU7, the company's first SUV, was also officially launched, positioned as a "luxury high-performance SUV" with features like laser radar and extended battery life, set to be released in July. Xiaomi's founder Lei Jun stated that the company has committed to chip development for at least 10 years with an investment of over 50 billion RMB, and plans to invest an additional 200 billion RMB in core technology research and development over the next five years [3][7].