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直击小米发布会,玄戒O1成主角!雷军发声:未来五年再投入2000亿元研发费用
Sou Hu Cai Jing· 2025-05-22 13:11
Core Viewpoint - Xiaomi celebrates its 15th anniversary with a strategic product launch, showcasing advancements in its ecosystem and technology, including the introduction of the new Xuanjie O1 processor and various products like the Xiaomi 15S Pro and Xiaomi Pad 7 Ultra [1][3]. Group 1: Product Launch and Features - The Xiaomi 15S Pro features two versions priced at 5499 yuan for 16GB+512GB and 5999 yuan for 16GB+1TB [5]. - The Xiaomi Pad 7 Ultra is priced starting at 5699 yuan and is touted as Xiaomi's best tablet to date, equipped with PC-level professional software and a full-size floating keyboard [5]. - The Xiaomi Watch S4 15th Anniversary Edition is priced at 1299 yuan and includes the Xuanjie T1 long-lasting 4G smartwatch chip [6]. Group 2: Technological Advancements - The Xuanjie O1 processor is built on a second-generation 3nm process with 19 billion transistors and a die area of only 109mm², achieving a lab score exceeding 3 million [3]. - Xiaomi aims to compete with Apple’s chips, claiming that its GPU has already surpassed the performance of Apple's A18 Pro in several aspects [3]. - The company has invested 13.5 billion yuan in the development of the Xuanjie series as of April 2025, marking a significant commitment to its chip development journey [3]. Group 3: Strategic Vision and Investment - Xiaomi's chairman, Lei Jun, announced a commitment to invest an additional 200 billion yuan in R&D over the next five years, emphasizing the company's ambition to solidify its position as a comprehensive technology ecosystem provider [1]. - The company has successfully transitioned from 0 to 1 in various sectors, including automotive, chips, and smart factories, completing its "people, vehicles, and home ecosystem" strategy [1].
【国信电子胡剑团队】小米集团-W:2024年营收利润创历史新高,人车家全生态战略全面落地
剑道电子· 2025-03-26 03:26
点击 关注我们 报告发布日期:2025年3月21日 报告名称:《 小米集团-W(01810.HK)-2024年营收利润创历史新高,人车家全生态战略全面落地 》 分析师:胡剑 S0980521080001/胡慧 S0980521080002/ 叶 子 S0980522100003 / 詹浏洋 S0980524060001 / 张大为 S0980524100002/ 李书颖 S0980522100003 联系人:连欣然 完整报告请扫描下方二维码 核心观点 2024年业绩超预期,营收利润大幅增长 2024年公司总营收3659亿元(YoY +35%),经调整净利润272亿元(YoY +41%)。其中,4Q24营收1090亿元 (YoY +49%,QoQ +18%),经调整净利润83亿元(YoY +69%,QoQ +33%)。2024年公司总营收及净利润 实现高速增长,均创历史新高。分业务看,2024年智能手机、IoT与生活消费产品、互联网服务、智能电动汽 车业务营收占比分别为52%/29%/9%/9%。2020-2030公司新十年目标大规模投入底层核心技术,致力于成为新 一代全球硬核科技引领者,2024年公司研发支出 ...
小米集团-W:2024年营收利润创历史新高,人车家全生态战略全面落地-20250322
Guoxin Securities· 2025-03-22 09:10
Investment Rating - The investment rating for Xiaomi Group-W (01810.HK) is "Outperform the Market" [6] Core Views - The report highlights that Xiaomi achieved record high revenue and profit in 2024, with total revenue reaching 365.9 billion yuan (YoY +35%) and adjusted net profit of 27.2 billion yuan (YoY +41%) [1][4] - The company's strategy of integrating vehicles, home, and technology is fully implemented, contributing to significant growth across various business segments [1][4] - The report emphasizes the successful high-end strategy in the smartphone segment, with revenue of 191.8 billion yuan (YoY +22%) and an average selling price (ASP) reaching a historical high of 1,138 yuan [2] Summary by Sections Revenue and Profit Growth - In 2024, Xiaomi's total revenue was 365.9 billion yuan, with a significant increase in Q4 revenue to 109 billion yuan (YoY +49%, QoQ +18%) and adjusted net profit of 83 billion yuan (YoY +69%, QoQ +33%) [1] - The revenue breakdown for 2024 shows smartphones at 52%, IoT and lifestyle products at 29%, internet services at 9%, and smart electric vehicles at 9% [1] Smartphone Business - The smartphone business saw a revenue increase to 191.8 billion yuan, with a gross margin of 12.6% and a 5.2% increase in ASP [2] - Xiaomi's smartphone shipments reached 170 million units, a 16% increase, capturing 14% of the global smartphone market [2] Smart Electric Vehicles - Revenue from smart electric vehicles reached 32.8 billion yuan, with a gross margin of 18.5% [2] - The company plans to deliver 350,000 vehicles in 2025, up from 137,000 in 2024, indicating a strong growth trajectory [2] IoT and Internet Services - IoT business revenue reached 104.1 billion yuan (YoY +30%) with a gross margin of 20.3% [3] - Internet services generated 34.1 billion yuan (YoY +13%) with a high gross margin of 76.6% [3] Financial Forecasts - The report raises profit forecasts for 2025-2027, expecting net profits of 31.6 billion yuan, 42.4 billion yuan, and 60.8 billion yuan respectively, with growth rates of 34%, 34%, and 43% [4][5]