Core Viewpoint - Xiaomi showcased its "Human-Vehicle-Home Ecosystem" at the 22nd ChinaJoy, emphasizing the integration of smart devices through its Surge OS to create a seamless intelligent living experience [1][3][13] Group 1: Exhibition Highlights - The exhibition featured a 820 square meter booth with three main areas: Automotive Experience Zone, Personal Mobile Computing Center, and Scenario Display Area [3] - The Automotive Experience Zone highlighted three models: Xiaomi SU7 Ultra, Xiaomi YU7 Max, and Xiaomi SU7 Max, attracting significant attention from attendees [3][5] - The Personal Mobile Computing Center displayed the Xiaomi 15 series, Xiaomi MIX Flip 2, and various wearable devices, including the Xiaomi AI glasses, which garnered considerable interest [7] Group 2: Smart Home Integration - Four lifestyle scenario spaces were created to showcase Xiaomi's home appliances and AIoT products, demonstrating the interconnectedness and collaborative operation of devices through Surge OS [9] - Featured products included air conditioners, refrigerators, smart TVs, and robotic vacuum cleaners, providing a tangible experience of a smart living environment [9] Group 3: Interactive Engagement - The booth included interactive elements where visitors could receive customized bottled water and ice cream, along with completing tasks for rewards [11] - This engagement strategy aimed to enhance visitor experience and promote brand interaction during the exhibition [11] Group 4: Future Outlook - Xiaomi aims to continue advancing its underlying technology and expanding the "Human-Vehicle-Home Ecosystem" to enhance user experience and convenience [13]

Group 1 - The 22nd China International Digital Interactive Entertainment Expo (ChinaJoy) opened in Shanghai, showcasing Xiaomi's "human-vehicle-home ecosystem" theme [1] - Xiaomi's exhibition area covered 820 square meters, divided into three main sections: automotive display experience area, personal mobile computing center, and scenario display area [1] - The automotive section featured models such as the Xiaomi SU7 Ultra, Xiaomi YU7 Max, and Xiaomi SU7 Max, with the YU7 being the brand's first luxury high-performance SUV launched in June [1] Group 2 - The personal mobile computing area displayed various smart devices, including the Xiaomi 15 series, MIX Flip 2, MIX Fold 4, and Redmi K80 series, along with wearable devices like the Xiaomi Watch S4 and Xiaomi Band 10 [1][2] - The scenario display area showcased AIoT products across four scenes: reading space, smart living room, creative space, and fitness space, demonstrating cross-device smart interconnectivity powered by Xiaomi's Surge OS [2] - Interactive activities were set up at the exhibition, allowing visitors to receive customized drinks and ice cream while completing tasks for gifts, highlighting Xiaomi's ecosystem integration in smartphones, smart cars, and smart home products [2]

Core Insights - Xiaomi showcased its latest electric vehicles and smart ecosystem at the 22nd ChinaJoy, emphasizing a user-centered approach to integrate various smart devices [1][3] - The exhibition featured three main vehicle models: SU7, SU7 Ultra, and YU7, highlighting Xiaomi's commitment to the automotive sector [1][3] - Xiaomi's booth included interactive experiences and various lifestyle scenarios, demonstrating the seamless connectivity of its devices through the Xiaomi Surge OS [3][4] Group 1 - Xiaomi's participation theme at ChinaJoy was "User-Centric, Building a 'Human-Car-Home Ecosystem'" [1] - The exhibition area covered 820 square meters, divided into automotive experience, personal mobile computing, and scenario display zones [3] - The automotive experience zone was the main attraction, featuring the SU7 Ultra, YU7 Max, and SU7 Max models [3] Group 2 - Additional products showcased included the Xiaomi 15 series, MIX Flip 2, MIX Fold 4, and various wearable devices like the Xiaomi Watch S4 series [3] - The home scenario display featured four living spaces, showcasing smart appliances and AIoT products, enhancing the user experience [3] - Interactive activities at the booth included custom gifts for visitors completing tasks, enhancing engagement [4]

7月29日，2025年《财富》世界500强榜单发布。小米集团排名第297位，连续7年上榜，排名较上一年提高 100位，创下2019年上榜以来的最大增幅。 2024年小米"人车家全生态"正式形成闭环，业绩强劲反弹。财报数据显示，2024年小米集团总收入同比增 长35.0%，至人民币3659亿元，经调整净利润同比增长41.3%，达人民币272亿元，创史上最强业绩。2024 年第四季度，小米季度营收首次超过1000亿民币，刷新单季业绩历史纪录。 小米手机、汽车、大家电三大增长曲线，均实现强劲增长。小米集团创始人、董事长兼CEO雷军表示， 2025年小米将继续保持30%以上的增长速度。 今年一季度，小米在中国手机市场的份额重返第一，二季度小米手机激活量再度在中国市场排名第一。在 全球手机市场，截至2025年二季度，小米连续20个季度稳居前三。2025年6月，小米首款SUV YU7发布， 18小时锁单量超240000台，创下中国汽车工业新纪录。7月，小米汽车交付量超过30万辆，创下汽车"新势 力"车企交付速度纪录。 过去5年，小米研发投入超1020亿元人民币，在芯片、操作系统、人工智能、汽车"三电"等核心技术领域 取得 ...

7月29日，@小米公司发文：2025《财富》世界500强出炉，小米位列第297位，连续7年上榜！较去年大 幅提升100位，创下2019年入榜以来最大涨幅，这份成绩，离不开每一份信任与支持！ 此后@雷军发文：今年是小米创业第十五周年，小米"人车家全生态" 战略正式闭环，手机、汽车、大 家电三大增长曲线齐头并进，开启新一轮增长。 小米将始终以技术为本，向着 "全球新一代硬核科技引 领者" 挺进！ （金羊网综合@小米公司、@雷军） 编辑：严哲川 ...

7月29日，2025年《财富》世界500强发布。小米集团排名第297位，较上一年提高100位，创下2019年上 榜以来的最大增幅。2024年小米集团总收入3659亿元，收获史上最强业绩。 来源：新浪网 对此，小米集团创始人、董事长兼CEO雷军发微博表示，今年是小米创业第十五周年，小米"人车家全 生态" 战略正式闭环，手机、汽车、大家电三大增长曲线齐头并进，开启新一轮增长。 小米将始终以技 术为本，向着 "全球新一代硬核科技引领者" 挺进！ ...

【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com 对此，小米集团创始人、董事长兼CEO雷军发微博表示，今年是小米创业第十五周年，小米"人车家全 生态" 战略正式闭环，手机、汽车、大三大增长曲线齐头并进，开启新一轮增长。 小米将始终以技术为 本，向着 "全球新一代硬核引领者" 挺进！ 7月29日，2025年《财富》世界500强发布。小米集团排名第297位，较上一年提高100位，创下2019年上 榜以来的最大增幅。2024年小米集团总收入3659亿元，收获史上最强业绩。 ...

对此，小米集团创始人、董事长兼CEO雷军发微博表示，今年是小米创业第十五周年，小米"人车家全 生态" 战略正式闭环，手机、汽车、大家电三大增长曲线齐头并进，开启新一轮增长。 小米将始终以技 术为本，向着 "全球新一代硬核科技引领者" 挺进！ 7月29日，2025年《财富》世界500强发布。小米集团排名第297位，较上一年提高100位，创下2019年上 榜以来的最大增幅。2024年小米集团总收入3659亿元，收获史上最强业绩。 责任编辑：李思阳 ...

Investment Rating - The report maintains a "Buy" rating for the company [15]. Core Viewpoints - The company's home appliance business has shown significant growth, evolving from a supplementary role in the IoT ecosystem to a crucial component of the "human-vehicle-home" strategy. The company has established a competitive advantage through its ecosystem model, popular product strategy, and effective marketing capabilities. With the development of its automotive business, the company is expected to optimize its offline channel system and actively promote its large appliance export plans, enhancing the long-term growth potential of the home appliance segment [3][9][39]. Summary by Sections Home Appliance Business: Strategic Upgrade and Scale Breakthrough - The company has built a comprehensive "human-vehicle-home" ecosystem over more than a decade, with home appliances as a core business. The smart home appliance business is projected to achieve a CAGR of 48.8% from 2020 to 2024. The company has achieved full category coverage in home appliances, primarily developing white and black goods in-house while utilizing an ecosystem model for other categories [9][20][26]. External Factors: Differentiated Positioning and Market Trends - The company has rapidly gained market share in a mature domestic home appliance industry due to two main external factors: a cautious consumer environment leading to a preference for high cost-performance products and a shift in leading companies focusing more on profitability, which has created favorable conditions for the company [10][40]. Internal Factors: Ecosystem Support and Innovation - The company's competitive edge in home appliances is attributed to three main aspects: rapid category expansion through its ecosystem model, a successful product strategy that allows for cost advantages, and strong marketing and user operation capabilities that enable quick capture of consumer demand [11][39]. Growth Potential: Initial Foundation and Promising Outlook - The home appliance segment has significant growth potential, with high penetration rates in certain categories and room for expansion in others. The company is expected to see strong growth in online markets for air conditioners, dishwashers, and electric ovens, supported by the optimization of offline channels and global expansion of large appliances [12][39]. Investment Recommendation: Seizing Multi-Dimensional Development Potential - The company has established a leading global platform for smart terminals, with steady growth in its IoT business. The cautious consumer environment and the industry's focus on profitability provide a favorable backdrop for the company's development. The home appliance business is expected to deliver strong growth momentum in the long term, supported by the anticipated high growth of its smartphone and IoT business, as well as rapid expansion in the automotive sector. The projected net profits for 2025-2027 are estimated at 42.39 billion, 55.75 billion, and 70.08 billion respectively, with corresponding PE ratios of 32.6, 24.8, and 19.7 [13][39].

Core Insights - The launch of three new cars, Xiaomi YU7, Xpeng G7, and BYD Seal Travel Edition, aims to invigorate the competitive Chinese automotive market and address the ongoing "involution" issues [10] Group 1: Xiaomi YU7 - Xiaomi YU7 has garnered significant attention for its aesthetic appeal, featuring nine color options and a design that resonates with younger consumers [1][4] - The vehicle achieved a record of 200,000 pre-orders within three minutes of its launch, indicating strong market demand [2] - Xiaomi's strategy focuses on leveraging attractive designs to capture the interest of the youth demographic, similar to the success of its previous model, SU7 [4] Group 2: Xpeng G7 - Xpeng G7 is positioned as a cutting-edge AI smart family SUV, featuring the world's first L3-level AI capabilities [5][7] - The vehicle is equipped with three Turing AI chips, boasting a processing power of 2250 TOPS, which is significantly higher than competitors [5] - Xpeng's focus on AI technology aims to enhance driving intelligence and safety, paving the way for future advancements in autonomous driving [7] Group 3: BYD Seal Travel Edition - BYD's Seal Travel Edition is the world's first plug-in hybrid travel car, designed to cater to the preferences of family users in different regions [8][10] - The vehicle combines the agility of a sedan with the spaciousness of an SUV, offering a versatile option for consumers [8] - BYD's strategic launch in Europe coincides with a surge in demand for travel cars, indicating a potential expansion into new markets [10] Group 4: Market Dynamics - The recent launches reflect a shift in focus from price competition to product strength, as companies aim to establish unique identities in a crowded market [10] - The automotive industry is witnessing a call for healthier competition, moving away from detrimental price wars that threaten industry stability [10]