Core Viewpoint - Xiaomi is actively addressing product-related controversies and shifting its communication strategy to regain control over its narrative, as demonstrated by a recent live-streamed event where CEO Lei Jun and other executives responded to public concerns and showcased the YU7 vehicle [1][3][4]. Group 1: Live Stream Event - The live stream, initially scheduled for New Year's Eve, featured a detailed disassembly of the YU7 vehicle, allowing Xiaomi's engineers to explain design concepts and technical details [1][3]. - Lei Jun acknowledged the company's previous reluctance to respond to product criticisms, emphasizing a new approach to engage with consumers and address their concerns directly [3][4]. - The event lasted over four hours and included a segment dedicated to addressing various criticisms that had circulated online, marking a strategic shift for the company [1][4]. Group 2: Communication Strategy - Xiaomi's new communication strategy aims to proactively address public concerns and clarify misconceptions, with Lei Jun stating that this is just the beginning of a series of planned responses [4][5]. - The company is encouraging open discussions and evaluations from industry peers, with executives like Xu Jieyun advocating for transparency in product assessments [5][6]. - Lei Jun and Xu Jieyun highlighted the importance of combating misinformation and malicious attacks, revealing that legal actions have been taken against individuals spreading false information about the company [6][7]. Group 3: Future Strategy and Investment - Xiaomi has committed to investing over 200 billion yuan in research and development over the next five years, focusing on generative AI and enhancing its product ecosystem [8][9]. - The company reported a 30% increase in sales for the new 17 series compared to the previous 15 series, indicating strong market performance and consumer interest [9].

小米在超级工厂的机器轰鸣声中开启了新年。 由于集团创始人、董事长兼CEO雷军患上感冒，一场原定于跨年夜的拆车直播于1月3日晚间姗姗来迟。除雷军外，小米汽车副总裁 李肖爽、工业设计总经理李田原等多位汽车业务核心成员悉数亮相，集团新任公关部总经理徐洁云也在回应质疑的环节现身于镜头 前。 徐洁云自述，此前他同样患上了重感冒，雷军打趣道"我怀疑就是被他（徐洁云）传染的"。 玩笑之外，雷军与徐洁云确实并肩站在了回应舆论的战线上——这场时长超4小时的直播没有过多寒暄，核心是一场直白的双向拆 解：小米工程师现场拆解YU7，雷军与徐洁云等人则拆解缠绕小米的质疑。 当质疑声从产品争议蔓延为舆论乱象，当清者自清的沉默不再能平息误解，作为小米灵魂人物的雷军选择重新站到台前，以亲自下 场的姿态完成纠偏。 对小米而言，回应争议的动作恰是一次战略表态：过去坚信"好产品自会说话"的公司正在主动打破沉默。而扛下这份责任的，应该 是雷军，也只能是雷军。 0 A 图源/雷军直播间截图 01. 拆解YU7，拆解小米 YU7更像是一个沟通载体，雷军借此次拆解向外界传递出公司2026年及未来的明确态度："过去这段时间，网上关于我们产品的各 类疑问，我 ...

小米汽车 2026年全年交付目标 55万辆 48 DI 瑞财经 赵盼盼 1月3日晚间，小米创办人、董事长兼CEO雷军启动2026年第一场直播，现场直播拆一台 新的小米YU7，直播持续大约四五个小时。瑞财经全程直击。专题》》 雷军表示，2026年挑战肯定不会少，小米会聚焦三点： 第一，坚持技术立业，未来五年坚持投入2000亿元在技术研发上。 第二，加大对生成式AI大模型的投入，用AI的思路把小米已经做的所有事情全部重做一遍，用AI全面 赋能。 第三，坚持为用户打造人车+全生态的体验，把产品做到极致。 对于2026年小米汽车的交付目标，雷军的计划是55万辆，他希望能让喜欢小米汽车的朋友早日提到车， 也希望到2026年年底跨年的时候，能交出一个超越这一目标的成绩单。 雷军透露，2025年初，公司定的全年交付任务是30万辆，后来进展比较顺利，提高到35万辆，最后全年 实际交付总数超过了41万辆。 据此计算，55万辆的目标较上年实际交付量增长36%。 雷军还提到，2025年初的3个flag最后都完成了，2026年将继续健身打卡100次，并补学开插车。 ...

Core Viewpoint - The article highlights the significant milestone of domestic GPU company Muxi's IPO, reflecting the ambition and challenges of China's semiconductor industry in overcoming the "bottleneck" of computing power [6][9][36]. Company Overview - Muxi, founded in 2020 by three former AMD scientists, has rapidly evolved from a small office in Shanghai to a company with nearly 900 employees, successfully developing high-performance GPU chips [8][11]. - The company has launched several products, including the Xisi N100 and the Xiyun C500, which have become key revenue drivers, with the latter generating 7.22 billion yuan in 2024, accounting for 97.28% of its main business revenue [15][16]. Financial Performance - Muxi has not yet achieved profitability, with cumulative losses exceeding 3.2 billion yuan since its inception. The company anticipates reaching breakeven by 2026 [16][25]. - The revenue figures from 2022 to 2025 show a significant increase, with projected revenues of 42.64 million yuan in 2022, 530.21 million yuan in 2023, and 7.4 billion yuan in 2024 [16]. Market Context - The domestic GPU market is experiencing explosive growth, with the market size expected to increase from approximately 14.29 billion yuan in 2020 to around 99.67 billion yuan in 2024 [36]. - The shift in procurement logic among industry clients has transformed domestic GPUs from optional to essential solutions, emphasizing the importance of usability and ecosystem maturity [36]. Investment Landscape - Muxi has attracted over 120 investors through multiple funding rounds, including prominent venture capital firms and state-owned funds, reflecting strong market confidence in its potential [20][22]. - The company completed its final pre-IPO funding round, raising over 7.2 billion yuan, leading to a post-investment valuation of 21.07 billion yuan [23][24]. Competitive Landscape - The article outlines three critical challenges for domestic GPU companies: architecture, cluster deployment, and time to market, emphasizing that success requires not just producing chips but also creating a robust ecosystem [29][30][31]. - The competition in the AI era is shifting from chip specifications to the effectiveness of large-scale deployments and operational stability [31][36]. Future Outlook - Muxi's IPO is seen as a starting point for a longer journey, with high expectations for continued technological leadership and market share growth [25][33]. - The company currently holds orders worth 1.43 billion yuan and is actively pursuing key clients in the internet and telecommunications sectors [25].

Core Insights - Shandong Province's Natural Resources Department announced the approval of 18 research projects for the 2025 Science and Technology Innovation Platform, with a focus on geological studies and mining technology [1] Group 1: Project Overview - The project titled "Key Technologies for Constructing a Spatiotemporal Event Knowledge Graph of the Jiaodong Gold Mining System: A Case Study of the Shanshan Island Mining Belt" was successfully funded [1] - This project is supported by the Ministry of Natural Resources' Deep Gold Mine Exploration and Mining Technology Innovation Center [1] Group 2: Objectives and Methodology - The project aims to deeply analyze geological data from the Jiaodong North Mining Area, integrating multi-source geological information to create a knowledge graph that accurately depicts the spatiotemporal processes and related events of mineral migration and accumulation [1] - A high-quality knowledge base for Jiaodong gold mines will be established to provide structured and comprehensible professional knowledge for next-generation generative AI models [1] Group 3: Future Directions - The project will enhance collaboration with universities and research institutions to systematically integrate vast and diverse geological, geophysical, geochemical, and exploration data [1] - The goal is to break down information barriers and transition geological exploration from an experience-driven approach to a data and intelligence-driven paradigm, supporting a new round of strategic breakthroughs in mineral exploration [1]

Group 1 - The issuance scale of new funds has exceeded 300 billion yuan this year, with nearly half of the funds being equity funds [1][3] - A total of 375 new funds have been established this year, with 275 being equity funds that raised nearly 150 billion yuan, and over 40 equity funds raised more than 1 billion yuan each [3] - The issuance of actively managed equity funds has seen a rebound, with over 50 such funds established in the first quarter, raising approximately 17.84 billion yuan, marking a significant increase compared to the previous quarter [3][4] Group 2 - The technology sector has attracted significant attention this year, leading to a focus on the STAR Market stocks within actively managed equity funds, which had a configuration ratio of 15.17% in the first quarter, up 2.11 percentage points from the previous quarter [3] - The proportion of STAR Market stocks in actively managed equity funds has continued to rise, increasing from 5.91% to 7.50% [3] - The bond fund issuance market is expected to maintain a steady upward trend, with 69 bond funds issued this year, totaling over 140 billion units, including nearly 10 bond funds launched by foreign public funds [5][6] Group 3 - The issuance of FOF (Fund of Funds) has significantly increased, with 16 new FOF products established in the first quarter, raising over 14 billion yuan, a substantial increase compared to the previous quarter [6] - FOF products are increasingly focusing on heavy allocations to ETFs, which are characterized by low costs, high transparency, and strong liquidity, enhancing asset diversification and risk control [6][7] - Despite the recovery in actively managed equity fund issuance, the overall volume and scale remain low, with investors still favoring diversified, low-cost index tools for market participation [7]