Core Insights - Lei Jun expressed anxiety during Xiaomi's tenth anniversary, feeling overwhelmed by competition from giants like Apple, Samsung, and Huawei, and acknowledged the fatigue within the team [1][3] - Lei Jun highlighted the internal struggles faced by Xiaomi due to online criticism and biases, which led to a period of introspection and decision-making to confront challenges head-on [3] - The introduction of new top talents to the executive team has significantly contributed to Xiaomi's development over the past few years [3] Group 1: Chip Development - Xiaomi's chip development began in 2014 with Pinecone Electronics, but after the release of the "Surge S1," the decision was made to halt SoC chip development due to challenges faced [5] - Lei Jun emphasized that self-developed SoC chips must target the high-end market to have a chance of success, and collaboration with the mobile team is essential [5] - In 2021, Xiaomi resumed chip development despite significant financial pressure, with over 10 billion yuan invested, and plans to launch the first chip, "Xuanjie O1," in May 2024 [5] Group 2: Automotive Ventures - Xiaomi initiated the SU7 Ultra project in December 2021, aiming to compete with luxury brands like Porsche and Tesla in the electric vehicle market [5] - After a challenging start, the SU7 project made significant progress by May 2022, leading to the decision to restart the Ultra project [7] - Lei Jun compared Xiaomi's YU7 model with Tesla's Model Y, acknowledging the latter's quality while promoting the YU7 as a competitive alternative [7]

25日晚间，2025雷军年度演讲举行。小米创办人、董事长兼CEO雷军发表演讲。 雷军表示，"今年是我们小米创办15周年，在15周年之际，小米在汽车、芯片领域连续两次的重大突 破，让很多人刮目相看。感觉小米好像一夜之间呢，换了一家公司。其实，这些改变都来自于5年前那 次触及灵魂深处的反思。 2020年，小米迎来了自己的十周年，那个时候的我们上市已经两年时间，年收入也突破了两千亿，成功 地跻身了世界500强的行列。在很多人眼里，小米已经非常非常成功了。但是，在我内心却充满了难以 言说的焦虑。 雷军还谈到了小米现在的12位高管："大家可以看到我们今天高管团队的名单，早期还有两位和我在继 续打拼，9位都是新面孔。我们引进外部的顶尖人才。这些同事为过去几年小米的发展做出了巨大的贡 献。也借此机会感谢卢伟冰和这些人才。" . . 4 3 微博视频号 © 微博视频号 林斌 联合国际人 国家a 刘德 慕杰加勒人 南非黑暗 卢伟冰 哈佩人 : #福 留学處 2020年 王晓版 제8884 林世伟 i g I 张剑慧 形 第9 脚 量 固 A A 1 4 i e e last 45." a d - 当时，我们所处的这个行业，苹果 ...

花旗予该股"买入"评级，原因包括法院裁决阻止美国对该股票的投资限制；公司意外获得市场份额；指 数移除的压力结束；又认为小米市场份额增长带来吸引人的风险及回报前景，应有利于市场的乐观情 绪。鉴于中国补贴驱动的需求及正常化的元件成本，花旗对智能手机业务及毛利率展望更为乐观。花旗 以2026年为基础，鉴于长期可见度稳固，使用总和估值法(SOTP)对小米每股估值为66港元。 花旗发表研报指，小米集团推出最新旗舰手机Mi 17，令人印象深刻。此外，小米汽车正式推出客制化 服务，有望进一步提升电动车平均售价/利润率。花旗认为，Mi 17规格强大、设计出色且电池容量大， 极具竞争力，有望在4千至6千元售价区间获得市场份额，较佳的产品组合可能稳定毛利率压力，接下来 的智能手机出货数据可能支持双位数增长。下一催化剂包括2025年第三季度业绩、电动车新版本发布。 ...

Core Viewpoint - Goldman Sachs published a research report indicating that Xiaomi has launched the flagship Xiaomi 17 smartphone series, which includes the 17, 17 Pro, and 17 Pro Max, while also introducing the 15T series in international markets and upgrading to HyperOS 3.0, alongside six new high-end AIoT products [1] Group 1 - Xiaomi's 17 Pro smartphone features competitive pricing and differentiated innovative functions, which may attract more consumers to upgrade from basic models and expand its consumer base [1] - The introduction of customized services for the YU7 Max and SU7 Ultra demonstrates Xiaomi's commitment to solidifying its leadership position in the high-end automotive market by making luxury service experiences more accessible [1] - Starting in 2025, all Xiaomi air conditioners sold will come with a 10-year free warranty service, including central air conditioning, indicating Xiaomi's strategy to enhance service offerings to capture market share in the Chinese air conditioning sector [1] Group 2 - Goldman Sachs has moderately raised Xiaomi's 12-month SOTP-based target price from HKD 65 to HKD 66, maintaining a "Buy" rating [1]

Group 1 - The Xiaomi 17 Pro series introduces a back screen design that enhances recognition and allows for personal expression [1] - This new design approach differentiates the series from previous industry practices, moving away from merely labeling models as "Ultra" with reduced features [1] - The back screen not only improves the device's visibility but also provides emotional value to users, enabling them to showcase their individuality [1]

【CNMO科技消息】近日，一起由AI图片恶搞引发的网络事件引发广泛关注。据CNMO了解，有网友 在微博评论区发布经过AI篡改的雷军年度演讲宣传图，将演讲主题"改变"恶意修改为"改便"，并在雷军 周围添加坐姿猴子图像。该行为迅速被其他网友发现并@小米法务部 进行处理。 这起事件并非个别现象。据公开报道，雷军近年来持续遭受AI仿冒视频困扰，其"AI分身"在短视频平台 一度泛滥成灾，甚至有人利用其形象进行不当牟利。小米公司对此类侵权行为采取零容忍态度，2025年 法务部已对数百个侵权账号进行取证，并发起数十起诉讼。 雷军 值得注意的是，此次年度演讲本身备受关注，相关话题在社交媒体阅读量超百亿。雷军在演讲中坦言曾 面临大量网络质疑和批评，但强调通过直面问题找到破局道路的决心。 事件发生后，涉事网友于9月25日公开发布道歉声明，承认在车评人微博下的不当行为，表示对小米公 司品牌声誉和创始人雷军个人形象造成不良影响深感歉意，并强调"网络不是法外之地，一言一行都需 守法"，保证"不会再有此类的不当行为。" CNMO认为，随着AI技术普及，网络内容创作需严守法律底线。企业名人和品牌形象的合法权益受到 法律保护，任何恶意篡改、 ...

新浪科技讯 9月25日晚间消息，小米集团董事长、CEO雷军在与新浪科技等媒体沟通中透露，小米手机 部的研发部有10000多人，公司其实在硬核技术研发投入上下了很大的功夫，但过去公司对这些部分介 绍的很少。 据雷军介绍，5年前小米就提出了要转型智能制造、转型硬核科技公司，但因为之前这些都在保密状 态，大家没有太多感知，而在小米17把过去几年的东西全部放出来的时候，大家就会觉得产品力炸裂。 来源：新浪网 "大家一下觉得小米怎么这么厉害，其实在我们内部都做了5年10年时间了。"雷军表示，这几年自己对 整个中国的工业越来越有信心了，我们早期都在应用层、场景层创新，但今天越来越多的东西是在材料 级和核心零部件级的创新。 ...

Group 1 - The A-share market is recovering, leading to significant profits for fund investors, with 2.15 billion fund investors on the Ant Fund platform achieving cumulative profits [1] - Institutional investors have notably increased their holdings in active equity funds, with a rise of 54.1 billion yuan in asset scale and an increase of 27.1 billion fund shares by the end of the first half of the year [1] - West China Fund confirmed that a fund manager was caught gambling and has been dismissed from their position following administrative penalties [1] Group 2 - The China Coking Industry Association recommends a 30% production cut across the coking industry to maintain reasonable profit levels and healthy development [2] - Coking prices are set to increase, with specific price adjustments for various types of coke effective from September 26 [2] Group 3 - The global average selling price (ASP) of smartphones is projected to rise from $370 in 2025 to $412 in 2029, driven by high-end trends and the adoption of 5G technology [3] Group 4 - The Robotaxi sector is experiencing a surge in stock prices, with leading companies like Pony.ai and Baidu seeing significant increases in their stock values due to accelerated commercial applications [4] - The cobalt market is tightening due to export bans from the Democratic Republic of Congo, leading to a nearly 40% increase in cobalt prices this year [4] Group 5 - Starbucks plans to close underperforming stores in North America, reducing the number of company-operated stores by approximately 1% by fiscal year 2025, while also cutting about 900 non-retail positions to invest in store operations [5] Group 6 - ByteDance has denied rumors of preparing for an IPO in Hong Kong, urging caution against misinformation regarding "Byte concept stocks" [6] Group 7 - Shanghai Forever Bicycle Company has stated that products like "Forever Rabbit" are not associated with the company and will pursue legal action against unauthorized use of its trademark [7] Group 8 - Horizon Robotics plans to raise approximately 6.339 billion HKD through a share placement to expand its overseas market and support advanced driver assistance solutions [9] Group 9 - Dragon Big Food announced that 0.70% of shares held by its controlling shareholder are under judicial freeze, but this will not affect the company's operations or governance [10] Group 10 - Zhaochi Co. has completed the R&D design of its 1.6T OSFP DR8 optical module, with plans to launch samples by the end of 2025 [11] - Jingchen Co. has submitted an application for H-share listing on the Hong Kong Stock Exchange [12]

他谈到，2019年小米全年的研发费用75亿，这个情况下要投1000亿是很大的数字，"但是不 管风吹雨打，我们坚定的完成了这笔投资，大概投了1020亿~1050亿。我们新5年的规划是 2000亿的研发投入。所以大家今天看到的变化，其实这背后就有海量研发投入的结果。" 来 源：橙柿互动·都市快报、新浪科技、新浪财经 9月25日晚间，2025雷军年度演讲活动结束后，小米集团董事长、CEO雷军接受了媒体的采 访。 对于网络上有针对小米车主的不友好声音，甚至有小米车主被极端攻击，雷军回应： 小米汽车 发布后成为全网被黑最惨的车企之一，这次六部委打击黑水军、黑公关，我们举双手支持。 在 这一点上，小米汽车是受害者。我们希望全社会呼吁打击黑水军、黑公关，是他们让产业发展 遇到了很多困难。 雷军谈到过去五年小米经历了艰难转身，"大家的很多批评，我们自己也无比焦虑，所以在一个 内外的压力下，开始重新思考何去何从，并进行改变。" 他表示，"我们充分意识到要从互联网公司坚定走向智能制造的新战场，要转型成硬核的科技公 司。互联网公司是机会驱动的，科技公司是使命驱动的。所以我们坚持技术立业，一上来就制 定了5年投1000亿的计划。" ...

【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 他还表示，在手机汽车取得经验后，小米今天在推全品类高端化。过去小米的确走的有点快，今天我们 要求把设计质量全方位拿起来，认真的把各个品类做好。"我坚信，我们还会在更多领域突破，小米也 一直在持续学习提高之中。" 新浪讯 9月25日晚间消息，在今日的2025雷军年度演讲活动结束后，小米集团董事长、CEO雷军与媒体 对话。 雷军表示，小米15年前创办时的使命就是始终坚持做感动人心、价格厚道的好产品，让全球每个人都能 享受科技带来的美好生活。简单来说，就是科技平权。"5年前，我们发现智能手机已经普及了，所以经 过反思后，坚定提出了高端化战略，全面对标苹果进入高端领域。" 他表示，这5年小米在手机高端化下了很大功夫，做汽车也坚定做高端车。第二季度财报，小米汽车的 含税均价28.9万，今天小米汽车这么大的量其实已经在高端区间里。"我越来越坚信，只要下功夫投入 技术研发 ...