人民财讯9月26日电，小米法务部发文称，长期以来，部分MCN机构和网络黑水军持续发布不实言论， 恶意造谣诋毁公司，破坏清朗的网络舆论环境。为维护公司的合法权益，小米法务始终坚持依法依规推 进法律维权工作。2025年至今，小米法务已完成对16465条舆情线索的法律评估，重点监测网络账号231 个，并针对其中92个恶意侵权账号提起民事诉讼，依法追究相关侵权人的法律责任。目前，部分案件已 进入法院审理阶段，小米法务将适时公布案件进展。同时，亦关注到部分小米车主无端遭受网络攻击的 情形，小米法务已协助部分车主进行维权，目前已发起车主维权诉讼共计35件，后续小米法务将持续重 点关注此类网络侵权行为。 ...

Core Viewpoint - The company is actively pursuing legal actions against malicious online activities and false statements that harm its reputation and the online environment [1] Group 1: Legal Actions and Monitoring - Since 2025, the company’s legal department has completed legal assessments on 16,465 pieces of online sentiment data, focusing on monitoring 231 online accounts [1] - The company has filed civil lawsuits against 92 malicious infringement accounts to hold the infringers legally accountable, with some cases already in court [1] - The company has initiated a total of 35 lawsuits to assist car owners who have been unjustly attacked online, indicating a commitment to protecting its customers [1] Group 2: Commitment to Brand Protection - The company adopts a "zero tolerance" approach towards online infringement and will enhance sentiment monitoring to ensure accountability [1] - The legal department will utilize legal means to combat all forms of infringement, aiming to protect brand reputation and user reputation [1] - The company emphasizes that the online space is not lawless and that freedom of speech has its limits, urging respect for facts and rational discourse [1]

Group 1 - The Hong Kong stock market indices collectively declined, with the Hang Seng Tech Index dropping over 1%, impacting major stocks like Horizon Robotics, Xiaomi, Kingsoft, and JD Health [1] - XPeng Motors accelerated its global expansion by entering five new markets: Switzerland, Austria, Hungary, Slovenia, and Croatia, planning to launch pop-up stores in Budapest, Ljubljana, and Zagreb this fall [1] - Zhongtai Securities remains optimistic about investment opportunities in complete vehicles and intelligent driving, focusing on strong domestic brands and the robotics industry chain [1] Group 2 - Alibaba's Cloud Summit ignited bullish sentiment, with expectations for the Hang Seng Tech Index to break upward again, supported by potential Fed rate cuts and continued inflow of southbound capital [2] - Alibaba's stock price has doubled this year, making it the largest weighted stock in the Hang Seng Tech Index at 9.36% [2] - Investors without a Hong Kong Stock Connect account can access Chinese AI core assets through the Hang Seng Tech Index ETF [2]

Investment Rating - The report maintains a "Strong Buy" rating for Xiaomi Group [1] Core Views - Xiaomi has launched the Xiaomi 17 series, which includes significant upgrades across all models, aiming to compete directly with the iPhone in the high-end market [5] - The company is expanding its IoT product line with new high-end devices, including tablets, TVs, and smart home appliances, enhancing its AIoT ecosystem [5] - Xiaomi's automotive segment is gaining traction, with over 40,000 units of the YU7 model delivered and the introduction of customized services for its vehicles [5] - The report forecasts substantial revenue growth for Xiaomi, projecting total revenues of 489.9 billion, 660.3 billion, and 823.3 billion yuan for 2025, 2026, and 2027 respectively, with adjusted net profits of 43.1 billion, 63.5 billion, and 86.6 billion yuan for the same years [6][9] Summary by Sections Company Overview - Xiaomi Group is positioned as one of the top three smartphone manufacturers globally and the largest AIoT smart hardware platform [5] Financial Performance - The report provides a detailed financial forecast, estimating total revenue growth of 34% in 2025 and 35% in 2026, with net profit growth of 66% and 54% respectively [6][9] - Key financial metrics include a projected PE ratio of 35.7 for 2025, decreasing to 16.7 by 2027, indicating improving valuation over time [6][10] Product Development - The Xiaomi 17 series features three models with advanced specifications, including the Snapdragon 8 processor and significant battery capacity [5] - The introduction of high-end IoT products, such as the Xiaomi Pad 8 series and the S Pro Mini LED TV, reflects Xiaomi's strategy to enhance its product offerings [5] Automotive Segment - The automotive division is expected to grow, with the YU7 model's delivery numbers indicating strong market acceptance and the potential for further expansion through customized services [5]

Group 1 - The Vice President of Douyin stated that many so-called "Byte concept stocks" contain false information and urged caution among investors [1] - Douyin's management emphasizes the importance of rational and cautious investment principles, focusing on value and fundamentals rather than speculative hype [1] Group 2 - Chasing Technology denied rumors of "mandatory employee co-investment," clarifying that no such policy exists [2] - The company advocates for market-oriented, professional, and compliant practices in investment and management [2] Group 3 - XPeng Motors and Alibaba Cloud signed a cooperation agreement to promote post-quantum security technology in the automotive sector [3] - The collaboration aims to enhance safety algorithms in vehicles and expand applications to AI, V2X, chips, robots, and flying cars [3] - This partnership is expected to alleviate consumer concerns regarding the safety of smart vehicles and foster innovation within the automotive industry [3]

Core Insights - Xiaomi's initial positioning as a geek brand has evolved into a mainstream brand, surpassing growth expectations [1] - The company faced challenges due to rapid growth, leading to misunderstandings and biases against it [1] - Xiaomi is focusing on high-end market penetration, with a significant shift in user demographics, including nearly half of its car users being women [1] Group 1 - Xiaomi's growth trajectory has exceeded initial expectations, transitioning from a niche to a mainstream brand [1] - The company has acknowledged past challenges related to its rapid growth, which included public misunderstandings and internal shortcomings [1] - A strategic shift towards high-end products has been implemented, with a focus on appealing to high-end and female consumers [1] Group 2 - Xiaomi has developed a methodology for high-end market penetration, focusing on three key areas: technology leadership, cognitive leadership, and aesthetic leadership [1] - Regular discussions are held each quarter to assess progress, challenges, and setbacks in the high-end market strategy [1]

专题：雷军2025年度演讲：谈造芯坎坷、造车争论、赞ModelY、抢苹果用户 新浪科技讯 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雷军接 受了媒体采访。 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。" 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。" 雷军进一步表示，"很多东西如果你没有足够的研发投入，你是不可能做到。我相信这次大家从小米17 看到了无数的领先技术。以前我们全是在跟随，而今天讲的绝大部分技术都是领先时代的。所以我觉得 这是小米从互联网公司坚定的走向硬核科 ...

（文章来源：新京报） 新京报贝壳财经讯（记者陈维城）9月25日晚间，在2025雷军年度演讲上，小米集团创始人、董事长兼 CEO雷军介绍，小米YU7交付的最新进展：上市3个月，交付已超过40000辆。 ...

Core Insights - Huawei and SAIC have launched the first model of the Shangjie brand, the Shangjie H5, priced below 200,000 yuan, marking a significant entry into the family car market [2][3][4] - The HarmonyOS 5 ecosystem has shown remarkable growth, with over 17 million devices connected as of September 20, 2023, indicating strong adoption across various product categories [2][7][8] Product Launch - The Shangjie H5 is priced starting at 159,800 yuan, with the high-end version featuring Huawei's ADS 4 priced at 179,800 yuan, breaking the previous price barrier of 200,000 yuan for Huawei's smart driving family [3][4] - The vehicle received over 160,000 pre-orders, with 10,000 orders placed within the first hour of its launch [4][5] Market Strategy - Huawei's executive Yu Chengdong highlighted the challenges of producing low-cost vehicles, stating that the company has historically struggled with profitability for cars priced below 300,000 yuan [3][5] - The collaboration with SAIC is credited for achieving cost control and supply chain advantages, enabling the competitive pricing of the Shangjie H5 [3][5] Ecosystem Development - Despite slower progress in the automotive sector, the overall HarmonyOS ecosystem is rapidly expanding, with a significant increase in device adoption from 10 million to 17 million in just over 50 days [7][8] - The HarmonyOS 5 version has been designed to operate independently of Unix and Linux, enhancing its appeal and functionality [7][8] Future Prospects - Huawei aims to develop a robust developer ecosystem, with over 30,000 HarmonyOS applications currently in development, targeting a goal of 100,000 applications by 2025 [8][9] - The company has initiated the "Tiangong Plan," committing 1 billion yuan to support AI ecosystem innovation, indicating a strategic focus on enhancing the HarmonyOS platform [9][10]

【雷军：小米YU7上市3个月，交付超4万辆】 #小米YU7上市3个月交付超4万辆#】 新京报贝壳财经讯（记者陈维城）9月25日晚间，在2025雷军年度演讲上，小米集团创始人、董事长兼 CEO雷军介绍，小米YU7交付的最新进展：上市3个月，交付已超过40000辆。 ...