导语：为什么说雷军心中的那团火，还未曾熄灭？我们一起探讨。 本期音频由科大讯飞提供的变声技术支持 5月27日，小米发布了2025年一季度财报。 财报显示，2025年一季度，小米集团实现营业收入为1113亿元，同比增长47.4%；经调整净利润为107亿元，同比增长64.5%。 不管是收入，还是盈利，小米都再次创下历史新高。 雷军也很兴奋，在微博发文称："第一季度收入同比增长47.4%；第二次单季收入过千亿。感谢朋友们支持！" 又一次，小米创造了奇迹，业绩表现远超市场预期。 事实上，这段时间，雷军和小米正被推到了风口浪尖上。 原因也不难猜：先是小米SU7高速车祸引发舆论风暴；紧接着，又有私自限制马力和或许涉及虚假宣传的挖孔前舱盖导致大量用户退车。 雷军本人也被架在舆论的火上烤，备受煎熬。 他自己也说，过去一个多月，是他创业以来最为艰难的一段时间。情绪比较的低落，取消了出差和社交媒体的互动。 曾经的雷军和小米，被无数人追捧，而今却深陷舆论漩涡，一举一动备受公众质疑。 也一直有人问我：怎么看待这件事？我其实有很多话想说，可是不能说，因为一旦说出来，必然会有人过度解读，然后不分青红皂白地骂人。 不过，我今天确实是有一些 ...

点击上图 ▲立即加入 前4月国企利润同比下降1.7% 小米一季度收入及净利润创新高 5月27日，小米集团公布2025年一季度财报。财报显示，小米集团总收入为人民币1113亿元，创历史新高，同比增长47.4%。经调整净利润为人 民币107亿元，创历史新高，同比增长64.5%。分业务来看，手机×AIoT分部收入为人民币927亿元，同比增长22.8%。该分部毛利率为22.8%， 同比提升0.5%。智能电动汽车及AI等创新业务分部收入为人民币186亿元。其中，智能电动汽车收入人民币181亿元，其他相关业务收入人民币 5亿元。本季度，该分部毛利率为23.2%。 5月28日消息，财政部公布2025年1-4月全国国有及国有控股企业经济运行情况。数据显示，1—4月，国有企业营业总收入262755.0亿元，与上 年持平。利润总额方面，1—4月，国有企业利润总额13491.4亿元，同比下降1.7%。此外，1—4月，国有企业应交税费20380.0亿元，同比增长 0.1%。 4月末，国有企业资产负债率65.1%，同比上升0.2个百分点。 5月26日，国资委党委召开扩大会议强调，要巩固提升传统产业，促进现代服务业与先进制造业深度融合， ...

关注 「电动车公社」 和我们一起重新思考汽车 《今日新闻》将会每天给大家带来几条当日重磅新闻，并附上社长的简单评论。关注「电动车公社」，新能源圈大事小事 看我们就够啦～ 今日新闻要点： 1、 新款小鹏MONA M03上市 售价11.98-13.98万元 5月28日，新款小 鹏MONA M03 上市。新车 共推出4款车型，售价11.98-13.98万元 。 外观上，新车延续了现款车型的设计风格，新增了星暮紫、微月灰、星雨青3款漆面颜色，以及全新的18英寸和19英寸轮圈。此外，M03 Max还将在外后视 镜处提供AI辅助驾驶小蓝灯。 新款小鹏MONA M03上市，售价11.98-13.98万元； 吉利雷达金刚EM-P&地平线EM-P上市，售价13.98-15.98万元； 新款宝骏悦也Plus上市，售价7.68-10.58万元； 新款捷途山海T1上市，售价13.49-17.99万元； 小米发布2025一季度财报，净利润首次突破百亿； 3、 吉利雷达金刚EM-P&地平线EM-P上市 售价13.98-15.98万元 5月28日，吉利汽车旗下两款皮卡车型——雷达金刚EM-P和雷达地平线EM-P上市，售价13.98-15. ...

25Q1营收持续超千亿，经调整净利润首次突破百亿。 25Q1公司总营收1113亿元，同比+47.4%/环比+2.1%，连续两个季度超千亿；毛利率 22.8%，同比+0.5pct/环比+2.2pct创历史新高；经调整净利润106.8亿元，同比+64.5%/环比+28.4%，首次突破百亿大关，其中智能电动汽车 及AI等创新业务亏损5亿元。公司稳步执行"新十年目标"，大规模投入底层核心技术，25Q1研发支出67亿元，同比+30.1%。截至25Q1末公司研 发人员2.17万人创历史新高，占员工总数47.7%；获得专利超4.3万件；4月推出XiaomiMiMo开源大模型，推理能力显著提升；5月正式发布自研 芯片玄戒O1、玄戒T1，开启硬核科技新起点。 手机：25Q1国内市场表现亮眼，高端化成效显著。 25Q1公司手机业务营收506亿元，同比+8.9%/环比-1.4%；毛利率12.4%，同比-2.4pct/环 比+0.4pct。25Q1公司智能手机出货量41.8百万部，同比+3%/环比-2%，持续7个季度同比增长，全球排名稳居前三，环比下降主要系印度等境 外市场需求疲软所致，部分被国内市场出货增长抵消；ASP同比+5.8 ...

Core Viewpoint - The iPhone's design has remained largely unchanged for the past five years, leading to user fatigue and extended upgrade cycles, but significant changes are expected in the upcoming models [1][5][21]. Design Evolution - The iPhone has undergone four major design iterations since its launch, with the last significant change occurring with the iPhone X in 2017. Since then, the design has become more conservative, maintaining similar aesthetics across models [3][5]. - The introduction of the iPhone 14's Dynamic Island was one of the few notable changes, while the overall design has remained consistent, leading to a perception of sameness among users [1][5]. Upcoming Changes - Future iPhone models are expected to feature significant design changes, including a new camera layout and the introduction of under-display technology for Face ID and front cameras [10][11]. - The iPhone 17 series will see a major redesign in the rear camera module and materials, while the iPhone 18 series will introduce under-display Face ID and a lighter design [13][15]. - The iPhone 19 series is anticipated to achieve a true full-screen design, eliminating any visible camera cutouts, with advancements in display technology [17][19]. Market Competition - Competitors like Huawei, Samsung, and Xiaomi are also expected to innovate, potentially launching thinner designs and true full-screen devices ahead of Apple, which could impact market dynamics [20].

Core Viewpoint - The company, now known as Starry Meizu, aims to expand its market presence both domestically and internationally by launching affordable AI smartphones and smart devices, while facing intense competition from established brands in the global market [1][3][4]. Group 1: Product Launches and Pricing Strategy - Starry Meizu recently released a series of products, including the Note 16 series smartphone priced at approximately 594.15 yuan, marking its return to the budget smartphone segment [1][3]. - The company also held an overseas product launch, introducing five new smartphone models and smart devices, with prices ranging from 79 to 399 USD [3][4]. - The strategy includes targeting the mid-range and entry-level markets to promote "AI equality" by making AI features accessible at lower price points [11]. Group 2: Market Position and Competition - Starry Meizu's overseas sales accounted for over 20% of total sales last year, with a target of 50% for this year and 70% in the long term [3][4]. - The global smartphone market remains highly competitive, with Samsung and Apple leading in market share, followed by Xiaomi, OPPO, and vivo [3][4]. - The company faces challenges in differentiating its products and establishing brand recognition in a crowded market [4][5]. Group 3: Technological Challenges and Development - The company has adopted "All in AI" as its main development strategy, focusing on building an AI ecosystem with its Flyme AIOS platform [4][11]. - There are significant challenges in AI technology development, requiring substantial investment and top-tier talent, which the company may lack compared to leading tech firms [4][5]. - The AI features in its smartphones have been criticized for lacking innovation and merely replicating existing functionalities from competitors [5][11]. Group 4: Future Prospects and Market Trends - The AR smart glasses market is growing, with Starry Meizu aiming to position itself among the top players, although competition is fierce from both established tech giants and emerging companies [7][12]. - The company is also venturing into the automotive sector with its Z10 STARBUFF model, targeting the gaming community, but has yet to achieve significant sales [13][14]. - The overall market for AI and AR devices is expected to continue evolving, with price reductions and technological advancements driving consumer interest [12][13].

访问36氪出海网站letschuhai.com，获取更多全球商业相关资讯。 近日，美团、小米、快手、拼多多等多家头部公司发布一季度财报。 在出海领域，这几家公司同样也走在前列，横跨即时配送、智能硬件、AI、跨境电商等出海重点领域，其业绩表现与策略也反应了相关行业的最新变化与 趋势。 美团：海外，另一个百亿战场 | 指标 | | 2025年Q1 2024年Q1 同比变化 | 2024年Q4 环比变化 | | | --- | --- | --- | --- | --- | | 新业务收入 | 222亿元 | 187亿元 19.20% | 229亿元 | -3.00% | | 新业务经营亏损 23亿元 | | 28亿元 | 收窄17.5% 22亿元 | 亏损扩大4.5% | | 经营亏损率 | 10.20% | 14.80% 改善4.6% | 9.50% | 增加0.7% | 智能手机出货量由2024年第四季度的42.7百万部减少2.0%至2025年第一季度的41.8百万部，主要由于印度等境外市场需求疲软导致出货量减少，但部分被中 国大陆出货量增加所抵消。 新兴市场中，非洲正成为手机品牌的争夺焦点之一，小米等品牌对 ...

港股打新赚钱效应回升 上市首日破发率创9年新低 港股打新市场赚钱效应显著回升。2025年港股IPO的27家公司中仅有7家首日破发，破发率为25.93%， 达到2017年以来低点。映恩生物和蜜雪集团等新股表现亮眼，上市首日分别上涨116.7%和43.21%。港 股整体估值低位吸引海外资本回流，中国支持创新和资本市场，港交所利好措施推动企业赴港上市意愿 增强。(人民财讯) 浮费基金销售两日 银行渠道合计销售约11亿 首批浮费基金销售进入第二日，来自渠道数据显示，首批浮费基金在托管行销售规模达11亿元。其中， 浦发银行销售依然领先，代销东方红资管、天弘基金以及交银施罗德基金浮费基金合计近7亿元，中国 银行以超3亿元次之，代销易方达基金、嘉实基金浮费基金均超1亿元。（智通财经） TrendForce：预计2025年第三季度DRAM整体价格涨幅减缓 根据TrendForce最新的内存现货价格趋势报告，DRAM方面，DDR5价格已出现放缓迹象，预计2025年 第三季度DRAM整体价格涨幅将有所减缓。NAND闪存方面，现货价格自2月下旬以来上涨，目前已达 到相对高位，购买动能正在降温。 IDC：2024年中国企业级固态硬盘 ...

高盛在28日发布的研报中表示，接下来，投资者需重点关注小米6月3日投资者日活动、6.18购物节GMV数据和可能的6月底新产品发布会。 而大摩则在27日发布的研报中认为，定于2025年7月推出的YU7电动车有望成为推动股价上涨的重要催化剂。如果销量表现强劲，将有助于小米实 现更高的平均售价、更好的毛利率和持续的盈利增长。 相比之下，"6.18"购物节期间智能手机和AIoT业务的表现虽然也值得关注，但重要性不及YU7电动车的推出。 28日，小米公布了创历史纪录的2025年第一季度业绩，调整后净利润达106.76亿元人民币，同比增长64%，环比增长28%。 电动车业务稳步推进，YU7成为关键催化剂 28日，小米公布了创历史纪录的2025年第一季度业绩。 其中，小米Q1电动车业务收入186亿元人民币，环比增长12%，略低于预期2%。电动车毛利率达到23.2%，环比提升2.7个百分点，显示该业务盈 利能力持续改善。 高盛指出，未来一个多月内，将有多个事件成为推升小米股价上涨的关键因素： 而大摩则认为，定于2025年7月推出的第二款电动车YU7将是小米今年最重要的催化剂。作为SUV车型，YU7的平均售价预计将高于现有的S ...

Core Insights - SpaceX CEO Elon Musk is in a competitive dispute with Apple over satellite connectivity features for the iPhone 14 [1][3] - Musk proposed a $5 billion upfront payment and an 18-month exclusive partnership for SpaceX to provide satellite services, followed by annual payments of $1 billion [1] - Apple ultimately rejected Musk's proposal, leading to further tensions between the two companies [3] Group 1: Competitive Dynamics - Musk threatened to announce a competing satellite feature for the iPhone if Apple did not agree to the partnership within 72 hours [3] - SpaceX filed a lawsuit against Globalstar, questioning its spectrum resource allocation, which could significantly impact Apple's satellite service [3] - SpaceX opposed Globalstar's application to launch new satellites in 2023, accusing it of not effectively utilizing existing resources [3] Group 2: Tensions and Strategic Moves - The ongoing friction over satellite functionality has intensified the relationship strain between Apple and Musk, who have previously disagreed over App Store revenue sharing [4] - Musk has considered developing a Tesla phone that would integrate Starlink services to bypass Apple's control over the smartphone market [4] - Recent disagreements arose over the promotion of satellite messaging services, with Musk wanting broader support for more iPhone models, while Apple limited it to the iPhone 14 and newer [3]