小米集團（01810）股價近期在基本面壓力和市場資金博弈下，呈現出典型的橫盤震盪格局。根據截至12月12日的數據，股價收報43.14元，升2.32%，成交 額為25.54億元。 技術分析與關鍵價位 從技術面觀察，小米股價目前處於一個方向未明的階段。股價圍繞短期均線波動，最新價與10天線（41.48元）及30天線（41.59元）大致持平，但低於60天 線（46.63元），顯示長期趨勢仍面臨一定壓力。技術指標總結信號為「中立」，強度為8，多個震盪指標亦呈現中立狀態，反映出市場缺乏明確的短期方 向。不過，部分動量指標如CCI及動量震盪指標給出了買入信號，這或許為反彈提供了一些技術上的支撐。同時，RSI處於50的中性，符合當前的震盪市 況。 關鍵的價格區間為投資者劃定了清晰的短線交易框架。下方，第一支持位位於40元，第二支持位則在38.5元。上方阻力方面，43.7元（阻力1）和45.8元（阻 力2）構成關鍵壓力區域。整體上升概率為53%，與技術指標的中立信號吻合，表明股價短期內更可能在上述支持與阻力構成的區間內（大致在38.5元至43.7 元）繼續整固，以等待新的催化劑出現。 窩輪產品回顧：槓桿效應的雙刃劍 近期小米 ...

Core Viewpoint - Xiaomi's stock price is currently experiencing volatility, with technical indicators suggesting a potential short-term rebound despite being in an oversold condition [1][12]. Technical Analysis - As of August 13, 2025, Xiaomi's stock price is at 52.5 HKD, showing a 1.55% increase. The RSI indicator is at 31, indicating an oversold condition. The stock price has fallen below the 10-day moving average (52.98 HKD) and the 30-day moving average (56.02 HKD), but is supported near the 60-day moving average (54.97 HKD) [1]. - The William and stochastic indicators are signaling a buy, contrasting with the MACD sell signal, suggesting a possible technical rebound in the short term [1]. - Key support levels are identified at 49.7 HKD and 46.4 HKD, while resistance levels are at 54.5 HKD and 57 HKD. A significant market volatility is indicated by an 8% fluctuation over five days [3]. Market Sentiment - Recent trading activity shows a capital inflow of 35 million HKD into Xiaomi's call options over the past five trading days, indicating investor interest in capitalizing on potential rebounds [1]. - The stock has seen fluctuations, with a recent low of 50.1 HKD and a previous high of over 60 HKD, reflecting investor concerns amid competitive pressures in the automotive sector [1]. Derivative Products Performance - Recent recommendations for derivative products have shown strong performance, with certain bull certificates experiencing gains of 30% and 24% in a short period, demonstrating the effectiveness of leveraged products in a rebound scenario [5]. - New recommendations for call options include HSBC's call option with a strike price of 60.65 HKD and a leverage of 7.2 times, suitable for speculative rebound plays [8]. Investment Strategy - Investors are advised to monitor the support level at 49.7 HKD closely. If this level holds, there may be opportunities for gradual accumulation [3]. - For bearish investors, options with lower strike prices and higher leverage are available, providing hedging opportunities against potential declines [8][10].

Group 1: Company Insights - The report recommends buying Leap Motor (9863) with a target price of 63.00 HKD, indicating a potential upside of 14.5% from the current price of 57.70 HKD [7][9] - Leap Motor's Q1 2025 performance met market expectations, with revenue increasing 1.87 times year-on-year to 10.02 billion RMB, and a significant reduction in losses to 130 million RMB, benefiting from economies of scale and strategic partnerships [9] - The company has set a sales target of 550,000 units for FY25E, representing an annual growth of 87%, with 173,000 units delivered in the first five months of 2025, which is 30% of the annual target [9] Group 2: Industry Trends - The Chinese automotive industry is expected to see a reduction in price wars as the China Automobile Association and the Ministry of Industry and Information Technology support fair competition and healthy development [9] - The report highlights the strategic partnerships formed by Leap Motor with Stellantis and China FAW Group, which are seen as catalysts for future growth and stock price appreciation [9] - The report notes that the market anticipates a compound annual growth rate (CAGR) of 49% for Leap Motor's revenue from FY24 to FY27, with the current price corresponding to a forecasted price-to-sales ratio of 1.2x for FY25E, slightly below its historical average [9]