对于公众质疑的小字营销，徐洁云表示，长久以来在宣传物料，比如说海报也好、PPT也好，上面加上 小字做标注、做提示，确实这行业常见的惯例，小米之前更多的考虑是法律合规，因为要符合广告法， 确实当中有一部分是忽略了大家的，以至于出现这样一种结果。 1月3日晚，小米CEO雷军举行了新年直播，直播中他与小米集团公关部总经理徐洁云、小米汽车副总裁 李肖爽回应了近半年对小米汽车的几乎所有负面质疑。 雷军表示，小字确实是行业陋习，在这一点上小米从现在做起，立刻马上就改，这个毛病确实要改，但 是如果把合规的一些做法也是虚假营销或者过度营销的话，这是对小米天大的误解。 "有些内容比如说之前大家都批评过的逆光之王这样的，他加了小字之后确实合规了。看上去的确有点 像在吹牛，但是把用来合规的小字去推演成把它硬要说成是小米在虚假宣传，这可能是个天大的误解。 举个例子，小米17Pro系列发布的时候，我们的逆光表现的确是非常棒。" 徐洁云称，大家的批评听到了，也接受，所以从11月份开始，内部拉通了很多团队，大家达成了坚定的 共识，要求所有的小米的团队在说明注解当中都要尽量使用大字。要大大方方的展示出来，让用户能够 看得清。 ...

1月3日晚，小米CEO雷军举行了新年直播，直播中他与小米集团公关部总经理徐洁云、小米汽车副总裁 李肖爽回应了近半年对小米汽车的几乎所有负面质疑。 关于"绿化带战神" 徐洁云表示，就是有人在刻意收集这些视频，再加上恶意的剪辑，然后贴上"绿化带战神"这几个字的标 签，到处在推，这就是带节奏贴标签的过程。 让其感到愤慨的是，小米的车主收到了很多莫名其妙的账号的人身攻击，车主提了车，在社交媒体上做 一段分享，这本来是件特别好的事，但是评论区就碰到各种各样特别恶意的人身攻击，这让人真的非常 非常愤怒，针对这种非常典型的贴标签恶意攻击的水军行为，坚定的会和车主站在一起。 徐洁云还拿烟台警方最近破获的水军案举例，12个人控制8000多个账号。 雷军表示有时候在留言区、在直播间、在短视频平台上看到成千上万条信息，在骂小米、黑小米的时 候，那实际上背后就是几千人。 雷军认为骂小米确实有流量，但是一定要客观，不要故意抹黑，故意地断章取义，不要这样干，这样干 是违法行为。 "我们非常关注真实用户的声音，只要大家说的对的，我们都会认真的倾听，然后对于那些造谣抹黑的 攻击小米车主的行为，我们也绝对不会姑息，这个不仅仅是为了小米的声誉， ...

Group 1 - The core viewpoint of the articles highlights the robust growth and transformation of China's consumer market since 2025, driven by consumption policies and technological innovations, emphasizing the shift towards high-quality, intelligent, and emotional consumption [1][2][6] - The retail sales of consumer goods in China increased by 4% year-on-year from January to November 2025, indicating a shift from scale expansion to value growth centered on quality upgrades [2] - Key technological breakthroughs, such as Xiaomi's launch of its 3nm flagship processor and the Xiaomi 17 Ultra smartphone, have significantly contributed to the high-end consumer electronics market, showcasing the role of innovation in stimulating consumption [2] Group 2 - The emotional economy is emerging as a new growth area in consumption, with the market size expected to reach 2.3 trillion yuan in 2024 and surpass 4.5 trillion yuan by 2029, reflecting a shift in consumer motivations from functional satisfaction to emotional resonance [4] - New consumption formats, including digital, green, and health consumption, are becoming increasingly active, with the new energy vehicle market showing significant growth, where new energy vehicles accounted for 53.2% of total new car sales by November 2025 [5] - The integration of ecosystems, such as Xiaomi's smart factories and automotive strategies, is reshaping consumer experiences, moving from single product purchases to integrated, scenario-based services [5][8]

Core Insights - Xiaomi is facing challenges in the market, with its stock under pressure from short-selling despite strong financial performance [2] - The company reported a significant increase in revenue and profit for Q3, indicating sustained high growth [3][4] - Xiaomi's strategy to target the high-end market is showing results, with increased market share in premium segments [6][7] Financial Performance - For Q3, Xiaomi achieved revenue of 113.1 billion RMB, a year-on-year increase of 22.3%, and a net profit of 11.3 billion RMB, up 80.9% [3] - The overall gross profit for the quarter was 25.9 billion RMB, with a gross margin of 22.9% [3] - The smartphone and AIoT segments contributed significantly to revenue, with the smartphone segment generating 46 billion RMB [4][6] Business Segments - Xiaomi's automotive and AI innovation business reported a revenue increase of over 199% year-on-year, achieving a quarterly operating profit of 700 million RMB [8][11] - The smartphone segment has seen a continuous increase in shipment volume, maintaining a position among the top three globally for 21 consecutive quarters [4][7] - The IoT and lifestyle products segment also showed growth, with revenue reaching 27.6 billion RMB, a 5.6% increase [8] Market Position and Strategy - Xiaomi's market share in the high-end smartphone segment (priced 4000-6000 RMB) reached 18.9%, an increase of 5.6 percentage points year-on-year [6] - The company aims to penetrate the ultra-high-end market (above 6000 RMB) as part of its high-end strategy [6][7] - Xiaomi's AIoT platform has connected over 1 billion devices, indicating strong ecosystem growth [8][12] Future Outlook - Xiaomi plans to expand its home appliance business overseas, with successful entries into Southeast Asia and Europe [13][15] - The company aims to establish a global retail network with plans for 10,000 stores in the next five years [15] - Xiaomi's automotive business is expected to grow, with plans to enter international markets by 2027 [15]

Core Viewpoint - Xiaomi currently has no plans to reduce orders, indicating a positive outlook for product demand and sales growth [1] Group 1 - Xiaomi has introduced a new version of the Xiaomi 17 standard model with 16GB RAM and 1TB storage, which contributes to an increase in overall product orders compared to the previous generation [1] - The company is experiencing a shift in product structure due to increased orders for the Xiaomi 17 Pro series, suggesting a strategic focus on higher-end products [1] - Xiaomi expresses gratitude for user support in its high-end product offerings and encourages customers to visit stores to see the new models during the National Day holiday [1]

Core Viewpoint - Xiaomi Group's public relations manager Wang Hua stated that there are currently no plans to reduce orders, indicating a positive outlook for product demand and production levels [1] Group 1 - The introduction of the Xiaomi 17 standard version with a 16GB+1TB configuration is expected to increase overall product orders compared to the previous generation [1] - The addition of orders for the 17 Pro series will lead to a change in the product structure and distribution [1]

Core Viewpoint - The return of the back screen in the smartphone market, particularly as a key feature of the Xiaomi 17 Pro series, is unexpected and indicates Xiaomi's strong expectations for this technology [1][3]. Group 1: Back Screen Technology - Xiaomi has invested significant resources into the "Miao Xiang Back Screen" feature, with development and manufacturing costs reaching 1 billion yuan, making it challenging for other brands to follow suit [3]. - The back screen is not a new concept in the smartphone market, as it was first introduced by Meizu in 2017 with the "Intelligent Window" design [5]. - Previous attempts by various manufacturers, including Meizu and Xiaomi, to implement back screens were not successful, leading to a decline in interest in this feature [5][7]. Group 2: Market Position and Differentiation - The functionalities offered by the back screen in the Xiaomi 17 Pro series, such as personalized wallpapers and notifications, could also be effectively managed by the main screen, raising questions about the necessity of the back screen [5][7]. - The introduction of the back screen may be more about creating product differentiation rather than addressing high-frequency user needs or efficiency improvements [7]. - While the back screen provides some unique features for the Xiaomi 17 Pro, it is unlikely to achieve the same level of innovation and market impact as Apple's Dynamic Island, which effectively addressed user interaction challenges [10]. Group 3: Future Outlook - There are concerns that the back screen design may not achieve lasting success and could become a fleeting trend, similar to the previous back screen attempts by Xiaomi [11]. - Xiaomi's software director has assured users that the back screen will not be removed in future iterations, indicating a commitment to this feature [11]. - The market's acceptance of the Xiaomi 17 Pro series will ultimately determine the success of the back screen, with the product being perceived as having good value for money due to its strong battery life and imaging capabilities [11].

Core Viewpoint - Xiaomi Group launched the Xiaomi 17 Pro flagship series, featuring the fifth-generation Qualcomm Snapdragon 8 Gen 2 chip, manufactured using TSMC's 3nm process technology [2] Group 1: Product Launch - The Xiaomi 17 Pro series is equipped with the latest Snapdragon 8 Gen 2 chip [2] - The chip is produced using TSMC's advanced 3nm process technology [2] Group 2: Strategic Partnerships - Qualcomm announced ongoing collaboration with downstream mobile OEMs, including a long-term agreement with Xiaomi for the supply of Snapdragon 8 series chips for multiple generations of high-end mobile products [2] Group 3: Company Insights - Lei Jun reflected on the reasons behind the failure of the Pinecone chip and indicated that the Xuanjie chip still has a long way to go before achieving success [2]

Core Insights - Lei Jun's annual speech highlighted Xiaomi's significant breakthroughs in the automotive and semiconductor sectors, marking a transformative phase for the company as it celebrates its 15th anniversary [3][4] - The company aims to invest heavily in core technologies, particularly in self-developed chips, committing at least 500 billion yuan over the next decade [4][6] - Xiaomi's automotive division is experiencing rapid growth, with plans to optimize vehicle delivery cycles significantly, potentially reducing wait times by up to two months [22][23] Group 1: Company Developments - Xiaomi has launched its self-developed chip "Xuanjie O1," which utilizes advanced 3nm technology and features 190 billion transistors, making Xiaomi the fourth company globally to develop its own mobile SoC [6] - The company is actively recruiting top talent, with a significant portion of its current executive team being new hires, indicating a strategic shift towards innovation and expertise [7][20] - Xiaomi's automotive sales have surged, with the company achieving a delivery volume of 36,500 units in the previous month, positioning it as a strong competitor in the electric vehicle market [22][23] Group 2: Market Position and Strategy - Xiaomi's strategy to enter the automotive market is driven by a team of passionate engineers eager to make a significant impact, which has contributed to the company's rapid progress [8][10] - The company is focusing on high-end products, with Lei Jun stating that success in the high-end market is crucial for the future of its chip development [6][10] - Xiaomi's recent financial performance shows a record revenue of 115.96 billion yuan for Q2 2025, reflecting a 30.5% year-on-year growth, alongside a net profit increase of 75.4% [23]