Core Insights - Xiaomi achieved a record-breaking total payment amount of over 35.5 billion yuan during the 2025 618 shopping festival, marking a new high [1] Group 1: Sales Performance - Xiaomi's flagship models dominated sales across various price segments, with the Xiaomi 15 Ultra leading in the 6000-8000 yuan range and the Xiaomi 15 securing the top spot in the 4000-5999 yuan range [2] - The REDMI K80 maintained its strong performance, winning the sales championship in the 2000-2999 yuan segment across multiple platforms [2] - Other models like REDMI K80 Pro, REDMI Turbo 4 Pro, REDMI Note 14 Pro, REDMI Note 13 5G, and REDMI 14C also achieved top sales positions in their respective price brackets [2] Group 2: Ecosystem and Product Categories - Xiaomi's success during the 618 festival was attributed to its "people, vehicles, and home ecosystem," which demonstrated strong momentum and significant synergy [3] - In various product categories, Xiaomi secured 158 first-place rankings, including in monitors, smart speakers, water purifiers, humidifiers, and dishwashers [3] - The Xiaomi Pad 7 Ultra led in the high-end tablet segment, while the Xiaomi Band 9 Pro and REDMI Watch 5 topped the sales charts in their respective wearable categories [3] Group 3: Service Upgrades - Xiaomi's service offerings saw significant enhancements, with a 38% year-on-year increase in on-site installation services and a 192% growth in integrated delivery and installation services [3] - The range of services expanded to 12 categories, and the number of stores supporting IP68 protection increased to 500 [3]

Investment Rating - The report assigns an "Accumulate" rating to Xiaomi Group [1][9]. Core Insights - Xiaomi's FY25Q1 revenue reached 111.3 billion RMB, marking a 47.7% year-on-year increase, with adjusted net profit surpassing 10.7 billion RMB, a 64.5% growth [3][7]. - The company has launched its self-developed 3nm mobile SoC chip, Xuanjie O1, and plans to invest 200 billion RMB in R&D over the next five years [7][9]. - Xiaomi's smartphone revenue in FY25Q1 was 50.6 billion RMB, up 8.9% year-on-year, regaining the top market share in mainland China at 18.8% [7][9]. Financial Summary - Revenue projections for FY2025E-FY2027E are adjusted to 483.5 billion, 602.3 billion, and 715.9 billion RMB respectively, with adjusted net profit forecasts of 42.2 billion, 55.2 billion, and 68.6 billion RMB [3][9]. - The company reported a gross profit of 25.4 billion RMB in FY25Q1, with a gross profit margin of 22.8% [10]. - The adjusted PE ratio for FY2025 is projected at 28.7, reflecting a premium valuation due to Xiaomi's hardware synergy and AI positioning [9][14].

据介绍，本次展览占地面积达到1000m²，现场分为车展区、影展区、智能家居生活展区和国补互动区 域。其中，智能家居生活展区为三室两厅的大平层，涵盖客厅、厨房、工作室、健身区、阅读角等五大 科技生活场景，每个区域都全部配备了小米科技产品。借助这样的线下"人车家全生态"展厅，能够真实 直观感受到出行、居家生活、健身娱乐、厨房角落等具体场景，让消费者更好选购心仪的产品。 根据小米最新发布的 2025 年一季度财报，小米全球智能手机出货量4180万台，连续19个季度位居全球 前三，连续七个季度实现同比增长；中国大陆智能手机市占率18.8%，时隔十年重回第一；loT与生活消 费产品收入323亿元，同比增长58.7%，其中科技家电收入增长113.8%。 小米 15 周年发布会全新发布的多款产品均将展出，包括小米首款自主研发设计的 3nm 旗舰处理器"玄 戒O1"，3 款小米 15 周年献礼之作小米 15S Pro、小米Pad 7 Ultra、小米 Watch S4 eSIM 15 周年纪念版， 以及小米汽车家族新成员豪华高性能 SUV小米YU7。据悉，本次展出是小米YU7 及玄戒O1发布后，首 次以线下特展方式集中向公众 ...

5月27日，小米集团（HK01810）发布2025年第一季度业绩报告，营收、经调净利再创新高。财报显示，2025年Q1小米营收同比增长47.4%至1113亿元， 继2024年Q4后再破千亿；经调整净利润首次突破百亿，达到107亿元，同比增幅高达64.5%。 造芯与造车一起成为小米发展历程上的两场最难战役。在发布芯片的当晚，小米YU7也正式亮相，定位「豪华高性能SUV」。据小米集团合伙人兼总裁卢 伟冰在财报电话会上透露，小米YU7留资用户是去年SU7同期的3倍、首次留资用户数超过了60%， 但小米远未"梭哈"。目前小米手里还有一批蓄势待发的牌，包括正在通过软硬件协同生态、布局AI生态入口、以智能制造工厂打造高端产能等。 三大增长曲线再创新高 2025年第一季度，小米集团的总营收收入、核心业务收入、经调整净利润等多项指标，均取得单季度历史新高，经调净利润也首次破百亿元大关达107亿 元。手机、汽车、大家电三大增长曲线均再创新高。 分板块看，财报显示，2025年一季度手机×AIoT板块收入为人民币927亿元，同比增长22.8%，毛利率为22.8%，同比提升0.5个百分点。细分来看，智能手 机收入增加8.9%至人民币 ...

如果您希望可以时常见面，欢迎标星收藏哦~ 来源：内容综合自小米 。 Arm表示，小米致力于将强大、快速、智能的设备交付给每一位用户。实现这一承诺的关键在于芯 片，它使小米能够提供先进的性能和高效的计算能力。 Arm 与小米在过去的合作中，携手优化了小米设备中系统级芯片 (SoC) 的性能、能效和工作负 载。随着小米自主研发芯片的不断涌现，双方在 SoC 设计上开展了更紧密的合作，不断突破性能 极限，并通过沉浸式智能体验为最终用户创造更多价值。 XRING O1 由 小 米 芯 片 部 门 XRING 打 造 ， 采 用 最 新 的 Armv9.2 Cortex CPU 集 群 IP 、 Arm Immortalis GPU IP 和 CoreLink Interconnect 系统 IP。这些标准 IP 针对尖端 3nm 工艺进行了 优化。 凭借XRING团队出色的后端和系统级设计，XRING O1 提供了出色的性能和效率。 XRING O1 将首次搭载于小米 15S Pro 智能手机和小米 Pad 7 Ultra 平板电脑。它兼具更长的电 池续航时间和卓越的性能，为最终用户带来沉浸式的多媒体和高端游戏体验。 ...

作 者丨雷晨 编 辑丨包芳鸣 在智能手机行业竞争日益激烈的今天，芯片自研能力已成为科技企业核心竞争力的关键。 5月2 2日，小米1 5周年战略新品发布会在北京召开。小米集团创始人、董事长兼CEO雷军宣 布，小米自主研发设计的首款3 nm旗舰处理器"玄戒O1 "正式发布。 这标志着，小米成为中国大陆首家、全球第四家能够自主研发设计3 nm手机芯片的企业，填补 了大陆地区在3 nm先进制程芯片研发设计领域的空白。 雷军表示， 小米的芯片要对标苹果 ，过去四年小米芯片研发投入超1 3 5亿元。 未来五年，小 米决定在核心技术的研发上再投入2 0 0 0亿元。 高端芯片领域实现破局，亦有望推动其"人车家全生态"战略的深度整合。发布会上，小米同 步发布了三款小米玄戒芯片的新品。 "在硬核科技探索的路上，小米是后来者，也是追赶者，但我们相信，这个世界终究不会强者 恒强，后来者总有机会。"雷军表示。 小米芯片破局，自研3 n m芯片叫板苹果 2 0 2 1 年 ， 小 米 在 决 定 造 车 的 同 时 ， 重 启 " 大 芯 片 " 业 务 ， 重 新 开 始 研 发 手 机 SoC ， 内 部 代 号 为"玄戒"。在组 ...

Core Viewpoint - The launch of Xiaomi's self-developed SoC chip "Xuanjie O1" marks a significant milestone for China's technology industry, showcasing the rise of domestic chips and the company's ambition in the global tech arena [2][4]. Group 1: Chip Development - "Xuanjie O1" is the first self-developed 3nm chip in mainland China, filling a gap in advanced chip design and development [4]. - Xiaomi becomes the fourth smartphone manufacturer globally, after Apple, Samsung, and Huawei, to possess self-developed SoC chip capabilities [4]. - The chip's development journey began in 2014, with the first chip "Panghu S1" released in 2017, but was paused until 2021 when Xiaomi resumed its SoC chip development [4][5]. Group 2: Investment and R&D - Xiaomi has committed to a long-term investment plan of at least 500 billion RMB over the next ten years, with over 135 billion RMB already invested in the "Xuanjie" project as of April this year [5]. - The R&D team for the "Xuanjie" chip has grown to over 2,500 people, with an expected investment of over 6 billion RMB in R&D this year [5]. - The launch of the Xiaomi 15S Pro and Xiaomi Pad 7 Ultra, both featuring the "Xuanjie O1," signifies a technological leap from 28nm to 3nm chips [5]. Group 3: Industry Context - The development of the "Xuanjie O1" chip reflects a broader trend in China's technology and manufacturing sectors, where companies are increasingly focusing on self-innovation and long-term investment strategies [7]. - Xiaomi's strategy includes a comprehensive ecosystem approach, integrating automotive, chip, and smart factory developments, positioning itself as a leading global tech company [7]. - The competitive landscape in the semiconductor field shows that Chinese companies are not deterred by external pressures but are instead making steady progress to close the gap with global leaders [8]. Group 4: Future Outlook - Xiaomi's 15th-anniversary product launch theme "New Starting Point" indicates readiness to face future challenges and continue its growth trajectory [8]. - The ongoing shift from "sweat-driven" to "innovation-driven" development among Chinese tech firms is expected to inject vitality and confidence into the economy [8][10].

来源：新华网 新华网北京5月23日电（记者郭宇靖、张骁）5月22日晚，中国科技界传来喜讯：我国科技企业小米在京 正式发布自研3纳米手机SoC芯片，被命名为"玄戒O1"，这是中国大陆地区首次研发设计出3纳米芯片。 芯片是"现代工业粮食"，其制程工艺的先进性，是近年来全球科技竞逐的焦点。制程工艺数值越低，意 味着晶体管集成度越高、性能越强。 "手机SoC芯片是系统级芯片，集成CPU、GPU等系统核心部件，对性能功耗平衡、设计水平有严苛要 求。"武汉大学工业科学研究院教授孙成亮认为，这一创新突破，有望推动国产半导体供应链升级。 小米自主研发设计的首款3纳米旗舰处理器"玄戒O1"在京发布。（受访者供图） 22日晚， 目前，小米这款自研芯片已实现规模量产，首发搭载在小米15S Pro和小米Pad 7 Ultra两款旗舰新品上。 为何坚持自研芯片，买来的不好吗？在业内人士指出，全球领先的消费电子巨头，都是芯片巨头。只有 掌握底层芯片能力，才能做到长期有差异的产品体验优势，才能建立长期"护城河"。想带来媲美全球旗 舰产品的一流体验，唯有吃透底层技术硬核"创芯"，才能蹚出科技引领的必由之路。 芯片研发鲜有坦途。在3纳米制程工 ...

Core Insights - Xiaomi celebrated its 15th anniversary with a strategic product launch event, introducing its first 3nm flagship processor "Xuanjie O1" and the first long-lasting 4G smartwatch chip "Xuanjie T1" [1][3] - The event showcased several high-end products, including the Xiaomi 15S Pro, Xiaomi Pad 7 Ultra, and Xiaomi Watch S4 "15th Anniversary Edition," as well as the debut of Xiaomi's first SUV, the Xiaomi YU7 [1][3][23] Product Launches - The Xuanjie O1 is a significant milestone as Xiaomi becomes the first company in mainland China and the fourth globally to design a 3nm flagship SoC, filling a gap in advanced chip design in the region [3][11] - The Xiaomi 15S Pro features two material versions, priced at 5499 RMB for 16GB+512GB and 5999 RMB for 16GB+1TB [3][5] - The Xiaomi Pad 7 Ultra is available in multiple configurations, with prices ranging from 5699 RMB to 7399 RMB depending on specifications [3][5] - The Xiaomi Watch S4 "15th Anniversary Edition" is priced at 1299 RMB and supports eSIM functionality [3][5] Automotive Development - The Xiaomi YU7 SUV is positioned as a "luxury high-performance SUV," set to officially launch in July with advanced design and technology features [23][26] - The YU7 boasts impressive specifications, including a maximum horsepower of 690 and a 0-100 km/h acceleration time of 3.23 seconds, with a range of up to 835 km [26][30] Chip Development Strategy - Xiaomi's chip development journey began in 2014, with a focus on smaller chips before returning to large-scale chip development in 2021, leading to the creation of the Xuanjie series [6][9] - Over the past four years, Xiaomi has invested over 13.5 billion RMB in the Xuanjie project, with a team of over 2500 people, ranking among the top in the domestic semiconductor design sector [9][11] Future Investment Plans - Xiaomi plans to invest an additional 200 billion RMB in core technology research and development over the next five years, aiming to solidify its position as a global leader in hard-core technology [33][41] - The company has experienced significant growth, with a projected 35% increase in revenue for 2024, driven by its smartphone, IoT, and electric vehicle segments [35][39]