目前这款产品在京东售价2209.15元，在拍易得最新一期 的活动中成交价仅1546元，浏览器访问拍易得官网可获 得最新详情！ 目前这款产品在京东售价2209.15元，在拍易得最新一期的活动中成交价仅1546元，浏览器访问拍易得 官网可获得最新详情！ 红米 K80 至尊版 5G手机，搭载强劲性能芯片，支持高速5G网络，畅享流畅体验。12GB大运存+512GB 超大存储，轻松应对多任务与海量文件存储需求。月岩白配色优雅简约，彰显独特品味，配合高品质屏 幕与出色影像系统，带来卓越视觉与拍摄享受。续航强劲，充电迅捷，满足全天候使用。无论是游戏、 办公还是拍照，红米 K80 至尊版都能从容应对，是兼具实力与颜值的理想之选。 红米 K80 至尊版 5G手机，搭载强劲性能芯片，支持高 速5G网络，畅享流畅体验。12GB大运存+512GB超大存 储，轻松应对多任务与海量文件存储需求。月岩白配色 优雅简约，彰显独特品味，配合高品质屏幕与出色影像 系统，带来卓越视觉与拍摄享受。续航强劲，充电迅 捷，满足全天候使用。无论是游戏、办公还是拍照，红 米 K80 至尊版都能从容应对，是兼具实力与颜值的理想 之选。 ...

目前这款产品在京东售价1826.65元，在拍易得最新一期的活动中成交价仅1279元，浏览器访问拍易得 官网可获得最新详情！ 目前这款产品在京东售价1826.65元，在拍易得最新一期 的活动中成交价仅1279元，浏览器访问拍易得官网可获 得最新详情！ 红米 K80 至尊版 5G手机，搭载强劲性能芯，畅享高速 5G网络体验。12GB大运存+256GB存储空间，轻松应对 多任务与海量文件存储需求。云杉绿配色沉稳时尚，彰 显独特品味。高清大屏搭配长效续航，带来更流畅、持 久的使用体验。无论是拍照、游戏还是日常办公，红米 K80 至尊版都能从容胜任，是兼具颜值与实力的旗舰之 选。 红米 K80 至尊版 5G手机，搭载强劲性能芯，畅享高速5G网络体验。12GB大运存+256GB存储空间，轻 松应对多任务与海量文件存储需求。云杉绿配色沉稳时尚，彰显独特品味。高清大屏搭配长效续航，带 来更流畅、持久的使用体验。无论是拍照、游戏还是日常办公，红米 K80 至尊版都能从容胜任，是兼 具颜值与实力的旗舰之选。 ...

Core Insights - Xiaomi held a comprehensive ecosystem launch event on June 26, introducing flagship products including the Xiaomi YU7 SUV, Xiaomi MIXFlip 2, and Xiaomi AI glasses, along with various other new products [1][3] Product Launch and Specifications - The Xiaomi YU7 SUV achieved over 208,900 pre-orders within the first hour, with pricing set at 253,500, 279,900, and 329,900 CNY for the Standard, Pro, and Max versions respectively [1] - The YU7 is positioned as a mid-to-large SUV, featuring dimensions of 4999mm x 1996mm x 1608mm and a wheelbase of 3000mm, offering more spacious interior compared to competitors like XPeng G7 and Model Y [1] - Performance-wise, the YU7 offers dual-motor all-wheel drive versions with total power outputs of 496Ps and 690Ps, surpassing the XPeng G7 (296Ps) and Model Y (450Ps) [1] - The standard version boasts a CLTC range of 835km with a 96.3kWh battery, outperforming the XPeng G7 (702km, 80.8kWh) and Model Y (593km, 62.5kWh) in terms of range [1] Intelligent Features - All versions of the YU7 are equipped with Qualcomm Snapdragon 8 Gen 3 cockpit chips and NVIDIA Thor autonomous driving chips, providing a computing power of 700 TOPS, comparable to XPeng G7 and Model Y [2] - The YU7 features standard hardware including Hesai AT128 lidar and a 4D millimeter-wave radar, enabling urban Navigation on Autopilot (NOA) capabilities [2] AI Glasses Specifications - The Xiaomi AI glasses emphasize a blend of fashion and technology, with lenses available in four color-changing options and a lightweight design of only 40g [3] - Pricing for the glasses is set at 1,999 CNY for the standard version, 2,699 CNY for the single-color electrochromic version, and 2,999 CNY for the color-changing version [3] - The glasses are powered by Qualcomm Snapdragon AR1 Gen1 and feature a dual-chip architecture for high performance and long battery life, with a standby time of 21 hours and typical usage of 8.6 hours [3] - They include a 12MP IMX681 camera supporting 2K video recording, dual speakers, and a five-microphone array for enhanced audio capabilities [3] - Software features include comprehensive AI interaction based on Xiao Ai, supporting various applications and functionalities such as real-time translation and smart home control [3] Financial Outlook - The company maintains its revenue forecasts for 2025-2027 at 483.6 billion, 580.8 billion, and 688.9 billion CNY, with adjusted net profits of 42.7 billion, 48.4 billion, and 58.6 billion CNY respectively [3] - The projected price-to-earnings ratios for 2025 and 2026 are 33X and 29X respectively, indicating a positive outlook based on the strong product capabilities and competitive pricing of the YU7 and AI glasses [3]

Investment Rating - The report maintains a "Buy" rating for Xiaomi Group-W (01810) [2][19] Core Views - The report highlights the strong product capabilities and competitive pricing of the Xiaomi YU7 SUV and AI glasses, predicting they will create new blockbuster products [7] - Revenue forecasts for 2025-2027 are maintained at RMB 483.6 billion, RMB 580.8 billion, and RMB 688.9 billion respectively, with adjusted net profits of RMB 42.7 billion, RMB 48.4 billion, and RMB 58.6 billion [7] Financial Data and Profit Forecast - Revenue (RMB billion): 2023: 271.0, 2024: 365.9, 2025E: 483.6, 2026E: 580.8, 2027E: 688.9 [6][10] - Year-on-year growth rates for revenue: 2023: -3%, 2024: 35%, 2025: 32%, 2026: 20%, 2027: 19% [6] - Net profit (RMB billion): 2023: 19.3, 2024: 27.3, 2025E: 42.7, 2026E: 48.4, 2027E: 58.6 [6][10] - Earnings per share (RMB/share): 2023: 0.76, 2024: 1.07, 2025E: 1.68, 2026E: 1.90, 2027E: 2.30 [6] - Price-to-earnings ratio (PE): 2025: 33, 2026: 29, 2027: 24 [6] Product Launch Insights - Xiaomi launched the YU7 SUV with over 208,900 pre-orders in the first hour, with competitive pricing and specifications compared to rivals like Xpeng G7 and Tesla Model Y [7][8] - The AI glasses feature a lightweight design and advanced technology, with various pricing tiers and capabilities that enhance user interaction and connectivity [7][9]

Investment Rating - The report maintains a "Strong Buy" investment rating for Xiaomi Group [5][6] Core Views - Xiaomi Group has launched a series of new products including the YU7 SUV, MIX Flip 2 smartphone, AI glasses, and various IoT devices, exceeding market expectations with significant pre-orders for the YU7 [5] - The company is positioned as a leading player in the smartphone market and the largest AIoT hardware platform globally, with a strong outlook for growth driven by its high-end product strategy and international expansion [5][6] - Revenue projections for 2025, 2026, and 2027 are estimated at 519.1 billion, 706.7 billion, and 907.5 billion CNY respectively, with adjusted net profits of 45.8 billion, 67.7 billion, and 92.6 billion CNY [6] Summary by Sections Automotive - The YU7 SUV has received over 200,000 pre-orders within three minutes of launch, showcasing strong market demand [5] - The YU7 features advanced specifications including a standard range of 835 km, high-level autonomous driving capabilities, and competitive pricing compared to Tesla's Model Y [5][6] Smartphones - The MIX Flip 2 and REDMI K80 Supreme Edition smartphones were launched with significant upgrades in performance and design [5] - The MIX Flip 2 features a 4.01-inch external screen, a 5165mAh battery, and advanced folding technology, while the REDMI K80 boasts a Dimensity 9400+ processor and a large 7410mAh battery [5][6] IoT Products - Xiaomi introduced a range of IoT products including tablets, wearables, and smart home appliances, with the first AI glasses priced at 1999 CNY [5] - The new products aim to enhance user experience and integrate seamlessly into the Xiaomi ecosystem [5] Financial Projections - The report forecasts significant revenue growth with a year-on-year increase of 42% in 2025, 36% in 2026, and 28% in 2027 [6] - The projected PE ratios for 2025, 2026, and 2027 are 35.3, 23.2, and 16.7 respectively, indicating potential for long-term value appreciation [6]