Technology Hardware, Storage and Peripherals

Xiaomi Corporation

Today’s Key News Recap

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1217 | Dolphin Research Watchlist. 🐬 Stock 1: $XIAOMI-W(01810.HK)On Dec 17, Xiaomi partner and Group President Lu Weibing said at the 2025 Xiaomi 'Human-Car-Home' ecosystem partner conference that the company will invest RMB 200 bn in R&amp;D over the next five years. It expects to spend approx. RMB 40 bn in 2026.Funds will target consumer electronics, smart EVs, on-device AI, and upstream smart manufacturing. This supports its 'Human-Car-Home' strategy and ambition to be a global hard-tech leader...

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Xiaomi commits RMB 200 bn to R&D; BYD ramps up internal testing for L3 mass production | Daily News Recap

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AI glasses are regarded as the 'next-generation personal mobile gateway' and are also the most likely mobile terminal to challenge smartphones.

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Alibaba, ByteDance, and Li Auto are rushing into the market; are AI glasses becoming the 'next big thing'? (Minutes)

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The following are the Minutes of the FY25 Q3 earnings call for $MEITUAN(03690.HK) organized by Dolphin Research. For an interpretation of the financial report, please refer to &#34;Meituan: A Loss of Nearly 20 Billion! Did Alibaba Really Succeed in Stealing the House This Time?&#34; 1. Review of Core Financial Data Performance Overview: Total Revenue: 95.5 billion yuan (YoY +2%). Profitability: Operating cost rate 73.6% (YoY +12.9pts), mainly due to rider incentives and rising overseas costs; adjusted net loss of 16 billion yuan, affected by irrational industry competition and strategic investments...

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Meituan (Minutes): 3Q loss peaks, but 4Q will continue the loss trend

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Confident in achieving quarterly breakeven in the fourth quarter

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Nio (3Q25 Minutes): Expects 20% vehicle gross margin in 2026, achieving full-year Non-GAAP profitability

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1125 | Dolphin Research Focus: 🐬 Stock 1, $Alphabet(GOOGL.US) It is reported that Meta is negotiating with Google to use TPU chips worth billions of dollars in its data centers by 2027, and plans to rent chips from Google Cloud next year. Although TPUs are not as flexible as NVIDIA GPUs, they have lower development costs and consume less power when running at full capacity. If TPUs are successfully supplied externally, it marks intensified competition in the AI chip market, potentially impacting NVIDIA's market share and pricing power. For Google...

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GraniteShares 2x Long NVDA Daily ETF

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Google's TPU Sales Challenge Nvidia Dominance; Xiaomi Rallies on Lei Jun's Stake Boost. ｜Today's Important News Review

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1121 | Dolphin Research Focus: 🐬 Macro/Industry 1. Last night's non-farm payroll data was released, presenting a 'split' scenario. On one hand, the number of jobs grew beyond expectations, while on the other hand, the unemployment rate unexpectedly rose to a four-year high, leading to a setback in the Federal Reserve's rate cut expectations. The VIX fear index surged significantly during the day. Meanwhile, after NVIDIA's earnings report, its stock initially surged but quickly retreated, causing tech stocks to collectively decline, with Chinese concept stocks simultaneously falling. Market sentiment spread to Asia-Pacific, and today, both Hong Kong and A-share markets are under pressure...

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The market is in distress; Xiaomi Rises Courageously｜Today's Important News Review

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以下为海豚君整理的 $Baidu(BIDU.US) 2025 财年第三季度财报电话会议纪要， $BIDU-SW(09888.HK) 财报解读请移步《 百度，猛贴 AI 讲故事，真能救活自己吗？》一、财报核心信息回顾 1. $BIDU-SWR(89888.HK) AI 收入占比已达 40%：三季度，直接与 AI 相关的收入实现近 100 亿，这已达到总营收的 40%...

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Baidu (Minutes): AI native marketing is the future second curve

Financial Analysis

$Baidu(BIDU.US) released its Q3 results after Hong Kong market hours on 18 November 2025. Overall, the performance met expectations. The detailed disclosure of AI revenue demonstrates the company's eagerness to shed its traditional label and fully embrace its new AI narrative. Specifically (focusing solely on Baidu's core operations): 1. AI revenue contribution reaches 40%: During Q3, revenue directly attributable to AI activities amounted to nearly RMB10 billion, constituting 40% of total revenue...

Agora

Can the new Baidu, aspiring to AI, successfully shed its old advertising label?

Xiaomi

The following are the minutes of Xiaomi's Q3 2025 earnings call organized by Dolphin Research. For an interpretation of the financial report, please refer to &#34;Xiaomi: Without Subsidies, Can Cars Really Hold Up the Front?&#34; 1. $XIAOMI-W(01810.HK) Core Data Review Performance Overview: Total Revenue: Reached RMB 113.1 billion, a year-on-year increase of 22.3%. This marks the fourth consecutive quarter that the group's revenue has exceeded RMB 100 billion. Group Gross Margin: 22.9%, an increase of 2.5 percentage points year-on-year, setting a new historical high. Adjusted Net Profit: RMB 11.3 billion, a year-on-year increase of 81%...

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Xiaomi (Minutes): Rising storage costs have a greater impact on manufacturers with lower ASP.

Xiaomi Corporation (1810.HK) released its Q3 2025 financial report (ending September 2025) after the Hong Kong stock market closed on the evening of November 18, 2025, Beijing time. The key points are as follows: 1. Overall performance: $XIAOMI-W(01810.HK) revenue was 113.1 billion, a year-on-year increase of 22.3%. Among this, revenue from traditional businesses (smartphones x AIoT) only grew by 1.6% year-on-year. The growth this quarter was mainly driven by the automotive business. The gross profit margin increased to a relatively high level of 22.9%...

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Xiaomi: With subsidies withdrawn, can the automotive sector truly uphold its reputation?

Xiaomi President confirms Xiaomi 17 Ultra price will increase, mainly due to 'epic' rise in memory costs

Xiaomi Group repurchased 3.8 million shares for HK$149 million on December 24

Xiaomi 17 Ultra Leica Edition introduces new 'Master Zoom Ring' feature

Court rules Xiaomi infringed on Jianpin's trademark rights, orders compensation of 100,000 yuan

Xiaomi repurchased 3.8 million B-class shares

Xiaomi confirms the upcoming Xiaomi 17 Ultra will have a special Leica Edition

Xiaomi Auto Technology Announces Patent for Vehicle Prompt Control System

US lawmakers urge adding Xiaomi to a list of 'Chinese military-affiliated companies'; company responds 'no basis'

Xiaomi Auto executive reveals the company is conducting preliminary research on all mainstream intelligent driving technology routes.

Xiaomi Holds New Product Launch, Increases Flagship Model Prices

Chinese gaming market expected revenue growth of 7.7% to 351 billion in 2025

Infoware confirms Xiaomi is one of its electronic component distribution customers

Xiaomi Auto Releases End-to-End Driving Technology and World Model

Lei Jun introduces Xiaomi's self-developed open-source inference model MiMo-V2-Flash

Xiaomi Group's Vice President of Finance and President of Tianxing Digital Technology Swap Positions

Sina Finance publishes an article recommending smartwatches for gamers, mentioning Xiaomi products

Data from China Automotive Technology & Research Center shows Xiaomi SU7 leads new energy vehicle model sales from January to November by a significant margin

China delays mass production plans for self-driving cars following a fatal Xiaomi SU7 crash

Xiaomi distributes customized SU7 car models printed with employee names and ID numbers

Xiaomi 17 Ultra is rumored to feature a 200-megapixel optical zoom lens with Leica APO certification

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