---
title: "Xiaomi commits RMB 200 bn to R&D; BYD ramps up internal testing for L3 mass production | Daily News Recap"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/37192862.md"
description: "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&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..."
datetime: "2025-12-17T08:24:56.000Z"
locales:
  - [en](https://longbridge.com/en/topics/37192862.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/37192862.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/37192862.md)
author: "[Dolphin Research](https://longbridge.com/en/dolphin.md)"
---

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

## 1217 ｜**Dolphin Research Focus:**

## **🐬 Stocks**

**1、**$XIAOMI-W(01810.HK)

At Xiaomi's 2025 'Human–Car–Home' ecosystem partner conf. on Dec 17, Partner and President Lu Weibing said the company will invest RMB 200 bn in R&D over the next five years, with ~RMB 40 bn planned for 2026. Focus areas include consumer electronics, smart EVs, on-device AI, and upstream smart manufacturing to support the ecosystem strategy and its goal of becoming a global hard-tech leader. The scale doubles vs. the prior five-year R&D spend of RMB 100 bn, underscoring its push on core tech such as high-end chips and automotive electronics.

**2、**$NVIDIA(NVDA.US)

NVIDIA and SK hynix are co-developing an AI-centric SSD using NAND, targeting a prototype by end-2026 and mass production in 2027. The design creates a high-speed layer between HBM and traditional storage, with an IOPS target of 100 mn (10–30x current top-tier enterprise SSDs), tailored for trillion-parameter model inference. The collaboration aims to break the storage bottleneck in AI systems, as conventional SSDs can no longer meet low-latency, high-throughput needs. The new approach allows GPUs to call SSDs as temporary VRAM, lowering data center TCO and improving AI response times.

**3、**$BYD COMPANY(01211.HK)

BYD has begun full-scale L3 autonomy road testing for mass production in Shenzhen with the local transport bureau and other agencies, completing over 150,000 km of real-world validation. The internal tests run the 'God's Eye' L3 system with dual LiDAR and eight HD cameras, paired with in-house chips and HD maps. Safety features include a three-level takeover alert, building a closed loop across technology, regulation, and insurance.

**4、**$Luckin Coffee(LKNCY.US)

Reports suggest Luckin is exploring a potential acquisition of Blue Bottle with Centurium Capital and is also looking at % Arabica. The aim is to leverage Blue Bottle's premium positioning to upgrade brand perception and fill its gap in the high-end segment, complementing Luckin's mass-market focus. That said, Blue Bottle's traction in China has cooled in recent years, and its perceived low value-for-money may conflict with Luckin's value-oriented brand.

**5、**$Circle(CRCL.US)

Visa will allow U.S. banks and fintechs to settle transactions in USDC issued by Circle. Initial partner banks include Cross River Bank and Lead Bank, running on the Solana blockchain and enabling 24/7 settlement; Circle shares rose nearly 10% on the news.

## **🐬 Leading Sectors**

**A-shares:** tobacco and precious metals & mining. Medical services also led.

**HK:** silver and specialty chemicals. Airlines – passenger also gained.

**U.S.:** diversified capital markets and drug retailers. Auto manufacturers advanced as well.

## **🐬 Watchlist for Tomorrow**

**1、**Micron reports earnings. Dolphin Research will track and publish our analysis.

**2、**U.S. CPI (NSA, YoY) and CPI (SA, MoM), plus Core CPI (NSA, YoY) and Core CPI (SA, MoM). All due tomorrow.

**Risk disclosure & statement:**[**Dolphin Research Disclaimer & General Disclosure**](https://support.longbridge.global/topics/misc/dolphin-disclaimer)

### Related Stocks

- [01810.HK](https://longbridge.com/en/quote/01810.HK.md)
- [81810.HK](https://longbridge.com/en/quote/81810.HK.md)
- [XIACY.US](https://longbridge.com/en/quote/XIACY.US.md)
- [01211.HK](https://longbridge.com/en/quote/01211.HK.md)
- [BYDDF.US](https://longbridge.com/en/quote/BYDDF.US.md)
- [002594.CN](https://longbridge.com/en/quote/002594.CN.md)
- [81211.HK](https://longbridge.com/en/quote/81211.HK.md)
- [BYDDY.US](https://longbridge.com/en/quote/BYDDY.US.md)
- [HXXD.SG](https://longbridge.com/en/quote/HXXD.SG.md)
- [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md)
- [HYDD.SG](https://longbridge.com/en/quote/HYDD.SG.md)
- [LKNCY.US](https://longbridge.com/en/quote/LKNCY.US.md)
- [CRCL.US](https://longbridge.com/en/quote/CRCL.US.md)

## Comments (11)

- **草堂 · 2025-12-17T09:18:13.000Z · 👍 2**: Every word Zaliang says now will be met with a big question mark from the public❓
  - **饮水思源ly** (2025-12-17T13:23:22.000Z): HarmonyOS brain, quickly pay the IQ tax for your Canadian parents
  - **McMing** (2025-12-17T14:54:04.000Z): Transparent
  - **为了可爱的公平** (2025-12-17T16:21:01.000Z): HarmonyOS brain has been implanted
- **CHEN MQ · 2025-12-17T08:55:04.000Z · 👍 2**: I plan to invest 200 billion in Xiaomi stocks over the next 5 years.
- **lolo- · 2025-12-17T08:46:19.000Z · 👍 4**: 200 billion investment is the planned target
  - **为了可爱的公平** (2025-12-17T16:21:31.000Z): Harmony Brain is awesome
  - **Dolphin Research** (2025-12-18T06:00:40.000Z): Hmm, it's mentioned in the text
- **沙丁鱼 · 2025-12-17T08:36:52.000Z · 👍 3**: The last one that said it would spend 100 billion on R&D was Lenovo