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- 麦_9439麦_9439
  ·01-26
  靠欺骗消费者赚的钱迟早要还回去，说好的不赚钱，造一台亏一台，结果靠各种骚操作和偷工减料还赚钱了。诚信在哪里？现在手机业务被**碾压，靠着**被制裁撑起来的股价随着**回归，手机要凉，股价靠着造车有涨了一波，结果高位定增，现在跌破机构定增价了，估计有兜底协议。造车这质量估计，早晚要黄。
  汽车业务单季盈利后，小米为什么更需要回购股票？
  回购并非庆功而是防御性这一系列股份回购动作，发生在小米汽车业务实现单季度盈利之后。在2025年三季度，小米汽车业务实现单季度盈利，意味着小米汽车的产品生产制造、供应链成本以及交付体系，在特定条件下已经具备跑通能力。在实现汽车业务的单季度盈利之后，小米集团股价持续承压，一路从约61港元的高点，下跌至约35港元，累计跌幅超过四成。这成为了小米集团自去年9月以来频繁回购股份的直接原因。
  汽车业务单季盈利后，小米为什么更需要回购股票？
  30 评论
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- 麦_9439麦_9439
  ·01-26
  三年内跌破十元，或许更早
  小米集团：1月26日斥资约1.4亿港元回购398.72万股B类股份
  每股回购价格为35.04港元-35.22港元。
  小米集团：1月26日斥资约1.4亿港元回购398.72万股B类股份
  53 评论
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- 麦_9439麦_9439
  ·2025-12-17
  说小米是科技公司，我觉得是个笑话，坚决做空小米
  卢伟冰：小米2026年预计研发投入约400亿元
  小米集团合伙人、集团总裁卢伟冰12月17日在2025小米“人车家全生态”合作伙伴大会上宣布，小米未来五年将在研发上投入2000亿元，长期目标是成为全球硬核科技的引领者。具体到今年，预计小米研发投入将达到320元至330亿元，2026年预计投入约400亿元。
  卢伟冰：小米2026年预计研发投入约400亿元
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18:40","market":"hk","language":"zh","title":"汽车业务单季盈利后，小米为什么更需要回购股票？","url":"https://stock-news.laohu8.com/highlight/detail?id=2606821212","media":"家电网","summary":"回购并非庆功而是防御性这一系列股份回购动作，发生在小米汽车业务实现单季度盈利之后。在2025年三季度，小米汽车业务实现单季度盈利，意味着小米汽车的产品生产制造、供应链成本以及交付体系，在特定条件下已经具备跑通能力。在实现汽车业务的单季度盈利之后，小米集团股价持续承压，一路从约61港元的高点，下跌至约35港元，累计跌幅超过四成。这成为了小米集团自去年9月以来频繁回购股份的直接原因。","content":"<html><body><article><p>悲观情绪在新能源汽车行业蔓延。</p><p>一月下旬，<a href=\"https://laohu8.com/S/XIACY\">小米</a>集团发布公告称，公司已与一家独立经纪商签订协议，该经纪商将根据经纪协议所记载的预定参数在<a href=\"https://laohu8.com/S/00388\">港交所</a><span>回购</span>不超过25亿港元<a href=\"https://laohu8.com/S/01810\">小米</a>集团的B类普通股。此项自动<span>股份回购</span>计划将于1月23日正式启动。</p><p><a href=\"https://laohu8.com/S/81810\">小米</a>集团在公告中表示，实施自动股份回购计划可展示公司对自身业务前景充满信心，符合公司及股东的整体最佳利益。公司其后将注销自动股份购回计划下购回的股份。</p><p>公开数据显示，2025年9月29日至2026年1月22日期间，小米已累计实施44次股份回购，合计回购约2.06亿股，总耗资约74.64亿元人民币。进入2026年后，小米回购节奏进一步加快。据Wind数据统计，2026年以来截至1月22日，小米集团累计斥资22.5亿港元用于股份回购。若叠加本次25亿港元的股份回购计划，小米集团2026年的回购规模将达到47.5亿港元，同时仍保留继续扩大的空间。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20260126192336106v201okdwxyio0th\"/><p><strong>回购并非庆功</strong></p><p><strong>而是防御性</strong></p><p>这一系列股份回购动作，发生在小米汽车业务实现单季度盈利之后。</p><p>从去年年初开始，多家车企相继设立了2025年内实现盈利的关键目标，以获取在新能源汽车市场继续生存的资格。在2025年三季度，小米汽车业务实现单季度盈利，意味着小米汽车的产品生产制造、供应链成本以及交付体系，在特定条件下已经具备跑通能力。</p><p>小米集团发布的2025年第三季度业绩报告显示，小米集团实现营收1131.2亿元，同比增长22.3%；实现经调整<span>净利润</span>113.1亿元，同比增长80.9%。汽车业务层面，小米汽车及AI等创新业务分部，收入283亿元，同比增长197.9%，交付量10.88万辆较二季度增长33.8%，最终实现了7亿元的盈利。</p><p>从数据来看，小米汽车业务呈现出稳中向好的趋势。</p><p>按照常理来说，盈利往往是正面信号，意味着企业相关业务的经营风险进一步下降，体现在二级市场上的是估值逐步企稳。但现实情况却未沿着这一路径展开。在实现汽车业务的单季度盈利之后，小米集团股价持续承压，一路从约61港元的高点，下跌至约35港元，累计跌幅超过四成。</p><p>这成为了小米集团自去年9月以来频繁回购股份的直接原因。小米将股份回购视为一种防御性手段，频繁回购的背后，并不是为了制造估值的上涨空间，而是通过真金白银的投入，为上市公司的估值设定下限，为股价进行托底，同时进行预期管理。</p><p>小米集团股价的反常背后，是新能源汽车市场的整体情绪转向谨慎的信号。这一变化意味着，新能源汽车业务的盈利已经不再自动对应估值溢价，而成为了下一阶段竞争的准入门槛。</p><p>回归到小米来看，汽车业务的单季度盈利，在资本市场看来，代表的是小米汽车的盈利模式只是特定阶段下的一次验证，尚不足以证明其具有重复性和稳定性。更关键的是，7亿元的净利润相较于283亿元的营收来说，算不上稳健，价格战拉长、扩产、政策退坡等等都是对盈利模式的动摇。</p><p>同时，进入谨慎阶段之后，市场对不确定性的容忍度不断下降。单季度盈利之后，新能源汽车产业的风险并没有消失。诸多问题反而随之涌现，比如盈利之后要不要扩产，扩产会不会翻过来吃掉利润？又后续车型能否延续当前的市场接受度等等。</p><p><strong>盈利刚出现</strong></p><p><strong>出清已到来</strong></p><p>资本市场情绪为什么会转向谨慎？这和新能源汽车产业的发展以及现状有关。</p><p>从积极面来看，在政策的保驾护航以及消费者的高强度支持下，新能源汽车渗透率持续攀升，部分车企开始实现阶段性盈利。然而，行业并未因此进入能够持续产生现金流的轻松阶段，反而需要直面行业出清、竞争进一步加剧的新局面。</p><p>其中最显著的迹象在于，价格战并未因为企业的盈利的而终止，反而出现促销常态化的情况。据媒体的不完全统计，2026开年不到10天，就有20多家车企、共计超75款车型发布了限时促销活动，且促销形式多样化。部分车型直接采用现金补贴，部分车型玩起“一口价”卖车，部分车型则采用金融贷款3年免息或5年免息的策略，部分车型叠加置换补贴、“补上加补”。</p><p>价格战的持续以及促销的常态化，意味着市场的内卷和竞争仍在持续，企业仍然在价格战战线拉长的情况下，面临对亏损和低利润状态承受能力的考验。与此同时，为了保持竞争力，扩大盈利规模，企业往往不得不同步推进扩产、新车型投放和渠道建设，以防止在竞争中被边缘化。这使得原本就不宽裕的利润空间，再次面临被投入吞噬的风险。</p><p>这意味着，新能源汽车行业的出清，仍然是一场耐力测试。企业需要证明的不仅仅是能盈利，还要证明在自身价格战、扩产周期和资本收紧的挑战下，能够长期、持续盈利的能力。</p><p>更关键的是，新能源汽车产业正在失去政策的全面优待。最直接的变化是2026到2027年，新能源车购置税从“免征”转为“减半征收”，且每辆减税上限1.5万元。同时2026 报废更新买新能源乘用车，按新车价格的12%补贴，最高补贴2万元。这意味着，尽管行业仍然有政策托底，但过去靠补贴<span>拉升</span>行业景气的单边叙事不再上演。</p><p>正是在这样的变化下，新能源汽车市场的估值体系开始转变。企业在漫长的出清周期中，不在愿意为长期亏损和远期故事买单，并开始向现金流、投入产出和盈利稳定性倾斜，单季度盈利已不足以支撑估值修复。</p><p>小米回购，正是这一行业变化下的企业回应。当盈利出现的时间点，与行业出清阶段重合，企业需要面对的已不只是“能否盈利”，而是“能否在更残酷的竞争中持续盈利”。在这种情况下，回购更像是一种预期管理行为，而非对短期业绩的庆祝。</p><p><strong>HEA.CN</strong>| 最具影响力的深度原创科技门户</p><p><strong>新媒体</strong>|  微博 微信 今日头条  界面 <a href=\"https://laohu8.com/S/NTES\">网易</a> <a href=\"https://laohu8.com/S/SOHU\">搜狐</a> <a href=\"https://laohu8.com/S/META\">Facebook</a></p><p><strong>涉猎</strong>| 家电、数码、财经、电动汽车、家用清洁能源、VR、海外科技与投资</p><p>时评及投资建议仅代表作者个人意见</p><p><strong>Mobile</strong>|<strong>1709-2081-598</strong></p><p><strong>编辑 / 作者：小嘻</strong></p></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260126192410953e60b4&s=b><strong>家电网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>悲观情绪在新能源汽车行业蔓延。一月下旬，小米集团发布公告称，公司已与一家独立经纪商签订协议，该经纪商将根据经纪协议所记载的预定参数在港交所回购不超过25亿港元小米集团的B类普通股。此项自动股份回购计划将于1月23日正式启动。小米集团在公告中表示，实施自动股份回购计划可展示公司对自身业务前景充满信心，符合公司及股东的整体最佳利益。公司其后将注销自动股份购回计划下购回的股份。公开数据显示，2025年9...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260126192410953e60b4&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"81810":"小米集团-WR","LU0054450605.USD":"HSBC GIF GLOBAL EMERGING MARKTS EQ \"AD\" INC","01810":"小米集团-W","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU0456846285.SGD":"JPMorgan Funds - Greater China A (acc) SGD","SG9999002463.SGD":"LionGlobal China Growth SGD","LU0540923850.HKD":"ALLIANZ HONG KONG EQUITY \"A\" (HKD) INC","LU1880383440.USD":"AMUNDI FUNDS CHINA EQUITY \"A2\" (USD) 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ACC"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20260126192410953e60b4&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2606821212","content_text":"悲观情绪在新能源汽车行业蔓延。一月下旬，小米集团发布公告称，公司已与一家独立经纪商签订协议，该经纪商将根据经纪协议所记载的预定参数在港交所回购不超过25亿港元小米集团的B类普通股。此项自动股份回购计划将于1月23日正式启动。小米集团在公告中表示，实施自动股份回购计划可展示公司对自身业务前景充满信心，符合公司及股东的整体最佳利益。公司其后将注销自动股份购回计划下购回的股份。公开数据显示，2025年9月29日至2026年1月22日期间，小米已累计实施44次股份回购，合计回购约2.06亿股，总耗资约74.64亿元人民币。进入2026年后，小米回购节奏进一步加快。据Wind数据统计，2026年以来截至1月22日，小米集团累计斥资22.5亿港元用于股份回购。若叠加本次25亿港元的股份回购计划，小米集团2026年的回购规模将达到47.5亿港元，同时仍保留继续扩大的空间。回购并非庆功而是防御性这一系列股份回购动作，发生在小米汽车业务实现单季度盈利之后。从去年年初开始，多家车企相继设立了2025年内实现盈利的关键目标，以获取在新能源汽车市场继续生存的资格。在2025年三季度，小米汽车业务实现单季度盈利，意味着小米汽车的产品生产制造、供应链成本以及交付体系，在特定条件下已经具备跑通能力。小米集团发布的2025年第三季度业绩报告显示，小米集团实现营收1131.2亿元，同比增长22.3%；实现经调整净利润113.1亿元，同比增长80.9%。汽车业务层面，小米汽车及AI等创新业务分部，收入283亿元，同比增长197.9%，交付量10.88万辆较二季度增长33.8%，最终实现了7亿元的盈利。从数据来看，小米汽车业务呈现出稳中向好的趋势。按照常理来说，盈利往往是正面信号，意味着企业相关业务的经营风险进一步下降，体现在二级市场上的是估值逐步企稳。但现实情况却未沿着这一路径展开。在实现汽车业务的单季度盈利之后，小米集团股价持续承压，一路从约61港元的高点，下跌至约35港元，累计跌幅超过四成。这成为了小米集团自去年9月以来频繁回购股份的直接原因。小米将股份回购视为一种防御性手段，频繁回购的背后，并不是为了制造估值的上涨空间，而是通过真金白银的投入，为上市公司的估值设定下限，为股价进行托底，同时进行预期管理。小米集团股价的反常背后，是新能源汽车市场的整体情绪转向谨慎的信号。这一变化意味着，新能源汽车业务的盈利已经不再自动对应估值溢价，而成为了下一阶段竞争的准入门槛。回归到小米来看，汽车业务的单季度盈利，在资本市场看来，代表的是小米汽车的盈利模式只是特定阶段下的一次验证，尚不足以证明其具有重复性和稳定性。更关键的是，7亿元的净利润相较于283亿元的营收来说，算不上稳健，价格战拉长、扩产、政策退坡等等都是对盈利模式的动摇。同时，进入谨慎阶段之后，市场对不确定性的容忍度不断下降。单季度盈利之后，新能源汽车产业的风险并没有消失。诸多问题反而随之涌现，比如盈利之后要不要扩产，扩产会不会翻过来吃掉利润？又后续车型能否延续当前的市场接受度等等。盈利刚出现出清已到来资本市场情绪为什么会转向谨慎？这和新能源汽车产业的发展以及现状有关。从积极面来看，在政策的保驾护航以及消费者的高强度支持下，新能源汽车渗透率持续攀升，部分车企开始实现阶段性盈利。然而，行业并未因此进入能够持续产生现金流的轻松阶段，反而需要直面行业出清、竞争进一步加剧的新局面。其中最显著的迹象在于，价格战并未因为企业的盈利的而终止，反而出现促销常态化的情况。据媒体的不完全统计，2026开年不到10天，就有20多家车企、共计超75款车型发布了限时促销活动，且促销形式多样化。部分车型直接采用现金补贴，部分车型玩起“一口价”卖车，部分车型则采用金融贷款3年免息或5年免息的策略，部分车型叠加置换补贴、“补上加补”。价格战的持续以及促销的常态化，意味着市场的内卷和竞争仍在持续，企业仍然在价格战战线拉长的情况下，面临对亏损和低利润状态承受能力的考验。与此同时，为了保持竞争力，扩大盈利规模，企业往往不得不同步推进扩产、新车型投放和渠道建设，以防止在竞争中被边缘化。这使得原本就不宽裕的利润空间，再次面临被投入吞噬的风险。这意味着，新能源汽车行业的出清，仍然是一场耐力测试。企业需要证明的不仅仅是能盈利，还要证明在自身价格战、扩产周期和资本收紧的挑战下，能够长期、持续盈利的能力。更关键的是，新能源汽车产业正在失去政策的全面优待。最直接的变化是2026到2027年，新能源车购置税从“免征”转为“减半征收”，且每辆减税上限1.5万元。同时2026 报废更新买新能源乘用车，按新车价格的12%补贴，最高补贴2万元。这意味着，尽管行业仍然有政策托底，但过去靠补贴拉升行业景气的单边叙事不再上演。正是在这样的变化下，新能源汽车市场的估值体系开始转变。企业在漫长的出清周期中，不在愿意为长期亏损和远期故事买单，并开始向现金流、投入产出和盈利稳定性倾斜，单季度盈利已不足以支撑估值修复。小米回购，正是这一行业变化下的企业回应。当盈利出现的时间点，与行业出清阶段重合，企业需要面对的已不只是“能否盈利”，而是“能否在更残酷的竞争中持续盈利”。在这种情况下，回购更像是一种预期管理行为，而非对短期业绩的庆祝。HEA.CN| 最具影响力的深度原创科技门户新媒体|  微博 微信 今日头条  界面 网易 搜狐 Facebook涉猎| 家电、数码、财经、电动汽车、家用清洁能源、VR、海外科技与投资时评及投资建议仅代表作者个人意见Mobile|1709-2081-598编辑 / 作者：小嘻","news_type":1,"symbols_score_info":{"81810":0.6,"HXXD.SI":0.6,"01810":1.96,"XIACY":1.96,"MIUmain":0.6}},"isVote":1,"tweetType":1,"viewCount":30,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":525982894118136,"gmtCreate":1769438682517,"gmtModify":1769438995142,"author":{"id":"3546862061840984","authorId":"3546862061840984","name":"麦_9439","avatar":"https://static.tigerbbs.com/8ed529b597eb67761f70c9c1858c14a4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3546862061840984","idStr":"3546862061840984"},"themes":[],"title":"","htmlText":"三年内跌破十元，或许更早","listText":"三年内跌破十元，或许更早","text":"三年内跌破十元，或许更早","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/525982894118136","repostId":"1181987045","repostType":2,"repost":{"id":"1181987045","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1769427281,"share":"https://www.laohu8.com/m/news/1181987045?lang=zh_CN&edition=full","pubTime":"2026-01-26 19:34","market":"hk","language":"zh","title":"小米集团：1月26日斥资约1.4亿港元回购398.72万股B类股份","url":"https://stock-news.laohu8.com/highlight/detail?id=1181987045","media":"老虎资讯综合","summary":"每股回购价格为35.04港元-35.22港元。","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/01810\">小米集团-W</a> ：1月26日斥资约1.4亿港元回购398.72万股B类股份，每股回购价格为35.04港元-35.22港元。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cdad5640629aabfe9954d1286ae23752\" title=\"\" tg-width=\"1315\" tg-height=\"730\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>小米集团：1月26日斥资约1.4亿港元回购398.72万股B类股份</title>\n<style 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href=\"https://laohu8.com/S/01810\">小米集团-W</a> ：1月26日斥资约1.4亿港元回购398.72万股B类股份，每股回购价格为35.04港元-35.22港元。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cdad5640629aabfe9954d1286ae23752\" title=\"\" tg-width=\"1315\" tg-height=\"730\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/aea2b9ab8a046974039715aed46d9985","relate_stocks":{"01810":"小米集团-W","XIACY":"小米集团ADR"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181987045","content_text":"小米集团-W ：1月26日斥资约1.4亿港元回购398.72万股B类股份，每股回购价格为35.04港元-35.22港元。","news_type":1,"symbols_score_info":{"XIACY":2,"01810":2}},"isVote":1,"tweetType":1,"viewCount":53,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":511691973898456,"gmtCreate":1765951756303,"gmtModify":1765952797437,"author":{"id":"3546862061840984","authorId":"3546862061840984","name":"麦_9439","avatar":"https://static.tigerbbs.com/8ed529b597eb67761f70c9c1858c14a4","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3546862061840984","idStr":"3546862061840984"},"themes":[],"title":"","htmlText":"说小米是科技公司，我觉得是个笑话，坚决做空小米","listText":"说小米是科技公司，我觉得是个笑话，坚决做空小米","text":"说小米是科技公司，我觉得是个笑话，坚决做空小米","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/511691973898456","repostId":"1163304646","repostType":2,"repost":{"id":"1163304646","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1765951439,"share":"https://www.laohu8.com/m/news/1163304646?lang=zh_CN&edition=full","pubTime":"2025-12-17 14:03","market":"hk","language":"zh","title":"卢伟冰：小米2026年预计研发投入约400亿元","url":"https://stock-news.laohu8.com/highlight/detail?id=1163304646","media":"老虎资讯综合","summary":"小米集团合伙人、集团总裁卢伟冰12月17日在2025小米“人车家全生态”合作伙伴大会上宣布，小米未来五年将在研发上投入2000亿元，长期目标是成为全球硬核科技的引领者。具体到今年，预计小米研发投入将达到320元至330亿元，2026年预计投入约400亿元。  ","content":"<html><head></head><body><p>小米集团合伙人、集团总裁卢伟冰12月17日在2025小米“人车家全生态”合作伙伴大会上宣布，小米未来五年将在研发上投入2000亿元，长期目标是成为全球硬核科技的引领者。</p><p>具体到今年，预计小米研发投入将达到320元至330亿元，2026年预计投入约400亿元。</p><p>他表示，未来，小米将持续投入底层核心技术，持续深耕芯片、OS、AI三大核心技术赛道，与全球开发者共同助力“人车家全生态”全面繁荣。</p><p></p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>卢伟冰：小米2026年预计研发投入约400亿元</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n卢伟冰：小米2026年预计研发投入约400亿元\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2025-12-17 14:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>小米集团合伙人、集团总裁卢伟冰12月17日在2025小米“人车家全生态”合作伙伴大会上宣布，小米未来五年将在研发上投入2000亿元，长期目标是成为全球硬核科技的引领者。</p><p>具体到今年，预计小米研发投入将达到320元至330亿元，2026年预计投入约400亿元。</p><p>他表示，未来，小米将持续投入底层核心技术，持续深耕芯片、OS、AI三大核心技术赛道，与全球开发者共同助力“人车家全生态”全面繁荣。</p><p></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/aea2b9ab8a046974039715aed46d9985","relate_stocks":{"01810":"小米集团-W"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163304646","content_text":"小米集团合伙人、集团总裁卢伟冰12月17日在2025小米“人车家全生态”合作伙伴大会上宣布，小米未来五年将在研发上投入2000亿元，长期目标是成为全球硬核科技的引领者。具体到今年，预计小米研发投入将达到320元至330亿元，2026年预计投入约400亿元。他表示，未来，小米将持续投入底层核心技术，持续深耕芯片、OS、AI三大核心技术赛道，与全球开发者共同助力“人车家全生态”全面繁荣。","news_type":1,"symbols_score_info":{"01810":2}},"isVote":1,"tweetType":1,"viewCount":2501,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3480033853392416","authorId":"3480033853392416","name":"张晨大魔王","avatar":"https://static.tigerbbs.com/3bbdb8f2e1f3b8661b8559a13698c26d","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3480033853392416","idStr":"3480033853392416"},"content":"没做空一律当傻子。","text":"没做空一律当傻子。","html":"没做空一律当傻子。"},{"author":{"id":"3482969633031222","authorId":"3482969633031222","name":"老未","avatar":"https://static.tigerbbs.com/26598aea0fc930b6aa243ea3c7d99ad3","crmLevel":8,"crmLevelSwitch":0,"authorIdStr":"3482969633031222","idStr":"3482969633031222"},"content":"晒单别晒嘴炮","text":"晒单别晒嘴炮","html":"晒单别晒嘴炮"}],"imageCount":0,"langContent":"CN","totalScore":0}],"defaultTab":"posts","isTTM":false}