Xiaomi Plunges Over 8% Post-Launch Event; XPeng Expands into Five European Markets | Today's Important News Review

0926 ｜Dolphin Research Focus:

🐬 Macro/Industry

1. On Thursday, U.S. President Trump once again wielded the tariff stick, announcing that starting October 1, the U.S. will impose a new round of high tariffs on various imported products. Measures include a 25% tariff on all imported heavy trucks; a 50% tariff on kitchen cabinets, bathroom vanities, and related building materials; a 30% tariff on imported furniture; and a 100% tariff on patented and branded drugs. He also threatened to expand the list further.

🐬 Individual Stocks

1.$XIAOMI-W(01810.HK)

The Xiaomi 17 series phones were officially released, starting at 4,499 yuan, featuring the world's first Snapdragon 8 Gen 5 Ultimate Edition with a 7,000mAh battery, and will go on sale on September 27. The focus of the launch event was on the phone products, released just before the Double Eleven shopping festival, which will benefit to some extent from the promotional season, but there were not many highlights, and the much-anticipated new chip was not released this time. For Dolphin Research's comments and summarized minutes, see Xiaomi (including minutes): Fully benchmarking iPhone! "More for less" to the end.

2.$Alibaba(BABA.US)

Alibaba Cloud officially announced the launch of the Qwen3-Omni multimodal base model, supporting unified input and output of text, images, audio, and video, with benchmarks in both Chinese and English surpassing GPT-4, focusing on enterprise-level scenarios (such as intelligent customer service, personalized content generation, and cross-modal data annotation). It is currently open for internal testing. The iteration of Qwen3-Omni closely aligns with the enterprise AI needs for "scenario-based and efficiency," covering a wider range of enterprise data types (such as charts and voice commands) with multimodal capabilities, and real-time inference reduces customer deployment costs and latency pain points.

3.$XPeng(XPEV.US)

XPeng announced its official entry into the markets of Switzerland, Austria, Hungary, Slovenia, and Croatia, with the first batch of G6 and G9 main models to be delivered through local authorized dealers, and offering exclusive supercharging network rights in Europe (compatible with CCS standards).

4.$SERES(601127.SH)

The China Securities Regulatory Commission issued a filing notice, allowing Seres to issue no more than 331 million H shares and list on the Hong Kong Stock Exchange, with the funds raised mainly used for the development of high-end intelligent models and high-voltage platforms. The A-shares rose nearly 6% today, reflecting positive expectations.

5. Dolphin Research focuses on earnings reports and conference calls

Costco: The middle class is also "weakening," Costco faces headwinds?, Costco (minutes): 35 new stores in fiscal year 26, no price increases unless absolutely necessary

🐬 Leading Sectors

Shanghai and Shenzhen: Precious metals and minerals, professional financial services, multi-line insurance;

Hong Kong stocks: Brewing industry, food retailers, trading companies and distributors;

U.S. stocks: Precious metals and minerals, silver, diversified metals and mining.

🐬 Focus for Tomorrow

1. None.

Risk disclosure and statement of this article: Dolphin Research Disclaimer and General Disclosure