During MediaTek's 2024 launch event for its Dimensity chip series, Lu Weibing, Partner and President of Xiaomi Group, showcased the latest achievements and development trends in Xiaomi's mobile phone business. He projected that Xiaomi anticipates shipping 170 million mobile phones in 2024, marking a 16% year-over-year increase. Furthermore, Xiaomi's global sales of premium phones are expected to surge by 43% year-over-year, with the initial sales of the Xiaomi 15 Pro series witnessing a 17% jump compared to its predecessor.

Recently, numerous securities firms have released research reports indicating that consumer electronics categories, including smartphones and AIoT devices, are anticipated to be included in the 2025 3C National Subsidy program. It is expected that the scope of subsidized products will continue to expand. The total central fund allocation for trade-ins under the 2025 National Subsidy program, which encompasses cars, mobile phones, and home appliances, amounts to approximately 300 billion yuan. In certain regions, the subsidy for mobile phones reaches 20%, and additional policies are likely to be introduced to stimulate demand for 3C products.

Leveraging the dual benefits of AI integration and the 'National Subsidy', Xiaomi's annual mobile phone shipments are projected to reach new heights in 2025, potentially further bolstering its supply chain enterprises. The capital markets are keenly focused on the following companies:

Lens Technology (300433): A key supplier to Xiaomi, providing components and assembly services for Xiaomi's 15 flagship phones and intelligent cockpits for Xiaomi vehicles.

Goodix Technology (603160): A component supplier to Xiaomi, whose ultrasonic fingerprint solution has been successfully commercialized in multiple models, including the Xiaomi 15.

Sunwoda (300207): A lithium battery module enterprise, supplying batteries for Xiaomi phones and potentially collaborating with Xiaomi on innovative ventures such as electric vehicles.