According to a research report by TF Securities, the release of Xiaomi's self-developed chips is anticipated to expedite the transformation of the competitive landscape within the domestic high-end smartphone market. Xiaomi's capability in developing foundational hardware is poised to bolster its market share and valuation. Years of investment in smartphone technology, operating systems, and chip development have now started to yield substantial returns for Xiaomi. Furthermore, the synergies across these areas are fueling the growth of its automotive business. There is potential for these self-developed chips to be deployed across other product lines, showcasing the scale effect of system optimization across various platforms. Estimates suggest that Xiaomi's adjusted net profits attributable to shareholders will reach 42.9 billion yuan in 2025 and 85.5 billion yuan in 2026. Consequently, TF Securities maintains a 'buy' rating for Xiaomi.