XiaoMi’s “New and Old Replacement” and defensive battle with the electric vehicle sector
Worrying Mindset: Holding onto stocks persistently, observing calmly like a Buddhist, and paying attention to the fulfillment of “ecosystem premium.”
I. Market Overview: From 2025’s “Mania” to 2026’s “Consolidation” 2025 was a strong year for the Hong Kong stock market, with the Hang Seng Tech Index rising by 23.45% throughout the year – its best performance since inception. However, as we entered January 2026, the market transitioned into a clear pattern of “two upward trends and one pullback.