小米股价创历史新高

近日，小米集团股价续创历史新高，市值突破万亿人民币。

今天你练听力了吗？

🤔️小作业：

1. What is the primary factor driving the recent surge in Xiaomi's share price, as described in the article?

A. Increased global demand for premium smartphones.

B. Optimism about enhanced consumer subsidies and new product catalysts.

C. A significant reduction in production costs across all product lines.

D. The company's dominant position in the electric vehicle market.

无注释原文：

Xiaomi Shares Hit All-Time High Amid Glowy Outlook

From: The Wall Street Journal

Xiaomi's shares hit a new intraday high in Hong Kong as optimism grew over the earnings outlook for the Chinese consumer-electronics specialist this year.

The stock rose as much as 6.2% to 43.05 Hong Kong dollars, equivalent to US$5.53, early Friday before paring the gains to about 4.5% in afternoon trading.

The advance comes as analysts have reiterated their positive view on the company, saying they expect China's broadened trade-in program for consumer goods to boost sales of Xiaomi smartphones and consumer electronics in 2025.

The expanded subsidy program to encourage consumers to upgrade electronics, home appliances and smartphones will likely be a tailwind for Xiaomi, HSBC Global Research analysts said.

Xiaomi's Internet-of-Things devices business also stands to benefit from recent breakthroughs in artificial intelligence, HSBC said in a note. Several analysts have said that Chinese startup DeepSeek's reportedly cheap yet powerful model and its open-source nature could help lower the costs of AI adoption in businesses involved in AI technologies.

HSBC Global Research has a buy rating on the stock, with a raised target price of HK$49.90.

Xiaomi has also experienced early success with its foray into China's crowded and competitive electric-vehicle market. Sales of its first car, the battery-electric SU7, have been robust, and Xiaomi is scheduled to launch the SU7 Ultra, a high-performance variant aimed the premium market, at the end of February. That could serve as the next catalyst for the stock, according to HSBC.

Xiaomi Chief Executive and founder Lei Jun said in Weibo posts this week that the company targets selling more than 10,000 SU7 Ultras this year and is working to boost the production capacity of its EVs.

The smartphone maker is also slated to release the Xiaomi 15 Ultra, a premium model, later this month.

- ◆ -

注：完整题目见本文开头；中文文本为华尔街日报官方译文，仅供参考

含注释全文：

Xiaomi Shares Hit All-Time High Amid Glowy Outlook

From: The Wall Street Journal

Xiaomi's shares hit a new intraday high in Hong Kong as optimism grew over the earnings outlook for the Chinese consumer-electronics specialist this year.

小米集团（Xiaomi）港股创盘中新高，原因是投资者对这家中国消费电子产品公司今年的盈利前景更加乐观。

表示“当天的，一天内的，日内”，英文解释为“during a particular day”

optimism /ˈɒp.tɪ.mɪ.zəm/ 表示“乐观；乐观主义”，英文解释为“the quality of being full of hope and emphasizing the good parts of a situation, or a belief that something good will happen”举个🌰：There was a note of optimism in his voice as he spoke about the company's future. 谈到公司的未来，他语气里带着乐观情绪。

outlook /ˈaʊt.lʊk/ 1）表示“前景；展望”，英文解释为“the likely future situation”举个🌰：The outlook for the economy is bleak. 经济前景暗淡。

2）表示“观点，看法”，英文解释为“a person's way of understanding and thinking about something”举个🌰：He has a fairly positive outlook on life. 他的人生观相当积极。

3）表示“景色，风光，景致”，英文解释为“what you can see from a particular place”举个🌰：From the top of the tower, the outlook over the city was breathtaking. 从塔顶俯视，这座城市的景色令人叹为观止。

The stock rose as much as 6.2% to 43.05 Hong Kong dollars, equivalent to US$5.53, early Friday before paring the gains to about 4.5% in afternoon trading.

该股周五早盘一度上涨6.2%，至43.05港元（约合5.53美元），后市涨幅收窄至4.5%左右。

1）表示“（商店的）库存，存货”，英文解释为“the total amount of goods or the amount of a particular type of goods available in a shop”

2）表示“股份；股票”，英文解释为“part of the ownership of a company that can be bought by members of the public”举个🌰：Stock prices fell yesterday in heavy trading. 股价昨日放量下跌。

类似的：

📍share作名词，表示“股份，股票”，英文解释为“any of the units of equal value into which a company is divided and sold to raise money. People who own shares receive part of the company's profits.”

equivalent /ɪˈkwɪv.əl.ənt/ 1）作形容词，表示“（价值、数量、意义、重要性等）相等的，相同的”，英文解释为“equal in value, amount, meaning, importance, etc.”举个🌰：Eight kilometres is roughly equivalent to five miles. 八公里约等于五英里。

2）作名词，表示“相等的东西；等量；对应词”，英文解释为“a thing, amount, word, etc. that is equivalent to sth else”

pare /peər/ 1）表示“（尤指大量地）削减，减少”，英文解释为“to reduce something, especially by a large amount”举个🌰：The three-hour play has been pared (down/back) to two hours. 这出三个小时的戏被缩短成了两小时。

2）表示“削（尤指水果或蔬菜的）皮”，英文解释为“to cut away the outer layer from something, especially a fruit or a vegetable”举个🌰：He was busy paring apples in the kitchen. 他正忙着在厨房里削苹果。

The advance comes as analysts have reiterated their positive view on the company, saying they expect China's broadened trade-in program for consumer goods to boost sales of Xiaomi smartphones and consumer electronics in 2025.

此前，分析师重申了对小米的积极看法，预计中国扩大消费品以旧换新计划将在2025年提振小米智能手机和消费电子产品的销量。

reiterate /riˈɪt.ər.eɪt/ 表示“反复地说，反复讲；重申”，英文解释为“to say something again, once or several times”举个🌰：She reiterated that she had never seen him before. 她一再重申自己以前从未见过他。

trade-in表示“折价贴换交易，以旧折价换新”，英文解释为“a method of buying something new by giving something you own as part of the payment for it”举个🌰：We got a good trade-in price for our old car. 我们的旧汽车折抵了不少钱。

boost /buːst/ 可以作名词也可以作动词，表示“改善；提高；增强；推动”，英文解释为“to improve or increase something”举个🌰：The theatre managed to boost its audiences by cutting ticket prices. 剧院设法通过降低票价来增加观众数量。

📍“佩洛西有病还是先治病吧”文中提到be boosted，get boosted用来指打了加强针（疫苗），也有说booster shot/booster dose.

electronics /ˌel.ekˈtrɒn.ɪks/ 表示“电子学”，英文解释为“the scientific study of electric current and the technology that uses it”如：a degree in electronics 电子学学位。

The expanded subsidy program to encourage consumers to upgrade electronics, home appliances and smartphones will likely be a tailwind for Xiaomi, HSBC Global Research analysts said.

汇丰环球研究（HSBC Global Research）分析师表示，中国扩大补贴计划以鼓励消费者升级电子产品、家电和智能手机，这可能对小米构成利好。

subsidy /ˈsʌb.sɪ.di/ 表示“补助金；津贴，补贴”，英文解释为“money given as part of the cost of something, to help or encourage it to happen”举个🌰：The company received a substantial subsidy. 公司得到了大笔津贴。

appliance /əˈplaɪ.əns/ 表示“装置，器械；（尤指）家用电器”，英文解释为“a device, machine, or piece of equipment, especially an electrical one that is used in the house, such as a cooker or washing machine”如：electric/domestic/household appliances 电器/家用电器/家电。

tailwind /ˈteɪl.wɪnd/ 表示“顺风”，英文解释为“a wind blowing from behind a vehicle”

Xiaomi's Internet-of-Things devices business also stands to benefit from recent breakthroughs in artificial intelligence, HSBC said in a note. Several analysts have said that Chinese startup DeepSeek's reportedly cheap yet powerful model and its open-source nature could help lower the costs of AI adoption in businesses involved in AI technologies.

汇丰在一份报告中表示，人工智能（AI）近期的突破也将令小米的物联网设备业务受益。几位分析师表示，中国初创公司DeepSeek据称价格低廉但功能强大的模型及其开源性质，可能有助于降低涉足AI技术的企业的采用成本。

the internet of things /ˌɪn.tə.net əv ˈθɪŋz/ 表示“物联网”，英文解释为“objects with computing devices in them that are able to connect to each other and exchange data using the internet”举个🌰：Cloud applications will be used by billions of devices of all kinds, all connected to the internet of things. 云应用将被数以十亿计的各类设备使用，所有设备都与物联网相连。

startup / start-up /ˈstɑːt.ʌp/ 表示“刚起步的小企业，新兴小型企业；初创公司”，英文解释为“a small business that has just been started”如：start-up costs 创业成本，举个🌰：Start-ups are very vulnerable in the business world. 商界中刚起步的小企业非常脆弱。

表示“（免费并允许公众对源程序代码进行修改的）开放源码的”，英文解释为“Open-source software is free to use, and the original program can be changed by anyone.”

HSBC Global Research has a buy rating on the stock, with a raised target price of HK$49.90.

汇丰环球研究维持对小米股票的买入评级，将目标价上调至49.90港元。

表示“‘买入’评级”，英文解释为“a statement that the shares of a particular company are worth buying”

Xiaomi has also experienced early success with its foray into China's crowded and competitive electric-vehicle market. Sales of its first car, the battery-electric SU7, have been robust, and Xiaomi is scheduled to launch the SU7 Ultra, a high-performance variant aimed the premium market, at the end of February. That could serve as the next catalyst for the stock, according to HSBC.

小米进军拥挤且竞争激烈的中国电动汽车市场也取得了初步成功。小米首款车型纯电动SU7的销量强劲，该公司计划在2月底推出面向高端市场的高性能版本SU7 Ultra。汇丰表示，这可能会成为小米股票的下一个催化剂。

foray /ˈfɒr.eɪ/ 1）表示“涉足；初次尝试”，英文解释为“If you make a foray into a new or unfamiliar type of activity, you start to become involved in it.”举个🌰：The Italian fashion house, has made a discreet foray into furnishings. 该意大利时装公司已谨慎地涉足室内装饰业。

2）表示“（带有刺激性或冒险性的）短程旅行；（尤指有明确目的的）短暂访问”，英文解释为“You can refer to a short trip that you make as a foray if it seems to involve excitement or risk, for example, because it is to an unfamiliar place or because you are looking for a particular thing.”举个🌰：Most guests make at least one foray into the town. 大多数客人至少去过一次城里。

3）表示“突袭，闪电式侵袭”，英文解释为“If a group of soldiers make a foray into enemy territory, they make a quick attack there, and then return to their own territory.”

🎬电影《福尔摩斯先生》（Mr Holmes）中的台词：My first foray into the world of fiction. 我完成了小说的处女作/首次涉足小说领域。

📺美剧《权力的游戏》（Game of Thrones）第3季中的台词提到：I led the foray when the enemies were at the gate 敌人攻至城门 是我带人突袭。

robust /rəʊˈbʌst/ 表示“（人或动物）强壮的，茁壮的；（东西或系统）坚固的，耐用的，结实的；强劲的；富有活力的；强健的；强壮的”，英文解释为“(of a person or animal) strong and healthy, or (of an object or system) strong and unlikely to break or fail”举个🌰：He looks robust and healthy enough. 他看起来非常强壮健康。

📍这个词来自拉丁语“robustus”，意味着“强壮的”。用来形容结构“坚固”的或系统“强健”的。想象新软件更加“强健”，出现问题更少。近义词：sturdy（结实的），同根词：robustness（强健），常用短语：robust system（强健的系统）

📍在计算机科学、控制科学与工程等领域有个词叫“鲁棒性”，就是从robustness音译而来，可以用于反映一个系统在面临着内部结构或外部环境的改变时也能够维持其功能稳定运行的能力。

variant /ˈveə.ri.ənt/ 表示“变体；变种；变形”，英文解释为“something that is slightly different from other similar things”举个🌰：There are many colas on the market now, all variants on the original drink. 现在市场上有多种可乐，都跟最初的差别不大。

premium /ˈpriːmɪəm/ 1）作形容词，表示“高昂的；优质的；高端的”，英文解释为“very high (and higher than usual); of high quality”如：premium prices/products 奇高的价格；优质产品。

2）作名词，表示“奖金，津贴；加价；附加费”，英文解释为“A premium is a sum of money that you have to pay for something in addition to the normal cost.”举个🌰：Even if customers want "solutions," most are not willing to pay a premium for them. 即使顾客们想要“解决方案”，大部分人不愿意为此支付附加费。

catalyst /ˈkætəlɪst/ 原意表示“催化剂”（a substance that makes a chemical reaction happen faster without being changed itself），也有“促使变化的人；引发变化的因素”的含义，英文解释为“a person or thing that causes a change”举个🌰：I see my role as being a catalyst for change. 我认为我的角色是促成变革。

📍 2020年政府工作报告Part 15中就出现类似的说法，以开放促改革促发展 make opening up a catalyst for reform and development，字面意思就是：让开放成为改革和发展的催化剂，以...(sth.) 促进 ... 就可以说：make sth. a catalyst for ...

Xiaomi Chief Executive and founder Lei Jun said in Weibo posts this week that the company targets selling more than 10,000 SU7 Ultras this year and is working to boost the production capacity of its EVs.

小米首席执行官兼创始人雷军本周在微博（Weibo）发帖称，该公司今年的目标是销售超过1万辆SU7 Ultra，并在研究如何进一步提升电动汽车产能。

capacity /kəˈpæs.ə.ti/ 1）表示“容积，容量；生产能力；（尤指某人或某组织的）办事能力”，英文解释为“the total amount that can be contained or produced, or (especially of a person or organization) the ability to do a particular thing”举个🌰：The stadium has a seating capacity of 50,000. 这个体育场能容纳5万人。

2）表示“职位；工作；角色”，英文解释为“a particular position or job”举个🌰：She was speaking in her capacity as a novelist, rather than as a television presenter. 她是作为小说家而不是电视节目主持人在发言。

The smartphone maker is also slated to release the Xiaomi 15 Ultra, a premium model, later this month.

这家智能手机制造商还计划在本月晚些时候发布高端机型小米15 Ultra。

slate /sleɪt/ 作动词，表示“预定；计划；安排”，英文解释为“to plan that sth will happen at a particular time in the future”举个🌰：The houses were first slated for demolition five years ago. 这些房子在五年前就确定要拆除了。

📺英剧《追影逐凶》（Chasing Shadows）中的台词提到：There was another boy that was found in a building that was slated for demolition. 另外还有个男孩也是在一座确定要被拆除的建筑里被人发现的。

slate /sleɪt/ 作名词，可以表示“候选名单；（尤指在政治活动中的）候选人名单”，英文解释为“a list of people who are being considered for a particular job or position, especially in politics”举个🌰：His novel was chosen from a slate of ten finalists. 他的小说是从十篇最终候选作品中选出的。

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