Xiaomi founder Lei Jun introduces the SU7 Ultra during a launch event held in Beijing, China, Thursday, Feb. 27, 2025. (AP Photo/Ng Han Guan)

Chinese technology stocks advanced sharply on Friday, with Alibaba Group Holding Ltd. jumping 11.41% in Hong Kong trading, as investors responded to positive earnings guidance and anticipated monetary policy easing from Beijing.

Ren Zhengfei from Huawei, Lei Jun from Xiaomi and Wang Xinxing from Unitree all gave speeches at the high-profile meeting.

The Xiaomi 15 Ultra may be the company's latest smartphone, but it has a superpower that can transform it into flagship-level handheld camera.

Xiaomi launched its first premium EV in China called the SU7 Ultra, which starts at 529,000 Chinese yuan ($72,627).

Xiaomi, which produces smartphones and consumer electronics, delivered 135,000 E.V.s last year after tapping China’s robust manufacturing supply chain.

Lei has done what Tesla, Apple, Ford Motor and General Motors have been unable to do: create a hit, inexpensive electric vehicle—and fast. Tesla took more than a decade from its founding to reach the 300,

Same flat sides, same square camera, same small size... did Xiaomi forget to upgrade its phone this year? The latest compact flagship from the booming Chinese brand seems spectacularly unspectacular - until you see just how much AI and processing power it has inside.

China's Xiaomi on Thursday slashed its initial sticker price for its luxury electric sedan SU7 Ultra by over a third to 529,900 yuan ($72,931.72), mounting a bigger challenge to the likes of Tesla and Porsche in the world's largest auto market.

Xiaomi, the world's third-largest smartphone maker, launched its new flagship smartphone Xiaomi 15 Ultra on Thursday, with the base model starting at 6,499 yuan ($894.19).

Xiaomi cut the price of its luxury electric sedan SU7 Ultra by 35% to 529,900 yuan ($72,932) from 814,900 yuan ($111,842).

As the company’s most advanced smartphone to date, the Xiaomi 15 Ultra boasts the latest Snapdragon 8 Elite processor, a 200MP camera, a 2K display, a 6,000mAh battery, and cutting-edge satellite communication support.