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Kevinlee
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IP属地:广东
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Kevinlee
09-18
$美团ADR(MPNGY)$
美团通过旗下汉海信息技术(上海)有限公司多次参与宇树科技融资,包括2024年2月的B2轮和2024年9月的C轮融资 。天眼查显示,美团系合计持股约10.46%,其中汉海信息技术持股约8.25%,美团龙珠基金持股约1.1%-1.4%,是宇树科技的第一大外部股东,仅次于创始人王兴兴 。
Kevinlee
09-02
新能源车上越来越多的激光摄像头+机器人跑道的布局,离业绩的爆发期很近了,永远支持哈工大的校友企业[看涨] [看涨] [看涨]
瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观
Kevinlee
08-31
$霸王茶姬(CHA)$
预计7月份的业绩也不会好,估计要等8,9月,可能会好一些。重点关注中 业绩其实不错的
Kevinlee
08-26
加仓,加仓 [开心] [开心] [开心]
@价值投资为王:凯莱英:二季报炸裂,150指日可待!
Kevinlee
08-22
毛利率得到较大改善,在这样的市场环境下,难能可贵,不错的业绩财报
速腾聚创上半年营收7.8亿:来自ADAS收入同比降18% 净亏1.5亿
Kevinlee
08-15
你继续持有吧,兄弟
Kevinlee
07-27
阿里确实哪方面都不是最突出的了
Kevinlee
07-25
$Vor Biopharma Inc.(VOR)$
感觉跌到位了,建一点点仓位
Kevinlee
07-25
我觉得一定是有内幕的
Kevinlee
06-26
创始人自愿锁定多540天,股东说不减持,哪里来的高管和员工减持的消息呢?请分享
@和着泪关灯吃面:我开仓了
$小马智行(PONY)$
,拉高一下股价方便高管和员工减持,毕竟6.30马上到了,过了窗口就又关闭了。
Kevinlee
06-17
君实生物,目前涨幅最小,且催化剂最多,我觉得就它
Kevinlee
06-06
$特斯拉(TSLA)$
今天早晨起来一看,居然跌14个多点。美股真的一切皆有可能。 前几天一直坚定信念会回到300以内的,没有想到这么快,赶紧捡了些筹,希望继续再降一降,让我补个仓[鬼脸]
Kevinlee
06-04
拼多多对于供应链的破坏性非常大,中国开始走品牌出海路线,而拼多多的模式,是一个卖廉价供应链的模式,剥削中国工厂的模式,它的模式终将走向消亡
利润下降近四成,短期承压的财报中,藏着拼多多未来增长的秘密
Kevinlee
05-27
马来西亚人,更喜欢冷饮,而非茶
异动解读 | 霸王茶姬盘中大涨5.33%,马来西亚扩张计划及李宗伟加盟提振信心
Kevinlee
05-23
你应该多了解一下估值逻辑
Kevinlee
05-02
买入29号到期的Call,相信云业务,AI应用提效,苹果的战略合作将在15号的业绩说明会上有较好的指引
$ALB.HK 20250529 130.00 CALL$
Kevinlee
04-07
$信达生物(01801)$
坚定加仓
Kevinlee
04-04
$特斯拉(TSLA)$
昨天晚上满仓call,搞得高度紧张,还好结果不错,为自己点赞[鬼脸]
Kevinlee
2023-06-07
$天齐锂业(09696)$
该涨了
Kevinlee
2023-06-01
$天齐锂业(09696)$
碳酸锂5月31号重回30万每吨,相信锂资源会继续上升,提振股价
去老虎APP查看更多动态
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class=\"title\">\n瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-02 16:37 北京时间 <a href=https://www.zhitongcaijing.com/immediately.html?type=ganggu><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>【瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观】智通财经APP获悉,瑞银发布研报称,速腾聚创(02498.HK)管理层对公司前景持乐观态度,其中公司近期获得比亚迪控股(01211.HK)及吉利汽车(00175.HK)的重要订单,有望为ADAS激光雷达业务增长提供稳固支持。在机器人激光雷达业务方面,公司正加速渗透自动移动设备领域,并与MAMMOTION及九号...</p>\n\n<a href=\"https://www.zhitongcaijing.com/immediately.html?type=ganggu\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"80175":"吉利汽车-R","81211":"比亚迪股-R一百","689009":"九号公司","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","LU0823414478.USD":"法巴经典能源转换基金","SG9999006514.SGD":"United Asia Consumer Fund SGD","LU0823038988.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS \"A2\" (USD) ACC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) 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(USD) INC","HYDD.SI":"BYD HK SDR 10to1","GELYY":"吉利汽车ADR","SG9999006597.SGD":"United China-India Dynamic Growth SGD","00285":"比亚迪电子"},"source_url":"https://www.zhitongcaijing.com/immediately.html?type=ganggu","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2564877987","content_text":"【瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观】智通财经APP获悉,瑞银发布研报称,速腾聚创(02498.HK)管理层对公司前景持乐观态度,其中公司近期获得比亚迪控股(01211.HK)及吉利汽车(00175.HK)的重要订单,有望为ADAS激光雷达业务增长提供稳固支持。在机器人激光雷达业务方面,公司正加速渗透自动移动设备领域,并与MAMMOTION及九号公司紧密合作;集团目标于2026年毛利率达30%,长期毛利率目标为35%。基于订单获取进展顺利,该行将2026至27年盈利预测上调4%,目标价由50港元升至52.8港元,维持“买入”评级。","news_type":1,"symbols_score_info":{"80175":0.6,"81211":0.6,"689009":1,"00175":1,"002594":1,"00285":1,"01211":1,"02498":1,"BYDDY":0.6,"EVS.SI":0.6,"GELYY":0.6,"HYDD.SI":0.6}},"isVote":1,"tweetType":1,"viewCount":260,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":473559107400336,"gmtCreate":1756646508686,"gmtModify":1756646510224,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3547550248478329","authorIdStr":"3547550248478329"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CHA\">$霸王茶姬(CHA)$ </a> 预计7月份的业绩也不会好,估计要等8,9月,可能会好一些。重点关注中 业绩其实不错的","listText":"<a href=\"https://laohu8.com/S/CHA\">$霸王茶姬(CHA)$ </a> 预计7月份的业绩也不会好,估计要等8,9月,可能会好一些。重点关注中 业绩其实不错的","text":"$霸王茶姬(CHA)$ 预计7月份的业绩也不会好,估计要等8,9月,可能会好一些。重点关注中 业绩其实不错的","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/473559107400336","isVote":1,"tweetType":1,"viewCount":649,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":471646657544616,"gmtCreate":1756179034422,"gmtModify":1756179970036,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3547550248478329","authorIdStr":"3547550248478329"},"themes":[],"htmlText":"加仓,加仓 [开心] [开心] [开心]","listText":"加仓,加仓 [开心] [开心] [开心]","text":"加仓,加仓 [开心] [开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/471646657544616","repostId":"471422041661816","repostType":1,"repost":{"id":471422041661816,"gmtCreate":1756124096051,"gmtModify":1756124192479,"author":{"id":"21347731130544","authorId":"21347731130544","name":"价值投资为王","avatar":"https://static.tigerbbs.com/89ffffc59ff9ac9cb9cb74f596418d44","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"21347731130544","authorIdStr":"21347731130544"},"themes":[],"title":"凯莱英:二季报炸裂,150指日可待!","htmlText":"刚刚,凯莱英公布了二季报,业绩炸裂! 其中,二季度营收16.5亿,同比增长27.2%,增速较一季度的10%、去年四季度的15.6%明显提速: 二季度净利润2.9亿,同比增长34%,较一季度16%的增长明显提速! 经营层面,凯莱英的变化令人兴奋,其中: 来自欧洲市场客户收入 5.48 亿元,同比增长超 200%;美国客户收入占比降到56%,不再单一依赖美国市场: 核心的小分子业务保持稳健增长,实现收入24.29 亿元,同比增长 10.64%,毛利率 47.79%,同比提升0.6 个百分点; 新兴业务取得快速发展,实现收入 7.56 亿元,同比增长 51.22%,毛利率 29.79%,同比提升 9.5 个百分点。截至本报告披露日,在手订单金额同比增长超 40%! 在新兴业务中,化学大分子(含多肽、寡核苷酸、毒素连接体及脂质 Lipid 业务)CDMO 业务板块收入3.79 亿元,同比增长超 130%,在手订单金额同比增长超90%,其中境外占比超 40%。预计 2025 年下半年该业务板块收入仍将保持翻倍以上增速。 截至报告期末,多肽固相合成产能约 30,000L,预计 2025 年底多肽固相合成总产能将达 44,000L,以满足在手订单未来产能需求。 药明康德预计 2025 年底多肽固相合成反应釜总体积将提升至超 100,000L,凯莱英作为老二,能有药明康德近一半的产能,相当不错了,靠多肽,有望再造一个凯莱英! 制剂 CDMO 业务板块收入 1.18 亿元,同比增长 7.81%;报告期内实现首个制剂产品在美国的商业化供应。截至本报告披露日,在手订单金额同比增长超35%,其中境外占比超 30%。 生物大分子 CDMO 业务板块收入 0.90 亿元,同比增长 70.74%,在手订单金额同比增长超 60%,其中境外占比超 35%。预计 2025 年该业务板块收入将实现翻倍以上增长。","listText":"刚刚,凯莱英公布了二季报,业绩炸裂! 其中,二季度营收16.5亿,同比增长27.2%,增速较一季度的10%、去年四季度的15.6%明显提速: 二季度净利润2.9亿,同比增长34%,较一季度16%的增长明显提速! 经营层面,凯莱英的变化令人兴奋,其中: 来自欧洲市场客户收入 5.48 亿元,同比增长超 200%;美国客户收入占比降到56%,不再单一依赖美国市场: 核心的小分子业务保持稳健增长,实现收入24.29 亿元,同比增长 10.64%,毛利率 47.79%,同比提升0.6 个百分点; 新兴业务取得快速发展,实现收入 7.56 亿元,同比增长 51.22%,毛利率 29.79%,同比提升 9.5 个百分点。截至本报告披露日,在手订单金额同比增长超 40%! 在新兴业务中,化学大分子(含多肽、寡核苷酸、毒素连接体及脂质 Lipid 业务)CDMO 业务板块收入3.79 亿元,同比增长超 130%,在手订单金额同比增长超90%,其中境外占比超 40%。预计 2025 年下半年该业务板块收入仍将保持翻倍以上增速。 截至报告期末,多肽固相合成产能约 30,000L,预计 2025 年底多肽固相合成总产能将达 44,000L,以满足在手订单未来产能需求。 药明康德预计 2025 年底多肽固相合成反应釜总体积将提升至超 100,000L,凯莱英作为老二,能有药明康德近一半的产能,相当不错了,靠多肽,有望再造一个凯莱英! 制剂 CDMO 业务板块收入 1.18 亿元,同比增长 7.81%;报告期内实现首个制剂产品在美国的商业化供应。截至本报告披露日,在手订单金额同比增长超35%,其中境外占比超 30%。 生物大分子 CDMO 业务板块收入 0.90 亿元,同比增长 70.74%,在手订单金额同比增长超 60%,其中境外占比超 35%。预计 2025 年该业务板块收入将实现翻倍以上增长。","text":"刚刚,凯莱英公布了二季报,业绩炸裂! 其中,二季度营收16.5亿,同比增长27.2%,增速较一季度的10%、去年四季度的15.6%明显提速: 二季度净利润2.9亿,同比增长34%,较一季度16%的增长明显提速! 经营层面,凯莱英的变化令人兴奋,其中: 来自欧洲市场客户收入 5.48 亿元,同比增长超 200%;美国客户收入占比降到56%,不再单一依赖美国市场: 核心的小分子业务保持稳健增长,实现收入24.29 亿元,同比增长 10.64%,毛利率 47.79%,同比提升0.6 个百分点; 新兴业务取得快速发展,实现收入 7.56 亿元,同比增长 51.22%,毛利率 29.79%,同比提升 9.5 个百分点。截至本报告披露日,在手订单金额同比增长超 40%! 在新兴业务中,化学大分子(含多肽、寡核苷酸、毒素连接体及脂质 Lipid 业务)CDMO 业务板块收入3.79 亿元,同比增长超 130%,在手订单金额同比增长超90%,其中境外占比超 40%。预计 2025 年下半年该业务板块收入仍将保持翻倍以上增速。 截至报告期末,多肽固相合成产能约 30,000L,预计 2025 年底多肽固相合成总产能将达 44,000L,以满足在手订单未来产能需求。 药明康德预计 2025 年底多肽固相合成反应釜总体积将提升至超 100,000L,凯莱英作为老二,能有药明康德近一半的产能,相当不错了,靠多肽,有望再造一个凯莱英! 制剂 CDMO 业务板块收入 1.18 亿元,同比增长 7.81%;报告期内实现首个制剂产品在美国的商业化供应。截至本报告披露日,在手订单金额同比增长超35%,其中境外占比超 30%。 生物大分子 CDMO 业务板块收入 0.90 亿元,同比增长 70.74%,在手订单金额同比增长超 60%,其中境外占比超 35%。预计 2025 年该业务板块收入将实现翻倍以上增长。","images":[{"img":"https://static.tigerbbs.com/8978bc5d2a90720fa3271dd083404694","width":"1344","height":"612"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/471422041661816","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":244,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":470191835574528,"gmtCreate":1755824467663,"gmtModify":1755824469473,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3547550248478329","authorIdStr":"3547550248478329"},"themes":[],"htmlText":"毛利率得到较大改善,在这样的市场环境下,难能可贵,不错的业绩财报","listText":"毛利率得到较大改善,在这样的市场环境下,难能可贵,不错的业绩财报","text":"毛利率得到较大改善,在这样的市场环境下,难能可贵,不错的业绩财报","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/470191835574528","repostId":"2561935412","repostType":2,"repost":{"id":"2561935412","kind":"highlight","pubTimestamp":1755817852,"share":"https://www.laohu8.com/m/news/2561935412?lang=&edition=full","pubTime":"2025-08-22 07:10","market":"us","language":"zh","title":"速腾聚创上半年营收7.8亿:来自ADAS收入同比降18% 净亏1.5亿","url":"https://stock-news.laohu8.com/highlight/detail?id=2561935412","media":"雷递网","summary":"速腾聚创(股票代码:02498.HK)日前发布截至2025年6月30日的财报。财报显示,速腾聚创2025年上半年营收为7.83亿元,较上年同期的7.27亿元增长7.7%,主要是由于机器人及其他的产品销售增加。","content":"<html><body><p><img src=\"https://static.tigerbbs.com/c41960f650184174a60fd013a4bd5ec9\" title=\"1.jpeg\"/></p><p><span><span><span>雷递网 雷建平 8月22日</span></span></span></p><p><span><span><a href=\"https://laohu8.com/S/02498\">速腾聚创</a>(股票代码:02498.HK)日前发布截至2025年6月30日的财报。财报显示,速腾聚创2025年上半年营收为7.83亿元,较上年同期的7.27亿元增长7.7%,主要是由于机器人及其他的产品销售增加。</span></span></p><p><img src=\"https://static.tigerbbs.com/6684551585294a748e0c27e8323b2267\" title=\"2.jpeg\"/></p><p><span><span>速腾聚创2025年上半年运营亏损为1.97亿元,上年同期运营亏损为3.22亿元;净亏损为1.49亿元,较上年同期的净亏损2.67亿元收窄44.5%;公司拥有人应占亏损1.51亿,上年同期的公司拥有人应占亏损为2.69亿元。</span></span></p><p><img src=\"https://static.tigerbbs.com/ef21b2ac38ec423f8cc792a7cb85b586\" title=\"3.jpeg\"/></p><p><span><span>速腾聚创2025年上半年经调整净亏1.14亿元,上年同期的经调整净亏损为2亿元。</span></span></p><p><span><span><span>来自ADAS的收入为5亿 同比降17.9%</span></span></span></p><p><span><span>速腾聚创2025年上半年来自ADAS的收入为5亿元,较上年同期的6.09亿元下降17.9%;用于机器人及其他的收入为2.21亿元,较上年同期的7748万元增长1.43亿元,增幅高达184.8%。</span></span></p><p><img src=\"https://static.tigerbbs.com/9601a677b285497fb4339e146c3a399c\" title=\"4.jpeg\"/></p><p><span><span>速腾聚创2025年上半年的激光雷达产品的总销量由2024年同期的约243,400台增加至2025年上半年的约266,800台。</span></span></p><p><span><span>用于ADAS应用的激光雷达产品的销售量由2024年同期的约234,500台减少至2025年上半年的约220,500台,主要是由于向两家主要整车厂客户销售的激光雷达产品减少。</span></span></p><p><span><span>其中一名客户选择在其车辆上安装由其战略一级供应商开发的激光雷达产品,而另一名客户不再于其车辆上安装激光雷达产品。该减少部分被向另外两家中国主要整车厂客户销售的激光雷达产品增加而抵销。</span></span></p><p><span><span>用于ADAS应用的产品平均单价由2024年同期的每台约2,600元减少至2025年上半年的每台约2,300元。用于ADAS应用的产品平均单价减少主要由于2025年上半年价格较低的MX激光雷达产品销量增加。</span></span></p><p><span><span>速腾聚创2025年上半年用于机器人及其他产品的激光雷达产品的总销量由2024年同期的约8,900台增加至2025年上半年的约46,300台,主要是由于2025年上半年机器人客户对的新E1R及Airy激光雷达产品以及Helios及Bpearl系列等机械式激光雷达产品的需求增加。</span></span></p><p><span><span>产品的平均单价则由截至2024年上半年的每台约8,700元减少至2025年同期的每台约4,800元,主要是由于E1R及Airy产品的单价低于Ruby、Helios及Bpearl系列等机械式激光雷达产品的单价。</span></span></p><p><span><span><span>上半年研发开支3亿 同比降1.5%</span></span></span></p><p><span><span>速腾聚创2025年上半年毛利为2亿元,较上年同期的9855万元增长106%;毛利率为25.9%,较上年同期的13.6%提升12.3个百分点。</span></span></p><p><img src=\"https://static.tigerbbs.com/eb4a5fb558654c82beab0f552afa6519\" title=\"5.jpeg\"/></p><p><span><span>速腾聚创2025年上半年用于ADAS的毛利为8723万元,毛利率为17.4%;用于机器人及其他的毛利为9931万元,毛利率为45%;来自解决方案的毛利为2719万元,毛利率为53.1%。</span></span></p><p><span><span>速腾聚创2025年上半年研发开支为3.09亿元,较上年同期的3.13亿元下降1.5%;销售及营销开支为5690万元,较上年同期的5700万元下降0.2%;一般及行政开支为7830万元,较上年同期的8220万元下降4.8%。</span></span></p><p><span><span><span>拥有银行借款3.08亿</span></span></span></p><p><span><span>截至2025年6月30日止六个月,速腾聚创经营现金流出净额为5.64亿元,较截至2024年6月30日止六个月的1.16亿元有所增加。</span></span></p><p><span><span>截至2025年6月30日,速腾聚创拥有银行借款3.08亿元。</span></span></p><p><img src=\"https://static.tigerbbs.com/450a4256af464718a601d147cb6f961f\" title=\"6.jpeg\"/></p><p><span><span>截至2025年6月30日,速腾聚创资产总额为49.36亿元,上年同期为41.39亿元;负债总额为11亿元,权益总额为38.4亿元。</span></span></p><p><span><span>截至2025年6月30日,速腾聚创持有的现金及现金等价物、受限制现金及受限制定期存款为30.19亿元,而截至2024年12月31日为28.41亿元。</span></span></p><p><span><span>截至昨日收盘,速腾聚创股价为34.5港元,市值为163亿港元。</span></span></p><p><span><span>———————————————</span></span></p><p><span><span>雷递由媒体人雷建平创办,若转载请写明来源。</span></span></p></body></html>","source":"leinews_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>速腾聚创上半年营收7.8亿:来自ADAS收入同比降18% 净亏1.5亿</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n速腾聚创上半年营收7.8亿:来自ADAS收入同比降18% 净亏1.5亿\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-08-22 07:10 北京时间 <a href=https://www.leinews.com/n30928/detail.html><strong>雷递网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>雷递网 雷建平 8月22日速腾聚创(股票代码:02498.HK)日前发布截至2025年6月30日的财报。财报显示,速腾聚创2025年上半年营收为7.83亿元,较上年同期的7.27亿元增长7.7%,主要是由于机器人及其他的产品销售增加。速腾聚创2025年上半年运营亏损为1.97亿元,上年同期运营亏损为3.22亿元;净亏损为1.49亿元,较上年同期的净亏损2.67亿元收窄44.5%;公司拥有人应占亏损...</p>\n\n<a href=\"https://www.leinews.com/n30928/detail.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://leidinews-1256465536.cos.ap-chengdu.myqcloud.com/u_News/20250822/6389144343603226834357879.jpeg","relate_stocks":{"02498":"速腾聚创"},"source_url":"https://www.leinews.com/n30928/detail.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2561935412","content_text":"雷递网 雷建平 8月22日速腾聚创(股票代码:02498.HK)日前发布截至2025年6月30日的财报。财报显示,速腾聚创2025年上半年营收为7.83亿元,较上年同期的7.27亿元增长7.7%,主要是由于机器人及其他的产品销售增加。速腾聚创2025年上半年运营亏损为1.97亿元,上年同期运营亏损为3.22亿元;净亏损为1.49亿元,较上年同期的净亏损2.67亿元收窄44.5%;公司拥有人应占亏损1.51亿,上年同期的公司拥有人应占亏损为2.69亿元。速腾聚创2025年上半年经调整净亏1.14亿元,上年同期的经调整净亏损为2亿元。来自ADAS的收入为5亿 同比降17.9%速腾聚创2025年上半年来自ADAS的收入为5亿元,较上年同期的6.09亿元下降17.9%;用于机器人及其他的收入为2.21亿元,较上年同期的7748万元增长1.43亿元,增幅高达184.8%。速腾聚创2025年上半年的激光雷达产品的总销量由2024年同期的约243,400台增加至2025年上半年的约266,800台。用于ADAS应用的激光雷达产品的销售量由2024年同期的约234,500台减少至2025年上半年的约220,500台,主要是由于向两家主要整车厂客户销售的激光雷达产品减少。其中一名客户选择在其车辆上安装由其战略一级供应商开发的激光雷达产品,而另一名客户不再于其车辆上安装激光雷达产品。该减少部分被向另外两家中国主要整车厂客户销售的激光雷达产品增加而抵销。用于ADAS应用的产品平均单价由2024年同期的每台约2,600元减少至2025年上半年的每台约2,300元。用于ADAS应用的产品平均单价减少主要由于2025年上半年价格较低的MX激光雷达产品销量增加。速腾聚创2025年上半年用于机器人及其他产品的激光雷达产品的总销量由2024年同期的约8,900台增加至2025年上半年的约46,300台,主要是由于2025年上半年机器人客户对的新E1R及Airy激光雷达产品以及Helios及Bpearl系列等机械式激光雷达产品的需求增加。产品的平均单价则由截至2024年上半年的每台约8,700元减少至2025年同期的每台约4,800元,主要是由于E1R及Airy产品的单价低于Ruby、Helios及Bpearl系列等机械式激光雷达产品的单价。上半年研发开支3亿 同比降1.5%速腾聚创2025年上半年毛利为2亿元,较上年同期的9855万元增长106%;毛利率为25.9%,较上年同期的13.6%提升12.3个百分点。速腾聚创2025年上半年用于ADAS的毛利为8723万元,毛利率为17.4%;用于机器人及其他的毛利为9931万元,毛利率为45%;来自解决方案的毛利为2719万元,毛利率为53.1%。速腾聚创2025年上半年研发开支为3.09亿元,较上年同期的3.13亿元下降1.5%;销售及营销开支为5690万元,较上年同期的5700万元下降0.2%;一般及行政开支为7830万元,较上年同期的8220万元下降4.8%。拥有银行借款3.08亿截至2025年6月30日止六个月,速腾聚创经营现金流出净额为5.64亿元,较截至2024年6月30日止六个月的1.16亿元有所增加。截至2025年6月30日,速腾聚创拥有银行借款3.08亿元。截至2025年6月30日,速腾聚创资产总额为49.36亿元,上年同期为41.39亿元;负债总额为11亿元,权益总额为38.4亿元。截至2025年6月30日,速腾聚创持有的现金及现金等价物、受限制现金及受限制定期存款为30.19亿元,而截至2024年12月31日为28.41亿元。截至昨日收盘,速腾聚创股价为34.5港元,市值为163亿港元。———————————————雷递由媒体人雷建平创办,若转载请写明来源。","news_type":1,"symbols_score_info":{"02498":1}},"isVote":1,"tweetType":1,"viewCount":323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":467852810280960,"gmtCreate":1755220698453,"gmtModify":1755220700381,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3547550248478329","authorIdStr":"3547550248478329"},"themes":[],"htmlText":"你继续持有吧,兄弟","listText":"你继续持有吧,兄弟","text":"你继续持有吧,兄弟","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/467852810280960","isVote":1,"tweetType":1,"viewCount":786,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":460962789077728,"gmtCreate":1753548922276,"gmtModify":1753548924327,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3547550248478329","authorIdStr":"3547550248478329"},"themes":[],"htmlText":"阿里确实哪方面都不是最突出的了","listText":"阿里确实哪方面都不是最突出的了","text":"阿里确实哪方面都不是最突出的了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/460962789077728","isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":460576755200200,"gmtCreate":1753454692412,"gmtModify":1753454693623,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3547550248478329","authorIdStr":"3547550248478329"},"themes":[],"htmlText":"<a 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20:40","market":"us","language":"zh","title":"利润下降近四成,短期承压的财报中,藏着拼多多未来增长的秘密","url":"https://stock-news.laohu8.com/highlight/detail?id=2540066183","media":"鳌头财经","summary":"数据显示,荣昌卤鹅的网络曝光率增长了4050%。01“牺牲短期业绩” 拼多多说到做到5月27日,拼多多公布了2025年第一季度未经审计财务业绩,财报显示,报告期内拼多多实现营收956.722亿元,同比增长10%,增速有所放缓;实现营业利润160.856亿元,同比下降38%;实现归属于普通股股东的净利润147.42亿元,同比下降47%。鳌头财经了解到,目前“伊之福”在拼多多的销售已覆盖了周志宇工厂3亿年产值的一半。","content":"<html><body><article><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205452144v1529f1rgabbe53\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205457887v152tuiuq1nr10w\"/><p><strong>尽管牺牲了短期业绩,但<a href=\"https://laohu8.com/S/PDD\">拼多多</a>用千亿的投入换来了万亿的市场,在长期效应的加持下,杠杆效应带来的巨量增长终将在未来显现。</strong></p><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205458367v152d95rujfdjde\"/><p>记者丨宁晓敏</p><p>实习生丨汗青</p><p><strong>出品丨</strong>鳌头财经</p><p>卖了6年卤鹅的周露,最近在拼多多上实现了爆单,“一夜卖了1202单,从未见过这个阵仗。”</p><p>周露的卤鹅品牌叫做“渝飨记”,是一家主营荣昌卤鹅的老字号。前段时间,“卤鹅哥”林江在互联网上爆火,也给荣昌卤鹅带来了巨量曝光。数据显示,荣昌卤鹅的网络曝光率增长了4050%。</p><p>面对泼天的流量,如何做好承接、转化是商家们要面对的关键问题,平台强大数字化能力的帮助让这一问题得到了有效解决。周露介绍,通过入选拼多多“多多好特产计划”,渝飨记品牌知名度得到了进一步提升,甚至吸引到了外国客人咨询。</p><p>平台扶持的故事同样发生在号称“北方鞋都”的河北安新,此前安新县通过承接天津等地的加工订单,涌现出一片产业集群,然而随着市场环境的变化,当地商家不可避免地陷入到同质化竞争的局面中。</p><p>鞋商王智福便经历过这一过程,单价89元的爆款鞋,面世第二年便出现了29元、39元的“同款”,王智福不仅订单量锐减九成,仓库内还积压了十万双。王智福决定跳出价格竞争的桎梏,推出了成本近百元的碳板跑鞋,这一价格已经接近当地的平均<span>出货</span>价,过去的渠道难以消化吸收,找到新销路成为破局关键。</p><p>这款售价299的跑鞋一开始在传统电商平台并未获得销量,在转战拼多多后,得益于平台的“新质商家百亿扶持计划”,王智福的跑鞋成为主推产品,其店铺的月销售额迅速突破数百万元。</p><p>更多的周露、王智福在拼多多上涌现,根据分析机构估算,今年一季度拼多多GMV增速16%,GMV规模1.07万亿,拼多多对商家“扶持+减免”的政策,带动了上万亿的消费规模。</p><p>代价则是拼多多营收增速的放缓与利润率的下降,值得吗?</p><p><strong>0</strong><strong>1</strong></p><p><strong>“牺牲短期业绩” 拼多多说到做到</strong></p><p>5月27日,拼多多公布了2025年第一季度未经审计财务业绩,财报显示,报告期内拼多多实现营收956.722亿元,同比增长10%,增速有所放缓;实现<span>营业利润</span>160.856亿元,同比下降38%;实现归属于普通股股东的<span>净利润</span>147.42亿元,同比下降47%。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205458784v15225ioiznbwlv\"/><p>单从营收和利润数据看,增速放缓、利润腰斩,拼多多似乎增长乏力了,进一步分析财务数据便可发现,拼多多业绩放缓的背后则是公司“敢于牺牲短期业绩”的战略选择。</p><p>两个数据值得注意,一是拼多多一季度交易服务收入增速仅为6%,上季度该指标的增速为33%;二是销售和营销费用较去年同期的234亿元大增43%,净增额达到了100亿元。</p><p>“总体GMV增长了16%,但佣金收入只增长了6%,说明拼多多把更多的利润让给了平台商家,自身承担了交易规模上涨的更多成本。”行业分析人士向鳌头财经表示,“营销费用的上涨更是说明了拼多多用‘真金白银’补贴商家和消费者,而不是像某些平台,把很大一部分营销费用转嫁到了商户身上。”</p><p><a href=\"https://laohu8.com/S/601688\">华泰证券</a>的研报也指出,“交易服务收入不及预期表明了拼多多在商户扶持和佣金减免上的激进投入。”</p><p>在一季报发布后,拼多多执行董事、联席CEO赵佳臻表示,“平台对商家的帮扶范畴将从头部腰部拓展至中小商家,敢于啃高质量发展中的硬骨头。”对于啃硬骨头,拼多多有充足的底气,财报显示,一季度经营活动现金净额155.2亿元,现金及短期投资余额3645亿元。</p><p>换言之,尽管扶持商家的激进举措会让拼多多在收入和利润上承压,但牺牲短期业绩换来的是“商家-消费者-产业带”这一价值循环的重构,拼多多的战略选择更像是一种“蓄力”,以短期业绩的迟滞换取未来更高的成长性。</p><p><strong>0</strong><strong>2</strong></p><p><strong>千亿扶持换来万亿市场</strong></p><p><strong>拼多多找到了撬动增长的杠杆</strong></p><p>除了蓄力,还要蓄水。当下的消费环境正在快速变化,在产业端,同质化竞争困局随处可见,产业带升级需求迫切;在消费端,消费者个性化、功能化消费需求提升,供需匹配效率亟待提升。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205459958v152q8minq73rgy\"/><p>“中国庞大的消费市场可看作一个水池,其中主要部分仍是万千中小型商家,当中小型商家面临生存危机,水池的供水能力便会下降。”行业观察人士向鳌头财经表示。</p><p>拼多多要做的便是向水池中持续蓄水,构建出更加健康的商家生态系统。在拼多多董事长、联系CEO陈磊看来,“对商家的反哺和投入是该阶段平台必须承担的社会责任,只有优先保障用户和商家的利益,才能创造更优质的平台生态。”</p><p>在产业端,拼多多在今年4月初推出了“千亿扶持”,计划未来三年内投入资金、流量等资源超过1000亿元,加码高质量电商生态建设,助推平台商家新质转型升级,全力构建用户、商家及平台多方共赢的商业生态;在消费端,“千亿扶持”落地了多项补贴政策普惠消费者,平台百亿补贴频道更是新增了“100亿商家回馈计划”,先后投入100亿元消费券。</p><p>在拼多多的持续扶持下,商家迎来了新的发展契机,金华市下属的永康县是浙江有名的“五金之都”,周志宇的厨具工厂便坐落于此。在过去,工厂的主要订单来自于海外代工,周志宇自创的品牌“伊之福”作为产业带白牌,在传统电商平台平没有较好的发展机会。</p><p>在入驻拼多多后,“伊之福”很快迎来爆单,周志宇坦言,拼多多对于商家的扶持,以及轻运营、重产品的平台逻辑是“伊之福”快速成长的关键。“相较其他平台,拼多多ROI更高,且运营相对简单,这从我们的人力配置便有体现,我们一名拼多多运营可以同时管理三家店铺,其他平台我们是6个运营同时负责一家店铺。”鳌头财经了解到,目前“伊之福”在拼多多的销售已覆盖了周志宇工厂3亿年产值的一半。</p><p>在消费市场中,除了大牌产品,还有无数像周露、王智福、周志宇一样的中小型商家,他们也是供给端的重要组成部分,他们的健康成长,带动了消费规模的增长,也为拼多多带来了上万亿消费的成效。</p><p>尽管牺牲了短期业绩,但拼多多用千亿的投入换来了万亿的市场,在长期效应的加持下,杠杆效应带来的巨量增长终将在未来显现。</p><p>从这一角度来看,拼多多的做法十分值得。</p><p>-------<strong>The end</strong>-------</p><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205515809v152qpy8jelcxxu\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205518071v152yd9xrejx63j\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205519248v152yglrolad5ez\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205524922v152120ybwkn33w\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205525346v152fkk6ehrxp2s\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205527484v152eutitx90gnb\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205528010v152ca56zj91p94\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205529320v1525kz1eo0m3lp\"/></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>利润下降近四成,短期承压的财报中,藏着拼多多未来增长的秘密</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ 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left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n利润下降近四成,短期承压的财报中,藏着拼多多未来增长的秘密\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-06-04 20:40 北京时间 <a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604205541a6fa4cf0&s=b><strong>鳌头财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>尽管牺牲了短期业绩,但拼多多用千亿的投入换来了万亿的市场,在长期效应的加持下,杠杆效应带来的巨量增长终将在未来显现。记者丨宁晓敏实习生丨汗青出品丨鳌头财经卖了6年卤鹅的周露,最近在拼多多上实现了爆单,“一夜卖了1202单,从未见过这个阵仗。”周露的卤鹅品牌叫做“渝飨记”,是一家主营荣昌卤鹅的老字号。前段时间,“卤鹅哥”林江在互联网上爆火,也给荣昌卤鹅带来了巨量曝光。数据显示,荣昌卤鹅的网络曝光率...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604205541a6fa4cf0&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604205541a6fa4cf0&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2540066183","content_text":"尽管牺牲了短期业绩,但拼多多用千亿的投入换来了万亿的市场,在长期效应的加持下,杠杆效应带来的巨量增长终将在未来显现。记者丨宁晓敏实习生丨汗青出品丨鳌头财经卖了6年卤鹅的周露,最近在拼多多上实现了爆单,“一夜卖了1202单,从未见过这个阵仗。”周露的卤鹅品牌叫做“渝飨记”,是一家主营荣昌卤鹅的老字号。前段时间,“卤鹅哥”林江在互联网上爆火,也给荣昌卤鹅带来了巨量曝光。数据显示,荣昌卤鹅的网络曝光率增长了4050%。面对泼天的流量,如何做好承接、转化是商家们要面对的关键问题,平台强大数字化能力的帮助让这一问题得到了有效解决。周露介绍,通过入选拼多多“多多好特产计划”,渝飨记品牌知名度得到了进一步提升,甚至吸引到了外国客人咨询。平台扶持的故事同样发生在号称“北方鞋都”的河北安新,此前安新县通过承接天津等地的加工订单,涌现出一片产业集群,然而随着市场环境的变化,当地商家不可避免地陷入到同质化竞争的局面中。鞋商王智福便经历过这一过程,单价89元的爆款鞋,面世第二年便出现了29元、39元的“同款”,王智福不仅订单量锐减九成,仓库内还积压了十万双。王智福决定跳出价格竞争的桎梏,推出了成本近百元的碳板跑鞋,这一价格已经接近当地的平均出货价,过去的渠道难以消化吸收,找到新销路成为破局关键。这款售价299的跑鞋一开始在传统电商平台并未获得销量,在转战拼多多后,得益于平台的“新质商家百亿扶持计划”,王智福的跑鞋成为主推产品,其店铺的月销售额迅速突破数百万元。更多的周露、王智福在拼多多上涌现,根据分析机构估算,今年一季度拼多多GMV增速16%,GMV规模1.07万亿,拼多多对商家“扶持+减免”的政策,带动了上万亿的消费规模。代价则是拼多多营收增速的放缓与利润率的下降,值得吗?01“牺牲短期业绩” 拼多多说到做到5月27日,拼多多公布了2025年第一季度未经审计财务业绩,财报显示,报告期内拼多多实现营收956.722亿元,同比增长10%,增速有所放缓;实现营业利润160.856亿元,同比下降38%;实现归属于普通股股东的净利润147.42亿元,同比下降47%。单从营收和利润数据看,增速放缓、利润腰斩,拼多多似乎增长乏力了,进一步分析财务数据便可发现,拼多多业绩放缓的背后则是公司“敢于牺牲短期业绩”的战略选择。两个数据值得注意,一是拼多多一季度交易服务收入增速仅为6%,上季度该指标的增速为33%;二是销售和营销费用较去年同期的234亿元大增43%,净增额达到了100亿元。“总体GMV增长了16%,但佣金收入只增长了6%,说明拼多多把更多的利润让给了平台商家,自身承担了交易规模上涨的更多成本。”行业分析人士向鳌头财经表示,“营销费用的上涨更是说明了拼多多用‘真金白银’补贴商家和消费者,而不是像某些平台,把很大一部分营销费用转嫁到了商户身上。”华泰证券的研报也指出,“交易服务收入不及预期表明了拼多多在商户扶持和佣金减免上的激进投入。”在一季报发布后,拼多多执行董事、联席CEO赵佳臻表示,“平台对商家的帮扶范畴将从头部腰部拓展至中小商家,敢于啃高质量发展中的硬骨头。”对于啃硬骨头,拼多多有充足的底气,财报显示,一季度经营活动现金净额155.2亿元,现金及短期投资余额3645亿元。换言之,尽管扶持商家的激进举措会让拼多多在收入和利润上承压,但牺牲短期业绩换来的是“商家-消费者-产业带”这一价值循环的重构,拼多多的战略选择更像是一种“蓄力”,以短期业绩的迟滞换取未来更高的成长性。02千亿扶持换来万亿市场拼多多找到了撬动增长的杠杆除了蓄力,还要蓄水。当下的消费环境正在快速变化,在产业端,同质化竞争困局随处可见,产业带升级需求迫切;在消费端,消费者个性化、功能化消费需求提升,供需匹配效率亟待提升。“中国庞大的消费市场可看作一个水池,其中主要部分仍是万千中小型商家,当中小型商家面临生存危机,水池的供水能力便会下降。”行业观察人士向鳌头财经表示。拼多多要做的便是向水池中持续蓄水,构建出更加健康的商家生态系统。在拼多多董事长、联系CEO陈磊看来,“对商家的反哺和投入是该阶段平台必须承担的社会责任,只有优先保障用户和商家的利益,才能创造更优质的平台生态。”在产业端,拼多多在今年4月初推出了“千亿扶持”,计划未来三年内投入资金、流量等资源超过1000亿元,加码高质量电商生态建设,助推平台商家新质转型升级,全力构建用户、商家及平台多方共赢的商业生态;在消费端,“千亿扶持”落地了多项补贴政策普惠消费者,平台百亿补贴频道更是新增了“100亿商家回馈计划”,先后投入100亿元消费券。在拼多多的持续扶持下,商家迎来了新的发展契机,金华市下属的永康县是浙江有名的“五金之都”,周志宇的厨具工厂便坐落于此。在过去,工厂的主要订单来自于海外代工,周志宇自创的品牌“伊之福”作为产业带白牌,在传统电商平台平没有较好的发展机会。在入驻拼多多后,“伊之福”很快迎来爆单,周志宇坦言,拼多多对于商家的扶持,以及轻运营、重产品的平台逻辑是“伊之福”快速成长的关键。“相较其他平台,拼多多ROI更高,且运营相对简单,这从我们的人力配置便有体现,我们一名拼多多运营可以同时管理三家店铺,其他平台我们是6个运营同时负责一家店铺。”鳌头财经了解到,目前“伊之福”在拼多多的销售已覆盖了周志宇工厂3亿年产值的一半。在消费市场中,除了大牌产品,还有无数像周露、王智福、周志宇一样的中小型商家,他们也是供给端的重要组成部分,他们的健康成长,带动了消费规模的增长,也为拼多多带来了上万亿消费的成效。尽管牺牲了短期业绩,但拼多多用千亿的投入换来了万亿的市场,在长期效应的加持下,杠杆效应带来的巨量增长终将在未来显现。从这一角度来看,拼多多的做法十分值得。-------The end-------","news_type":1,"symbols_score_info":{"PDD":1}},"isVote":1,"tweetType":1,"viewCount":846,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":439606152433696,"gmtCreate":1748354478727,"gmtModify":1748354480731,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3547550248478329","authorIdStr":"3547550248478329"},"themes":[],"htmlText":"马来西亚人,更喜欢冷饮,而非茶","listText":"马来西亚人,更喜欢冷饮,而非茶","text":"马来西亚人,更喜欢冷饮,而非茶","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/439606152433696","repostId":"1199050387","repostType":2,"repost":{"id":"1199050387","kind":"news","weMediaInfo":{"introduction":"个股异动一手消息解读","home_visible":1,"media_name":"异动解读","id":"1092702339","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"pubTimestamp":1748352830,"share":"https://www.laohu8.com/m/news/1199050387?lang=&edition=full","pubTime":"2025-05-27 21:33","market":"us","language":"zh","title":"异动解读 | 霸王茶姬盘中大涨5.33%,马来西亚扩张计划及李宗伟加盟提振信心","url":"https://stock-news.laohu8.com/highlight/detail?id=1199050387","media":"异动解读","summary":"霸王茶姬今日盘中大涨5.33%,引发市场关注。消息面上,霸王茶姬宣布了其在马来西亚的雄心勃勃的扩张计划,目标是在未来三年内开设300家直营门店。据悉,霸王茶姬通过其子公司与马来西亚联大集团成立合资企业,霸王茶姬持股60%。马来西亚作为霸王茶姬最大的海外市场,目前已有148家门店,占据当地新茶饮市场27%的份额。市场分析认为,霸王茶姬在马来西亚的成功经验有望为其进一步拓展东南亚及其他海外市场提供宝贵借鉴。","content":"<p>霸王茶姬(CHA)今日盘中大涨5.33%,引发市场关注。</p>\n\n<p>消息面上,霸王茶姬宣布了其在马来西亚的雄心勃勃的扩张计划,目标是在未来三年内开设300家直营门店。更引人注目的是,该公司与马来西亚羽毛球名将李宗伟展开合作,李宗伟将担任品牌大使。这一战略性举措极大地提振了投资者对霸王茶姬海外扩张前景的信心。</p>\n\n<p>据悉,霸王茶姬通过其子公司与马来西亚联大集团成立合资企业,霸王茶姬持股60%。马来西亚作为霸王茶姬最大的海外市场,目前已有148家门店,占据当地新茶饮市场27%的份额。此次扩张计划不仅体现了公司对马来西亚市场的信心,也展示了其全球化战略的决心。市场分析认为,霸王茶姬在马来西亚的成功经验有望为其进一步拓展东南亚及其他海外市场提供宝贵借鉴。</p>","source":"ai_movement_cn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>异动解读 | 霸王茶姬盘中大涨5.33%,马来西亚扩张计划及李宗伟加盟提振信心</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; 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style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">异动解读 </p>\n<p class=\"h-time\">2025-05-27 21:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>霸王茶姬(CHA)今日盘中大涨5.33%,引发市场关注。</p>\n\n<p>消息面上,霸王茶姬宣布了其在马来西亚的雄心勃勃的扩张计划,目标是在未来三年内开设300家直营门店。更引人注目的是,该公司与马来西亚羽毛球名将李宗伟展开合作,李宗伟将担任品牌大使。这一战略性举措极大地提振了投资者对霸王茶姬海外扩张前景的信心。</p>\n\n<p>据悉,霸王茶姬通过其子公司与马来西亚联大集团成立合资企业,霸王茶姬持股60%。马来西亚作为霸王茶姬最大的海外市场,目前已有148家门店,占据当地新茶饮市场27%的份额。此次扩张计划不仅体现了公司对马来西亚市场的信心,也展示了其全球化战略的决心。市场分析认为,霸王茶姬在马来西亚的成功经验有望为其进一步拓展东南亚及其他海外市场提供宝贵借鉴。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CHA":"霸王茶姬"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199050387","content_text":"霸王茶姬(CHA)今日盘中大涨5.33%,引发市场关注。\n消息面上,霸王茶姬宣布了其在马来西亚的雄心勃勃的扩张计划,目标是在未来三年内开设300家直营门店。更引人注目的是,该公司与马来西亚羽毛球名将李宗伟展开合作,李宗伟将担任品牌大使。这一战略性举措极大地提振了投资者对霸王茶姬海外扩张前景的信心。\n据悉,霸王茶姬通过其子公司与马来西亚联大集团成立合资企业,霸王茶姬持股60%。马来西亚作为霸王茶姬最大的海外市场,目前已有148家门店,占据当地新茶饮市场27%的份额。此次扩张计划不仅体现了公司对马来西亚市场的信心,也展示了其全球化战略的决心。市场分析认为,霸王茶姬在马来西亚的成功经验有望为其进一步拓展东南亚及其他海外市场提供宝贵借鉴。","news_type":1,"symbols_score_info":{"CHA":1}},"isVote":1,"tweetType":1,"viewCount":708,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":437840379593000,"gmtCreate":1747929858762,"gmtModify":1747929860355,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3547550248478329","authorIdStr":"3547550248478329"},"themes":[],"htmlText":"你应该多了解一下估值逻辑","listText":"你应该多了解一下估值逻辑","text":"你应该多了解一下估值逻辑","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/437840379593000","isVote":1,"tweetType":1,"viewCount":1340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":430896700436816,"gmtCreate":1746175204246,"gmtModify":1746175205906,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3547550248478329","authorIdStr":"3547550248478329"},"themes":[],"htmlText":"买入29号到期的Call,相信云业务,AI应用提效,苹果的战略合作将在15号的业绩说明会上有较好的指引 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碳酸锂5月31号重回30万每吨,相信锂资源会继续上升,提振股价","images":[{"img":"https://static.tigerbbs.com/72cfb99e118fe0f9b45595eb8587d860","width":"1088","height":"2400"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182676574994600","isVote":1,"tweetType":1,"viewCount":3058,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"hots":[{"id":479755635663064,"gmtCreate":1758151524165,"gmtModify":1758151526612,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3547550248478329","idStr":"3547550248478329"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/MPNGY\">$美团ADR(MPNGY)$ </a> 美团通过旗下汉海信息技术(上海)有限公司多次参与宇树科技融资,包括2024年2月的B2轮和2024年9月的C轮融资 。天眼查显示,美团系合计持股约10.46%,其中汉海信息技术持股约8.25%,美团龙珠基金持股约1.1%-1.4%,是宇树科技的第一大外部股东,仅次于创始人王兴兴 。","listText":"<a href=\"https://laohu8.com/S/MPNGY\">$美团ADR(MPNGY)$ </a> 美团通过旗下汉海信息技术(上海)有限公司多次参与宇树科技融资,包括2024年2月的B2轮和2024年9月的C轮融资 。天眼查显示,美团系合计持股约10.46%,其中汉海信息技术持股约8.25%,美团龙珠基金持股约1.1%-1.4%,是宇树科技的第一大外部股东,仅次于创始人王兴兴 。","text":"$美团ADR(MPNGY)$ 美团通过旗下汉海信息技术(上海)有限公司多次参与宇树科技融资,包括2024年2月的B2轮和2024年9月的C轮融资 。天眼查显示,美团系合计持股约10.46%,其中汉海信息技术持股约8.25%,美团龙珠基金持股约1.1%-1.4%,是宇树科技的第一大外部股东,仅次于创始人王兴兴 。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/479755635663064","isVote":1,"tweetType":1,"viewCount":2982,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":684245720,"gmtCreate":1660357280064,"gmtModify":1660357433019,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3547550248478329","idStr":"3547550248478329"},"themes":[],"htmlText":"就这么造吗?汽车都还没有整好,多产品线会影响主打汽车产品的竞争力,不看好。应该采用与手机厂商合作的开放心态。","listText":"就这么造吗?汽车都还没有整好,多产品线会影响主打汽车产品的竞争力,不看好。应该采用与手机厂商合作的开放心态。","text":"就这么造吗?汽车都还没有整好,多产品线会影响主打汽车产品的竞争力,不看好。应该采用与手机厂商合作的开放心态。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/684245720","repostId":"2258211982","repostType":2,"repost":{"id":"2258211982","kind":"news","pubTimestamp":1660137120,"share":"https://www.laohu8.com/m/news/2258211982?lang=&edition=full","pubTime":"2022-08-10 21:12","market":"us","language":"zh","title":"蔚来手机业务频出新传闻 跨界造手机背后有何生意经?","url":"https://stock-news.laohu8.com/highlight/detail?id=2258211982","media":"南方都市报","summary":"8月10日,蔚来的手机业务又现多条新传闻。据外媒报道,蔚来的第一款手机或将定位为高端旗舰,搭载高通的第二代骁龙8移动平台。在价格上,该手机起步价可能超过5000元,最高可达7000元。据推断,蔚来的第...","content":"<html><body><div>\n<p><img border=\"0\" height=\"276\" src=\"https://webquoteklinepic.eastmoney.com/GetPic.aspx?nid=116.09866&imageType=k&token=28dfeb41d35cc81d84b4664d7c23c49f&at=1\" width=\"578\"/></p><p><img border=\"0\" height=\"276\" src=\"https://webquoteklinepic.eastmoney.com/GetPic.aspx?nid=106.NIO&imageType=k&token=28dfeb41d35cc81d84b4664d7c23c49f&at=1\" width=\"578\"/></p><p> 8月10日,<span><a href=\"https://laohu8.com/S/NIO\">蔚来</a></span><span></span>的手机业务又现多条新传闻。</p> <p> 据外媒报道,<span href=\"http://quote.eastmoney.com/unify/r/106.NIO\" target=\"_blank\" web=\"1\"><a href=\"https://laohu8.com/S/NIO.SI\">蔚来</a></span>的第一款手机或将定位为高端旗舰,搭载<span><a href=\"https://laohu8.com/S/QCOM\">高通</a></span><span></span>的第二代骁龙8移动平台。在价格上,该手机起步价可能超过5000元,最高可达7000元。据推断,<span href=\"http://quote.eastmoney.com/unify/r/106.NIO\" target=\"_blank\" web=\"1\">蔚来</span>的第一款手机或将在明年上半年登场。针对相关传闻,蔚来汽车董事长李斌回应媒体称,“这应该是别人想象给我们的定义。目前在手机业务上,我们还要‘好好干活’,没有更多可以透露的。”</p> <p> 同日,还有市场消息传出,原美图移动高级副总裁易炜已加盟蔚来手机团队,担任软件部门负责人。此外,除了<span>高管</span>团队,手机团队的基层员工也在招兵买马。据招聘网站及行业媒体等多方信源,消息指出目前蔚来发布了大量与手机业务强关联的岗位,包括Camera App开发工程师、Android工程师、<a href=\"https://laohu8.com/S/5RE.SI\">智能</a>手表整机产品经理等。此外,还有“薪资涨幅10%-20%的居多”、“蔚来手机团队已超过了300人,员工背景包括OPPO、美图和华为等”相关传闻。</p> <p> 蔚来造手机已不是新鲜事。2022年7月28日,在福州用户见面会上,蔚来创始人、董事长、CEO李斌就曾表示:“蔚来要做的很简单,就是为蔚来用户造一部好用的手机,而且每年就开发一款手机,像<span><a href=\"https://laohu8.com/S/AAPL\">苹果</a></span><span></span>一样。”</p> <p> 8月4日,天眼查信息显示,“蔚来移动科技有限公司”正式成立,注册资本1亿美元,法定代表人为秦力洪。据悉,秦力洪是蔚来汽车的联合创始人,目前在蔚来多家公司担任要职。</p> <p> 蔚来造手机的初衷,李斌曾提及,蔚来汽车与<span href=\"http://quote.eastmoney.com/unify/r/105.AAPL\" target=\"_blank\" web=\"1\">苹果</span>手机的适配非常一般,比如蔚来主推的 UWB(超宽带数字钥匙),但<span href=\"http://quote.eastmoney.com/unify/r/105.AAPL\" target=\"_blank\" web=\"1\">苹果</span>不开放接口,所以蔚来车主们无法享受这一主打功能。据此,李斌称,“不造手机,相当于钥匙在对手手上”。</p> <p> 除了蔚来,近期,国内不少车企都有向手机市场跨界的动向。车企跨界造手机的背后有何生意经?江西<span>新能源</span><span></span>科技职业学院<span href=\"http://quote.eastmoney.com/unify/r/90.BK0493\" target=\"_blank\" web=\"1\">新能源</span>汽车技术研究院院长张翔向南都·湾财社记者分析,正如李斌所言,像蔚来与苹果一样,现阶段手机与汽车的部分功能并未打通,适配度低影响用户体验。但是,因数据等核心信息涉及商业机密,车企又不愿向手机厂商开放所有数据来提高用户体验。因此,车企自己造手机,就不用担心汽车的核心数据泄露,可以根据用户需求把握数据,将主动权放在自己手上。此外,造手机的门槛也不算高,对于车企而言,造手机的资金成本也是足够的。</p> <p> 针对手机厂商与车企未来的合作模式,张翔认为,未来车企跟手机企业跨界合作或成主流。因为手机企业造手机,无论是手机的综合性能、还是成本控制,都比车企造手机更好。车企造手机体量相对较小,对供应链的把控能力也较弱,可能将手机造成汽车的“专用机”。因此,与手机企业展开合作是大势所趋。合作模式下,车企汽车的智能网联的功能更加丰富,手机通过与汽车的连接也会增加销量,这对双方而言都是互利共赢的。</p> <p> 从自动驾驶的角度谈车企与手机企业的跨界合作,<span><a href=\"https://laohu8.com/S/JPM\">摩根大通</a></span><span></span>中国<span>证券</span><span></span>研究部及亚洲汽车行业研究团队主管赖以哲向南都·湾财社记者分析,随着汽车自动驾驶逐步应用与立法的落地,汽车未来或将变成手机的延伸。在驾驶员的眼睛和手可以完全解放之后,中间产生的商机将非常大,这是车企与手机厂商正在尝试探讨的话题。不过,从这个思路去看,最终能不能赚钱还为时尚早,要达到这个目标,自动驾驶至少要完全释放到L4才能有更多机会。此外,蔚来做手机的战略,应该还考虑到除驾驶员外其他乘客的使用习惯及娱乐模式,这都是车企造手机应考虑到的中长期策略。</p><p>(文章来源:南方都市报)</p>\n</div></body></html>","source":"stock_eastmoney","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>蔚来手机业务频出新传闻 跨界造手机背后有何生意经?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n蔚来手机业务频出新传闻 跨界造手机背后有何生意经?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-10 21:12 北京时间 <a href=http://finance.eastmoney.com/a/202208102476529765.html><strong>南方都市报</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>8月10日,蔚来的手机业务又现多条新传闻。 据外媒报道,蔚来的第一款手机或将定位为高端旗舰,搭载高通的第二代骁龙8移动平台。在价格上,该手机起步价可能超过5000元,最高可达7000元。据推断,蔚来的第一款手机或将在明年上半年登场。针对相关传闻,蔚来汽车董事长李斌回应媒体称,“这应该是别人想象给我们的定义。目前在手机业务上,我们还要‘好好干活’,没有更多可以透露的。” 同日,还有市场消息...</p>\n\n<a href=\"http://finance.eastmoney.com/a/202208102476529765.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4099":"汽车制造商","BK1588":"回港中概股","BK4509":"腾讯概念","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","BK4534":"瑞士信贷持仓","NIO":"蔚来","BK4526":"热门中概股","BK1119":"汽车制造商","BK4505":"高瓴资本持仓","BK4548":"巴美列捷福持仓","NIO.SI":"蔚来","BK4532":"文艺复兴科技持仓","BK4581":"高盛持仓","09866":"蔚来-SW","BK4555":"新能源车","BK4504":"桥水持仓","BK4574":"无人驾驶","BK4531":"中概回港概念"},"source_url":"http://finance.eastmoney.com/a/202208102476529765.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2258211982","content_text":"8月10日,蔚来的手机业务又现多条新传闻。 据外媒报道,蔚来的第一款手机或将定位为高端旗舰,搭载高通的第二代骁龙8移动平台。在价格上,该手机起步价可能超过5000元,最高可达7000元。据推断,蔚来的第一款手机或将在明年上半年登场。针对相关传闻,蔚来汽车董事长李斌回应媒体称,“这应该是别人想象给我们的定义。目前在手机业务上,我们还要‘好好干活’,没有更多可以透露的。” 同日,还有市场消息传出,原美图移动高级副总裁易炜已加盟蔚来手机团队,担任软件部门负责人。此外,除了高管团队,手机团队的基层员工也在招兵买马。据招聘网站及行业媒体等多方信源,消息指出目前蔚来发布了大量与手机业务强关联的岗位,包括Camera App开发工程师、Android工程师、智能手表整机产品经理等。此外,还有“薪资涨幅10%-20%的居多”、“蔚来手机团队已超过了300人,员工背景包括OPPO、美图和华为等”相关传闻。 蔚来造手机已不是新鲜事。2022年7月28日,在福州用户见面会上,蔚来创始人、董事长、CEO李斌就曾表示:“蔚来要做的很简单,就是为蔚来用户造一部好用的手机,而且每年就开发一款手机,像苹果一样。” 8月4日,天眼查信息显示,“蔚来移动科技有限公司”正式成立,注册资本1亿美元,法定代表人为秦力洪。据悉,秦力洪是蔚来汽车的联合创始人,目前在蔚来多家公司担任要职。 蔚来造手机的初衷,李斌曾提及,蔚来汽车与苹果手机的适配非常一般,比如蔚来主推的 UWB(超宽带数字钥匙),但苹果不开放接口,所以蔚来车主们无法享受这一主打功能。据此,李斌称,“不造手机,相当于钥匙在对手手上”。 除了蔚来,近期,国内不少车企都有向手机市场跨界的动向。车企跨界造手机的背后有何生意经?江西新能源科技职业学院新能源汽车技术研究院院长张翔向南都·湾财社记者分析,正如李斌所言,像蔚来与苹果一样,现阶段手机与汽车的部分功能并未打通,适配度低影响用户体验。但是,因数据等核心信息涉及商业机密,车企又不愿向手机厂商开放所有数据来提高用户体验。因此,车企自己造手机,就不用担心汽车的核心数据泄露,可以根据用户需求把握数据,将主动权放在自己手上。此外,造手机的门槛也不算高,对于车企而言,造手机的资金成本也是足够的。 针对手机厂商与车企未来的合作模式,张翔认为,未来车企跟手机企业跨界合作或成主流。因为手机企业造手机,无论是手机的综合性能、还是成本控制,都比车企造手机更好。车企造手机体量相对较小,对供应链的把控能力也较弱,可能将手机造成汽车的“专用机”。因此,与手机企业展开合作是大势所趋。合作模式下,车企汽车的智能网联的功能更加丰富,手机通过与汽车的连接也会增加销量,这对双方而言都是互利共赢的。 从自动驾驶的角度谈车企与手机企业的跨界合作,摩根大通中国证券研究部及亚洲汽车行业研究团队主管赖以哲向南都·湾财社记者分析,随着汽车自动驾驶逐步应用与立法的落地,汽车未来或将变成手机的延伸。在驾驶员的眼睛和手可以完全解放之后,中间产生的商机将非常大,这是车企与手机厂商正在尝试探讨的话题。不过,从这个思路去看,最终能不能赚钱还为时尚早,要达到这个目标,自动驾驶至少要完全释放到L4才能有更多机会。此外,蔚来做手机的战略,应该还考虑到除驾驶员外其他乘客的使用习惯及娱乐模式,这都是车企造手机应考虑到的中长期策略。(文章来源:南方都市报)","news_type":1,"symbols_score_info":{"09866":1,"EVS.SI":0.6,"NIO":1,"NIO.SI":0.6}},"isVote":1,"tweetType":1,"viewCount":4600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":443045978337464,"gmtCreate":1749187923320,"gmtModify":1749188385047,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3547550248478329","idStr":"3547550248478329"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$ </a> 今天早晨起来一看,居然跌14个多点。美股真的一切皆有可能。 前几天一直坚定信念会回到300以内的,没有想到这么快,赶紧捡了些筹,希望继续再降一降,让我补个仓[鬼脸] ","listText":"<a href=\"https://laohu8.com/S/TSLA\">$特斯拉(TSLA)$ </a> 今天早晨起来一看,居然跌14个多点。美股真的一切皆有可能。 前几天一直坚定信念会回到300以内的,没有想到这么快,赶紧捡了些筹,希望继续再降一降,让我补个仓[鬼脸] ","text":"$特斯拉(TSLA)$ 今天早晨起来一看,居然跌14个多点。美股真的一切皆有可能。 前几天一直坚定信念会回到300以内的,没有想到这么快,赶紧捡了些筹,希望继续再降一降,让我补个仓[鬼脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/443045978337464","isVote":1,"tweetType":1,"viewCount":3374,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3548135347223407","authorId":"3548135347223407","name":"炒股小学徒","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":9,"crmLevelSwitch":0,"authorIdStr":"3548135347223407","idStr":"3548135347223407"},"content":"昨天收盘后夜盘又跌了4个点,然后我中午一看,又涨了最多六个点 吓死人","text":"昨天收盘后夜盘又跌了4个点,然后我中午一看,又涨了最多六个点 吓死人","html":"昨天收盘后夜盘又跌了4个点,然后我中午一看,又涨了最多六个点 吓死人"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":442476306702648,"gmtCreate":1749048776987,"gmtModify":1749048778956,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3547550248478329","idStr":"3547550248478329"},"themes":[],"htmlText":"拼多多对于供应链的破坏性非常大,中国开始走品牌出海路线,而拼多多的模式,是一个卖廉价供应链的模式,剥削中国工厂的模式,它的模式终将走向消亡","listText":"拼多多对于供应链的破坏性非常大,中国开始走品牌出海路线,而拼多多的模式,是一个卖廉价供应链的模式,剥削中国工厂的模式,它的模式终将走向消亡","text":"拼多多对于供应链的破坏性非常大,中国开始走品牌出海路线,而拼多多的模式,是一个卖廉价供应链的模式,剥削中国工厂的模式,它的模式终将走向消亡","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/442476306702648","repostId":"2540066183","repostType":2,"repost":{"id":"2540066183","kind":"news","pubTimestamp":1749040814,"share":"https://www.laohu8.com/m/news/2540066183?lang=&edition=full","pubTime":"2025-06-04 20:40","market":"us","language":"zh","title":"利润下降近四成,短期承压的财报中,藏着拼多多未来增长的秘密","url":"https://stock-news.laohu8.com/highlight/detail?id=2540066183","media":"鳌头财经","summary":"数据显示,荣昌卤鹅的网络曝光率增长了4050%。01“牺牲短期业绩” 拼多多说到做到5月27日,拼多多公布了2025年第一季度未经审计财务业绩,财报显示,报告期内拼多多实现营收956.722亿元,同比增长10%,增速有所放缓;实现营业利润160.856亿元,同比下降38%;实现归属于普通股股东的净利润147.42亿元,同比下降47%。鳌头财经了解到,目前“伊之福”在拼多多的销售已覆盖了周志宇工厂3亿年产值的一半。","content":"<html><body><article><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205452144v1529f1rgabbe53\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205457887v152tuiuq1nr10w\"/><p><strong>尽管牺牲了短期业绩,但<a href=\"https://laohu8.com/S/PDD\">拼多多</a>用千亿的投入换来了万亿的市场,在长期效应的加持下,杠杆效应带来的巨量增长终将在未来显现。</strong></p><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205458367v152d95rujfdjde\"/><p>记者丨宁晓敏</p><p>实习生丨汗青</p><p><strong>出品丨</strong>鳌头财经</p><p>卖了6年卤鹅的周露,最近在拼多多上实现了爆单,“一夜卖了1202单,从未见过这个阵仗。”</p><p>周露的卤鹅品牌叫做“渝飨记”,是一家主营荣昌卤鹅的老字号。前段时间,“卤鹅哥”林江在互联网上爆火,也给荣昌卤鹅带来了巨量曝光。数据显示,荣昌卤鹅的网络曝光率增长了4050%。</p><p>面对泼天的流量,如何做好承接、转化是商家们要面对的关键问题,平台强大数字化能力的帮助让这一问题得到了有效解决。周露介绍,通过入选拼多多“多多好特产计划”,渝飨记品牌知名度得到了进一步提升,甚至吸引到了外国客人咨询。</p><p>平台扶持的故事同样发生在号称“北方鞋都”的河北安新,此前安新县通过承接天津等地的加工订单,涌现出一片产业集群,然而随着市场环境的变化,当地商家不可避免地陷入到同质化竞争的局面中。</p><p>鞋商王智福便经历过这一过程,单价89元的爆款鞋,面世第二年便出现了29元、39元的“同款”,王智福不仅订单量锐减九成,仓库内还积压了十万双。王智福决定跳出价格竞争的桎梏,推出了成本近百元的碳板跑鞋,这一价格已经接近当地的平均<span>出货</span>价,过去的渠道难以消化吸收,找到新销路成为破局关键。</p><p>这款售价299的跑鞋一开始在传统电商平台并未获得销量,在转战拼多多后,得益于平台的“新质商家百亿扶持计划”,王智福的跑鞋成为主推产品,其店铺的月销售额迅速突破数百万元。</p><p>更多的周露、王智福在拼多多上涌现,根据分析机构估算,今年一季度拼多多GMV增速16%,GMV规模1.07万亿,拼多多对商家“扶持+减免”的政策,带动了上万亿的消费规模。</p><p>代价则是拼多多营收增速的放缓与利润率的下降,值得吗?</p><p><strong>0</strong><strong>1</strong></p><p><strong>“牺牲短期业绩” 拼多多说到做到</strong></p><p>5月27日,拼多多公布了2025年第一季度未经审计财务业绩,财报显示,报告期内拼多多实现营收956.722亿元,同比增长10%,增速有所放缓;实现<span>营业利润</span>160.856亿元,同比下降38%;实现归属于普通股股东的<span>净利润</span>147.42亿元,同比下降47%。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205458784v15225ioiznbwlv\"/><p>单从营收和利润数据看,增速放缓、利润腰斩,拼多多似乎增长乏力了,进一步分析财务数据便可发现,拼多多业绩放缓的背后则是公司“敢于牺牲短期业绩”的战略选择。</p><p>两个数据值得注意,一是拼多多一季度交易服务收入增速仅为6%,上季度该指标的增速为33%;二是销售和营销费用较去年同期的234亿元大增43%,净增额达到了100亿元。</p><p>“总体GMV增长了16%,但佣金收入只增长了6%,说明拼多多把更多的利润让给了平台商家,自身承担了交易规模上涨的更多成本。”行业分析人士向鳌头财经表示,“营销费用的上涨更是说明了拼多多用‘真金白银’补贴商家和消费者,而不是像某些平台,把很大一部分营销费用转嫁到了商户身上。”</p><p><a href=\"https://laohu8.com/S/601688\">华泰证券</a>的研报也指出,“交易服务收入不及预期表明了拼多多在商户扶持和佣金减免上的激进投入。”</p><p>在一季报发布后,拼多多执行董事、联席CEO赵佳臻表示,“平台对商家的帮扶范畴将从头部腰部拓展至中小商家,敢于啃高质量发展中的硬骨头。”对于啃硬骨头,拼多多有充足的底气,财报显示,一季度经营活动现金净额155.2亿元,现金及短期投资余额3645亿元。</p><p>换言之,尽管扶持商家的激进举措会让拼多多在收入和利润上承压,但牺牲短期业绩换来的是“商家-消费者-产业带”这一价值循环的重构,拼多多的战略选择更像是一种“蓄力”,以短期业绩的迟滞换取未来更高的成长性。</p><p><strong>0</strong><strong>2</strong></p><p><strong>千亿扶持换来万亿市场</strong></p><p><strong>拼多多找到了撬动增长的杠杆</strong></p><p>除了蓄力,还要蓄水。当下的消费环境正在快速变化,在产业端,同质化竞争困局随处可见,产业带升级需求迫切;在消费端,消费者个性化、功能化消费需求提升,供需匹配效率亟待提升。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205459958v152q8minq73rgy\"/><p>“中国庞大的消费市场可看作一个水池,其中主要部分仍是万千中小型商家,当中小型商家面临生存危机,水池的供水能力便会下降。”行业观察人士向鳌头财经表示。</p><p>拼多多要做的便是向水池中持续蓄水,构建出更加健康的商家生态系统。在拼多多董事长、联系CEO陈磊看来,“对商家的反哺和投入是该阶段平台必须承担的社会责任,只有优先保障用户和商家的利益,才能创造更优质的平台生态。”</p><p>在产业端,拼多多在今年4月初推出了“千亿扶持”,计划未来三年内投入资金、流量等资源超过1000亿元,加码高质量电商生态建设,助推平台商家新质转型升级,全力构建用户、商家及平台多方共赢的商业生态;在消费端,“千亿扶持”落地了多项补贴政策普惠消费者,平台百亿补贴频道更是新增了“100亿商家回馈计划”,先后投入100亿元消费券。</p><p>在拼多多的持续扶持下,商家迎来了新的发展契机,金华市下属的永康县是浙江有名的“五金之都”,周志宇的厨具工厂便坐落于此。在过去,工厂的主要订单来自于海外代工,周志宇自创的品牌“伊之福”作为产业带白牌,在传统电商平台平没有较好的发展机会。</p><p>在入驻拼多多后,“伊之福”很快迎来爆单,周志宇坦言,拼多多对于商家的扶持,以及轻运营、重产品的平台逻辑是“伊之福”快速成长的关键。“相较其他平台,拼多多ROI更高,且运营相对简单,这从我们的人力配置便有体现,我们一名拼多多运营可以同时管理三家店铺,其他平台我们是6个运营同时负责一家店铺。”鳌头财经了解到,目前“伊之福”在拼多多的销售已覆盖了周志宇工厂3亿年产值的一半。</p><p>在消费市场中,除了大牌产品,还有无数像周露、王智福、周志宇一样的中小型商家,他们也是供给端的重要组成部分,他们的健康成长,带动了消费规模的增长,也为拼多多带来了上万亿消费的成效。</p><p>尽管牺牲了短期业绩,但拼多多用千亿的投入换来了万亿的市场,在长期效应的加持下,杠杆效应带来的巨量增长终将在未来显现。</p><p>从这一角度来看,拼多多的做法十分值得。</p><p>-------<strong>The end</strong>-------</p><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205515809v152qpy8jelcxxu\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205518071v152yd9xrejx63j\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205519248v152yglrolad5ez\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205524922v152120ybwkn33w\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205525346v152fkk6ehrxp2s\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205527484v152eutitx90gnb\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205528010v152ca56zj91p94\"/><img src=\"https://fid-75186.picgzc.qpic.cn/20250604205529320v1525kz1eo0m3lp\"/></article></body></html>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" 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left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n利润下降近四成,短期承压的财报中,藏着拼多多未来增长的秘密\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-06-04 20:40 北京时间 <a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604205541a6fa4cf0&s=b><strong>鳌头财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>尽管牺牲了短期业绩,但拼多多用千亿的投入换来了万亿的市场,在长期效应的加持下,杠杆效应带来的巨量增长终将在未来显现。记者丨宁晓敏实习生丨汗青出品丨鳌头财经卖了6年卤鹅的周露,最近在拼多多上实现了爆单,“一夜卖了1202单,从未见过这个阵仗。”周露的卤鹅品牌叫做“渝飨记”,是一家主营荣昌卤鹅的老字号。前段时间,“卤鹅哥”林江在互联网上爆火,也给荣昌卤鹅带来了巨量曝光。数据显示,荣昌卤鹅的网络曝光率...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604205541a6fa4cf0&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250604205541a6fa4cf0&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2540066183","content_text":"尽管牺牲了短期业绩,但拼多多用千亿的投入换来了万亿的市场,在长期效应的加持下,杠杆效应带来的巨量增长终将在未来显现。记者丨宁晓敏实习生丨汗青出品丨鳌头财经卖了6年卤鹅的周露,最近在拼多多上实现了爆单,“一夜卖了1202单,从未见过这个阵仗。”周露的卤鹅品牌叫做“渝飨记”,是一家主营荣昌卤鹅的老字号。前段时间,“卤鹅哥”林江在互联网上爆火,也给荣昌卤鹅带来了巨量曝光。数据显示,荣昌卤鹅的网络曝光率增长了4050%。面对泼天的流量,如何做好承接、转化是商家们要面对的关键问题,平台强大数字化能力的帮助让这一问题得到了有效解决。周露介绍,通过入选拼多多“多多好特产计划”,渝飨记品牌知名度得到了进一步提升,甚至吸引到了外国客人咨询。平台扶持的故事同样发生在号称“北方鞋都”的河北安新,此前安新县通过承接天津等地的加工订单,涌现出一片产业集群,然而随着市场环境的变化,当地商家不可避免地陷入到同质化竞争的局面中。鞋商王智福便经历过这一过程,单价89元的爆款鞋,面世第二年便出现了29元、39元的“同款”,王智福不仅订单量锐减九成,仓库内还积压了十万双。王智福决定跳出价格竞争的桎梏,推出了成本近百元的碳板跑鞋,这一价格已经接近当地的平均出货价,过去的渠道难以消化吸收,找到新销路成为破局关键。这款售价299的跑鞋一开始在传统电商平台并未获得销量,在转战拼多多后,得益于平台的“新质商家百亿扶持计划”,王智福的跑鞋成为主推产品,其店铺的月销售额迅速突破数百万元。更多的周露、王智福在拼多多上涌现,根据分析机构估算,今年一季度拼多多GMV增速16%,GMV规模1.07万亿,拼多多对商家“扶持+减免”的政策,带动了上万亿的消费规模。代价则是拼多多营收增速的放缓与利润率的下降,值得吗?01“牺牲短期业绩” 拼多多说到做到5月27日,拼多多公布了2025年第一季度未经审计财务业绩,财报显示,报告期内拼多多实现营收956.722亿元,同比增长10%,增速有所放缓;实现营业利润160.856亿元,同比下降38%;实现归属于普通股股东的净利润147.42亿元,同比下降47%。单从营收和利润数据看,增速放缓、利润腰斩,拼多多似乎增长乏力了,进一步分析财务数据便可发现,拼多多业绩放缓的背后则是公司“敢于牺牲短期业绩”的战略选择。两个数据值得注意,一是拼多多一季度交易服务收入增速仅为6%,上季度该指标的增速为33%;二是销售和营销费用较去年同期的234亿元大增43%,净增额达到了100亿元。“总体GMV增长了16%,但佣金收入只增长了6%,说明拼多多把更多的利润让给了平台商家,自身承担了交易规模上涨的更多成本。”行业分析人士向鳌头财经表示,“营销费用的上涨更是说明了拼多多用‘真金白银’补贴商家和消费者,而不是像某些平台,把很大一部分营销费用转嫁到了商户身上。”华泰证券的研报也指出,“交易服务收入不及预期表明了拼多多在商户扶持和佣金减免上的激进投入。”在一季报发布后,拼多多执行董事、联席CEO赵佳臻表示,“平台对商家的帮扶范畴将从头部腰部拓展至中小商家,敢于啃高质量发展中的硬骨头。”对于啃硬骨头,拼多多有充足的底气,财报显示,一季度经营活动现金净额155.2亿元,现金及短期投资余额3645亿元。换言之,尽管扶持商家的激进举措会让拼多多在收入和利润上承压,但牺牲短期业绩换来的是“商家-消费者-产业带”这一价值循环的重构,拼多多的战略选择更像是一种“蓄力”,以短期业绩的迟滞换取未来更高的成长性。02千亿扶持换来万亿市场拼多多找到了撬动增长的杠杆除了蓄力,还要蓄水。当下的消费环境正在快速变化,在产业端,同质化竞争困局随处可见,产业带升级需求迫切;在消费端,消费者个性化、功能化消费需求提升,供需匹配效率亟待提升。“中国庞大的消费市场可看作一个水池,其中主要部分仍是万千中小型商家,当中小型商家面临生存危机,水池的供水能力便会下降。”行业观察人士向鳌头财经表示。拼多多要做的便是向水池中持续蓄水,构建出更加健康的商家生态系统。在拼多多董事长、联系CEO陈磊看来,“对商家的反哺和投入是该阶段平台必须承担的社会责任,只有优先保障用户和商家的利益,才能创造更优质的平台生态。”在产业端,拼多多在今年4月初推出了“千亿扶持”,计划未来三年内投入资金、流量等资源超过1000亿元,加码高质量电商生态建设,助推平台商家新质转型升级,全力构建用户、商家及平台多方共赢的商业生态;在消费端,“千亿扶持”落地了多项补贴政策普惠消费者,平台百亿补贴频道更是新增了“100亿商家回馈计划”,先后投入100亿元消费券。在拼多多的持续扶持下,商家迎来了新的发展契机,金华市下属的永康县是浙江有名的“五金之都”,周志宇的厨具工厂便坐落于此。在过去,工厂的主要订单来自于海外代工,周志宇自创的品牌“伊之福”作为产业带白牌,在传统电商平台平没有较好的发展机会。在入驻拼多多后,“伊之福”很快迎来爆单,周志宇坦言,拼多多对于商家的扶持,以及轻运营、重产品的平台逻辑是“伊之福”快速成长的关键。“相较其他平台,拼多多ROI更高,且运营相对简单,这从我们的人力配置便有体现,我们一名拼多多运营可以同时管理三家店铺,其他平台我们是6个运营同时负责一家店铺。”鳌头财经了解到,目前“伊之福”在拼多多的销售已覆盖了周志宇工厂3亿年产值的一半。在消费市场中,除了大牌产品,还有无数像周露、王智福、周志宇一样的中小型商家,他们也是供给端的重要组成部分,他们的健康成长,带动了消费规模的增长,也为拼多多带来了上万亿消费的成效。尽管牺牲了短期业绩,但拼多多用千亿的投入换来了万亿的市场,在长期效应的加持下,杠杆效应带来的巨量增长终将在未来显现。从这一角度来看,拼多多的做法十分值得。-------The 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感觉跌到位了,建一点点仓位","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/460576755200200","isVote":1,"tweetType":1,"viewCount":963,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":430896700436816,"gmtCreate":1746175204246,"gmtModify":1746175205906,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3547550248478329","idStr":"3547550248478329"},"themes":[],"htmlText":"买入29号到期的Call,相信云业务,AI应用提效,苹果的战略合作将在15号的业绩说明会上有较好的指引 <a href=\"https://laohu8.com/OPT/ALB.HK 20250529 130.00 CALL\">$ALB.HK 20250529 130.00 CALL$ </a> ","listText":"买入29号到期的Call,相信云业务,AI应用提效,苹果的战略合作将在15号的业绩说明会上有较好的指引 <a href=\"https://laohu8.com/OPT/ALB.HK 20250529 130.00 CALL\">$ALB.HK 20250529 130.00 CALL$ </a> 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[看涨]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/474298572636944","repostId":"2564877987","repostType":2,"repost":{"id":"2564877987","kind":"live","pubTimestamp":1756802249,"share":"https://www.laohu8.com/m/news/2564877987?lang=&edition=full","pubTime":"2025-09-02 16:37","market":"hk","language":"zh","title":"瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观","url":"https://stock-news.laohu8.com/highlight/detail?id=2564877987","media":"智通财经","summary":"【瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观】智通财经APP获悉,瑞银发布研报称,速腾聚创(02498.HK)管理层对公司前景持乐观态度,其中公司近期获得比","content":"<html><body><div>\n<div>\n<b>【瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观】</b>智通财经APP获悉,瑞银发布研报称,速腾聚创(02498.HK)管理层对公司前景持乐观态度,其中公司近期获得比亚迪控股(01211.HK)及吉利汽车(00175.HK)的重要订单,有望为ADAS激光雷达业务增长提供稳固支持。在机器人激光雷达业务方面,公司正加速渗透自动移动设备领域,并与MAMMOTION及九号公司紧密合作;集团目标于2026年毛利率达30%,长期毛利率目标为35%。基于订单获取进展顺利,该行将2026至27年盈利预测上调4%,目标价由50港元升至52.8港元,维持“买入”评级。 </div>\n</div></body></html>","source":"live_zhitongcaijing","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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class=\"title\">\n瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-09-02 16:37 北京时间 <a href=https://www.zhitongcaijing.com/immediately.html?type=ganggu><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>【瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观】智通财经APP获悉,瑞银发布研报称,速腾聚创(02498.HK)管理层对公司前景持乐观态度,其中公司近期获得比亚迪控股(01211.HK)及吉利汽车(00175.HK)的重要订单,有望为ADAS激光雷达业务增长提供稳固支持。在机器人激光雷达业务方面,公司正加速渗透自动移动设备领域,并与MAMMOTION及九号...</p>\n\n<a href=\"https://www.zhitongcaijing.com/immediately.html?type=ganggu\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"80175":"吉利汽车-R","81211":"比亚迪股-R一百","689009":"九号公司","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","LU0823414478.USD":"法巴经典能源转换基金","SG9999006514.SGD":"United Asia Consumer Fund SGD","LU0823038988.USD":"AMUNDI FUNDS ASIA EQUITY FOCUS \"A2\" (USD) ACC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) 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(USD) INC","HYDD.SI":"BYD HK SDR 10to1","GELYY":"吉利汽车ADR","SG9999006597.SGD":"United China-India Dynamic Growth SGD","00285":"比亚迪电子"},"source_url":"https://www.zhitongcaijing.com/immediately.html?type=ganggu","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2564877987","content_text":"【瑞银:升速腾聚创(02498.HK)目标价至52.8港元 订单增长及利润率提升展望乐观】智通财经APP获悉,瑞银发布研报称,速腾聚创(02498.HK)管理层对公司前景持乐观态度,其中公司近期获得比亚迪控股(01211.HK)及吉利汽车(00175.HK)的重要订单,有望为ADAS激光雷达业务增长提供稳固支持。在机器人激光雷达业务方面,公司正加速渗透自动移动设备领域,并与MAMMOTION及九号公司紧密合作;集团目标于2026年毛利率达30%,长期毛利率目标为35%。基于订单获取进展顺利,该行将2026至27年盈利预测上调4%,目标价由50港元升至52.8港元,维持“买入”评级。","news_type":1,"symbols_score_info":{"80175":0.6,"81211":0.6,"689009":1,"00175":1,"002594":1,"00285":1,"01211":1,"02498":1,"BYDDY":0.6,"EVS.SI":0.6,"GELYY":0.6,"HYDD.SI":0.6}},"isVote":1,"tweetType":1,"viewCount":260,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":471646657544616,"gmtCreate":1756179034422,"gmtModify":1756179970036,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3547550248478329","idStr":"3547550248478329"},"themes":[],"htmlText":"加仓,加仓 [开心] [开心] [开心]","listText":"加仓,加仓 [开心] [开心] [开心]","text":"加仓,加仓 [开心] [开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/471646657544616","repostId":"471422041661816","repostType":1,"repost":{"id":471422041661816,"gmtCreate":1756124096051,"gmtModify":1756124192479,"author":{"id":"21347731130544","authorId":"21347731130544","name":"价值投资为王","avatar":"https://static.tigerbbs.com/89ffffc59ff9ac9cb9cb74f596418d44","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"21347731130544","idStr":"21347731130544"},"themes":[],"title":"凯莱英:二季报炸裂,150指日可待!","htmlText":"刚刚,凯莱英公布了二季报,业绩炸裂! 其中,二季度营收16.5亿,同比增长27.2%,增速较一季度的10%、去年四季度的15.6%明显提速: 二季度净利润2.9亿,同比增长34%,较一季度16%的增长明显提速! 经营层面,凯莱英的变化令人兴奋,其中: 来自欧洲市场客户收入 5.48 亿元,同比增长超 200%;美国客户收入占比降到56%,不再单一依赖美国市场: 核心的小分子业务保持稳健增长,实现收入24.29 亿元,同比增长 10.64%,毛利率 47.79%,同比提升0.6 个百分点; 新兴业务取得快速发展,实现收入 7.56 亿元,同比增长 51.22%,毛利率 29.79%,同比提升 9.5 个百分点。截至本报告披露日,在手订单金额同比增长超 40%! 在新兴业务中,化学大分子(含多肽、寡核苷酸、毒素连接体及脂质 Lipid 业务)CDMO 业务板块收入3.79 亿元,同比增长超 130%,在手订单金额同比增长超90%,其中境外占比超 40%。预计 2025 年下半年该业务板块收入仍将保持翻倍以上增速。 截至报告期末,多肽固相合成产能约 30,000L,预计 2025 年底多肽固相合成总产能将达 44,000L,以满足在手订单未来产能需求。 药明康德预计 2025 年底多肽固相合成反应釜总体积将提升至超 100,000L,凯莱英作为老二,能有药明康德近一半的产能,相当不错了,靠多肽,有望再造一个凯莱英! 制剂 CDMO 业务板块收入 1.18 亿元,同比增长 7.81%;报告期内实现首个制剂产品在美国的商业化供应。截至本报告披露日,在手订单金额同比增长超35%,其中境外占比超 30%。 生物大分子 CDMO 业务板块收入 0.90 亿元,同比增长 70.74%,在手订单金额同比增长超 60%,其中境外占比超 35%。预计 2025 年该业务板块收入将实现翻倍以上增长。","listText":"刚刚,凯莱英公布了二季报,业绩炸裂! 其中,二季度营收16.5亿,同比增长27.2%,增速较一季度的10%、去年四季度的15.6%明显提速: 二季度净利润2.9亿,同比增长34%,较一季度16%的增长明显提速! 经营层面,凯莱英的变化令人兴奋,其中: 来自欧洲市场客户收入 5.48 亿元,同比增长超 200%;美国客户收入占比降到56%,不再单一依赖美国市场: 核心的小分子业务保持稳健增长,实现收入24.29 亿元,同比增长 10.64%,毛利率 47.79%,同比提升0.6 个百分点; 新兴业务取得快速发展,实现收入 7.56 亿元,同比增长 51.22%,毛利率 29.79%,同比提升 9.5 个百分点。截至本报告披露日,在手订单金额同比增长超 40%! 在新兴业务中,化学大分子(含多肽、寡核苷酸、毒素连接体及脂质 Lipid 业务)CDMO 业务板块收入3.79 亿元,同比增长超 130%,在手订单金额同比增长超90%,其中境外占比超 40%。预计 2025 年下半年该业务板块收入仍将保持翻倍以上增速。 截至报告期末,多肽固相合成产能约 30,000L,预计 2025 年底多肽固相合成总产能将达 44,000L,以满足在手订单未来产能需求。 药明康德预计 2025 年底多肽固相合成反应釜总体积将提升至超 100,000L,凯莱英作为老二,能有药明康德近一半的产能,相当不错了,靠多肽,有望再造一个凯莱英! 制剂 CDMO 业务板块收入 1.18 亿元,同比增长 7.81%;报告期内实现首个制剂产品在美国的商业化供应。截至本报告披露日,在手订单金额同比增长超35%,其中境外占比超 30%。 生物大分子 CDMO 业务板块收入 0.90 亿元,同比增长 70.74%,在手订单金额同比增长超 60%,其中境外占比超 35%。预计 2025 年该业务板块收入将实现翻倍以上增长。","text":"刚刚,凯莱英公布了二季报,业绩炸裂! 其中,二季度营收16.5亿,同比增长27.2%,增速较一季度的10%、去年四季度的15.6%明显提速: 二季度净利润2.9亿,同比增长34%,较一季度16%的增长明显提速! 经营层面,凯莱英的变化令人兴奋,其中: 来自欧洲市场客户收入 5.48 亿元,同比增长超 200%;美国客户收入占比降到56%,不再单一依赖美国市场: 核心的小分子业务保持稳健增长,实现收入24.29 亿元,同比增长 10.64%,毛利率 47.79%,同比提升0.6 个百分点; 新兴业务取得快速发展,实现收入 7.56 亿元,同比增长 51.22%,毛利率 29.79%,同比提升 9.5 个百分点。截至本报告披露日,在手订单金额同比增长超 40%! 在新兴业务中,化学大分子(含多肽、寡核苷酸、毒素连接体及脂质 Lipid 业务)CDMO 业务板块收入3.79 亿元,同比增长超 130%,在手订单金额同比增长超90%,其中境外占比超 40%。预计 2025 年下半年该业务板块收入仍将保持翻倍以上增速。 截至报告期末,多肽固相合成产能约 30,000L,预计 2025 年底多肽固相合成总产能将达 44,000L,以满足在手订单未来产能需求。 药明康德预计 2025 年底多肽固相合成反应釜总体积将提升至超 100,000L,凯莱英作为老二,能有药明康德近一半的产能,相当不错了,靠多肽,有望再造一个凯莱英! 制剂 CDMO 业务板块收入 1.18 亿元,同比增长 7.81%;报告期内实现首个制剂产品在美国的商业化供应。截至本报告披露日,在手订单金额同比增长超35%,其中境外占比超 30%。 生物大分子 CDMO 业务板块收入 0.90 亿元,同比增长 70.74%,在手订单金额同比增长超 60%,其中境外占比超 35%。预计 2025 年该业务板块收入将实现翻倍以上增长。","images":[{"img":"https://static.tigerbbs.com/8978bc5d2a90720fa3271dd083404694","width":"1344","height":"612"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/471422041661816","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":244,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":470191835574528,"gmtCreate":1755824467663,"gmtModify":1755824469473,"author":{"id":"3547550248478329","authorId":"3547550248478329","name":"Kevinlee","avatar":"https://static.tigerbbs.com/d053a794fa9fee5415306e4deb6a1bef","crmLevel":9,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3547550248478329","idStr":"3547550248478329"},"themes":[],"htmlText":"毛利率得到较大改善,在这样的市场环境下,难能可贵,不错的业绩财报","listText":"毛利率得到较大改善,在这样的市场环境下,难能可贵,不错的业绩财报","text":"毛利率得到较大改善,在这样的市场环境下,难能可贵,不错的业绩财报","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/470191835574528","repostId":"2561935412","repostType":2,"repost":{"id":"2561935412","kind":"highlight","pubTimestamp":1755817852,"share":"https://www.laohu8.com/m/news/2561935412?lang=&edition=full","pubTime":"2025-08-22 07:10","market":"us","language":"zh","title":"速腾聚创上半年营收7.8亿:来自ADAS收入同比降18% 净亏1.5亿","url":"https://stock-news.laohu8.com/highlight/detail?id=2561935412","media":"雷递网","summary":"速腾聚创(股票代码:02498.HK)日前发布截至2025年6月30日的财报。财报显示,速腾聚创2025年上半年营收为7.83亿元,较上年同期的7.27亿元增长7.7%,主要是由于机器人及其他的产品销售增加。","content":"<html><body><p><img src=\"https://static.tigerbbs.com/c41960f650184174a60fd013a4bd5ec9\" title=\"1.jpeg\"/></p><p><span><span><span>雷递网 雷建平 8月22日</span></span></span></p><p><span><span><a href=\"https://laohu8.com/S/02498\">速腾聚创</a>(股票代码:02498.HK)日前发布截至2025年6月30日的财报。财报显示,速腾聚创2025年上半年营收为7.83亿元,较上年同期的7.27亿元增长7.7%,主要是由于机器人及其他的产品销售增加。</span></span></p><p><img src=\"https://static.tigerbbs.com/6684551585294a748e0c27e8323b2267\" title=\"2.jpeg\"/></p><p><span><span>速腾聚创2025年上半年运营亏损为1.97亿元,上年同期运营亏损为3.22亿元;净亏损为1.49亿元,较上年同期的净亏损2.67亿元收窄44.5%;公司拥有人应占亏损1.51亿,上年同期的公司拥有人应占亏损为2.69亿元。</span></span></p><p><img src=\"https://static.tigerbbs.com/ef21b2ac38ec423f8cc792a7cb85b586\" title=\"3.jpeg\"/></p><p><span><span>速腾聚创2025年上半年经调整净亏1.14亿元,上年同期的经调整净亏损为2亿元。</span></span></p><p><span><span><span>来自ADAS的收入为5亿 同比降17.9%</span></span></span></p><p><span><span>速腾聚创2025年上半年来自ADAS的收入为5亿元,较上年同期的6.09亿元下降17.9%;用于机器人及其他的收入为2.21亿元,较上年同期的7748万元增长1.43亿元,增幅高达184.8%。</span></span></p><p><img src=\"https://static.tigerbbs.com/9601a677b285497fb4339e146c3a399c\" title=\"4.jpeg\"/></p><p><span><span>速腾聚创2025年上半年的激光雷达产品的总销量由2024年同期的约243,400台增加至2025年上半年的约266,800台。</span></span></p><p><span><span>用于ADAS应用的激光雷达产品的销售量由2024年同期的约234,500台减少至2025年上半年的约220,500台,主要是由于向两家主要整车厂客户销售的激光雷达产品减少。</span></span></p><p><span><span>其中一名客户选择在其车辆上安装由其战略一级供应商开发的激光雷达产品,而另一名客户不再于其车辆上安装激光雷达产品。该减少部分被向另外两家中国主要整车厂客户销售的激光雷达产品增加而抵销。</span></span></p><p><span><span>用于ADAS应用的产品平均单价由2024年同期的每台约2,600元减少至2025年上半年的每台约2,300元。用于ADAS应用的产品平均单价减少主要由于2025年上半年价格较低的MX激光雷达产品销量增加。</span></span></p><p><span><span>速腾聚创2025年上半年用于机器人及其他产品的激光雷达产品的总销量由2024年同期的约8,900台增加至2025年上半年的约46,300台,主要是由于2025年上半年机器人客户对的新E1R及Airy激光雷达产品以及Helios及Bpearl系列等机械式激光雷达产品的需求增加。</span></span></p><p><span><span>产品的平均单价则由截至2024年上半年的每台约8,700元减少至2025年同期的每台约4,800元,主要是由于E1R及Airy产品的单价低于Ruby、Helios及Bpearl系列等机械式激光雷达产品的单价。</span></span></p><p><span><span><span>上半年研发开支3亿 同比降1.5%</span></span></span></p><p><span><span>速腾聚创2025年上半年毛利为2亿元,较上年同期的9855万元增长106%;毛利率为25.9%,较上年同期的13.6%提升12.3个百分点。</span></span></p><p><img src=\"https://static.tigerbbs.com/eb4a5fb558654c82beab0f552afa6519\" title=\"5.jpeg\"/></p><p><span><span>速腾聚创2025年上半年用于ADAS的毛利为8723万元,毛利率为17.4%;用于机器人及其他的毛利为9931万元,毛利率为45%;来自解决方案的毛利为2719万元,毛利率为53.1%。</span></span></p><p><span><span>速腾聚创2025年上半年研发开支为3.09亿元,较上年同期的3.13亿元下降1.5%;销售及营销开支为5690万元,较上年同期的5700万元下降0.2%;一般及行政开支为7830万元,较上年同期的8220万元下降4.8%。</span></span></p><p><span><span><span>拥有银行借款3.08亿</span></span></span></p><p><span><span>截至2025年6月30日止六个月,速腾聚创经营现金流出净额为5.64亿元,较截至2024年6月30日止六个月的1.16亿元有所增加。</span></span></p><p><span><span>截至2025年6月30日,速腾聚创拥有银行借款3.08亿元。</span></span></p><p><img src=\"https://static.tigerbbs.com/450a4256af464718a601d147cb6f961f\" title=\"6.jpeg\"/></p><p><span><span>截至2025年6月30日,速腾聚创资产总额为49.36亿元,上年同期为41.39亿元;负债总额为11亿元,权益总额为38.4亿元。</span></span></p><p><span><span>截至2025年6月30日,速腾聚创持有的现金及现金等价物、受限制现金及受限制定期存款为30.19亿元,而截至2024年12月31日为28.41亿元。</span></span></p><p><span><span>截至昨日收盘,速腾聚创股价为34.5港元,市值为163亿港元。</span></span></p><p><span><span>———————————————</span></span></p><p><span><span>雷递由媒体人雷建平创办,若转载请写明来源。</span></span></p></body></html>","source":"leinews_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>速腾聚创上半年营收7.8亿:来自ADAS收入同比降18% 净亏1.5亿</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n速腾聚创上半年营收7.8亿:来自ADAS收入同比降18% 净亏1.5亿\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-08-22 07:10 北京时间 <a href=https://www.leinews.com/n30928/detail.html><strong>雷递网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>雷递网 雷建平 8月22日速腾聚创(股票代码:02498.HK)日前发布截至2025年6月30日的财报。财报显示,速腾聚创2025年上半年营收为7.83亿元,较上年同期的7.27亿元增长7.7%,主要是由于机器人及其他的产品销售增加。速腾聚创2025年上半年运营亏损为1.97亿元,上年同期运营亏损为3.22亿元;净亏损为1.49亿元,较上年同期的净亏损2.67亿元收窄44.5%;公司拥有人应占亏损...</p>\n\n<a href=\"https://www.leinews.com/n30928/detail.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://leidinews-1256465536.cos.ap-chengdu.myqcloud.com/u_News/20250822/6389144343603226834357879.jpeg","relate_stocks":{"02498":"速腾聚创"},"source_url":"https://www.leinews.com/n30928/detail.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2561935412","content_text":"雷递网 雷建平 8月22日速腾聚创(股票代码:02498.HK)日前发布截至2025年6月30日的财报。财报显示,速腾聚创2025年上半年营收为7.83亿元,较上年同期的7.27亿元增长7.7%,主要是由于机器人及其他的产品销售增加。速腾聚创2025年上半年运营亏损为1.97亿元,上年同期运营亏损为3.22亿元;净亏损为1.49亿元,较上年同期的净亏损2.67亿元收窄44.5%;公司拥有人应占亏损1.51亿,上年同期的公司拥有人应占亏损为2.69亿元。速腾聚创2025年上半年经调整净亏1.14亿元,上年同期的经调整净亏损为2亿元。来自ADAS的收入为5亿 同比降17.9%速腾聚创2025年上半年来自ADAS的收入为5亿元,较上年同期的6.09亿元下降17.9%;用于机器人及其他的收入为2.21亿元,较上年同期的7748万元增长1.43亿元,增幅高达184.8%。速腾聚创2025年上半年的激光雷达产品的总销量由2024年同期的约243,400台增加至2025年上半年的约266,800台。用于ADAS应用的激光雷达产品的销售量由2024年同期的约234,500台减少至2025年上半年的约220,500台,主要是由于向两家主要整车厂客户销售的激光雷达产品减少。其中一名客户选择在其车辆上安装由其战略一级供应商开发的激光雷达产品,而另一名客户不再于其车辆上安装激光雷达产品。该减少部分被向另外两家中国主要整车厂客户销售的激光雷达产品增加而抵销。用于ADAS应用的产品平均单价由2024年同期的每台约2,600元减少至2025年上半年的每台约2,300元。用于ADAS应用的产品平均单价减少主要由于2025年上半年价格较低的MX激光雷达产品销量增加。速腾聚创2025年上半年用于机器人及其他产品的激光雷达产品的总销量由2024年同期的约8,900台增加至2025年上半年的约46,300台,主要是由于2025年上半年机器人客户对的新E1R及Airy激光雷达产品以及Helios及Bpearl系列等机械式激光雷达产品的需求增加。产品的平均单价则由截至2024年上半年的每台约8,700元减少至2025年同期的每台约4,800元,主要是由于E1R及Airy产品的单价低于Ruby、Helios及Bpearl系列等机械式激光雷达产品的单价。上半年研发开支3亿 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