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熊虎扑

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0勋章

10-07 21:37

$美团ADR(MPNGY)$ 臭**

10-02

$理想汽车-W(02015)$ 还能跌5个点厉害

10-01

拉完了，10月更拉

理想汽车9月交付31817辆车

09-29

$理想汽车(LI)$ 呵，无语

09-25

$理想汽车(LI)$ 这到底特么是个什么捷豹啊

09-21

$理想汽车-W(02015)$ 卧槽特么，这价了还能跌4个点

09-18

$理想汽车(LI)$ 气的肝儿疼

09-17

$理想汽车(LI)$ 真是他么的遭天谴了么，草怎么这么难啊

09-16

$理想汽车(LI)$ 看来也并不买账啊

09-10

$美团ADR(MPNGY)$ 这特妈的就是垃圾，真是不能做空，要是能做空这不就是送钱么

09-08

$理想汽车(LI)$ 真弱啊，弱爆了

08-28

$理想汽车(LI)$ 买了这玩意儿，**的压抑啊

08-28

$美团ADR(MPNGY)$ **的飞舞

08-14

$理想汽车(LI)$ **跌特么的几天了

08-04

$理想汽车(LI)$ 烂货哪有交易量啊

07-20

$理想汽车(LI)$ 哈哈，垃圾

07-15

$理想汽车(LI)$ 小鹏都回14了，哎

07-13

$理想汽车(LI)$ 这**

07-09

**

李想官宣“9系”旗舰纯电SUV理想i9：将推出Home版本，9月亮相

07-08

$理想汽车(LI)$ 🤣

去老虎APP查看更多动态

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还能跌5个点厉害","text":"$理想汽车-W(02015)$ 还能跌5个点厉害","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/613999360098320","isVote":1,"tweetType":1,"viewCount":330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":613677873676328,"gmtCreate":1790854255806,"gmtModify":1790854359054,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575509327606957","idStr":"3575509327606957"},"themes":[],"title":"","htmlText":"拉完了，10月更拉","listText":"拉完了，10月更拉","text":"拉完了，10月更拉","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/613677873676328","repostId":"1110130893","repostType":2,"repost":{"id":"1110130893","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1790822104,"share":"https://www.laohunote.com/m/news/1110130893?lang=zh_CN&edition=full","pubTime":"2026-10-01 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10:35</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\"><span>理想汽车2026年9月交付31,817辆。</span></p><p style=\"text-align: left;\"><span>2026年10月1日，理想汽车公布2026年9月交付数据。2026年9月，理想汽车交付新车31,817辆。截至2026年9月30日，理想汽车历史累计交付量为1,833,651辆。</span></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/321eacf04ae423fd085338111e6e1928\" data-align=\"center\" tg-width=\"1256\" tg-height=\"1014\"/><span></span></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c3461c9400040bdfdce3ecdd4882fbed","relate_stocks":{"02015":"理想汽车-W","LI":"理想汽车"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1110130893","content_text":"理想汽车2026年9月交付31,817辆。2026年10月1日，理想汽车公布2026年9月交付数据。2026年9月，理想汽车交付新车31,817辆。截至2026年9月30日，理想汽车历史累计交付量为1,833,651辆。","news_type":1,"symbols_score_info":{"02015":2,"LI":2}},"isVote":1,"tweetType":1,"viewCount":281,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":613060544766264,"gmtCreate":1790692177854,"gmtModify":1790692179812,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575509327606957","idStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 呵，无语","listText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 呵，无语","text":"$理想汽车(LI)$ 呵，无语","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/613060544766264","isVote":1,"tweetType":1,"viewCount":313,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":611653742145952,"gmtCreate":1790348720754,"gmtModify":1790349593974,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575509327606957","idStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a>&nbsp; 这到底特么是个什么捷豹啊","listText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a>&nbsp; 这到底特么是个什么捷豹啊","text":"$理想汽车(LI)$ 这到底特么是个什么捷豹啊","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/611653742145952","isVote":1,"tweetType":1,"viewCount":521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":610112986919840,"gmtCreate":1789980071453,"gmtModify":1789981245088,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575509327606957","idStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/02015\">$理想汽车-W(02015)$&nbsp;</a> 卧槽特么，这价了还能跌4个点","listText":"<a href=\"https://laohu8.com/S/02015\">$理想汽车-W(02015)$&nbsp;</a> 卧槽特么，这价了还能跌4个点","text":"$理想汽车-W(02015)$ 卧槽特么，这价了还能跌4个点","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/610112986919840","isVote":1,"tweetType":1,"viewCount":707,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":609150109910032,"gmtCreate":1789745022999,"gmtModify":1789745025030,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575509327606957","idStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 气的肝儿疼","listText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 气的肝儿疼","text":"$理想汽车(LI)$ 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真是他么的遭天谴了么，草怎么这么难啊","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/608770270744616","isVote":1,"tweetType":1,"viewCount":907,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608434721792008,"gmtCreate":1789563548836,"gmtModify":1789563550905,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575509327606957","idStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 看来也并不买账啊","listText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 看来也并不买账啊","text":"$理想汽车(LI)$ 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🤣","text":"$理想汽车(LI)$ 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17:31","market":"us","language":"zh","title":"财报前瞻 | 理想汽车Q3面临营收下滑，新车型及大模型或带来新动力","url":"https://stock-news.laohu8.com/highlight/detail?id=1133790875","media":"财报Agent","summary":"理想汽车将于11月26日盘前发布三季度财报。","content":"<html><head></head><body><p><em>摘要： <a href=\"https://laohu8.com/S/LI\">理想汽车</a> 将于11月26日美股盘前发布2025年第三季度财报。三季度理想汽车的交付量同比大幅下滑，营收必然受到影响，市场更加关注新车型的销售情况及AI方面的发展。</em></p><h3 id=\"id_528582728\">二季度回顾</h3><p>理想汽车二季度营收302亿元，车辆销售收入为289亿元。二季度经营利润达到8.27亿元，净利润11亿元。二季度汽车总交付量为111,074辆，同比增长2.3%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c672f9dd21e5bd387cfc2777ed19b42\" tg-width=\"1080\" tg-height=\"812\"/></p><h3 id=\"id_3388367749\">三季度预期</h3><p>已知数据：<strong>三季度理想汽车的总交付量仅为93211辆，较2024年同期的15.28万辆大幅下降了39%。不及公司自己设置的业绩指引（同比下降37.8%-41.1%）。</strong></p><p>根据老虎国际APP的数据，分析师目前预期理想汽车三季度营收267.1亿元人民币，同比减少37.7%；每股收益0.863元，同比减少67.54%；息税前利润1562万。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a012f3685feaf8f11374bccbc206f35\" tg-width=\"672\" tg-height=\"867\"/></p><h3 id=\"id_2560921757\">主要看点</h3><p><strong>纯电产品爬坡与补能网络协同</strong></p><ul style=\"list-style-type: disc;\"><li><p>本季度的核心看点在于纯电产品（理想i8、i6）爬坡节奏与高压超充网络的协同放量。上一季度公司已在全国形成较大规模超充覆盖，强调“城市+高速”双网络布局，有利于缓解用户补能顾虑，提升纯电转化。若i8与i6在三季度进入稳定交付阶段，叠加5C补能体验与座舱/智驾差异化卖点，有望在竞争激烈的30万至40万元区间争取份额。</p></li><li><p>影响传导路径在于：补能便利性降低用户里程焦虑，提升试驾转化与复购意愿；同时提升车主使用频次后带动生态与服务收入的潜在增长。短期毛利端可能承受新品推广与渠道营销投入的影响，但随着产能与供应链效率提升，单位成本有望逐季改善。</p></li><li><p>风险在于：若价格竞争加剧或新品上险量爬坡低于预期，营收与毛利率存在阶段性压力；门店与营销策略的区域化执行效果将决定获客效率。</p></li></ul><p style=\"text-align: start;\"><strong>VLA司机大模型与销售体系调整的落地</strong></p><ul style=\"list-style-type: disc;\"><li><p>本季度另一个关键变量是VLA司机大模型的推送覆盖和使用体验反馈。公司计划将VLA推广至更多AD Max车型，已在上一季度强调VLA在复杂城市道路、泊车与召唤等功能的体验升级，若三季度用户口碑持续发酵，将推动高配渗透率提高并带动单车收入结构改善。</p></li><li><p>销售体系“总部直管23个区域+市场营销与销服运营”新架构已到位，强调“因地制宜”与“数字化运营”。在本季度，区域化策略的执行（北方增程心智巩固、南方纯电卖点强化）以及中心店与商场店的组合优化，将直接影响线索质量、转化效率与库存/价格策略的平衡。</p></li><li><p>结合公司对三季度收入同比分别下降38.8%至42.1%的保守指引，管理层选择以产品与组织迭代换取中长期确定性，短期更关注质量增长与品牌价值稳固。若i6发布后的市场教育推进顺利，四季度后半段有望看到订单与交付的边际改善。</p></li></ul><p style=\"text-align: start;\"><strong>汽车销售结构变化</strong></p><ul style=\"list-style-type: disc;\"><li><p>二季度汽车销售收入占比95.50%，其中L系列保持规模，i8开启纯电曲线。本季度若i6加入并形成“中高端纯电双车”协同，结构性影响将体现在：纯电车型可能带来更高的选装渗透（智驾/座舱/补能权益），但短期会抬升营销与交付运营成本。</p></li><li><p>公司在电话会上明确减少SKU、回归单品爆款策略，有助于制造与供应链降复杂度、提高需求预测精度，进而改善库存周转与现金循环。三季度这个策略将处于早期验证阶段，对销量—利润的平衡与经销服务能力提出更高要求。</p></li><li><p>若区域市场竞争对手继续通过“以价换量”争夺份额，理想汽车需要在用户体验、智驾与补能等价值点上强化沟通，避免简单价格战带来的利润侵蚀；VLA体验与充电网络体验的真实口碑，可能成为最有效的非价格竞争筹码。</p></li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3c3d85d93b1f5b92b1a9d0ea43b2c159\" tg-width=\"1080\" tg-height=\"602\"/></p><h3 id=\"id_317831155\">分析师观点</h3><p><a href=\"https://laohu8.com/S/601108\" title=\"财通证券\" class=\"\">财通证券</a>发布研报称，<a href=\"https://laohu8.com/S/02015\" title=\"理想汽车-W\" class=\"\">理想汽车-W</a>)盈利能力稳健，智能化与组织升级驱动长期成长空间。该行预计公司2025–2027年实现Non-GAAP归母净利润47/80/124亿元，对应PE分别为32x/19x/12x。首次覆盖，给予“增持”评级。</p></body></html>","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>财报前瞻 | 理想汽车Q3面临营收下滑，新车型及大模型或带来新动力</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; 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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财报前瞻 | 理想汽车Q3面临营收下滑，新车型及大模型或带来新动力\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1017018787\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/decf3d8a922fc5c1c1d787bf8b36173f);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">财报Agent </p>\n<p class=\"h-time\">2025-11-20 17:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><em>摘要： <a href=\"https://laohu8.com/S/LI\">理想汽车</a> 将于11月26日美股盘前发布2025年第三季度财报。三季度理想汽车的交付量同比大幅下滑，营收必然受到影响，市场更加关注新车型的销售情况及AI方面的发展。</em></p><h3 id=\"id_528582728\">二季度回顾</h3><p>理想汽车二季度营收302亿元，车辆销售收入为289亿元。二季度经营利润达到8.27亿元，净利润11亿元。二季度汽车总交付量为111,074辆，同比增长2.3%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c672f9dd21e5bd387cfc2777ed19b42\" tg-width=\"1080\" tg-height=\"812\"/></p><h3 id=\"id_3388367749\">三季度预期</h3><p>已知数据：<strong>三季度理想汽车的总交付量仅为93211辆，较2024年同期的15.28万辆大幅下降了39%。不及公司自己设置的业绩指引（同比下降37.8%-41.1%）。</strong></p><p>根据老虎国际APP的数据，分析师目前预期理想汽车三季度营收267.1亿元人民币，同比减少37.7%；每股收益0.863元，同比减少67.54%；息税前利润1562万。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a012f3685feaf8f11374bccbc206f35\" tg-width=\"672\" tg-height=\"867\"/></p><h3 id=\"id_2560921757\">主要看点</h3><p><strong>纯电产品爬坡与补能网络协同</strong></p><ul style=\"list-style-type: disc;\"><li><p>本季度的核心看点在于纯电产品（理想i8、i6）爬坡节奏与高压超充网络的协同放量。上一季度公司已在全国形成较大规模超充覆盖，强调“城市+高速”双网络布局，有利于缓解用户补能顾虑，提升纯电转化。若i8与i6在三季度进入稳定交付阶段，叠加5C补能体验与座舱/智驾差异化卖点，有望在竞争激烈的30万至40万元区间争取份额。</p></li><li><p>影响传导路径在于：补能便利性降低用户里程焦虑，提升试驾转化与复购意愿；同时提升车主使用频次后带动生态与服务收入的潜在增长。短期毛利端可能承受新品推广与渠道营销投入的影响，但随着产能与供应链效率提升，单位成本有望逐季改善。</p></li><li><p>风险在于：若价格竞争加剧或新品上险量爬坡低于预期，营收与毛利率存在阶段性压力；门店与营销策略的区域化执行效果将决定获客效率。</p></li></ul><p style=\"text-align: start;\"><strong>VLA司机大模型与销售体系调整的落地</strong></p><ul style=\"list-style-type: disc;\"><li><p>本季度另一个关键变量是VLA司机大模型的推送覆盖和使用体验反馈。公司计划将VLA推广至更多AD Max车型，已在上一季度强调VLA在复杂城市道路、泊车与召唤等功能的体验升级，若三季度用户口碑持续发酵，将推动高配渗透率提高并带动单车收入结构改善。</p></li><li><p>销售体系“总部直管23个区域+市场营销与销服运营”新架构已到位，强调“因地制宜”与“数字化运营”。在本季度，区域化策略的执行（北方增程心智巩固、南方纯电卖点强化）以及中心店与商场店的组合优化，将直接影响线索质量、转化效率与库存/价格策略的平衡。</p></li><li><p>结合公司对三季度收入同比分别下降38.8%至42.1%的保守指引，管理层选择以产品与组织迭代换取中长期确定性，短期更关注质量增长与品牌价值稳固。若i6发布后的市场教育推进顺利，四季度后半段有望看到订单与交付的边际改善。</p></li></ul><p style=\"text-align: start;\"><strong>汽车销售结构变化</strong></p><ul style=\"list-style-type: disc;\"><li><p>二季度汽车销售收入占比95.50%，其中L系列保持规模，i8开启纯电曲线。本季度若i6加入并形成“中高端纯电双车”协同，结构性影响将体现在：纯电车型可能带来更高的选装渗透（智驾/座舱/补能权益），但短期会抬升营销与交付运营成本。</p></li><li><p>公司在电话会上明确减少SKU、回归单品爆款策略，有助于制造与供应链降复杂度、提高需求预测精度，进而改善库存周转与现金循环。三季度这个策略将处于早期验证阶段，对销量—利润的平衡与经销服务能力提出更高要求。</p></li><li><p>若区域市场竞争对手继续通过“以价换量”争夺份额，理想汽车需要在用户体验、智驾与补能等价值点上强化沟通，避免简单价格战带来的利润侵蚀；VLA体验与充电网络体验的真实口碑，可能成为最有效的非价格竞争筹码。</p></li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3c3d85d93b1f5b92b1a9d0ea43b2c159\" tg-width=\"1080\" tg-height=\"602\"/></p><h3 id=\"id_317831155\">分析师观点</h3><p><a href=\"https://laohu8.com/S/601108\" title=\"财通证券\" class=\"\">财通证券</a>发布研报称，<a href=\"https://laohu8.com/S/02015\" title=\"理想汽车-W\" class=\"\">理想汽车-W</a>)盈利能力稳健，智能化与组织升级驱动长期成长空间。该行预计公司2025–2027年实现Non-GAAP归母净利润47/80/124亿元，对应PE分别为32x/19x/12x。首次覆盖，给予“增持”评级。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2cd608dea059f96a8bee52aea078452e","relate_stocks":{"LI":"理想汽车","02015":"理想汽车-W"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133790875","content_text":"摘要： 理想汽车 将于11月26日美股盘前发布2025年第三季度财报。三季度理想汽车的交付量同比大幅下滑，营收必然受到影响，市场更加关注新车型的销售情况及AI方面的发展。二季度回顾理想汽车二季度营收302亿元，车辆销售收入为289亿元。二季度经营利润达到8.27亿元，净利润11亿元。二季度汽车总交付量为111,074辆，同比增长2.3%。三季度预期已知数据：三季度理想汽车的总交付量仅为93211辆，较2024年同期的15.28万辆大幅下降了39%。不及公司自己设置的业绩指引（同比下降37.8%-41.1%）。根据老虎国际APP的数据，分析师目前预期理想汽车三季度营收267.1亿元人民币，同比减少37.7%；每股收益0.863元，同比减少67.54%；息税前利润1562万。主要看点纯电产品爬坡与补能网络协同本季度的核心看点在于纯电产品（理想i8、i6）爬坡节奏与高压超充网络的协同放量。上一季度公司已在全国形成较大规模超充覆盖，强调“城市+高速”双网络布局，有利于缓解用户补能顾虑，提升纯电转化。若i8与i6在三季度进入稳定交付阶段，叠加5C补能体验与座舱/智驾差异化卖点，有望在竞争激烈的30万至40万元区间争取份额。影响传导路径在于：补能便利性降低用户里程焦虑，提升试驾转化与复购意愿；同时提升车主使用频次后带动生态与服务收入的潜在增长。短期毛利端可能承受新品推广与渠道营销投入的影响，但随着产能与供应链效率提升，单位成本有望逐季改善。风险在于：若价格竞争加剧或新品上险量爬坡低于预期，营收与毛利率存在阶段性压力；门店与营销策略的区域化执行效果将决定获客效率。VLA司机大模型与销售体系调整的落地本季度另一个关键变量是VLA司机大模型的推送覆盖和使用体验反馈。公司计划将VLA推广至更多AD Max车型，已在上一季度强调VLA在复杂城市道路、泊车与召唤等功能的体验升级，若三季度用户口碑持续发酵，将推动高配渗透率提高并带动单车收入结构改善。销售体系“总部直管23个区域+市场营销与销服运营”新架构已到位，强调“因地制宜”与“数字化运营”。在本季度，区域化策略的执行（北方增程心智巩固、南方纯电卖点强化）以及中心店与商场店的组合优化，将直接影响线索质量、转化效率与库存/价格策略的平衡。结合公司对三季度收入同比分别下降38.8%至42.1%的保守指引，管理层选择以产品与组织迭代换取中长期确定性，短期更关注质量增长与品牌价值稳固。若i6发布后的市场教育推进顺利，四季度后半段有望看到订单与交付的边际改善。汽车销售结构变化二季度汽车销售收入占比95.50%，其中L系列保持规模，i8开启纯电曲线。本季度若i6加入并形成“中高端纯电双车”协同，结构性影响将体现在：纯电车型可能带来更高的选装渗透（智驾/座舱/补能权益），但短期会抬升营销与交付运营成本。公司在电话会上明确减少SKU、回归单品爆款策略，有助于制造与供应链降复杂度、提高需求预测精度，进而改善库存周转与现金循环。三季度这个策略将处于早期验证阶段，对销量—利润的平衡与经销服务能力提出更高要求。若区域市场竞争对手继续通过“以价换量”争夺份额，理想汽车需要在用户体验、智驾与补能等价值点上强化沟通，避免简单价格战带来的利润侵蚀；VLA体验与充电网络体验的真实口碑，可能成为最有效的非价格竞争筹码。分析师观点财通证券发布研报称，理想汽车-W)盈利能力稳健，智能化与组织升级驱动长期成长空间。该行预计公司2025–2027年实现Non-GAAP归母净利润47/80/124亿元，对应PE分别为32x/19x/12x。首次覆盖，给予“增持”评级。","news_type":1,"symbols_score_info":{"LI":2,"02015":2}},"isVote":1,"tweetType":1,"viewCount":821,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":493792688255168,"gmtCreate":1761575621542,"gmtModify":1761577238400,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575509327606957","idStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 人小鹏6 7个点，你卧槽了……","listText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 人小鹏6 7个点，你卧槽了……","text":"$理想汽车(LI)$ 人小鹏6 7个点，你卧槽了……","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/493792688255168","isVote":1,"tweetType":1,"viewCount":3588,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":501559480124040,"gmtCreate":1763458460903,"gmtModify":1763458463071,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575509327606957","idStr":"3575509327606957"},"themes":[],"title":"","htmlText":"明天敢不敢拉10个点让我逃命","listText":"明天敢不敢拉10个点让我逃命","text":"明天敢不敢拉10个点让我逃命","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/501559480124040","repostId":"1141820756","repostType":2,"repost":{"id":"1141820756","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1763458060,"share":"https://www.laohunote.com/m/news/1141820756?lang=zh_CN&edition=full","pubTime":"2025-11-18 17:27","market":"hk","language":"zh","title":"小米集团Q3营收同比增长22.3%，经调整净利润创历史新高","url":"https://stock-news.laohu8.com/highlight/detail?id=1141820756","media":"老虎资讯综合","summary":"11月18日，$小米集团-W$发布2025年第三季度业绩。财报显示，第三季度总收入为人民币1,131亿元，同比增长22.3%。业务分部来看，2025年第三季度，“手机×AIoT”分部收入为人民币841亿元，同比增长1.6%；“智能电动汽车及AI等创新业务”分部收入为人民币290亿元，创历史新高，同比增长199.2%。本季度，集团经调整净利润为人民币113亿元，创历史新高，同比增长80.9%。2025年9月，我们全球月活跃用户数3再创历史新高，达到741.7百万，同比增长8.2%。","content":"<html><head></head><body><p>11月18日，<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>发布2025年第三季度业绩。财报显示，第三季度总收入为人民币1,131亿元，同比增长22.3%；经调整净利润为人民币113亿元，创历史新高，同比增长80.9%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9d0df803489313da898a3c1448dfa0a\" title=\"\" tg-width=\"1106\" tg-height=\"468\"/></p><h2 id=\"id_2834380405\">分业务来看：</h2><ul style=\"\"><li><p>2025年第三季度，“手机×AIoT”分部收入为人民币841亿元，同比增长1.6%，连续9个季度实现同比增长。“手机×AIoT”分部毛利率为22.1%，同比增长1.3个百分点。</p></li><li><p>2025年第三季度，智能手机业务收入为人民币460亿元。全球智能手机出货量为43.3百万台，同比增长0.5%。</p></li><li><p>2025年第三季度，IoT与生活消费产品业务收入为人民币276亿元，同比增长5.6%，毛利率为23.9%，同比提升3.2个百分点。</p></li><li><p>2025年第三季度，互联网服务业务收入达到人民币94亿元，创历史新高，比增长10.8%。</p></li><li><p>2025年第三季度，智能电动汽车及AI等创新业务分部收入为人民币290亿元，创历史新高。其中，智能电动汽车收入为人民币283亿元，其他相关业务收入为人民币7亿元。2025年第三季度，智能电动汽车及AI等创新业务分部首次实现单季度经营盈利11，本季度经营收益为人民币7亿元。</p></li></ul></body></html>","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>小米集团Q3营收同比增长22.3%，经调整净利润创历史新高</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小米集团Q3营收同比增长22.3%，经调整净利润创历史新高\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2025-11-18 17:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>11月18日，<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>发布2025年第三季度业绩。财报显示，第三季度总收入为人民币1,131亿元，同比增长22.3%；经调整净利润为人民币113亿元，创历史新高，同比增长80.9%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9d0df803489313da898a3c1448dfa0a\" title=\"\" tg-width=\"1106\" tg-height=\"468\"/></p><h2 id=\"id_2834380405\">分业务来看：</h2><ul style=\"\"><li><p>2025年第三季度，“手机×AIoT”分部收入为人民币841亿元，同比增长1.6%，连续9个季度实现同比增长。“手机×AIoT”分部毛利率为22.1%，同比增长1.3个百分点。</p></li><li><p>2025年第三季度，智能手机业务收入为人民币460亿元。全球智能手机出货量为43.3百万台，同比增长0.5%。</p></li><li><p>2025年第三季度，IoT与生活消费产品业务收入为人民币276亿元，同比增长5.6%，毛利率为23.9%，同比提升3.2个百分点。</p></li><li><p>2025年第三季度，互联网服务业务收入达到人民币94亿元，创历史新高，比增长10.8%。</p></li><li><p>2025年第三季度，智能电动汽车及AI等创新业务分部收入为人民币290亿元，创历史新高。其中，智能电动汽车收入为人民币283亿元，其他相关业务收入为人民币7亿元。2025年第三季度，智能电动汽车及AI等创新业务分部首次实现单季度经营盈利11，本季度经营收益为人民币7亿元。</p></li></ul></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/99b330c7a5fe2b62c4d008bd67f85ddd","relate_stocks":{"XIACY":"小米集团ADR","01810":"小米集团-W"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141820756","content_text":"11月18日，小米集团-W发布2025年第三季度业绩。财报显示，第三季度总收入为人民币1,131亿元，同比增长22.3%；经调整净利润为人民币113亿元，创历史新高，同比增长80.9%。分业务来看：2025年第三季度，“手机×AIoT”分部收入为人民币841亿元，同比增长1.6%，连续9个季度实现同比增长。“手机×AIoT”分部毛利率为22.1%，同比增长1.3个百分点。2025年第三季度，智能手机业务收入为人民币460亿元。全球智能手机出货量为43.3百万台，同比增长0.5%。2025年第三季度，IoT与生活消费产品业务收入为人民币276亿元，同比增长5.6%，毛利率为23.9%，同比提升3.2个百分点。2025年第三季度，互联网服务业务收入达到人民币94亿元，创历史新高，比增长10.8%。2025年第三季度，智能电动汽车及AI等创新业务分部收入为人民币290亿元，创历史新高。其中，智能电动汽车收入为人民币283亿元，其他相关业务收入为人民币7亿元。2025年第三季度，智能电动汽车及AI等创新业务分部首次实现单季度经营盈利11，本季度经营收益为人民币7亿元。","news_type":1,"symbols_score_info":{"XIACY":2,"01810":2}},"isVote":1,"tweetType":1,"viewCount":2123,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4203473475279660","authorId":"4203473475279660","name":"落单的秀儿","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":1,"authorIdStr":"4203473475279660","idStr":"4203473475279660"},"content":"56我就跑了，就说是韭菜股","text":"56我就跑了，就说是韭菜股","html":"56我就跑了，就说是韭菜股"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":533791472268688,"gmtCreate":1771341074309,"gmtModify":1771342532689,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575509327606957","idStr":"3575509327606957"},"themes":[],"title":"","htmlText":"阿里美团京东明明可以都不亏损，并且盈利的，有那点钱你特么搞点什么不好，非要打外卖","listText":"阿里美团京东明明可以都不亏损，并且盈利的，有那点钱你特么搞点什么不好，非要打外卖","text":"阿里美团京东明明可以都不亏损，并且盈利的，有那点钱你特么搞点什么不好，非要打外卖","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/533791472268688","isVote":1,"tweetType":1,"viewCount":7577,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3559770134796747","authorId":"3559770134796747","name":"牛逼的泡泡","avatar":"https://static.tigerbbs.com/9bf6916652a79d7028c26078fd497da4","crmLevel":5,"crmLevelSwitch":1,"authorIdStr":"3559770134796747","idStr":"3559770134796747"},"content":"是美团自己喜欢去打京东的腹地，就和当年朝鲜喜欢擅自去打韩国一样，后面被胖揍了，才后悔莫及，怪谁呢[笑哭]","text":"是美团自己喜欢去打京东的腹地，就和当年朝鲜喜欢擅自去打韩国一样，后面被胖揍了，才后悔莫及，怪谁呢[笑哭]","html":"是美团自己喜欢去打京东的腹地，就和当年朝鲜喜欢擅自去打韩国一样，后面被胖揍了，才后悔莫及，怪谁呢[笑哭]"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":576398884681912,"gmtCreate":1781745935469,"gmtModify":1781747027623,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3575509327606957","idStr":"3575509327606957"},"themes":[],"title":"","htmlText":"日韩每天创新高，你特么每天都是新低","listText":"日韩每天创新高，你特么每天都是新低","text":"日韩每天创新高，你特么每天都是新低","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/576398884681912","repostId":"1106235543","repostType":2,"repost":{"id":"1106235543","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1781745630,"share":"https://www.laohunote.com/m/news/1106235543?lang=zh_CN&edition=full","pubTime":"2026-06-18 09:20","market":"hk","language":"zh","title":"港股开盘 | 恒指低开0.69%，科指低开0.88%！存储概念股逆势上涨","url":"https://stock-news.laohu8.com/highlight/detail?id=1106235543","media":"老虎资讯综合","summary":"6月18日，恒生指数开盘下跌166.97点，跌幅0.69%，报24145.19点；恒生科技指数开盘下跌41.0点，跌幅0.88%，报4628.07点；国企指数开盘下跌71.31点，跌幅0.88%，报8072.72点；红筹指数开盘下跌22.5点，跌幅0.54%，报4149.33点。存储概念股普涨，南方两倍做多海力士涨超5%，南方两倍做多三星电子涨超2%，量化派涨近15%，拟推出智能硬件电商平台，纵深拓展物理AI多元场景；泡泡玛特跌超3%，德银给予“卖出”评级，预计下半年销售压力将进一步加剧。","content":"<html><head></head><body><p>6月18日，恒生指数开盘下跌166.97点，跌幅0.69%，报24145.19点；恒生科技指数开盘下跌41.0点，跌幅0.88%，报4628.07点；国企指数开盘下跌71.31点，跌幅0.88%，报8072.72点；红筹指数开盘下跌22.5点，跌幅0.54%，报4149.33点。</p><p>存储概念股普涨，<a href=\"https://laohu8.com/S/07709\">南方两倍做多海力士</a>涨超5%，<a href=\"https://laohu8.com/S/07747\">南方两倍做多三星电子</a>涨超2%，</p><p><a href=\"https://laohu8.com/S/02685\">量化派</a>涨近15%，拟推出智能硬件电商平台，纵深拓展物理AI多元场景；</p><p><a href=\"https://laohu8.com/S/09992\">泡泡玛特</a>跌超3%，德银给予“卖出”评级，预计下半年销售压力将进一步加剧。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta 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