继上周五（7月11日）大涨近6个点后，周一早间，蔚来-SW（09866.HK）股价继续强势拉升。截至午间 收盘，股价报32.40港元/股，涨幅10.77%。 随着二季度的结束，新能源汽车在2025年的厮杀已经进入了下半场，规模和利润成为投资者最关注的指 标。 近日，全球咨询公司艾睿铂（AlixPartners）在其年度行业深度分析报告《2025全球汽车展望》中预 测，在2024年销售新能源汽车的129个品牌中，有15个品牌到2030年仍将保持财务活力，市场将出现明 显的整合，只有最具竞争力的品牌有望在未来几年取得成功。该机构还称，经研究测算，车企如果要实 现盈利，纯电车一年40万辆和插混/增程式一年20万辆，将是一个关键的平衡点。 从销售规模来看，今年上半年，蔚来的半年度销量为11.42万辆，其中6月份销售2.49万辆，环比增 7.29%。但无论是以44万辆的年度目标还是机构预测的40万辆平衡点来看，蔚来要在今年四季度实现盈 利，仍然有较大的努力空间。 李斌称，对蔚来靠本事从低谷里面走出来依然有信心。乐道L90能否成为蔚来扭亏为盈的关键力量，三 季度或许会有一个相对明朗的答案。 市场认为，蔚来近日的股价表现， ...

（以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 本文源自：金融界 作者：行情君 机构评级方面，交银国际证券有限公司给予"买入"评级。 行业估值方面，汽车行业市盈率（TTM）平均值为15.96倍，行业中值8.43倍。蔚来-SW市盈率-2.53 倍，行业排名第42位；其他中国汽车内饰（00048.HK）为1.04倍、浦林成山（01809.HK）为3.41倍、 BRILLIANCE CHI（01114.HK）为4.72倍、郑煤机（00564.HK）为6.1倍、新晨动力（01148.HK）为 6.22倍。 资料显示，蔚来集团是高端智慧电动汽车市场的先驱及领跑者。成立於2014年11月,蔚来的使命是为用 户创造愉悦的生活方式。蔚来旨在建立一个以智慧电动汽车为起点的社区,与用户分享欢乐、共同成 长。蔚来设计、开发、合作制造并销售高端智慧电动汽车,推动自动驾驶、数位技术、电动力总成及电 池方面的新一代技术创新。蔚来通过持续的技术突破及创新脱颖而出,例如其行业领先的换电技术、电 池租用服务(BaaS)及独有的自动驾驶技术及自动驾驶订阅服务(ADaaS)。蔚来於2017年12月推出七座高 端 ...

2025.07. 14 本文字数：1088，阅读时长大约2分钟 作者 | 第一财经 葛慧 继上周五（7月11日）大涨近6个点后，周一早间，蔚来-SW（09866.HK）股价继续强势拉升。截 至午间收盘，股价报32.40港元/股，涨幅10.77%。 在L90发布后，机构也对蔚来表现出了较为乐观的预期。 交银国际分析师给予蔚来汽车"买入"评级，预计公司未来将通过边际改善（特别是销量回升）和降 本效果的实现，推动股价迎来短期反弹机会。中金公司发布研报称，当前蔚来港股对应2025年0.7x P/S，维持2025~2026年Non-GAAP净利润，维持跑赢行业评级。考虑公司兑现第四季度实现盈利 转正的指引信心强，维持港股目标价41港元。 随着二季度的结束，新能源汽车在2025年的厮杀已经进入了下半场，规模和利润成为投资者最关注 的指标。 近日，全球咨询公司艾睿铂（AlixPartners）在其年度行业深度分析报告《2025全球汽车展望》中 预测，在2024年销售新能源汽车的129个品牌中，有15个品牌到2030年仍将保持财务活力，市场 将出现明显的整合，只有最具竞争力的品牌有望在未来几年取得成功。该机构还称，经研究测算 ...

Group 1 - Guolian Minsheng (01456) expects a net profit of RMB 1.129 billion for the first half of 2025, representing a year-on-year increase of approximately 1183% [1] - NIO-SW (09866) saw a rise of over 10% as its sub-brand, Lido, officially launched pre-sales for its new model L90, priced starting at RMB 279,900, which is competitive against similar models [1] - China CNR (01766) rose over 7% following a profit warning, with the rail transit equipment industry showing high demand and Q2 performance exceeding expectations [1] Group 2 - Coal stocks experienced a broad increase, with companies like China Qinfa (00866) and China Shenhua (01088) rising over 4%, driven by strong coal prices amid high temperatures [1] - Zijin Mining (02899) saw a rise of 1.5%, with expected net profit growth of about 54% year-on-year for the first half of the year, although short-term impacts from copper tariffs are anticipated [1] Group 3 - WanGuo Data-SW (09698) increased over 6% after its REIT completed offline inquiries with a subscription multiple of 166 times, indicating significant valuation potential [2] - Hengrui Medicine (01276) rose over 4%, reaching a new high, with expectations that its performance and business development will act as key catalysts [2] - China Shipbuilding Defense (00317) increased over 5% as the merger of two shipbuilding companies approaches completion, with Q2 performance exceeding expectations [2] Group 4 - Bitcoin-related stocks saw significant gains, with Bit Origin (BTOG.US) rising 51.72% and SharpLink Gaming (SBET.US) increasing 17.15%, driven by a surge in Bitcoin prices [3] - Gold stocks strengthened amid geopolitical tensions, with Gold ETF (GLD.US) rising 0.96% and Barrick Mining (B.US) increasing 0.71% [3] Group 5 - British Petroleum (BP.US) rose 3.55% as the company anticipates an increase in Q2 oil production and strong trading performance [7] - Huami Technology (ZEPP.US) surged over 69%, projecting a 30% revenue growth for Q2, marking its first growth in three years [7]

Group 1 - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of July 14, 2025 [1] - The leading company by market capitalization is 台棋电 (Taiwan Semiconductor Manufacturing Company) with a valuation of 11,949.75 million [3] - Tencent Holdings ranks second with a market cap of 5,815.18 million, followed by Alibaba at 2,546.4 million [3][4] Group 2 - Xiaomi Group is ranked fourth with a market capitalization of 1,889.61 million, while Pinduoduo follows in fifth place with 1,489.35 million [3][4] - Meituan and NetEase are positioned sixth and seventh, with market caps of 929.41 million and 812.27 million respectively [3][4] - Other notable companies in the top 10 include 东方财富 (East Money) at 523.39 million and 中芯国际 (SMIC) at 476.15 million [4][5] Group 3 - The rankings continue with companies like 京东 (JD.com) at 448.31 million and 快手 (Kuaishou) at 356.11 million [4][5] - Baidu, 理想汽车 (Li Auto), and 贝壳 (Beike) are also included in the top 15, with market caps of 298.84 million, 296.08 million, and 221.89 million respectively [4][5] - The list concludes with 云费智联 (Yunfei Zhili) at 41.76 million, marking the 50th position [6]

Core Viewpoint - The Hong Kong automotive stocks experienced a significant upward trend, with notable gains in several key companies [1] Company Performance - NIO Inc. (09866.HK) saw an increase of over 10% [1] - Li Auto Inc. (02015.HK) rose nearly 4% [1] - Beijing Automotive Group (01958.HK) increased by approximately 2.5% [1] - Geely Automobile Holdings (00175.HK), GAC Group (02238.HK), and Brilliance China Automotive Holdings (01114.HK) all gained over 1% [1]

智通财经APP获悉，中金发布研报称，当前蔚来-SW(09866)港股对应2025年0.7x P/S，维持2025-26年 Non-GAAP净利润，维持跑赢行业评级。考虑公司兑现4Q实现盈利转正的指引信心强，维持港股目标价 41港币，对应2025年1.0x P/S，较当前股价存40%上行空间。7月10日，蔚来旗下品牌乐道汽车举行乐道 L90产品技术发布会，乐道L90预售定价超市场预期，该行预计L90有望在高端大三排SUV市场保持领 先。 中金主要观点如下： L90正式开启预售，综合产品竞争力强 乐道L90计划于7月底正式上市，并于8月1日开启交付，目前展车已陆续抵达全国所有乐道门店。产品 亮点上，通过公司积累的自研技术体系，升级了纯电三排大型SUV的空间、能耗、安全：1)大空间是大 三排SUV用户的核心刚需，L90通过包括轻量化、高集成、三电能力在内的36项通过技术创新达成的空 间优化， 实现了L90舱内纵向空间达到4195mm，二排过道宽度180毫米，同时纵向挑高达到1330毫米。 2)安全方面，L90智能辅助驾驶以"解放精力、减少事故"为理念，标配端到端架构AEB在内的45项主动 及智能安全辅助功能，基于公 ...

Group 1 - The Hang Seng Index opened down 0.16% and the Tech Index opened down 0.15% [1] - NIO Inc. (09866.HK) saw an increase of over 4.5% [1] - Li Ning Company Limited (02331.HK) and Nongfu Spring Co., Ltd. (09633.HK) both rose nearly 1.5% [1]

Core Viewpoint - NIO's sub-brand, Ladao, launched the L90 model with a starting price of 279,900 yuan for purchase and 193,900 yuan for battery rental, aiming to capture market share in the competitive electric SUV segment [1][2] Group 1: Product Launch and Pricing Strategy - The L90's pricing strategy aims to bring the price of large electric SUVs below 200,000 yuan, which has garnered significant industry attention [1] - NIO's CEO, Li Bin, emphasized that the L90 has a gross margin despite its low price, attributing this to technological innovation and supply chain efficiency [2] - The L90 features lightweight technology, with a 340 kW rear motor weighing only 79 kg, which reduces energy consumption and material usage [2] Group 2: Market Positioning and Consumer Insights - The L90 addresses consumer pain points such as space limitations and charging anxiety, offering features that enhance user experience [3] - NIO's strategy includes a rapid response to consumer feedback, ensuring that customers can see and experience the vehicle shortly after its announcement [3] Group 3: Competitive Landscape and Internal Collaboration - The electric SUV market is becoming increasingly competitive, with multiple new models launched in July, including the L90, XPeng G7, and others [4] - NIO's internal collaboration is crucial for success, with shared technology and systems between Ladao and NIO vehicles [4] Group 4: Financial Performance and Future Outlook - NIO is focused on achieving profitability in Q4, with a strong emphasis on user value creation and return on investment [5] - The company has invested over 60 billion yuan in R&D, with a significant portion allocated to foundational technologies [5] - NIO plans to expand its product line under the Ladao brand while maintaining a step-by-step approach to growth [5]

出品丨虎嗅汽车组 作者丨肖漫 头图丨视觉中国 "斌哥这回拼了。"在乐道L90技术发布会后，众多现场观众如此热议乐道L90的预售价格，以及在台 上讲了近 180 分钟产品技术的李斌。 在四季度盈利目标的压力下，蔚来已经没有犯错的机会。上半年，蔚来已经上市六款新品，手上的牌 仅剩三张。 全新产品乐道 L90 承载着蔚来能否逆转命运、实现盈利的希望。打赢了，蔚来可以赢得喘息；输 了，蔚来…… 本期车圈脉动，聚焦乐道L90，分析这款关系蔚来生死转折的新车，能否在竞争激烈的市场中打出漂 亮一仗。 【乐道二战，L90上场】 乐道L90车身长度5145mm，车宽1998mm，车高1766mm，轴距3110mm，定位旗舰级大三排 SUV。 空间大。乐道L90空间利用效率较高，后备箱空间达到430升，前备舱空间达到240L，用李斌的 话说，装得下"六人十箱"。 【竞品分析】 【战略承压：蔚来手上的牌不多 竞品车型理想i8即将上市。这两款纯电SUV之间已经暗中角力，在乐道L90技术发布日当天，理 想汽车CEO李想发微博讨论理想i8的举办场地，并且两款车型的正式上市时间都定在7月底。乐 道L90和理想i8两款大六座纯电SUV，难免 ...