Investment Rating - The report maintains a "Buy" rating for the company [1][8] Core Insights - The company has seen significant growth in the delivery of its AITO M8 model, with May deliveries reaching 12,116 units, and a weekly delivery rate exceeding 5,000 units [4][5] - The AITO M8 has received over 80,000 pre-orders, indicating strong market demand [5] - The company is also venturing into humanoid robotics, establishing a joint venture with Beihang University to develop and sell intelligent robots, which is expected to create new growth opportunities [5][8] - The company is planning to issue H-shares to enhance its global presence and competitiveness [7] Financial Projections - Revenue projections for 2025-2027 are estimated at 189.11 billion, 220.78 billion, and 263.83 billion respectively, with year-on-year growth rates of 30.26%, 16.75%, and 19.50% [8] - Net profit forecasts for the same period are 10.22 billion, 12.60 billion, and 15.51 billion, reflecting growth rates of 71.92%, 23.21%, and 23.13% [8] - The report anticipates a diluted earnings per share of 6.26 yuan in 2024, increasing to 9.49 yuan by 2027 [8] Stock Performance Data - The total share capital is 1.633 billion shares, with a market capitalization of 219.85 billion yuan [3] - The stock has seen a 12-month high of 149.89 yuan and a low of 70.24 yuan [3]

6月4日，富时罗素公布2025年6月富时中国50指数、富时中国A50指数、富时中国A150指数、富时中国A200指数以及富时中国A400指数季检结 果，该变更将于6月20日星期五收盘后生效。 据了解，富时罗素在选股的时候，一般都是根据专业分析、实地考察以及过往的盈利能力作为准则，因此被富时罗素"青睐"的公司在过去的一年经营情况在A股范 围内也是个中翘楚。 富时中国A50指数纳入江苏银行 富时中国A50指数此次将江苏银行纳入，剔除长城汽车，同时将百济神州、伊利股份、上汽集团、赛力斯、汇川技术等纳入备选名单。 富时中国A50指数由富时罗素编制并发布。该指数由上海和深圳证券交易所市场中总市值最大的50只股票组成，反映A股市场中最具影响力的前50大上市公司股票的 表现，不少国际投资者把这一指数看作是衡量中国市场的精确指标。 | 证券代码 | 证券简称 | | --- | --- | | 600919 | 江苏银行 | | | 富时中国A50指数剔除名单 | | 证券代码 | 证券简称 | | 601633 | 长城汽车 | | | 富时中国A50指数备用名单 | | 证券代码 | 证券简称 | | 688235 | ...

以下文章来源于网易清流工作室 ，作者梁耀丹 王晓悦 网易清流工作室 . 穿透迷雾，探寻真相。原创财经深度研究团队，信息来源均为公开的官方资料、媒体报道，以及普通人 皆可查询的数据库文件等。 作者：梁耀丹 王晓悦 来源：网易清流工作室 "汽车产业里的恒大已经存在，只不过是没爆而已。" 长城汽车董事长魏建军一席话在业内掀起轩 然大波。 中国汽车产业 "恒大化"了吗？谁又是汽车界的恒大？ 5 月 30 日，比亚迪集团品牌及公关处总经理李云飞驳斥："中国主流车企根本不存在所谓的'车 圈恒大'，任何唱衰中国新能源汽车的言论都是不可取的！" 孰是孰非，用数据说话。 围绕这一疑问，清流工作室统计了中国车企销量榜单，与全球排名前列的国际车企进行数据对 比，并重点关注国产三巨头比亚迪、上汽集团和吉利汽车的数据表现。 从目前的财务数据来看， 中国车企与恒大暴雷前后的指标有较大差距，且从资产负债率、有息负债上看，国产车企整体情 况实际上略优于国际车企。 不过，金融风险较低的另一面是，部分销量靠后的前十车企应付账款占比极高，个别付款账期更 长达 200 天。销量和营收排名前三的比亚迪和吉利汽车，账期低于 130 天，付款周期在国产车 ...

Group 1 - FTSE Russell announced the results of the June 2025 quarterly review, including the addition of Jiangsu Bank (600919) to the FTSE China A50 Index and the removal of Great Wall Motors (601633) [1] - Companies such as BeiGene, Yili Group (600887), SAIC Motor (600104), Seres (601127), and Huichuan Technology (300124) have been included in the watchlist for potential inclusion [1]

点击蓝字 关注我们 目 录 行业信息 1、前 4 月陕西汽车产量同比增长 33.3% 2、中国汽研与华为旗下引望签署战略合作 3、英伟达对华芯片供应最新消息：售价将大幅低于先前的 H20 芯片 预计最快于 6 月 开始量产 4、新疆霍尔果斯口岸 1-4 月出口汽车 10.6 万辆 5、5分钟充电 70%,广州企业领跑新能源车超快充赛道 6、车规芯片企业创展完成近亿元天使+轮融资 7、宁德时代:全固态电池 2027年有望实现小批量生产 8、吉利集团旗下电池公司吉曜通行:预计到 2027年形成 70GWh 电池产能规模 9、禾赛科技 Q1 营收 5.3 亿,交付量达 19.58 万台,毛利率 41.7% 10、小马智行与迪拜 RTA 达成战略合作,25 年将启动 Robotaxi 测试运营 11、德国首启 L4 自动驾驶载客公交测试项目,最高时速 130公里 12、英伟达 Q1 营收 440.62 亿美元,汽车芯片业务激增 72% 13、瑞银调查:电动汽车销售仍有望保持增长趋势 14、小马智行与广州公交集团达成战略合作 共同推动自动驾驶商业化 15、欧盟乘用车和厢式货车碳排放法规修正通过,桑性化对车企规制 16、 ...

@ JIN10.COM 金十数据 | 一个交易工具 JIN10.COM t . 金十图示：2025年06月04日（周三）全球汽车制造商市值变化 | (BHD) | 比亚迪 | 1547.15 | 1 +21.36 | 50.23 | | --- | --- | --- | --- | --- | | 法拉利 | | 847.78 | + -7.7 | 475.74 | | (人) 梅赛德斯奔驰 | | 567.34 | 1 +6.67 | 58.92 | | (15) | 宝马汽车 | 546.41 | ↑ +9.98 | 88.3 | | 入） 大众汽车 | 540.54 | 1 +3.44 | 107.05 | | --- | --- | --- | --- | | 通用汽车 | 471.68 | + +13.16 | 49.06 | | >6 玛鲁蒂铃木 | 451.08 | + -6.03 | 141.58 | | 保时捷 | 431.04 | + +1.55 | 47.32 | | 马恒达汽车 | 426.65 | 1 +2.88 | 35.56 | | C 本田汽车 | 423.87 | 1 +0 ...

东方证券表示，从投资策略上看，一季度汽车行业竞争加剧导致汽车公司盈利能力、现金流等整体表现 相对承压，但部分行业地位领先、经营管理效率较高的整车及零部件公司仍然实现净利润、毛利率、经 营性现金流同比改善，业绩表现跑优于行业平均水平；随着汽车"两新"政策以及地方促消费政策效果持 续释放、车展期间多款新车发布，预计二季度有望促进汽车公司业绩表现逐步回暖。建议持续关注部分 汽车行业央国企及人形机器人链、华为产业链、小米产业链、T链、智驾产业链公司。建议关注：上汽 集团、江淮汽车、比亚迪（002594）、长安汽车、中国重汽（000951）、广汽集团（601238）、宇通客 车（600066）；新泉股份（603179）、银轮股份（002126）、岱美股份（603730）、拓普集团 （601689）、嵘泰股份（605133）、经纬恒润、爱柯迪（600933）、保隆科技（603197）、精锻科技 （300258）、贝斯特（300580）、瑞鹄模具（002997）、上声电子、双林股份（300100）、华阳集团 （002906）、华域汽车（600741）、伯特利（603596）、德赛西威（002920）、科博达（603786） ...

Group 1: New Energy Vehicles Initiatives - The Ministry of Industry and Information Technology, along with other departments, announced the organization of the 2025 New Energy Vehicle rural promotion activities, targeting counties with low promotion ratios and high market potential [1] Group 2: Automotive Import Data - In April 2025, the import of complete automobiles reached 40,000 units, showing a month-on-month increase of 3.8% but a year-on-year decrease of 21.8%, with an import value of $2 billion [2] - From January to April 2025, total automobile imports amounted to 135,000 units, reflecting a year-on-year decline of 35.1%, with an import value of $6.94 billion, down 40.8% year-on-year [3] Group 3: Industry Competition and Quality - The National Federation of Industry and Commerce's Automotive Dealers Chamber issued an initiative to resist "involution" competition primarily based on price wars, advocating for high-quality development in the automotive dealership industry [4] - Stellantis Group appointed Sébastien Jacquet as the new Chief Quality Officer, effective immediately, succeeding Antonio Filosa [9] Group 4: Company Developments - BYD plans to launch a micro electric vehicle in Japan next year, with product development and market preparation progressing as scheduled [5] - Seres reported a 13.19% year-on-year increase in May sales, totaling 36,450 units, while cumulative sales from January to May decreased by 22.92% [6] - NIO announced a first-quarter 2025 delivery of 42,094 vehicles, a year-on-year increase of over 40%, with revenue exceeding 12 billion yuan and a gross margin of 10% [7] - Great Wall Motors published a patent for a human-machine co-driving control method, aimed at improving the interaction between autonomous driving systems and drivers [8] - Toyota Group is moving towards privatizing Toyota Automatic Loom Works, with investments totaling approximately 180 billion yen from various parties involved in the transaction [10] - Tesla's new car registrations in Norway surged by 213% year-on-year in May, reaching 2,600 units [10]

舒泰神公告，子公司江苏贝捷泰生物科技有限公司于近日收到了国家药品监督管理局下发的关于"注 射用STSP-0601"境内生产药品注册上市许可申请的《受理通知书》，本次申请附条件批准上市的 适应症为：本品可促进快速止血，适用于伴抑制物的血友病A或B成人患者出血按需治疗。公司本次 注射用STSP-0601附条件上市申请获得国家药监局受理，不会对公司当前业绩产生重大影响。后续 能否获得生产批件、具备上市资格尚存在诸多不确定。 德邦股份：目前暂未实际应用无人驾驶物流车 德邦股份发布股票交易风险提示性公告，公司关注到近期市场有关于"无人驾驶物流车"的热点概 念，公司目前暂未实际应用无人驾驶物流车，目前相关热点概念不会对公司业绩产生影响。 2025.06. 03 6月3日晚间，沪深两市多家上市公司发布公告，以下是第一财经对一些重要公告的汇总，供投资者 参考。 【品大事】 舒泰神：注射用STSP-0601附条件上市申请获国家药监局受理 华控赛格：董事长、董事会秘书及副总经理辞职 华控赛格公告，公司董事会于2025年6月3日收到董事长卫炳章、董事会秘书丁勤、副总经理潘景辉 的书面辞职报告。卫炳章因控股股东华融泰人事安排调整申请 ...

Core Viewpoint - The sales and production of Seres (601127.SH) have shown a recovery in May, driven by the stable performance of the AITO M8 and M9 models, although year-to-date figures indicate a decline compared to the previous year [2][7]. Production Summary - In May, Seres produced 40,499 new energy vehicles, a year-on-year increase of 9%, with a cumulative production of 131,007 vehicles for the year, reflecting an 18.57% decline year-on-year [2][5]. - The production of Seres vehicles (including AITO) reached 37,475 units in May, up 5.76% year-on-year, with a cumulative production of 113,682 units, down 21.97% year-on-year [2][5]. Sales Summary - In May, Seres sold 39,982 new energy vehicles, marking a 17.15% increase year-on-year, with a cumulative sales figure of 126,022 vehicles for the year, which is nearly a 20% decline year-on-year [2][5]. - The sales of Seres vehicles (including AITO) returned to the 30,000-unit level, reaching 36,450 units, a month-on-month increase of 33% and a year-on-year increase of 13.19%. However, the cumulative sales for the year stand at 108,788 units, down 22.92% year-on-year [2][5]. Model Performance - The AITO M9 has sold 50,500 units from January to May, contributing to about half of AITO's total sales. The introduction of the AITO M8 has filled a product gap in the 350,000 RMB price range, enhancing the sales structure [7]. - The AITO M9 delivered 15,481 units in May, making it the best-selling model in the 500,000 RMB segment in the Chinese passenger car market, while the AITO M8 delivered 12,116 units, leading in the 400,000 RMB segment [7]. Financial Performance - In Q1, Seres reported total revenue of 19.15 billion RMB, a year-on-year decline of 27.9%, but the net profit attributable to shareholders reached 750 million RMB, a significant increase of 240.6%, with a gross margin of 27.62% [7]. - The recent performance of new models has led to a visible recovery in sales since April, indicating potential for revenue growth [8]. IPO Plans - Seres is actively pursuing an IPO in Hong Kong, having submitted its application on April 28. The company plans to allocate 70% of the net proceeds for R&D, 20% for diversified marketing channels and overseas sales, and 10% for working capital and general corporate purposes [9].