凤凰网科技讯 北京时间9月4日，据路透社报道，两位知情人士透露，比亚迪已将今年的销量目标下调 高达16%，降至460万辆。眼下，比亚迪正面临五年来最慢的年度增速，其他迹象显示其创纪录的扩张 时代可能接近尾声。 若以最新目标计算，比亚迪2025年销量同比增幅将收窄至7%，这将是其自2020年销量下滑7%以来最缓 慢的年度增长速度。 比亚迪（002594）今年3月曾对分析师表示，其2025年的销量目标为550万辆。但是，知情人士称，近几 个月，比亚迪已在内部多次下调了销量目标。 截至发稿，比亚迪尚未就此置评。(作者/箫雨) 据两位匿名知情人士透露，上个月，比亚迪已将最新销量目标定为至少460万辆，并通知了内部员工及 选定供应商，以便指导他们的业务规划。该目标仍可能根据市场情况变化进行调整。 知情人士没有透露比亚迪下调销量目标的具体原因。不过，其中一人表示，此举是在比亚迪感受到了与 吉利汽车、零跑汽车等对手竞争压力增大之际作出的。 上周，比亚迪公布的财报显示，季度利润下降30%，为三年多来首次出现下滑。 比亚迪的这一最新销量目标此前未被报道过，低于近期多位分析师下调后的预期。本周，德意志银行预 计，比亚迪今年销量为 ...

李云飞表示，今年上半年，比亚迪营收3713亿元，净利润155亿元，研发投入达309亿元，现金储备达1561亿元，国内纳税271亿元。"每天一睁眼，我们就投 入了1.7亿来搞研发，也是A股上市公司里研发投入最多的，比第2名多出近1倍。目前比亚迪的累计研发投入已超过2100多亿元。" 比亚迪郑州全地形赛车场今年8月14日开业，涵盖从直线加速到越野攀爬，还有浮水航行、沙漠冲坡等特色地形，还打造了世界上最高最大的冲沙测试场， 获得吉尼斯世界纪录。 9月3日，比亚迪品牌及公关处总经理李云飞透露，比亚迪计划首批投资50亿元，在合肥、郑州、绍兴等全国多地建设全地形的专业的赛车场，让好技术、好 体验都能人人可享。 ...

图片 | 来自网络，淡马锡官方网站截屏 整理 | TOP创新区研究院，FTA Group 转载引用请注明出处。内容仅供交流学习，不做任何商业用途，不代表任何投资建议。 如有侵权请联系后台删除。 淡马锡控股（Temasek Holdings）成立于1974年，是新加坡政府全资拥有的投资控股公司。 50年来，淡马锡从管理新加坡国内资产起步，成长为遍布全球的投资巨擘，净投资组合价值已从初创时的3.54亿新元增长到2025年的4340亿新元，20年期 股东回报率为7%。 它自称不是传统意义上的"主权财富基金"，而是秉承商业原则运作的全球性投资公司，它的身份，也已从单纯的国企资产持有者，拓展为既服务国家长期 战略又追求市场回报的"双重使命"主体。 作为一种"国家资本在市场中运作"的范式， 淡马锡的组织架构、投资模式以及在国家经济中的角色都具有独特性， 对其他国家的国有资本运营提供了重要借鉴和启示。 历史基因与国家角色 淡马锡诞生于新加坡独立后的发展关键期。 1965年新加坡独立时，政府继承了一批殖民时期或早期发展建立的国有企业和资产（如新加坡航空、港务、电信等），最初这些企业由各政府部门或法定 机构持有。 但随着经济发 ...

Group 1 - The core viewpoint of the articles highlights that the sales data for August shows significant growth for eight domestic car manufacturers, with BYD leading the sales at 373,626 units, marking an 8.5% increase year-on-year [1][4] - The new energy vehicle (NEV) transition is accelerating across various car manufacturers, with NEV sales becoming a crucial growth driver [1] - Among new forces in the automotive sector, companies like Leap Motor, Xpeng Motors, and NIO have achieved record monthly delivery volumes, while Li Auto has seen a decline in deliveries for three consecutive months [2][4] Group 2 - Leap Motor has raised its annual sales target, and Xpeng Motors' CEO expressed confidence in achieving quarterly profitability in Q4, aiming for monthly deliveries to exceed 40,000 units starting September [2] - Li Auto's CEO stated that 2025 will mark the company's entry into the pure electric SUV market, with a goal to rank among the top five in the high-end pure electric segment by the end of this year [2] - The sales figures for various manufacturers in August include: SAIC Group at 363,371 units (7.7% increase), China FAW at 277,800 units (10.1% increase), and Geely Auto Group at 250,167 units (5.2% increase) [4]

Core Insights - The article highlights that eight domestic car manufacturers reported significant sales growth in August, with BYD leading the market with 373,626 units sold, marking a year-on-year increase of 23% [1][3]. - The shift towards electric vehicles (EVs) is accelerating, with new energy vehicle sales becoming a crucial growth driver for these companies [1]. - Among new energy vehicle manufacturers, Leap Motor, Xiaopeng Motors, and NIO achieved record monthly delivery numbers, while Li Auto experienced a decline in deliveries for three consecutive months [1]. Sales Performance of Domestic Car Manufacturers - BYD: Sold 373,626 units in August, with a month-on-month increase of 8.5% and a year-on-year increase of 23% [3]. - SAIC Motor: Sold 363,371 units, showing a month-on-month increase of 7.7% and a year-on-year increase of 41% [3]. - China FAW: Sold 277,800 units, with a month-on-month increase of 10.1% and a year-on-year increase of 3.7% [3]. - Geely: Sold 250,167 units, reflecting a month-on-month increase of 5.2% and a year-on-year increase of 38% [3]. - Chery: Sold 242,736 units, with a month-on-month increase of 8.2% and a year-on-year increase of 14.6% [3]. - Changan: Sold 233,900 units, showing a month-on-month increase of 11.06% and a year-on-year increase of 25% [3]. - BAIC: Sold 135,000 units, with a month-on-month increase of 15.4% and a year-on-year increase of 3.3% [3]. - Great Wall: Sold 115,558 units, reflecting a month-on-month increase of 10.7% and a year-on-year increase of 22.3% [3]. Sales Performance of New Energy Vehicle Manufacturers - Leap Motor: Achieved sales of 57,066 units in August, with a month-on-month increase of 13.8% and a year-on-year increase of 88.3% [4]. - Xiaopeng Motors: Sold 37,709 units, marking a month-on-month increase of 27% and a year-on-year increase of 168.7% [4]. - NIO: Reported sales of 10,525 units, with a year-on-year decrease of 47.8% [4]. - Li Auto: Experienced a decline in sales, with monthly deliveries dropping below 30,000 units [1]. - The overall trend indicates that several new energy vehicle manufacturers are optimistic about achieving sales growth in the latter half of the year, with Leap Motor raising its annual sales target and Xiaopeng Motors aiming for over 40,000 monthly deliveries starting September [1].

Core Insights - In August, SAIC Motor and Geely Auto achieved year-on-year sales growth rates of 41% and 38% respectively, with the new energy sector showing strong performance. NIO's sales surpassed 30,000 units, setting a new historical high [1] Group 1: Sales Performance - Eight domestic automakers that have released August sales data all reported both year-on-year and month-on-month growth, with BYD leading the pack at 373,600 units sold [1] - SAIC Motor recorded the highest year-on-year growth rate among the companies [1] Group 2: New Energy Transition - The sales of new energy vehicles have become a significant growth driver for various automakers, indicating a notable acceleration in their transition to new energy models [1] Group 3: New Entrants Performance - New entrants such as Leap Motor, Xpeng Motors, and NIO (including Ladao and Firefly) achieved record monthly delivery volumes [1] - However, Li Auto experienced a decline in delivery volumes for three consecutive months, with monthly deliveries falling below 30,000 units [1] Group 4: Future Outlook - Several new entrants have released positive signals regarding sales or performance growth for the second half of the year. Leap Motor has raised its annual sales target [1] - Xpeng Motors' Chairman and CEO expressed confidence in achieving the first quarterly profit in Q4 this year, aiming for monthly deliveries to exceed 40,000 units starting September [1] - Li Auto's CEO stated that 2025 will mark the official entry into the pure electric SUV market, with a goal to "secure fifth and strive for third" in the high-end pure electric segment by the end of this year [1]

Investment Rating - The investment rating for BYD is "Buy" (maintained) [1] Core Views - In August 2025, BYD's sales reached 374,000 units, showing a month-on-month increase, with a focus on high-end products and exports [8] - The company is expected to achieve annual sales of over 5 million units, with a year-on-year growth of over 17%, including 900,000 to 1 million units in exports, representing a 128% increase [8] - The report anticipates a continuous increase in the share of pure electric vehicles and ongoing efforts in high-end product development and international expansion [8] - BYD's battery installations in August increased by 23%, with significant growth in external battery supply, projecting a total installation of 290-300 GWh for the year, a 50% year-on-year increase [8] - The forecast for net profit attributable to shareholders for 2025-2027 is 45 billion, 59 billion, and 71 billion yuan respectively, with corresponding P/E ratios of 22, 17, and 14 times [8] Financial Projections - Total revenue is projected to reach 777.1 billion yuan in 2024, 924.5 billion yuan in 2025, and 1,047.7 billion yuan in 2026, with year-on-year growth rates of 29.02%, 18.97%, and 13.33% respectively [1][9] - The net profit attributable to shareholders is expected to grow from 40.3 billion yuan in 2024 to 71 billion yuan in 2027, with growth rates of 34% in 2024 and 11.83% in 2025 [1][9] - The earnings per share (EPS) is forecasted to be 4.42 yuan in 2024, increasing to 7.79 yuan by 2027 [1][9]

此次亮相的T18环卫车属于第三代产品，集比亚迪商用车前沿技术大成。车辆搭载环卫定制纯电动底 盘、刀片电池、高效电机和智能电控系统，针对频繁启停工况做了优化，整车能耗最高降低15%。截至 目前，比亚迪已在北京投运超过3000台环卫车。 （文章来源：深圳商报） 【深圳商报讯】（记者刘育銮）长安街上，23台比亚迪T18纯电动环卫车以"高效、低噪、零排放"的卓 越表现，完成正式受阅方阵前的路面环卫保障任务，以"绿色方阵"彰显中国智造，向世界展现中国新能 源科技的硬实力与绿色担当。 这是比亚迪第三次承担国家级阅兵盛典环卫保障重任。从2015年"九三阅兵"、2019年庆祝新中国成立70 周年庆典，到今年的抗战胜利80周年纪念活动，十年间三次国家级盛会的"检阅"，不仅是对比亚迪商用 车品牌的信赖，也是对技术和品质的认可。 ...

Investors looking for stocks in the Gaming sector might want to consider either Boyd Gaming (BYD) or Take-Two Interactive (TTWO) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while o ...

| | | | 9月2日券商给予买入评级个股一览 | | | | | --- | --- | --- | --- | --- | --- | --- | | 股票代码 | 股票 | 机构 | 最新 | 最高目标价 | 收盘价 | 目标涨 板 | | | 简称 | | 评级 | 〔元) | (元) | 喝 块 | | 002594.SZ | 比亚 | 东吴证券 | 买入 | 161 | 110.02 | 46.34% 汽车 | | | | | | | | | | 000528.SZ | | 柳工 太平洋 | ポゾ | 15.82 | 10.91 | 机械 45% | | | | | | | | 设备 | | 600585.SH | 海螺 | 天风证券 | 买入 | 32.77 | 24.16 | 建筑 35.64% | | | 水泥 | | | | | 材料 | | 603876.SH | 鼎胜 | 东吴证券 | 买人 | 14 | 10.5 | 20 000 0 0 0 | | | 新材 | | | | | 金属 | | 002916.SZ | 深南 | 招银国际 | ポイ | 235 | 179.89 | ...