SIASUN(SZ:300024) Ge Long Hui·2025-08-29 18:53Core Insights - The new P7 model is officially launched, with a strong sales expectation of over 40,000 units per month from September to December, supported by its advanced features and performance [1] - The company is enhancing growth potential through its range extender technology and deepening collaboration with Volkswagen, which is expected to boost revenue opportunities [2] - The IRON humanoid robot has entered practical training, with significant advancements anticipated by the second half of 2025, showcasing the company's commitment to robotics [3] Group 1 - The new P7 model is launched with a price range of 219,800 to 301,800 yuan, featuring an 800V high-voltage SiC platform, 820 km range, and advanced AI capabilities [1] - The company expects the X9 range extender version to launch in Q4 2025, with a pure electric range of 450 km, enhancing its competitive edge [2] - The IRON robot, designed with 62 active degrees of freedom and advanced AI capabilities, is set to be integrated into various operational scenarios [3] Group 2 - The company maintains revenue forecasts of 85.6 billion, 127.6 billion, and 153.9 billion yuan for 2025 to 2027, respectively, with a target price of 120.34 HKD [3] - The collaboration with Volkswagen aims to expand the electronic and electrical architecture for both fuel and plug-in hybrid models in the Chinese market [2] - The company’s technology stack for the IRON robot aligns with its automotive technology, indicating a strategic integration of AI across its product lines [3]