赛力斯暴增！

Core Viewpoint - The company reported significant profit growth in its 2025 semi-annual financial results, driven by strong sales of high-end smart vehicles, particularly the Wanjie M9 and M8 models, which became market leaders in their respective price segments [1][2]. Financial Performance - The company achieved a revenue of 62.40 billion yuan in the first half of 2025, a decrease of 4.06% compared to the same period last year [2]. - The net profit attributable to shareholders reached 29.41 billion yuan, marking an impressive year-on-year increase of 81.03% [1][2]. - The total profit for the period was 3.72 billion yuan, reflecting a substantial increase of 119.22% compared to the previous year [2]. Sales and Market Position - The company sold 172,100 new energy vehicles in the first half of 2025, with the Wanjie series accounting for 85.4% of total sales [3]. - The Wanjie M9 and M8 models achieved sales of 62,000 and 35,000 units respectively, dominating the 500,000 yuan and 400,000 yuan market segments [3]. Profitability and Margins - The gross profit margin improved from 24.06% to 28.93%, driven by an increase in high-margin vehicle sales [3]. - The Wanjie M9 is expected to have a gross margin exceeding 35%, contributing over 1.5 billion yuan to net profit [3]. Strategic Insights - The company's profit surge indicates a shift in strategy, emphasizing product structure upgrades over mere volume expansion, contrasting with many competitors facing losses [3]. - The company aims to replicate its high-end success in the pure electric vehicle market, with plans for the Wanjie M8 electric version and ongoing development of the G series full-size SUVs [3].