赛力斯上半年利润大涨81.03%，问界M8/M9改写高端新能源格局

Core Viewpoint - The company reported a significant profit increase of 81.03% in its 2025 semi-annual report, showcasing strong operational resilience amid industry challenges and validating its high-end strategy [1][2][9] Financial Performance - The company's revenue exceeded 624.02 billion yuan, with a net profit attributable to shareholders reaching 29.41 billion yuan, reflecting an 81.03% year-on-year growth [2][4] - Despite fluctuations in raw material prices and the reduction of new energy subsidies, the company achieved substantial profit growth, indicating the robustness of its financial performance [2] Product Strategy - The company has effectively positioned its product lineup to meet diverse consumer needs, launching the Wanjie M8 in April, which completes its product matrix across various price segments from 200,000 to 600,000 yuan [3] - The product matrix addresses three core user demands: safety and intelligence for young families and urban elites (Wanjie M5/M7), smart travel for family users (Wanjie M8), and cutting-edge features for tech enthusiasts (Wanjie M9) [3] Sales Performance - The company sold a total of 172,000 new energy vehicles in the first half of the year, with a particularly strong second-quarter performance, showing a year-on-year growth of 10.77% and a quarter-on-quarter increase of 115.49% [4][5] - The high-end market breakthrough has been a key driver for profit enhancement, with the Wanjie M9 achieving over 226,000 units delivered, securing its position as the sales champion in the segment above 500,000 yuan [5][6] Market Reaction - Following the release of the financial report, the company's stock price surged, with a rapid increase of over 2% within five minutes and a peak rise of 5% during the trading day, reflecting market confidence in its performance [7][8] - Multiple brokerages have issued positive forecasts and "buy" ratings for the company, recognizing its strong sales momentum and resilience in the high-end market [8] Conclusion - The company has successfully transitioned from a follower in the new energy market to a leader in the high-end segment, establishing a positive cycle where high-end products drive profitability, which in turn supports research and development [9] - With ongoing improvements in its high-end product matrix and growing user reputation, the company is poised for continued success in reshaping the competitive landscape of the new energy industry [9]