长安汽车：7月深蓝S07正式上市，阿维塔领先开启乾崑ADS 3.0 BETA内测体验

Investment Rating - The report maintains a "Buy" rating for the company [2][7] Core Views - The company reported a total vehicle sales of 171,000 units in July, a year-on-year decrease of 17.9% and a month-on-month decrease of 24.2% [6] - The sales of the company's self-owned brands reached 139,000 units, down 18.5% year-on-year and 26.3% month-on-month [6] - The company launched the Deep Blue S07 in July, with a price range of 149,900 to 212,900 yuan, and saw a year-on-year increase in deliveries of 26.9% [6] - The company has entered the Latin American market, with the Deep Blue brand starting pre-sales in Mexico [6] Financial Summary - The company is expected to achieve net profits of 8.186 billion, 10.277 billion, and 12.639 billion yuan for the years 2024 to 2026, corresponding to P/E ratios of 16, 13, and 10 times respectively [7] - The total revenue forecast for 2024 is 186.713 billion yuan, with a projected growth rate of 23.4% [9] - The gross profit margin is expected to be 17.6% in 2024, with a slight increase to 18.0% in 2025 [9] - The company's total assets are projected to reach 215.391 billion yuan by 2024 [9]