同期小米汽车新增32家门店，全国119城门店总数已达402家。10月计划再增22家门店，预计首次进入郴州、达州、鄂尔多斯、邯郸、乐山、西宁6座新城。 截至9月30日，全国服务网点共209家，覆盖125座城市。 小米汽车日前介绍，公司CTB（Cell to Body）技术实现多项创新：电池包上盖集成车身地板与座椅横梁功能，高承重区高强钢及超高强度钢占比达95%，显 著提升结构强度；电池车身一体化带来47610 N·m/deg的超高扭转刚度，处于行业领先水平。安全设计上，全系电芯泄压阀均朝下布置，单电芯热失控时可 避免热量向乘员舱传递。CTB方案还使电池体积效率最高超80%，以小米YU7为例，CLTC续航最高达835 km，电池与车身地板总厚度仅120 mm，兼顾超长 续航、宽敞座舱与低重心稳定驾控。 10月1日，小米汽车公布：2025年9月单月交付量超40,000台，再创历史新高。 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][7] Core Insights - The company has launched a new stock incentive plan aimed at binding the core team and focusing on revenue growth, with a target compound annual growth rate (CAGR) of approximately 40% for revenue from 2025 to 2027. The projected net profits for 2025, 2026, and 2027 are estimated at 384 million, 596 million, and 772 million yuan respectively, with corresponding earnings per share (EPS) of 2.20, 3.42, and 4.43 yuan [7][8] - The company is expected to benefit from an increase in market share due to a faster product launch cycle and the introduction of differentiated new products, particularly in the mobile home storage segment, which is anticipated to see significant volume growth in 2026 [9] Financial Summary - The company's total revenue is projected to grow from 2,314 million yuan in 2023 to 9,367 million yuan in 2027, reflecting a year-on-year growth rate of 25.1% in 2027 [11][14] - The gross profit margin is expected to stabilize around 42.3% by 2027, with net profit margins improving from -7.5% in 2023 to 8.2% in 2027 [11][14] - The price-to-earnings (P/E) ratio is projected to decrease from -65.7 in 2023 to 14.8 in 2027, indicating an improving valuation as profitability increases [11][14]