证券研究报告|行业研究报告 [Table_Date] 2025 年 7 月 25 日 [Table_Title] 凯撒铝业 2025Q2 加工收入环比增长 3.0%至 3.74 亿美元，净利润环比增长 4.5%至 2300 万美元 [Table_Title2] 有色金属-海外季报 [Table_Summary] 季报重点内容: ► 经营及业绩情况 2025Q2 净销售额 8.23 亿美元，环比增长 1.57%，同比增长 6.5%。 2025Q2 合金金属套期成本为 4.49 亿美元，去年同期为 3.67 亿 美元。 2025Q2 加工收入为 3.74 亿美元，环比增长 3.0%，同比增长 1.4%。 2025Q2 单位加工收入为 1.30 美元/磅，环比下跌 1.5%，同比 上涨 4.8%。 2025Q2 的净利润为 2300 万美元，环比增长 4.5%，同比增长 21.1%。摊薄后每股收益为 1.41 美元，环比增长 7.6%，同比增 长 22.6%。 2025Q2 调整后净利润为 2000 万美元，环比减少 16.7%，同比 减少 25.9%。调整后摊薄后每股净收益为 1.21 美元，环比减少 16.0% ...

Group 1 - Xiaomi's Yu7 is set to launch at the end of June, with a starting price of around 250,000 RMB and expected monthly sales of 30,000 to 40,000 units [1][2] - The Yu7 features a 800V silicon carbide platform, a 96.3 kWh lithium iron phosphate battery with a CLTC range of 835 km, and advanced driver assistance systems [1] - The Yu7 has already attracted significant interest, with three times the number of user inquiries compared to the SU7 at the same stage, indicating a potential for greater market impact [1] Group 2 - The launch of the SU7 saw over 50,000 pre-orders within 27 minutes, leading to a surge in stock prices for related companies [3] - Companies such as Huayang Group and Longli Technology are set to supply components for the Yu7, indicating a robust supply chain [5][6] - Various suppliers, including Fuyou Glass and Baowu Magnesium, are providing essential parts for Xiaomi's automotive products, showcasing a diverse supplier network [7][8]