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问界周度分析
数说新能源· 2025-07-02 06:37
Core Viewpoint - The article highlights the significant growth in delivery numbers for the company, indicating a strong market position and potential for revenue growth in the upcoming quarters [1][5][8]. Delivery Performance - The company achieved a weekly delivery of 11,734 units, with M8 and M5 models showing steady increases, while M9 remained stable around 3,100 units [5]. - The order backlog stands at 69,000 units with a delivery cycle of approximately 2 months, indicating a healthy demand [5]. - The second quarter revenue is projected to be between 43 billion and 45 billion, with total deliveries expected to exceed 105,000 units [5]. Competitive Analysis - The company's weekly revenue gap with the second competitor has widened from 20 billion to 26 billion, with the company reaching a weekly revenue of 49.8 billion [8]. - Compared to competitors, the company's delivery numbers are on the rise, while another competitor, Li Auto, reported a year-on-year decline of 24% in deliveries [7][8]. Production Capacity - The production capacity for M9 and M8 has increased to a maximum of 8,800 units per week, reflecting a 10% improvement from the previous capacity of 8,000 units [1][5].
2024Q4、2025Q1业绩综述:总体符合预期,内外需均有韧性
Soochow Securities· 2025-05-06 07:32
证券研究报告 2024Q4&2025Q1业绩综述: 总体符合预期,内外需均有韧性 证券分析师 :黄细里 执业证书编号:S0600520010001 联系邮箱:huangxl@dwzq.com.cn 2025年5月6日 请务必阅读正文之后的免责声明部分 板块最新观点 2 ◼ 板块观点重申:5月优先AI智能化+机器人!优选【小鹏汽车+地平线】! ( ◼ 节前节后发生了哪些重要变化?中美贸易战或趋于缓和是最大的外在环境变化。美国允许对 进口汽车零部件、在美国组装汽车的汽车生产商进行一定程度的补偿,或是美国这轮持续加 征关税后的"松动表现",有助于大幅缓解此前市场对汽车因为中美贸易战持续升级所带来 的三层担忧:1)贸易战升级对汽车外需的影响;2)贸易战升级引发间接的汽车内需价格战; 3)小米事故引发智驾强监管。而假期期间美股特斯拉/港股汽车表现均较为强势,港股地平 线/小鹏汽车等领涨。 ◼ 当前时点汽车板块如何配置?我们依然坚持看好2025年【AI智能化/机器人+红利风格】两 条主线并存选股思路,5月看好AI智能化/机器人反弹空间或更大。【AI智能化/机器人】是 乘用车-零部件大板块核心矛盾。乘用车板块:港股优选【小 ...