研報掘金丨中泰證券:維持賽力斯“買入”評級,利潤高增得益於結構改善
中泰證券研報指出,賽力斯25H1預計實現歸母淨利潤27.0-32.0億元,同比增長66.2%-97.0%;Q2預計實現歸母淨利潤19.5-24.5 億元,同比增長38.9%-74.5%,環比增長161.0%-227.8%。利潤高增得益於結構改善。上半年賽力斯汽車銷量15.2萬輛,同比下滑16.6%,利潤改善主要是得益於高端車型的增長,其中M9(定價46.98-56.98萬元)上半年銷量6.2萬輛,同比增長6.3%,M8(定價35.98-44.98萬)今年4月開始交付,上半年已交付4.1萬輛。M8/M9在手訂單豐厚,繼續高增可期。M8與2025款M9深受消費者青睞,M8上市34天訂單便突破8萬臺,M9上市64天大定突破6萬臺。維持“買入”評級。
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