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研報掘金丨國海證券:維持長城汽車“增持”評級,看好公司未來發展

國海證券研報指出,長城汽車銷量上行及結構改善,Q2業績同環比提升。2025Q2公司汽車銷量達31.3萬輛,同比+10.1%,環比+21.9%;對應單車均價達16.7萬元,環比+1.1萬元;單車扣非歸母淨利潤達0.7萬元,環比+0.1萬元。出口邊際提升,長城皮卡優勢穩固。坦克300Hi4-T完成了巴西首批用戶交車,柴油版在泰國市場也擁有較高認可度。公司海外競爭力不斷加強,全球化戰略有望持續推進。公司新品密集上市,智駕導入提速。公司海外競爭優勢穩固,盈利確定性較高,隨未來產品推出,公司銷量整體趨勢向上,預計公司未來收入等業績指標持續向好,看好公司未來發展,維持“增持”評級。

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