金吾财讯 | 申万宏源研报指，吉利汽车(00175)2024年营业收入2401.94亿元，同比+34%。净利润为166.32亿元，同比+213%。4月10日发布25Q1盈利预告：预计2025Q1归母净利润为52-58亿元，扣除汇兑影响利润32-35亿，同比大幅增长，盈利能力超市场预期。公司新能源产品布局完备，规模效应增厚单车盈利。展望2025年，公司销量目标271万辆，其中新能源销量目标为150万辆，极氪32万辆，领克39万辆。智能化加速：公司将继续深化AI技术融合，提升产品智能化水平，推动销量增长和估值重塑。该行指，这是长期主义的胜利，纷繁复杂的竞争环境下，公司体系化作战的能力帮助其在竞争中保持相对优势。综合考虑领克并表，产品结构优化，激进的定价策略对销量的提振，海外需求持续等因素，上调公司2025-2026年营收预测由2575/2853亿至3681/4327亿，新增2027年营收预测为4867亿。上调同期净利润预测由95/116亿至129/158亿，新增2027年利润预测196亿。对应PE为12/10/8倍，维持买入评级。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.