研报掘金|华泰证券:维持理想汽车“买入”评级 对i8和i6销量表现展望乐观

格隆汇
Aug 04, 2025

华泰证券发表研究报告指,理想汽车i8正式上市,3款配置售价分别为32.18万、34.98万、36.98万元,Pro版和Max版售价与L8同版本的指导价相同,Ultra版较L8 Ultra版便宜1万元。该行看好i8搭载VLA模型、标配5C超充、宽敞舒适的座舱体验,对纯电车i8和i6(预计9月上市)上市的销量表现展望乐观,VLA模型上车后,公司的辅助驾驶能力有望维持国内第一梯队水平。 华泰证券维持此前预测,预计理想汽车2025至2027年一般公认会计原则(GAAP)归母净利分别103亿、158亿、178亿元,非通用会计准则(Non GAAP)净利润分别为130亿、186亿、208亿元。考虑到汇率波动,华泰证券微调理想汽车目标价为139.49港元,维持“买入”评级。

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