平安证券研报指出，长城汽车全新坦克500智享版开启预售，此次新款坦克500共推出两个版本，其中Hi4-Z智享版预售价38.88万元，Hi4-T智享版预售价36.00万元，预售24小时订单突破11000台。公司的坦克品牌所处的细分赛道用户粘性强，坦克品牌目前已经构建起越野领域的护城河，品牌保值率高，在《2025Q1中国汽车保值率排行榜》中，坦克成为国内唯一3年保值率攀上60%的国产品牌，而根据坦克SUV公众号披露，坦克300三年保值率64.57%，位居紧凑型SUV保值率第一名。认为长城汽车的越野技术及品类护城河高，混动技术架构持续丰富+越野及泛越野品类特色持续锐化，通过Hi4-Z技术及智能化的技术加持，坦克品牌有望从小众走向大众，应用场景的多元化将带来更广阔的想象空间。根据最新情况，调整公司2025~2027年净利润预测为147亿/159亿/183亿元（此前预测值为154亿/169亿/182亿元），维持公司“推荐”评级。
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