蔚来集团于2025年11月25日发布的第三季度财报，呈现出一幅复杂的图景：交付量创历史新高、毛利率提升至三年顶点、首次实现正向经营活动现金流，这些亮点与营收不及预期、四季度交付目标下调的隐忧相互交织。盈利改善：毛利率创三年新高盈利能力的提升是本季度财报最亮眼的部分。蔚来综合毛利率达到13.9%，较去年同期提升3.2个百分点；车辆毛利率14.7%，同比提升1.6个百分点，双双创下近三年新高。首席财务...
Source Link蔚来集团于2025年11月25日发布的第三季度财报，呈现出一幅复杂的图景：交付量创历史新高、毛利率提升至三年顶点、首次实现正向经营活动现金流，这些亮点与营收不及预期、四季度交付目标下调的隐忧相互交织。盈利改善：毛利率创三年新高盈利能力的提升是本季度财报最亮眼的部分。蔚来综合毛利率达到13.9%，较去年同期提升3.2个百分点；车辆毛利率14.7%，同比提升1.6个百分点，双双创下近三年新高。首席财务...
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