智通财经APP获悉，大和发布研报称，予理想汽车-W(02015)“买入”评级，预期公司去年策略调整后将提升效率。不过，该行相信公司仍需时才能把握具身人工智能的增长机遇。
理想汽车2025年第四季业绩表现疲弱，主要因交付量下跌及研发开支增加。期内收入288亿元人民币(下同)，同比下跌35%，按季则上升5%。经调整非公认会计准则净利润2.61亿元，同比大跌94%，按季更下跌172%。全年计，收入同比下跌22%至1,120亿元，经调整非公认会计准则净利润同比下跌78%至24亿元。
管理层预期2026年第一季交付量为8.5万至9万辆，同比下跌3%至8.5%。第一季总收入预计为204亿至216亿元，同比下跌17%至21%; 目标2026年销量同比增长逾20%。
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