《大行》高盛:小鹏(09868.HK)首季收入指引胜预期 料投资者关注毛利率指引等

阿斯达克财经
8 hours ago

高盛研究报告指,小鹏汽车(09868.HK) 2025年第四季毛利及EBIT均优于该行及市场预期,主要因服务及其他收入高于预期,以及政府补贴增加。虽然2026年首季交付量指引6.1万至6.6万辆较低,但收入指引122亿至132.8亿元人民币,则高于该行预期,可能受非汽车收入带动。该行预期投资者将关注小鹏汽车首季毛利率指引、人形机器人和自动驾驶的未来里程,以及全年新车型发布时间及海外扩张策略;现予“...

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