> 数据图表咨询下各位智能化零部件期间费用率变化情况
2025-8-0智能化零部件期间费用率变化情况◆ 智能化零部件公司跨过大规模投入期，整体期间费用管控良好，期间费用率呈现下降趋势。➢ 2025Q2费用率环比下降较大：经纬恒润（研发人员精简，研发费用大幅收窄）；德赛西威（内部管控较好）；沪光股份（收入提升规模效应）。➢ 2025Q2费用率环比提升较大：伯特利（研发费用增加较多）图：重点覆盖标的2025Q2期间费用率变化情况（同环比单位为pct）数据来源：公司公告，东吴证券研究所452024H2150.60%339.12%8.01%-149.09%2025H1175.02%327.98%7.33%349.95%25H1同比-0.96-174.34-0.7146.558.04%303.40%期间费用率地平线机器人黑芝麻智能2024H1175.98%502.33%耐世特小马智行期间费用率 2024Q1华域汽车德赛西威华阳集团经纬恒润中国汽研保隆科技伯特利均胜电子沪光股份10.34%12.96%14.14%49.61%15.87%21.96%8.84%11.83%6.93%2024Q22024Q32024Q42025Q12025Q28.47%12.40%13.87%36.16%14.15%19.56%9.03%10.52%8.26%9.37%11.46%12.65%29.40%16.05%17.78%8.71%11.33%7.57%8.92%10.05%10.31%20.13%23.76%16.64%6.05%16.69%5.84%8.95%13.27%12.58%33.18%16.54%16.24%7.39%13.74%8.06%8.52%11.26%12.19%22.06%16.78%16.18%8.85%13.55%6.70%25Q2同比 25Q2环比-0.43-2.01-0.39-11.120.24-0.061.46-0.19-1.350.05-1.15-1.69-14.102.63-3.38-0.193.03-1.55 
