> 数据图表怎样理解各车企25Q2表现：小鹏、零跑超预期，其余符合预期2025-9-2各车企25Q2表现：小鹏、零跑超预期，其余符合预期图表：各车企25Q2业绩表现车企23Q31261.87 40.8%23Q41422.28 18.2%24Q1884.64 -5.7%24Q21340.82 21.7%24Q31575.79 24.9%24Q42196.73 54.5%25Q11334.80 50.9%25Q21571.95 17.2%824001944779626263986720113489215242701000804114515053.0%27.27%94.08 76.9%15.3 1.14 495.3232.6%34481921.5%21.66%36.3441.9%14.4 1.05 427.1448.4%48.27 55.8%18.40%22.29114.0%8.83.80.3838.5%25.08%80.18 16.2%15.1 0.85 537.0941.9%36665938.3%18.47%20.271812.0%14.6 0.55 430.9120.0%48.75 20.4%19.55%14.4560.7%8.8-24.00.7913.4%28.04%41.67 8.9%14.1 0.67 428.6047.6%27533325.2%20.04%32.281755.0%15.6 1.17 370.237.1%53.20 28.9%14.41%11.58-83.4%7.01.50.1940.2%22.43%84.66 38.1%13.6 0.86 485.6918.7%284336-5.0%21.36%38.51224.4%17.1 1.35 396.9928.3%45.39 -0.6%13.23%16.74145.0%8.71.00.3537.7%25.60%105.91 12.6%13.9 0.93 508.32.6%294144-14.7%20.80%33.50-7.8%17.3 1.14 342.4-19.8%39.61 -17.9%15.7%7.48-66.4%8.6-3.060.2761.3%19.81%142.26 77.4%14.4 0.93 599.4111.6%3794793.5%16.54%22.6411.7%15.8 0.60 487.713.2%51.20 5.0%16.2%37.42158.9%9.50.900.7159.8%23.87%87.46 109.9%13.3 0.87 400.19-6.6%256807-6.7%17.84%17.51-45.7%15.6 0.68 341.6-7.7%49.80 -6.4%13.9%13.5316.8%6.90.440.2616.1%18.74%56.27 -33.5%13.7 0.49 523.167.7%31298210.1%18.80%45.8619.1%16.7 1.47 385.3-2.9%41.60 -8.3%15.2%9.39-43.9%9.30.120.226比亚迪（收入、毛利、利润均剔除比亚迪电子）长城汽车长安汽车（单车利润剔除联营企业）收入（亿元）yoy销量（辆）yoy毛利率归母净利润（亿元）yoy单车收入（万元/车）单车利润（万元/车）收入（亿元）yoy销量（辆）yoy毛利率归母净利润（亿元）yoy单车收入（万元/车）单车利润（万元/车）收入（亿元）yoy并表销量（万辆）yoy毛利率归母净利润（亿元）yoy单车收入（万元/车）联营企业投资收益（亿元）单车利润（万元/车）来源：各公司公告、中泰证券研究所中泰证券综合其他
