沧海一粟涛涛
2023-11-15
38.9亿,有9亿是大众入股小鹏带来的公允值变动,跟运营无关。扣掉9亿,亏损跟第二季度持平,但是汽车销量环比二季度翻倍,均摊到每辆车亏损大幅减少。看汽车毛利率也是提高了,预计四季度毛利率转正,最重要的信息没解读好。
@价值投资为王:
小鹏Q3:巨亏不可怕,关键还是看销量!
免责声明:上述内容仅代表发帖人个人观点,不构成本平台的任何投资建议。
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class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d41d98a57c12dbe225a6e53aacbeee10\" tg-width=\"816\" tg-height=\"697\"></p>\n<p>具体来看,小鹏三季度营收85.3亿人民币,同比增长25%,略不及分析师预期的85.8亿:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f05ce53d5fbdc013674a0a4e9b0950cc\" tg-width=\"1257\" tg-height=\"607\"></p>\n<p>营收同比增长在市场预期之内,毕竟小鹏每月都会公布销量,虽然不及市场预期,但幅度并不大,因此,营收端三季报过关。</p>\n<p>令市场大跌眼镜的是亏损金额,三季度高达38.9亿,创历史记录:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/731b7b1bdb3cfeb3eb7eb31152a608d3\" tg-width=\"1093\" tg-height=\"529\"></p>\n<p>巨亏的原因主要是汽车销售毛利率为负,三季度为-6.1%,不及分析师预期:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b66474d9eec7f2ba77fc03a80b8a07b7\" tg-width=\"1392\" tg-height=\"619\"></p>\n<p>而费用端,随着汽车销售增加,整体营收规模提升,在降本增效之下,小鹏严控各项投入,三季度研发投入负增长,销售及管理开支微增,几乎可以忽略不计。</p>\n<p>因此,小鹏三季度费用率大幅下降,预计随着汽车销量的提升,利润率将有所改善:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/476a989dfebc02a9163e6bf00a25f20b\" tg-width=\"1255\" tg-height=\"609\"></p>\n<p>虽然三季度巨亏,但小鹏的关键还是在于销量如何,三季报中,管理层预计四季度销量在59500-63500之间,虽然超过分析师预期的56150辆,但考虑到10月已交付20002辆,根据指引中值推算,11-12月月均销量在20749辆左右,环比增速降缓:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a208588eef1b6b075ea10ab2f29ddc5e\" tg-width=\"1378\" tg-height=\"664\"></p>\n<p>展望未来,小鹏仍需推出更多爆款车型才能扭转巨亏局面,在新能源汽车竞争加剧的当下,这极度考验管理层经营能力,投资者务必重点关注月度,甚至周度销量数据,这些比财报更加重要! <a href=\"https://laohu8.com/S/XPEV\">$小鹏汽车(XPEV)$</a> <a href=\"https://laohu8.com/S/09868\">$小鹏汽车-W(09868)$</a> </p></body></html>","htmlText":"<html><head></head><body><p>刚刚,小鹏汽车发布了三季报,营收略不及分析师预期,亏损幅度创历史记录,盘前股价一度大跌近4%:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d41d98a57c12dbe225a6e53aacbeee10\" tg-width=\"816\" tg-height=\"697\"></p>\n<p>具体来看,小鹏三季度营收85.3亿人民币,同比增长25%,略不及分析师预期的85.8亿:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f05ce53d5fbdc013674a0a4e9b0950cc\" tg-width=\"1257\" tg-height=\"607\"></p>\n<p>营收同比增长在市场预期之内,毕竟小鹏每月都会公布销量,虽然不及市场预期,但幅度并不大,因此,营收端三季报过关。</p>\n<p>令市场大跌眼镜的是亏损金额,三季度高达38.9亿,创历史记录:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/731b7b1bdb3cfeb3eb7eb31152a608d3\" tg-width=\"1093\" tg-height=\"529\"></p>\n<p>巨亏的原因主要是汽车销售毛利率为负,三季度为-6.1%,不及分析师预期:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b66474d9eec7f2ba77fc03a80b8a07b7\" tg-width=\"1392\" tg-height=\"619\"></p>\n<p>而费用端,随着汽车销售增加,整体营收规模提升,在降本增效之下,小鹏严控各项投入,三季度研发投入负增长,销售及管理开支微增,几乎可以忽略不计。</p>\n<p>因此,小鹏三季度费用率大幅下降,预计随着汽车销量的提升,利润率将有所改善:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/476a989dfebc02a9163e6bf00a25f20b\" tg-width=\"1255\" tg-height=\"609\"></p>\n<p>虽然三季度巨亏,但小鹏的关键还是在于销量如何,三季报中,管理层预计四季度销量在59500-63500之间,虽然超过分析师预期的56150辆,但考虑到10月已交付20002辆,根据指引中值推算,11-12月月均销量在20749辆左右,环比增速降缓:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a208588eef1b6b075ea10ab2f29ddc5e\" tg-width=\"1378\" tg-height=\"664\"></p>\n<p>展望未来,小鹏仍需推出更多爆款车型才能扭转巨亏局面,在新能源汽车竞争加剧的当下,这极度考验管理层经营能力,投资者务必重点关注月度,甚至周度销量数据,这些比财报更加重要! <a href=\"https://laohu8.com/S/XPEV\">$小鹏汽车(XPEV)$</a> <a href=\"https://laohu8.com/S/09868\">$小鹏汽车-W(09868)$</a> </p></body></html>","text":"刚刚,小鹏汽车发布了三季报,营收略不及分析师预期,亏损幅度创历史记录,盘前股价一度大跌近4%: 具体来看,小鹏三季度营收85.3亿人民币,同比增长25%,略不及分析师预期的85.8亿: 营收同比增长在市场预期之内,毕竟小鹏每月都会公布销量,虽然不及市场预期,但幅度并不大,因此,营收端三季报过关。 令市场大跌眼镜的是亏损金额,三季度高达38.9亿,创历史记录: 巨亏的原因主要是汽车销售毛利率为负,三季度为-6.1%,不及分析师预期: 而费用端,随着汽车销售增加,整体营收规模提升,在降本增效之下,小鹏严控各项投入,三季度研发投入负增长,销售及管理开支微增,几乎可以忽略不计。 因此,小鹏三季度费用率大幅下降,预计随着汽车销量的提升,利润率将有所改善: 虽然三季度巨亏,但小鹏的关键还是在于销量如何,三季报中,管理层预计四季度销量在59500-63500之间,虽然超过分析师预期的56150辆,但考虑到10月已交付20002辆,根据指引中值推算,11-12月月均销量在20749辆左右,环比增速降缓: 展望未来,小鹏仍需推出更多爆款车型才能扭转巨亏局面,在新能源汽车竞争加剧的当下,这极度考验管理层经营能力,投资者务必重点关注月度,甚至周度销量数据,这些比财报更加重要! $小鹏汽车(XPEV)$ $小鹏汽车-W(09868)$","highlighted":2,"essential":2,"paper":2,"link":"https://laohu8.com/post/241710121844936","repostId":0,"isVote":1,"tweetType":1,"commentLimit":10,"symbols":["XPEV","09868"],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":985,"xxTargetLangEnum":"ZH_CN"},"isVote":1,"tweetType":1,"viewCount":733,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":198,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/241766555349176"}
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