熊虎扑的个人主页 - 老虎社区

熊虎扑

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IP属地：北京

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0勋章

09-10

$美团ADR(MPNGY)$ 这特妈的就是垃圾，真是不能做空，要是能做空这不就是送钱么

09-08

$理想汽车(LI)$ 真弱啊，弱爆了

08-28

$理想汽车(LI)$ 买了这玩意儿，**的压抑啊

08-28

$美团ADR(MPNGY)$ **的飞舞

08-14

$理想汽车(LI)$ **跌特么的几天了

08-04

$理想汽车(LI)$ 烂货哪有交易量啊

07-20

$理想汽车(LI)$ 哈哈，垃圾

07-15

$理想汽车(LI)$ 小鹏都回14了，哎

07-13

$理想汽车(LI)$ 这**

07-09

**

李想官宣“9系”旗舰纯电SUV理想i9：将推出Home版本，9月亮相

07-08

$理想汽车(LI)$ 🤣

07-06

$理想汽车(LI)$ 💩一样的东西，垃圾

07-01

牛逼，超理想三倍

零跑汽车：6月交付量达93376台，同比增长95%

06-30

$美团ADR(MPNGY)$ 这么**的大模型卵用没有

06-29

$理想汽车-W(02015)$ 这臭嗨，真**

06-26

回购都顶格了，还止不住跌，真是服了

理想汽车-W6月26日回购431.52万股，涉资约2.00亿港元

06-18

日韩每天创新高，你特么每天都是新低

港股开盘 | 恒指低开0.69%，科指低开0.88%！存储概念股逆势上涨

06-17

$理想汽车(LI)$ 还是死猪一头

06-16

然后今天就大跌4个点[开心]

补贴战落幕，美团迎来下一仗

06-10

$理想汽车-W(02015)$ 马上就看不到50以上的了

去老虎APP查看更多动态

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这**","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/585416006648128","isVote":1,"tweetType":1,"viewCount":1020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":583985048170648,"gmtCreate":1783605900125,"gmtModify":1783605901776,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"**","listText":"**","text":"**","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/583985048170648","repostId":"2650529947","repostType":2,"repost":{"id":"2650529947","kind":"news","pubTimestamp":1783586053,"share":"https://www.laohunote.com/m/news/2650529947?lang=zh_CN&edition=full","pubTime":"2026-07-09 16:34","market":"hk","language":"zh","title":"李想官宣“9系”旗舰纯电SUV理想i9：将推出Home版本，9月亮相","url":"https://stock-news.laohu8.com/highlight/detail?id=2650529947","media":"凤凰网科技","summary":"凤凰网科技讯 7月9日，理想汽车CEO李想宣布，理想汽车“9系”旗舰SUV家族即将增加一名新成员——理想i9，并将于9月亮相。可以看到，i9车尾带有特殊的“Home”徽标，我们将会在i9上推出Home版本，这将是继MEGA之后，理想的第二个Home。在车身尺寸方面，i9的车长达到了5225mm，配合高达3168mm的长轴距，为其注入了MEGA级别的大空间与舒适性。今日，李想还发文宣布，新一代理想L6将于7月16日正式发布。他称，在做新一代L6时团队“有点控制不住”，在用料和配置上不仅做到同级最好，还实现了“越级的好”。李想表示，新一代L6将成为该级别的“体验之王”。","content":"<html><body><p>凤凰网科技讯 7月9日，<a href=\"https://laohu8.com/S/LI\">理想汽车</a>CEO李想宣布，<a href=\"https://laohu8.com/S/02015\">理想汽车</a>“9系”旗舰SUV家族即将增加一名新成员——理想i9，并将于9月亮相。</p><p><img src=\"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEXy8vJkA4prAAAACklEQVQI12NgAAAAAgAB4iG8MwAAAABJRU5ErkJggg==\"/></p><p>可以看到，i9车尾带有特殊的“Home”徽标，我们将会在i9上推出Home版本，这将是继MEGA之后，理想的第二个Home。</p><p>在车身尺寸方面，i9的车长达到了5225mm，配合高达3168mm的长轴距，为其注入了MEGA级别的大空间与舒适性。</p><p><img src=\"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABAQMAAAAl21bKAAAAA1BMVEXy8vJkA4prAAAACklEQVQI12NgAAAAAgAB4iG8MwAAAABJRU5ErkJggg==\"/></p><p>今日，李想还发文宣布，新一代理想L6将于7月16日正式发布。他称，在做新一代L6时团队“有点控制不住”，在用料和配置上不仅做到同级最好，还实现了“越级的好”。李想表示，新一代L6将成为该级别的“体验之王”。</p></body></html>","source":"ifeng_tech","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>李想官宣“9系”旗舰纯电SUV理想i9：将推出Home版本，9月亮相</title>\n<style 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href=\"https://tech.ifeng.com/c/8ucaYM8Dc1q\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4548":"巴美列捷福持仓","BK4563":"昨日强势股","BK4503":"景林资产持仓","BK4555":"新能源车","02015":"理想汽车-W","BK4588":"碎股","BK4551":"寇图资本持仓","LI":"理想汽车","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","BK4099":"汽车制造商","BK4526":"热门中概股","BK4585":"ETF&股票定投概念"},"source_url":"https://tech.ifeng.com/c/8ucaYM8Dc1q","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2650529947","content_text":"凤凰网科技讯 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🤣","text":"$理想汽车(LI)$ 🤣","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/583640111485768","isVote":1,"tweetType":1,"viewCount":913,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":582926323692688,"gmtCreate":1783347489453,"gmtModify":1783351012293,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 💩一样的东西，垃圾","listText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 💩一样的东西，垃圾","text":"$理想汽车(LI)$ 💩一样的东西，垃圾","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/582926323692688","isVote":1,"tweetType":1,"viewCount":838,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":581001972782056,"gmtCreate":1782876291520,"gmtModify":1782876439721,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"牛逼，超理想三倍","listText":"牛逼，超理想三倍","text":"牛逼，超理想三倍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/581001972782056","repostId":"2648629591","repostType":2,"repost":{"id":"2648629591","kind":"live","pubTimestamp":1782875216,"share":"https://www.laohunote.com/m/news/2648629591?lang=zh_CN&edition=full","pubTime":"2026-07-01 11:06","market":"hk","language":"zh","title":"零跑汽车：6月交付量达93376台，同比增长95%","url":"https://stock-news.laohu8.com/highlight/detail?id=2648629591","media":"格隆汇","summary":"零跑汽车(9863.HK)：6月全球交付93376台，同比增长95%，上半年累计交付达356487台。截至2026年6月18日，零跑全球累计交付突破150万台，达成品牌发展重要里程碑。","content":"<html><head></head><body><p style=\"text-align: left;\"><span>零跑汽车(9863.HK)：6月全球交付93376台，同比增长95%，上半年累计交付达356487台。截至2026年6月18日，零跑全球累计交付突破150万台，达成品牌发展重要里程碑。</span></p></body></html>","source":"live_gelonghui","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>零跑汽车：6月交付量达93376台，同比增长95%</title>\n<style 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href=\"https://laohu8.com/S/MPNGY\">$美团ADR(MPNGY)$&nbsp;</a> 这么**的大模型卵用没有","listText":"<a href=\"https://laohu8.com/S/MPNGY\">$美团ADR(MPNGY)$&nbsp;</a> 这么**的大模型卵用没有","text":"$美团ADR(MPNGY)$ 这么**的大模型卵用没有","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/580804690187296","isVote":1,"tweetType":1,"viewCount":4769,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":580284391575592,"gmtCreate":1782701157744,"gmtModify":1782701159618,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/02015\">$理想汽车-W(02015)$&nbsp;</a> 这臭嗨，真**","listText":"<a href=\"https://laohu8.com/S/02015\">$理想汽车-W(02015)$&nbsp;</a> 这臭嗨，真**","text":"$理想汽车-W(02015)$ 这臭嗨，真**","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/580284391575592","isVote":1,"tweetType":1,"viewCount":834,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":579371746284232,"gmtCreate":1782478271772,"gmtModify":1782478672691,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"回购都顶格了，还止不住跌，真是服了","listText":"回购都顶格了，还止不住跌，真是服了","text":"回购都顶格了，还止不住跌，真是服了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/579371746284232","repostId":"1184392225","repostType":2,"repost":{"id":"1184392225","kind":"news","weMediaInfo":{"introduction":"港美股公告全覆盖","home_visible":1,"media_name":"公告速递","id":"1097772564","head_image":"https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e"},"pubTimestamp":1782473800,"share":"https://www.laohunote.com/m/news/1184392225?lang=zh_CN&edition=full","pubTime":"2026-06-26 19:36","market":"hk","language":"zh","title":"理想汽车-W6月26日回购431.52万股，涉资约2.00亿港元","url":"https://stock-news.laohu8.com/highlight/detail?id=1184392225","media":"公告速递","summary":"理想汽车-W于2026年6月26日发布公告，披露公司当日于香港联交所回购A类普通股共4,315,200股，占回购前已发行股份总数的0.2459%。本次回购每股价格介于45.90港元至46.64港元之间，合计耗资约2.00亿港元。回购完成后，公司已发行股份数目变更为1,750,370,141股，库藏股总数增至58,053,528股，已发行股份总数维持在1,808,423,669股不变。据公告，本次股份回购根据2026年5月29日通过的回购授权进行，该授权允许公司最多回购214,280,424股。","content":"<p>理想汽车-W（股票代码：02015）于2026年6月26日发布公告，披露公司当日于香港联交所回购A类普通股共4,315,200股（约431.52万股），占回购前已发行股份总数（不包括库藏股）的0.2459%。本次回购每股价格介于45.90港元至46.64港元之间，合计耗资约2.00亿港元。</p>\n<p>回购完成后，公司已发行股份（不包括库藏股）数目变更为1,750,370,141股，库藏股总数增至58,053,528股，已发行股份总数维持在1,808,423,669股不变。</p>\n<p>据公告，本次股份回购根据2026年5月29日通过的回购授权进行，该授权允许公司最多回购214,280,424股。截至目前，公司已累计回购38,462,188股，占授权通过当日已发行股份（不包括库藏股）总数的1.7949%。</p>\n<p>公司确认此次回购行为符合香港联合交易所有限公司证券上市规则及相关法规要求，本次公告由联席公司秘书王扬签署。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>理想汽车-W6月26日回购431.52万股，涉资约2.00亿港元</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ 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hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n理想汽车-W6月26日回购431.52万股，涉资约2.00亿港元\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1097772564\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">公告速递 </p>\n<p class=\"h-time\">2026-06-26 19:36</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>理想汽车-W（股票代码：02015）于2026年6月26日发布公告，披露公司当日于香港联交所回购A类普通股共4,315,200股（约431.52万股），占回购前已发行股份总数（不包括库藏股）的0.2459%。本次回购每股价格介于45.90港元至46.64港元之间，合计耗资约2.00亿港元。</p>\n<p>回购完成后，公司已发行股份（不包括库藏股）数目变更为1,750,370,141股，库藏股总数增至58,053,528股，已发行股份总数维持在1,808,423,669股不变。</p>\n<p>据公告，本次股份回购根据2026年5月29日通过的回购授权进行，该授权允许公司最多回购214,280,424股。截至目前，公司已累计回购38,462,188股，占授权通过当日已发行股份（不包括库藏股）总数的1.7949%。</p>\n<p>公司确认此次回购行为符合香港联合交易所有限公司证券上市规则及相关法规要求，本次公告由联席公司秘书王扬签署。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02015":"理想汽车-W"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184392225","content_text":"理想汽车-W（股票代码：02015）于2026年6月26日发布公告，披露公司当日于香港联交所回购A类普通股共4,315,200股（约431.52万股），占回购前已发行股份总数（不包括库藏股）的0.2459%。本次回购每股价格介于45.90港元至46.64港元之间，合计耗资约2.00亿港元。\n回购完成后，公司已发行股份（不包括库藏股）数目变更为1,750,370,141股，库藏股总数增至58,053,528股，已发行股份总数维持在1,808,423,669股不变。\n据公告，本次股份回购根据2026年5月29日通过的回购授权进行，该授权允许公司最多回购214,280,424股。截至目前，公司已累计回购38,462,188股，占授权通过当日已发行股份（不包括库藏股）总数的1.7949%。\n公司确认此次回购行为符合香港联合交易所有限公司证券上市规则及相关法规要求，本次公告由联席公司秘书王扬签署。","news_type":1,"symbols_score_info":{"02015":1}},"isVote":1,"tweetType":1,"viewCount":889,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":576398884681912,"gmtCreate":1781745935469,"gmtModify":1781747027623,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"日韩每天创新高，你特么每天都是新低","listText":"日韩每天创新高，你特么每天都是新低","text":"日韩每天创新高，你特么每天都是新低","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/576398884681912","repostId":"1106235543","repostType":2,"repost":{"id":"1106235543","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1781745630,"share":"https://www.laohunote.com/m/news/1106235543?lang=zh_CN&edition=full","pubTime":"2026-06-18 09:20","market":"hk","language":"zh","title":"港股开盘 | 恒指低开0.69%，科指低开0.88%！存储概念股逆势上涨","url":"https://stock-news.laohu8.com/highlight/detail?id=1106235543","media":"老虎资讯综合","summary":"6月18日，恒生指数开盘下跌166.97点，跌幅0.69%，报24145.19点；恒生科技指数开盘下跌41.0点，跌幅0.88%，报4628.07点；国企指数开盘下跌71.31点，跌幅0.88%，报8072.72点；红筹指数开盘下跌22.5点，跌幅0.54%，报4149.33点。存储概念股普涨，南方两倍做多海力士涨超5%，南方两倍做多三星电子涨超2%，量化派涨近15%，拟推出智能硬件电商平台，纵深拓展物理AI多元场景；泡泡玛特跌超3%，德银给予“卖出”评级，预计下半年销售压力将进一步加剧。","content":"<html><head></head><body><p>6月18日，恒生指数开盘下跌166.97点，跌幅0.69%，报24145.19点；恒生科技指数开盘下跌41.0点，跌幅0.88%，报4628.07点；国企指数开盘下跌71.31点，跌幅0.88%，报8072.72点；红筹指数开盘下跌22.5点，跌幅0.54%，报4149.33点。</p><p>存储概念股普涨，<a href=\"https://laohu8.com/S/07709\">南方两倍做多海力士</a>涨超5%，<a href=\"https://laohu8.com/S/07747\">南方两倍做多三星电子</a>涨超2%，</p><p><a href=\"https://laohu8.com/S/02685\">量化派</a>涨近15%，拟推出智能硬件电商平台，纵深拓展物理AI多元场景；</p><p><a href=\"https://laohu8.com/S/09992\">泡泡玛特</a>跌超3%，德银给予“卖出”评级，预计下半年销售压力将进一步加剧。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>港股开盘 | 恒指低开0.69%，科指低开0.88%！存储概念股逆势上涨</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n港股开盘 | 恒指低开0.69%，科指低开0.88%！存储概念股逆势上涨\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-06-18 09:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>6月18日，恒生指数开盘下跌166.97点，跌幅0.69%，报24145.19点；恒生科技指数开盘下跌41.0点，跌幅0.88%，报4628.07点；国企指数开盘下跌71.31点，跌幅0.88%，报8072.72点；红筹指数开盘下跌22.5点，跌幅0.54%，报4149.33点。</p><p>存储概念股普涨，<a href=\"https://laohu8.com/S/07709\">南方两倍做多海力士</a>涨超5%，<a href=\"https://laohu8.com/S/07747\">南方两倍做多三星电子</a>涨超2%，</p><p><a href=\"https://laohu8.com/S/02685\">量化派</a>涨近15%，拟推出智能硬件电商平台，纵深拓展物理AI多元场景；</p><p><a href=\"https://laohu8.com/S/09992\">泡泡玛特</a>跌超3%，德银给予“卖出”评级，预计下半年销售压力将进一步加剧。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c1cb237e736a4e03c939622e7b71e8e7","relate_stocks":{"82800":"盈富基金-R","83115":"安硕恒生指数—R","513600":"恒生指数ETF南方","03115":"安硕恒生指数","03417":"AGX恒科备兑","03032":"恒生科技ETF","03088":"华夏恒生科技","07500":"南方两倍做空恒指","03033":"南方恒生科技","03419":"A GX恒指备兑","VXUS":"国际股票ETF-Vanguard","09088":"华夏恒生科技-U","07552":"南方两倍做空恒科","BK4588":"碎股","07300":"南方一倍看空恒指","03037":"南方恒指ETF","09067":"安硕恒生科技-U","02837":"GX恒生科技","07200":"南方两倍做多恒指","02800":"盈富基金","03423":"招商恒生科技","07226":"南方两倍做多恒科","07709":"南方东英SK海力士每日杠杆最多 (2x) 产品","HSI":"恒生指数","02833":"恒指ETF","03067":"安硕恒生科技","HSTECH":"恒生科技指数","09115":"安硕恒生指数—U","BK4585":"ETF&股票定投概念"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106235543","content_text":"6月18日，恒生指数开盘下跌166.97点，跌幅0.69%，报24145.19点；恒生科技指数开盘下跌41.0点，跌幅0.88%，报4628.07点；国企指数开盘下跌71.31点，跌幅0.88%，报8072.72点；红筹指数开盘下跌22.5点，跌幅0.54%，报4149.33点。存储概念股普涨，南方两倍做多海力士涨超5%，南方两倍做多三星电子涨超2%，量化派涨近15%，拟推出智能硬件电商平台，纵深拓展物理AI多元场景；泡泡玛特跌超3%，德银给予“卖出”评级，预计下半年销售压力将进一步加剧。","news_type":1,"symbols_score_info":{"82800":0.6,"83115":0.6,"513600":0.6,"03067":0.6,"02800":0.6,"07300":0.6,"03115":0.6,"03033":0.6,"03037":0.6,"09088":0.6,"07226":0.6,"07552":0.6,"09067":0.6,"03417":0.6,"02833":0.6,"02837":0.6,"03423":0.6,"HSTECH":2,"VXUS":1.5,"07709":2,"03032":0.6,"03088":0.6,"03419":0.6,"09115":0.6,"HSI":1.5,"07500":0.6,"07200":0.6}},"isVote":1,"tweetType":1,"viewCount":603,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":576238130065824,"gmtCreate":1781706612526,"gmtModify":1781706807749,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 还是死猪一头","listText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 还是死猪一头","text":"$理想汽车(LI)$ 还是死猪一头","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/576238130065824","isVote":1,"tweetType":1,"viewCount":752,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":575810321619464,"gmtCreate":1781592646335,"gmtModify":1781593035789,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"然后今天就大跌4个点[开心]&nbsp;&nbsp;","listText":"然后今天就大跌4个点[开心]&nbsp;&nbsp;","text":"然后今天就大跌4个点[开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/575810321619464","repostId":"2643270763","repostType":2,"repost":{"id":"2643270763","kind":"news","pubTimestamp":1781521860,"share":"https://www.laohunote.com/m/news/2643270763?lang=zh_CN&edition=full","pubTime":"2026-06-15 19:11","market":"sh","language":"zh","title":"补贴战落幕，美团迎来下一仗","url":"https://stock-news.laohu8.com/highlight/detail?id=2643270763","media":"市场资讯","summary":"炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！　　对于全年经营走势，王兴做出预判：在理性竞争与季节性因素加持下，美团二季度UE有望迎来显著改善，但下半年UE的修复节奏，仍将取决于外部竞争环境如何演变，且第三、四季度配送成本偏高，会对盈利形成一","content":"<html><body><div>\n<blockquote><p>　　炒股就看<a href=\"https://laohu8.com/S/603586\">金麒麟</a>分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！</p></blockquote> <p>　　<span>来源：YOUNG财经 漾财经</span></p>\n<div><img src=\"http://n.sinaimg.cn/finance/crawl/117/w550h367/20260615/2ea6-e2d6aa6e2fe9ba252007368c6a8fae0e.jpg\"/><span></span></div>\n<p>　　资料图。</p>\n<p>　　补贴战落幕，<a href=\"https://laohu8.com/S/MPNGY\">美团</a>迎来下一仗</p>\n<p>　　王琳</p>\n<p>　　随着2025年外卖补贴大战的退潮，2026年一季度，<a href=\"https://laohu8.com/S/03690\">美团</a>也交出一份拐点型财报：</p>\n<p>　　数据显示，当期美团实现总营业收入910.39亿元，同比增长5.6%；虽受前期高投入影响归母净利润同比由盈转亏，但环比大幅减亏超百亿元。</p>\n<p>　　在随后召开的业绩会上，美团管理层直面行业竞争、盈利修复、新业务布局等核心问题，明确表态行业非理性价格战已阶段性退潮，公司战略重心全面转向以运营效率和用户体验为核心的阶段。</p>\n<p>　　不过，站在行业新阶段，迎来复苏起点的美团依然还有硬仗要打，又一轮赛道争夺战，才刚刚开启。</p>\n<p>　　外卖补贴回归理性</p>\n<p>　　2026年一季度，美团总营收910.39亿元，同比增长5.6%，收入端保持韧性增长，但盈利承压，同比由盈转亏。2025年一季度美团经调整净利润109.49亿元，2026年一季度转为亏损49.68亿元，不过环比维度改善亮眼，2025年四季度经调整净亏损150.8亿元，相比之下，2026年一季度亏损收窄超百亿。</p>\n<p>　　目前美团业务主要划分为两大板块：核心本地商业（主要包括外卖、到店酒旅、自有闪购）和新业务（主要包括小象超市、海外Keeta）。</p>\n<p>　　其中，核心本地商业板块一季度实现营收640.63亿元，同比微增0.1%，重回正增长，经营亏损收窄至20亿元，对比2025年四季度100亿元亏损，单板块减亏80亿元，是集团减亏核心支柱，财报称，这主要得益于实时配送业务亏损大幅减少。</p>\n<p>　　拆分收入结构来看，商家服务实现营收356.09亿元同比微涨，配送服务实现营收240.81亿元同比下滑6.5%，商品销售实现营收29.83亿元同比几乎翻了一倍。</p>\n<p>　　“第一季度在即时配送行业，不理性的补贴相较于上一季度有所缓和。”美团董事长兼CEO王兴在业绩会上直言，即便补贴力度收缩，美团的餐饮外卖业务仍然吸引了大量新用户，这表明消费者选择美团是因为全面可靠的服务，而不仅仅是价格激励。</p>\n<p>　　费用端的结构性优化也印证了战略转向。尽管同比仍有增长，但环比来看，2026年一季度销售及营销开支较上年四季度减少87亿元，销售成本环比下降29亿元，是亏损快速收缩的直接原因。2025年，面对行业补贴攻势，美团持续投放用户红包、商家免佣、骑手配送补贴等各类激励政策，进入2026年，平台开始收缩非理性补贴力度，不再单纯以补贴换订单量。</p>\n<p>　　美团CFO陈少晖补充表示，补贴下降后，美团自有配送业务的订单量和GTV（总交易额）保持了韧性的同比增长，自有配送业务的UE（单位经济效益）环比也显著改善，但自有配送业务的客单价和补贴水平仍需更多时间才能恢复到合理水平，因此它们继续影响着即时配送业务的收入增长和经营利润。</p>\n<p>　　作为公司传统的到店酒旅业务，管理层表示，本季度有效捕捉了假日消费增长和新兴消费趋势，实现了稳定增长，其中，休闲娱乐、运动健身、宠物服务等品类的订单量和GTV持续快速增长，同时，医美、居家养老、家装等服务业态也展现积极发展势头。</p>\n<p>　　新业务多点开花</p>\n<p>　　如果说核心本地商业承担着稳固基本盘、实现盈利修复的作用，那么新业务便是美团突破增长瓶颈、打开长期发展空间的关键引擎，也是本次财报的核心亮点。</p>\n<p>　　2026年第一季度，美团新业务（小象超市、海外Keeta）实现收入270亿元，同比增长21.3%，经营亏损收窄至21亿元，较四季度46亿元亏损收窄25亿元。拆分收入结构来看，商家服务实现营收24.5亿元，同比增长97.6%，商品销售实现营收179.9亿元，同比增长40.7%。</p>\n<p>　　值得注意的是，自2026年第一季度起，美团更新了收入的呈报方式以更好地契合业务的战 略演进，主要变动为：商品销售收入单独披露，以反映零售业务的战略重要性，商品销售收入指货品销售，主要来自食杂零售业务（主要包括小象超市及快驴）及其他自营品类如药品和酒类，商家服务收入合并了佣金收入及在线营销服务收入，以更好地反映为平台商家提供的一体化价值主张。</p>\n<p>　　陈少晖在业绩会上表示，生鲜日用品零售业务在运营效率提升和季节性利好支持下，亏损环比收窄，鉴于其日益增长的战略重要性和持续增长，本季度开始单独披露其产品销售数据。一季度生鲜日用品零售业务产生的产品销售收入同比增长约41%，为该分部的增长做出了重要贡献。</p>\n<p>　　分业务板块来看，小象超市持续加速线下布局，目前已覆盖55个城市，整体GTV保持高增。依托供应链能力升级，平台不断丰富高品质、高性价比商品，自有品牌销售额在整体交易中的占比持续提升。</p>\n<p>　　海外业务Keeta同样表现亮眼，在中国香港、沙特阿拉伯等成熟市场，依靠规模效应与精细化运营实现效率跃升，同步落地的中东、巴西等新兴市场也稳步起量，并且依托成熟的运营经验，新市场的盈利效率提升速度优于早期成熟市场。未来美团还将持续输出产品、技术与运营能力，优化海外用户消费及配送体验。</p>\n<p>　　除此之外，美团继续重仓科技研发，2026年一季度研发投入70亿元，较上年同期的58亿元同比增长22%，在总收入中的占比由6.7%同比增加1个百分比至7.7%。对此，美团在财报中解释称主要是对AI的投入增加所致。</p>\n<p>　　目前美团AI生态已全面落地全场景：C端AI助手“小团”入驻App核心导航栏，成为一级流量入口；B端“智能掌柜”累计服务超70万商家，本季度服务范围从单店拓展至连锁品牌，“数字员工”也已覆盖30余万家服务零售商户。今年4月，美团新一代大模型LongCat-2.0-Preview正式开启测试，模型总参数规模突破万亿，训练、推理全程依托国产算力集群完成。</p>\n<p>　　王兴表示，美团在AI领域要“进攻”而非“防守”，并将AI视为巩固护城河和释放新价值的重要战略机遇。</p>\n<p>　　在王兴看来，美团在本地生活领域更完整的业务覆盖，更全面真实的商户信息和用户评价，以及更可靠的履约体系，是美团的优势，将这些结构性优势与AI结合，为用户提供卓越的AI驱动的本地搜索体验。他还透露，美团AI助手“小美”与<a href=\"https://laohu8.com/S/00700\">腾讯</a>“元宝”的合作即将推出，届时，用户可直接在“元宝”中输入诉求，通过“小美”调用外卖等本地生活服务，帮助用户更便捷无缝地完成一站式本地生活服务的交易。</p>\n<p>　　即时零售市场的未来</p>\n<p>　　2025年上半年，外卖补贴大战全面打响，<a href=\"https://laohu8.com/S/BABA\">阿里</a>将饿了么更名淘宝闪购，将即时零售提升至集团一级战略，<a href=\"https://laohu8.com/S/JD\">京东</a>携百亿补贴高调杀入外卖市场，美团被迫应战，但代价是连续三个季度盈利转亏，2025年全年亏损规模突破230亿元，直到2026年一季度才迎来减亏拐点。</p>\n<p>　　在管理层看来，行业补贴回归理性，竞争重回运营效率与用户体验两大核心，恰好能够发挥美团的固有优势。这一波非理性竞争也印证：单纯依靠价格补贴拉动订单的模式难以为继，行业长期增长的核心，在于供给侧创新、供需精准匹配，而人工智能等技术，则是驱动全行业效率与体验升级的底层支撑，这些是健康可持续增长的真正基础，也是美团未来持续深耕的方向。</p>\n<p>　　对于全年经营走势，王兴做出预判：在理性竞争与季节性因素加持下，美团二季度UE（单位经济效益）有望迎来显著改善，但下半年UE的修复节奏，仍将取决于外部竞争环境如何演变，且第三、四季度配送成本偏高，会对盈利形成一定压力。订单层面，受去年高基数影响，下半年订单量或出现同比下滑，但订单结构将持续优化更加健康，因为消费者越来越愿意为质量付费，这对投资于优质供给的商家来说是一个非常积极的信号。</p>\n<p>　　展望更长期，王兴认为，美团继续看好中国餐饮市场的潜力，服务正成为越来越广泛人群的高频日常必需品，这一结构性转变提供了持续的市场深度渗透动力，行业用户群在持续扩大。</p>\n<p>　　而以小象超市为代表的即时零售，无疑是美团下一阶段的核心战略赛道。</p>\n<p>　　在美团管理层看来，即时零售市场的未来增长将由混合模式驱动，包括3PL 模式（如美团闪购）与 1P 模式（如小象超市），这是一种直接建立在美团核心优势之上的模式，并有清晰的盈利路径。</p>\n<p>　　为强化全渠道布局，美团同步推进线下实体门店建设：去年12月小象超市首家实体店落地北京，今年4月第二家门店进驻宁波，线下门店成为强化品牌认知、打通<a href=\"https://laohu8.com/S/300959\">线上线下</a>场景的重要载体。</p>\n<p>　　对于小象超市的长期发展，美团目标清晰：力争成长为国内头部线上零售品牌，实现可持续的低个位数稳定利润率。不止满足用户外卖点餐需求，更希望依托生鲜、食材等品类，覆盖家庭日常采购场景，打造成最受喜爱的零售品牌之一。</p>\n<p>　　根据商务部研究院今年初发布的《2025年即时零售行业发展报告》，我国即时零售行业正大步迈向万亿级规模，预计2026年将正式突破1万亿元，2030年将达2万亿元。报告指出，即时零售正向全链路生活服务升级，竞争围绕速度、确定性、场景适配等多维能力展开，即配市场或与电商快递平分秋色。</p>\n<p>　　在这样的背景下，除了美团，<a href=\"https://laohu8.com/S/09988\">阿里</a>、京东等也纷纷强调即时零售业务的重要性，并将其视作未来战略的核心。</p>\n<p>　　一季度的大幅减亏，让美团走出了补贴战的低谷，行情迎来修复。但放眼整个赛道，即时零售战场群雄逐鹿，供应链打磨、海外市场拓展、AI技术落地、成本管控等挑战依旧存在。走过短期阵痛的美团，在盈利修复的道路上，还有一场场硬仗等待攻克。■</p>\n<div>\n<div><img src=\"\"/></div>\n<div>海量资讯、精准解读，尽在新浪财经APP</div>\n</div>\n<p>责任编辑：杨红卜 </p>\n</div></body></html>","source":"sina","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" 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margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n补贴战落幕，美团迎来下一仗\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-06-15 19:11 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/stock/s/2026-06-15/doc-inicnuhq6781002.shtml><strong>市场资讯</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 　　来源：YOUNG财经 漾财经\n\n　　资料图。\n　　补贴战落幕，美团迎来下一仗\n　　王琳\n　　随着2025年外卖补贴大战的退潮，2026年一季度，美团也交出一份拐点型财报：\n　　数据显示，当期美团实现总营业收入910.39亿元，同比增长5.6%；虽受前期高投入影响归母净利润同比由盈转亏，但环比大幅减亏超百亿元。\n　　在随后...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/s/2026-06-15/doc-inicnuhq6781002.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0577902611.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"A\" (USD) ACC","LU0737861699.HKD":"FIDELITY CHINA FOCUS \"A \" (HKD) ACC","LU0633140560.USD":"AB EMERGING MARKET MULTI ASSET PORTFOLIO \"A\" (USD) ACC","LU0143863198.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"AU\" (USD) ACC","SG9999000459.SGD":"Aberdeen Standard Pacific Equity 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漾财经\n\n　　资料图。\n　　补贴战落幕，美团迎来下一仗\n　　王琳\n　　随着2025年外卖补贴大战的退潮，2026年一季度，美团也交出一份拐点型财报：\n　　数据显示，当期美团实现总营业收入910.39亿元，同比增长5.6%；虽受前期高投入影响归母净利润同比由盈转亏，但环比大幅减亏超百亿元。\n　　在随后召开的业绩会上，美团管理层直面行业竞争、盈利修复、新业务布局等核心问题，明确表态行业非理性价格战已阶段性退潮，公司战略重心全面转向以运营效率和用户体验为核心的阶段。\n　　不过，站在行业新阶段，迎来复苏起点的美团依然还有硬仗要打，又一轮赛道争夺战，才刚刚开启。\n　　外卖补贴回归理性\n　　2026年一季度，美团总营收910.39亿元，同比增长5.6%，收入端保持韧性增长，但盈利承压，同比由盈转亏。2025年一季度美团经调整净利润109.49亿元，2026年一季度转为亏损49.68亿元，不过环比维度改善亮眼，2025年四季度经调整净亏损150.8亿元，相比之下，2026年一季度亏损收窄超百亿。\n　　目前美团业务主要划分为两大板块：核心本地商业（主要包括外卖、到店酒旅、自有闪购）和新业务（主要包括小象超市、海外Keeta）。\n　　其中，核心本地商业板块一季度实现营收640.63亿元，同比微增0.1%，重回正增长，经营亏损收窄至20亿元，对比2025年四季度100亿元亏损，单板块减亏80亿元，是集团减亏核心支柱，财报称，这主要得益于实时配送业务亏损大幅减少。\n　　拆分收入结构来看，商家服务实现营收356.09亿元同比微涨，配送服务实现营收240.81亿元同比下滑6.5%，商品销售实现营收29.83亿元同比几乎翻了一倍。\n　　“第一季度在即时配送行业，不理性的补贴相较于上一季度有所缓和。”美团董事长兼CEO王兴在业绩会上直言，即便补贴力度收缩，美团的餐饮外卖业务仍然吸引了大量新用户，这表明消费者选择美团是因为全面可靠的服务，而不仅仅是价格激励。\n　　费用端的结构性优化也印证了战略转向。尽管同比仍有增长，但环比来看，2026年一季度销售及营销开支较上年四季度减少87亿元，销售成本环比下降29亿元，是亏损快速收缩的直接原因。2025年，面对行业补贴攻势，美团持续投放用户红包、商家免佣、骑手配送补贴等各类激励政策，进入2026年，平台开始收缩非理性补贴力度，不再单纯以补贴换订单量。\n　　美团CFO陈少晖补充表示，补贴下降后，美团自有配送业务的订单量和GTV（总交易额）保持了韧性的同比增长，自有配送业务的UE（单位经济效益）环比也显著改善，但自有配送业务的客单价和补贴水平仍需更多时间才能恢复到合理水平，因此它们继续影响着即时配送业务的收入增长和经营利润。\n　　作为公司传统的到店酒旅业务，管理层表示，本季度有效捕捉了假日消费增长和新兴消费趋势，实现了稳定增长，其中，休闲娱乐、运动健身、宠物服务等品类的订单量和GTV持续快速增长，同时，医美、居家养老、家装等服务业态也展现积极发展势头。\n　　新业务多点开花\n　　如果说核心本地商业承担着稳固基本盘、实现盈利修复的作用，那么新业务便是美团突破增长瓶颈、打开长期发展空间的关键引擎，也是本次财报的核心亮点。\n　　2026年第一季度，美团新业务（小象超市、海外Keeta）实现收入270亿元，同比增长21.3%，经营亏损收窄至21亿元，较四季度46亿元亏损收窄25亿元。拆分收入结构来看，商家服务实现营收24.5亿元，同比增长97.6%，商品销售实现营收179.9亿元，同比增长40.7%。\n　　值得注意的是，自2026年第一季度起，美团更新了收入的呈报方式以更好地契合业务的战 略演进，主要变动为：商品销售收入单独披露，以反映零售业务的战略重要性，商品销售收入指货品销售，主要来自食杂零售业务（主要包括小象超市及快驴）及其他自营品类如药品和酒类，商家服务收入合并了佣金收入及在线营销服务收入，以更好地反映为平台商家提供的一体化价值主张。\n　　陈少晖在业绩会上表示，生鲜日用品零售业务在运营效率提升和季节性利好支持下，亏损环比收窄，鉴于其日益增长的战略重要性和持续增长，本季度开始单独披露其产品销售数据。一季度生鲜日用品零售业务产生的产品销售收入同比增长约41%，为该分部的增长做出了重要贡献。\n　　分业务板块来看，小象超市持续加速线下布局，目前已覆盖55个城市，整体GTV保持高增。依托供应链能力升级，平台不断丰富高品质、高性价比商品，自有品牌销售额在整体交易中的占比持续提升。\n　　海外业务Keeta同样表现亮眼，在中国香港、沙特阿拉伯等成熟市场，依靠规模效应与精细化运营实现效率跃升，同步落地的中东、巴西等新兴市场也稳步起量，并且依托成熟的运营经验，新市场的盈利效率提升速度优于早期成熟市场。未来美团还将持续输出产品、技术与运营能力，优化海外用户消费及配送体验。\n　　除此之外，美团继续重仓科技研发，2026年一季度研发投入70亿元，较上年同期的58亿元同比增长22%，在总收入中的占比由6.7%同比增加1个百分比至7.7%。对此，美团在财报中解释称主要是对AI的投入增加所致。\n　　目前美团AI生态已全面落地全场景：C端AI助手“小团”入驻App核心导航栏，成为一级流量入口；B端“智能掌柜”累计服务超70万商家，本季度服务范围从单店拓展至连锁品牌，“数字员工”也已覆盖30余万家服务零售商户。今年4月，美团新一代大模型LongCat-2.0-Preview正式开启测试，模型总参数规模突破万亿，训练、推理全程依托国产算力集群完成。\n　　王兴表示，美团在AI领域要“进攻”而非“防守”，并将AI视为巩固护城河和释放新价值的重要战略机遇。\n　　在王兴看来，美团在本地生活领域更完整的业务覆盖，更全面真实的商户信息和用户评价，以及更可靠的履约体系，是美团的优势，将这些结构性优势与AI结合，为用户提供卓越的AI驱动的本地搜索体验。他还透露，美团AI助手“小美”与腾讯“元宝”的合作即将推出，届时，用户可直接在“元宝”中输入诉求，通过“小美”调用外卖等本地生活服务，帮助用户更便捷无缝地完成一站式本地生活服务的交易。\n　　即时零售市场的未来\n　　2025年上半年，外卖补贴大战全面打响，阿里将饿了么更名淘宝闪购，将即时零售提升至集团一级战略，京东携百亿补贴高调杀入外卖市场，美团被迫应战，但代价是连续三个季度盈利转亏，2025年全年亏损规模突破230亿元，直到2026年一季度才迎来减亏拐点。\n　　在管理层看来，行业补贴回归理性，竞争重回运营效率与用户体验两大核心，恰好能够发挥美团的固有优势。这一波非理性竞争也印证：单纯依靠价格补贴拉动订单的模式难以为继，行业长期增长的核心，在于供给侧创新、供需精准匹配，而人工智能等技术，则是驱动全行业效率与体验升级的底层支撑，这些是健康可持续增长的真正基础，也是美团未来持续深耕的方向。\n　　对于全年经营走势，王兴做出预判：在理性竞争与季节性因素加持下，美团二季度UE（单位经济效益）有望迎来显著改善，但下半年UE的修复节奏，仍将取决于外部竞争环境如何演变，且第三、四季度配送成本偏高，会对盈利形成一定压力。订单层面，受去年高基数影响，下半年订单量或出现同比下滑，但订单结构将持续优化更加健康，因为消费者越来越愿意为质量付费，这对投资于优质供给的商家来说是一个非常积极的信号。\n　　展望更长期，王兴认为，美团继续看好中国餐饮市场的潜力，服务正成为越来越广泛人群的高频日常必需品，这一结构性转变提供了持续的市场深度渗透动力，行业用户群在持续扩大。\n　　而以小象超市为代表的即时零售，无疑是美团下一阶段的核心战略赛道。\n　　在美团管理层看来，即时零售市场的未来增长将由混合模式驱动，包括3PL 模式（如美团闪购）与 1P 模式（如小象超市），这是一种直接建立在美团核心优势之上的模式，并有清晰的盈利路径。\n　　为强化全渠道布局，美团同步推进线下实体门店建设：去年12月小象超市首家实体店落地北京，今年4月第二家门店进驻宁波，线下门店成为强化品牌认知、打通线上线下场景的重要载体。\n　　对于小象超市的长期发展，美团目标清晰：力争成长为国内头部线上零售品牌，实现可持续的低个位数稳定利润率。不止满足用户外卖点餐需求，更希望依托生鲜、食材等品类，覆盖家庭日常采购场景，打造成最受喜爱的零售品牌之一。\n　　根据商务部研究院今年初发布的《2025年即时零售行业发展报告》，我国即时零售行业正大步迈向万亿级规模，预计2026年将正式突破1万亿元，2030年将达2万亿元。报告指出，即时零售正向全链路生活服务升级，竞争围绕速度、确定性、场景适配等多维能力展开，即配市场或与电商快递平分秋色。\n　　在这样的背景下，除了美团，阿里、京东等也纷纷强调即时零售业务的重要性，并将其视作未来战略的核心。\n　　一季度的大幅减亏，让美团走出了补贴战的低谷，行情迎来修复。但放眼整个赛道，即时零售战场群雄逐鹿，供应链打磨、海外市场拓展、AI技术落地、成本管控等挑战依旧存在。走过短期阵痛的美团，在盈利修复的道路上，还有一场场硬仗等待攻克。■\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：杨红卜","news_type":1,"symbols_score_info":{"03690":1.98,"HMTD.SI":0.6,"MPNGY":1.98}},"isVote":1,"tweetType":1,"viewCount":905,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":573563309042272,"gmtCreate":1781059827100,"gmtModify":1781060606964,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/02015\">$理想汽车-W(02015)$&nbsp;</a> 马上就看不到50以上的了","listText":"<a href=\"https://laohu8.com/S/02015\">$理想汽车-W(02015)$&nbsp;</a> 马上就看不到50以上的了","text":"$理想汽车-W(02015)$ 马上就看不到50以上的了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/573563309042272","isVote":1,"tweetType":1,"viewCount":735,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":502261389013752,"gmtCreate":1763641099496,"gmtModify":1763643420160,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"跌特么几个月了草","listText":"跌特么几个月了草","text":"跌特么几个月了草","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/502261389013752","repostId":"1133790875","repostType":2,"repost":{"id":"1133790875","kind":"news","weMediaInfo":{"introduction":"专注财报前瞻、财报解析的大模型Agent","home_visible":1,"media_name":"财报Agent","id":"1017018787","head_image":"https://community-static.tradeup.com/news/decf3d8a922fc5c1c1d787bf8b36173f"},"pubTimestamp":1763631076,"share":"https://www.laohunote.com/m/news/1133790875?lang=zh_CN&edition=full","pubTime":"2025-11-20 17:31","market":"us","language":"zh","title":"财报前瞻 | 理想汽车Q3面临营收下滑，新车型及大模型或带来新动力","url":"https://stock-news.laohu8.com/highlight/detail?id=1133790875","media":"财报Agent","summary":"理想汽车将于11月26日盘前发布三季度财报。","content":"<html><head></head><body><p><em>摘要： <a href=\"https://laohu8.com/S/LI\">理想汽车</a> 将于11月26日美股盘前发布2025年第三季度财报。三季度理想汽车的交付量同比大幅下滑，营收必然受到影响，市场更加关注新车型的销售情况及AI方面的发展。</em></p><h3 id=\"id_528582728\">二季度回顾</h3><p>理想汽车二季度营收302亿元，车辆销售收入为289亿元。二季度经营利润达到8.27亿元，净利润11亿元。二季度汽车总交付量为111,074辆，同比增长2.3%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c672f9dd21e5bd387cfc2777ed19b42\" tg-width=\"1080\" tg-height=\"812\"/></p><h3 id=\"id_3388367749\">三季度预期</h3><p>已知数据：<strong>三季度理想汽车的总交付量仅为93211辆，较2024年同期的15.28万辆大幅下降了39%。不及公司自己设置的业绩指引（同比下降37.8%-41.1%）。</strong></p><p>根据老虎国际APP的数据，分析师目前预期理想汽车三季度营收267.1亿元人民币，同比减少37.7%；每股收益0.863元，同比减少67.54%；息税前利润1562万。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a012f3685feaf8f11374bccbc206f35\" tg-width=\"672\" tg-height=\"867\"/></p><h3 id=\"id_2560921757\">主要看点</h3><p><strong>纯电产品爬坡与补能网络协同</strong></p><ul style=\"list-style-type: disc;\"><li><p>本季度的核心看点在于纯电产品（理想i8、i6）爬坡节奏与高压超充网络的协同放量。上一季度公司已在全国形成较大规模超充覆盖，强调“城市+高速”双网络布局，有利于缓解用户补能顾虑，提升纯电转化。若i8与i6在三季度进入稳定交付阶段，叠加5C补能体验与座舱/智驾差异化卖点，有望在竞争激烈的30万至40万元区间争取份额。</p></li><li><p>影响传导路径在于：补能便利性降低用户里程焦虑，提升试驾转化与复购意愿；同时提升车主使用频次后带动生态与服务收入的潜在增长。短期毛利端可能承受新品推广与渠道营销投入的影响，但随着产能与供应链效率提升，单位成本有望逐季改善。</p></li><li><p>风险在于：若价格竞争加剧或新品上险量爬坡低于预期，营收与毛利率存在阶段性压力；门店与营销策略的区域化执行效果将决定获客效率。</p></li></ul><p style=\"text-align: start;\"><strong>VLA司机大模型与销售体系调整的落地</strong></p><ul style=\"list-style-type: disc;\"><li><p>本季度另一个关键变量是VLA司机大模型的推送覆盖和使用体验反馈。公司计划将VLA推广至更多AD Max车型，已在上一季度强调VLA在复杂城市道路、泊车与召唤等功能的体验升级，若三季度用户口碑持续发酵，将推动高配渗透率提高并带动单车收入结构改善。</p></li><li><p>销售体系“总部直管23个区域+市场营销与销服运营”新架构已到位，强调“因地制宜”与“数字化运营”。在本季度，区域化策略的执行（北方增程心智巩固、南方纯电卖点强化）以及中心店与商场店的组合优化，将直接影响线索质量、转化效率与库存/价格策略的平衡。</p></li><li><p>结合公司对三季度收入同比分别下降38.8%至42.1%的保守指引，管理层选择以产品与组织迭代换取中长期确定性，短期更关注质量增长与品牌价值稳固。若i6发布后的市场教育推进顺利，四季度后半段有望看到订单与交付的边际改善。</p></li></ul><p style=\"text-align: start;\"><strong>汽车销售结构变化</strong></p><ul style=\"list-style-type: disc;\"><li><p>二季度汽车销售收入占比95.50%，其中L系列保持规模，i8开启纯电曲线。本季度若i6加入并形成“中高端纯电双车”协同，结构性影响将体现在：纯电车型可能带来更高的选装渗透（智驾/座舱/补能权益），但短期会抬升营销与交付运营成本。</p></li><li><p>公司在电话会上明确减少SKU、回归单品爆款策略，有助于制造与供应链降复杂度、提高需求预测精度，进而改善库存周转与现金循环。三季度这个策略将处于早期验证阶段，对销量—利润的平衡与经销服务能力提出更高要求。</p></li><li><p>若区域市场竞争对手继续通过“以价换量”争夺份额，理想汽车需要在用户体验、智驾与补能等价值点上强化沟通，避免简单价格战带来的利润侵蚀；VLA体验与充电网络体验的真实口碑，可能成为最有效的非价格竞争筹码。</p></li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3c3d85d93b1f5b92b1a9d0ea43b2c159\" tg-width=\"1080\" tg-height=\"602\"/></p><h3 id=\"id_317831155\">分析师观点</h3><p><a href=\"https://laohu8.com/S/601108\" title=\"财通证券\" class=\"\">财通证券</a>发布研报称，<a href=\"https://laohu8.com/S/02015\" title=\"理想汽车-W\" class=\"\">理想汽车-W</a>)盈利能力稳健，智能化与组织升级驱动长期成长空间。该行预计公司2025–2027年实现Non-GAAP归母净利润47/80/124亿元，对应PE分别为32x/19x/12x。首次覆盖，给予“增持”评级。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>财报前瞻 | 理想汽车Q3面临营收下滑，新车型及大模型或带来新动力</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n财报前瞻 | 理想汽车Q3面临营收下滑，新车型及大模型或带来新动力\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1017018787\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/decf3d8a922fc5c1c1d787bf8b36173f);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">财报Agent </p>\n<p class=\"h-time\">2025-11-20 17:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><em>摘要： <a href=\"https://laohu8.com/S/LI\">理想汽车</a> 将于11月26日美股盘前发布2025年第三季度财报。三季度理想汽车的交付量同比大幅下滑，营收必然受到影响，市场更加关注新车型的销售情况及AI方面的发展。</em></p><h3 id=\"id_528582728\">二季度回顾</h3><p>理想汽车二季度营收302亿元，车辆销售收入为289亿元。二季度经营利润达到8.27亿元，净利润11亿元。二季度汽车总交付量为111,074辆，同比增长2.3%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c672f9dd21e5bd387cfc2777ed19b42\" tg-width=\"1080\" tg-height=\"812\"/></p><h3 id=\"id_3388367749\">三季度预期</h3><p>已知数据：<strong>三季度理想汽车的总交付量仅为93211辆，较2024年同期的15.28万辆大幅下降了39%。不及公司自己设置的业绩指引（同比下降37.8%-41.1%）。</strong></p><p>根据老虎国际APP的数据，分析师目前预期理想汽车三季度营收267.1亿元人民币，同比减少37.7%；每股收益0.863元，同比减少67.54%；息税前利润1562万。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a012f3685feaf8f11374bccbc206f35\" tg-width=\"672\" tg-height=\"867\"/></p><h3 id=\"id_2560921757\">主要看点</h3><p><strong>纯电产品爬坡与补能网络协同</strong></p><ul style=\"list-style-type: disc;\"><li><p>本季度的核心看点在于纯电产品（理想i8、i6）爬坡节奏与高压超充网络的协同放量。上一季度公司已在全国形成较大规模超充覆盖，强调“城市+高速”双网络布局，有利于缓解用户补能顾虑，提升纯电转化。若i8与i6在三季度进入稳定交付阶段，叠加5C补能体验与座舱/智驾差异化卖点，有望在竞争激烈的30万至40万元区间争取份额。</p></li><li><p>影响传导路径在于：补能便利性降低用户里程焦虑，提升试驾转化与复购意愿；同时提升车主使用频次后带动生态与服务收入的潜在增长。短期毛利端可能承受新品推广与渠道营销投入的影响，但随着产能与供应链效率提升，单位成本有望逐季改善。</p></li><li><p>风险在于：若价格竞争加剧或新品上险量爬坡低于预期，营收与毛利率存在阶段性压力；门店与营销策略的区域化执行效果将决定获客效率。</p></li></ul><p style=\"text-align: start;\"><strong>VLA司机大模型与销售体系调整的落地</strong></p><ul style=\"list-style-type: disc;\"><li><p>本季度另一个关键变量是VLA司机大模型的推送覆盖和使用体验反馈。公司计划将VLA推广至更多AD Max车型，已在上一季度强调VLA在复杂城市道路、泊车与召唤等功能的体验升级，若三季度用户口碑持续发酵，将推动高配渗透率提高并带动单车收入结构改善。</p></li><li><p>销售体系“总部直管23个区域+市场营销与销服运营”新架构已到位，强调“因地制宜”与“数字化运营”。在本季度，区域化策略的执行（北方增程心智巩固、南方纯电卖点强化）以及中心店与商场店的组合优化，将直接影响线索质量、转化效率与库存/价格策略的平衡。</p></li><li><p>结合公司对三季度收入同比分别下降38.8%至42.1%的保守指引，管理层选择以产品与组织迭代换取中长期确定性，短期更关注质量增长与品牌价值稳固。若i6发布后的市场教育推进顺利，四季度后半段有望看到订单与交付的边际改善。</p></li></ul><p style=\"text-align: start;\"><strong>汽车销售结构变化</strong></p><ul style=\"list-style-type: disc;\"><li><p>二季度汽车销售收入占比95.50%，其中L系列保持规模，i8开启纯电曲线。本季度若i6加入并形成“中高端纯电双车”协同，结构性影响将体现在：纯电车型可能带来更高的选装渗透（智驾/座舱/补能权益），但短期会抬升营销与交付运营成本。</p></li><li><p>公司在电话会上明确减少SKU、回归单品爆款策略，有助于制造与供应链降复杂度、提高需求预测精度，进而改善库存周转与现金循环。三季度这个策略将处于早期验证阶段，对销量—利润的平衡与经销服务能力提出更高要求。</p></li><li><p>若区域市场竞争对手继续通过“以价换量”争夺份额，理想汽车需要在用户体验、智驾与补能等价值点上强化沟通，避免简单价格战带来的利润侵蚀；VLA体验与充电网络体验的真实口碑，可能成为最有效的非价格竞争筹码。</p></li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3c3d85d93b1f5b92b1a9d0ea43b2c159\" tg-width=\"1080\" tg-height=\"602\"/></p><h3 id=\"id_317831155\">分析师观点</h3><p><a href=\"https://laohu8.com/S/601108\" title=\"财通证券\" class=\"\">财通证券</a>发布研报称，<a href=\"https://laohu8.com/S/02015\" title=\"理想汽车-W\" class=\"\">理想汽车-W</a>)盈利能力稳健，智能化与组织升级驱动长期成长空间。该行预计公司2025–2027年实现Non-GAAP归母净利润47/80/124亿元，对应PE分别为32x/19x/12x。首次覆盖，给予“增持”评级。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2cd608dea059f96a8bee52aea078452e","relate_stocks":{"LI":"理想汽车","02015":"理想汽车-W"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133790875","content_text":"摘要： 理想汽车 将于11月26日美股盘前发布2025年第三季度财报。三季度理想汽车的交付量同比大幅下滑，营收必然受到影响，市场更加关注新车型的销售情况及AI方面的发展。二季度回顾理想汽车二季度营收302亿元，车辆销售收入为289亿元。二季度经营利润达到8.27亿元，净利润11亿元。二季度汽车总交付量为111,074辆，同比增长2.3%。三季度预期已知数据：三季度理想汽车的总交付量仅为93211辆，较2024年同期的15.28万辆大幅下降了39%。不及公司自己设置的业绩指引（同比下降37.8%-41.1%）。根据老虎国际APP的数据，分析师目前预期理想汽车三季度营收267.1亿元人民币，同比减少37.7%；每股收益0.863元，同比减少67.54%；息税前利润1562万。主要看点纯电产品爬坡与补能网络协同本季度的核心看点在于纯电产品（理想i8、i6）爬坡节奏与高压超充网络的协同放量。上一季度公司已在全国形成较大规模超充覆盖，强调“城市+高速”双网络布局，有利于缓解用户补能顾虑，提升纯电转化。若i8与i6在三季度进入稳定交付阶段，叠加5C补能体验与座舱/智驾差异化卖点，有望在竞争激烈的30万至40万元区间争取份额。影响传导路径在于：补能便利性降低用户里程焦虑，提升试驾转化与复购意愿；同时提升车主使用频次后带动生态与服务收入的潜在增长。短期毛利端可能承受新品推广与渠道营销投入的影响，但随着产能与供应链效率提升，单位成本有望逐季改善。风险在于：若价格竞争加剧或新品上险量爬坡低于预期，营收与毛利率存在阶段性压力；门店与营销策略的区域化执行效果将决定获客效率。VLA司机大模型与销售体系调整的落地本季度另一个关键变量是VLA司机大模型的推送覆盖和使用体验反馈。公司计划将VLA推广至更多AD Max车型，已在上一季度强调VLA在复杂城市道路、泊车与召唤等功能的体验升级，若三季度用户口碑持续发酵，将推动高配渗透率提高并带动单车收入结构改善。销售体系“总部直管23个区域+市场营销与销服运营”新架构已到位，强调“因地制宜”与“数字化运营”。在本季度，区域化策略的执行（北方增程心智巩固、南方纯电卖点强化）以及中心店与商场店的组合优化，将直接影响线索质量、转化效率与库存/价格策略的平衡。结合公司对三季度收入同比分别下降38.8%至42.1%的保守指引，管理层选择以产品与组织迭代换取中长期确定性，短期更关注质量增长与品牌价值稳固。若i6发布后的市场教育推进顺利，四季度后半段有望看到订单与交付的边际改善。汽车销售结构变化二季度汽车销售收入占比95.50%，其中L系列保持规模，i8开启纯电曲线。本季度若i6加入并形成“中高端纯电双车”协同，结构性影响将体现在：纯电车型可能带来更高的选装渗透（智驾/座舱/补能权益），但短期会抬升营销与交付运营成本。公司在电话会上明确减少SKU、回归单品爆款策略，有助于制造与供应链降复杂度、提高需求预测精度，进而改善库存周转与现金循环。三季度这个策略将处于早期验证阶段，对销量—利润的平衡与经销服务能力提出更高要求。若区域市场竞争对手继续通过“以价换量”争夺份额，理想汽车需要在用户体验、智驾与补能等价值点上强化沟通，避免简单价格战带来的利润侵蚀；VLA体验与充电网络体验的真实口碑，可能成为最有效的非价格竞争筹码。分析师观点财通证券发布研报称，理想汽车-W)盈利能力稳健，智能化与组织升级驱动长期成长空间。该行预计公司2025–2027年实现Non-GAAP归母净利润47/80/124亿元，对应PE分别为32x/19x/12x。首次覆盖，给予“增持”评级。","news_type":1,"symbols_score_info":{"LI":2,"02015":2}},"isVote":1,"tweetType":1,"viewCount":813,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606228303512984,"gmtCreate":1789028550180,"gmtModify":1789028791060,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/MPNGY\">$美团ADR(MPNGY)$&nbsp;</a> 这特妈的就是垃圾，真是不能做空，要是能做空这不就是送钱么","listText":"<a href=\"https://laohu8.com/S/MPNGY\">$美团ADR(MPNGY)$&nbsp;</a> 这特妈的就是垃圾，真是不能做空，要是能做空这不就是送钱么","text":"$美团ADR(MPNGY)$ 这特妈的就是垃圾，真是不能做空，要是能做空这不就是送钱么","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/606228303512984","isVote":1,"tweetType":1,"viewCount":325,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4199543189920392","authorId":"4199543189920392","name":"Sacred Rabbit","avatar":"https://static.tigerbbs.com/6e6e891e0a63d4e7abc00fbdcb296003","crmLevel":8,"crmLevelSwitch":1,"idStr":"4199543189920392","authorIdStr":"4199543189920392"},"content":"掌握权力的人 能让你做空吗？ 它们 怕钱被你赚了 它们怎么垄断这种来钱的路子","text":"掌握权力的人 能让你做空吗？ 它们 怕钱被你赚了 它们怎么垄断这种来钱的路子","html":"掌握权力的人 能让你做空吗？ 它们 怕钱被你赚了 它们怎么垄断这种来钱的路子"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":493792688255168,"gmtCreate":1761575621542,"gmtModify":1761577238400,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 人小鹏6 7个点，你卧槽了……","listText":"<a href=\"https://laohu8.com/S/LI\">$理想汽车(LI)$&nbsp;</a> 人小鹏6 7个点，你卧槽了……","text":"$理想汽车(LI)$ 人小鹏6 7个点，你卧槽了……","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":1,"link":"https://laohu8.com/post/493792688255168","isVote":1,"tweetType":1,"viewCount":3539,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":501559480124040,"gmtCreate":1763458460903,"gmtModify":1763458463071,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"明天敢不敢拉10个点让我逃命","listText":"明天敢不敢拉10个点让我逃命","text":"明天敢不敢拉10个点让我逃命","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/501559480124040","repostId":"1141820756","repostType":2,"repost":{"id":"1141820756","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1763458060,"share":"https://www.laohunote.com/m/news/1141820756?lang=zh_CN&edition=full","pubTime":"2025-11-18 17:27","market":"hk","language":"zh","title":"小米集团Q3营收同比增长22.3%，经调整净利润创历史新高","url":"https://stock-news.laohu8.com/highlight/detail?id=1141820756","media":"老虎资讯综合","summary":"11月18日，$小米集团-W$发布2025年第三季度业绩。财报显示，第三季度总收入为人民币1,131亿元，同比增长22.3%。业务分部来看，2025年第三季度，“手机×AIoT”分部收入为人民币841亿元，同比增长1.6%；“智能电动汽车及AI等创新业务”分部收入为人民币290亿元，创历史新高，同比增长199.2%。本季度，集团经调整净利润为人民币113亿元，创历史新高，同比增长80.9%。2025年9月，我们全球月活跃用户数3再创历史新高，达到741.7百万，同比增长8.2%。","content":"<html><head></head><body><p>11月18日，<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>发布2025年第三季度业绩。财报显示，第三季度总收入为人民币1,131亿元，同比增长22.3%；经调整净利润为人民币113亿元，创历史新高，同比增长80.9%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9d0df803489313da898a3c1448dfa0a\" title=\"\" tg-width=\"1106\" tg-height=\"468\"/></p><h2 id=\"id_2834380405\">分业务来看：</h2><ul style=\"\"><li><p>2025年第三季度，“手机×AIoT”分部收入为人民币841亿元，同比增长1.6%，连续9个季度实现同比增长。“手机×AIoT”分部毛利率为22.1%，同比增长1.3个百分点。</p></li><li><p>2025年第三季度，智能手机业务收入为人民币460亿元。全球智能手机出货量为43.3百万台，同比增长0.5%。</p></li><li><p>2025年第三季度，IoT与生活消费产品业务收入为人民币276亿元，同比增长5.6%，毛利率为23.9%，同比提升3.2个百分点。</p></li><li><p>2025年第三季度，互联网服务业务收入达到人民币94亿元，创历史新高，比增长10.8%。</p></li><li><p>2025年第三季度，智能电动汽车及AI等创新业务分部收入为人民币290亿元，创历史新高。其中，智能电动汽车收入为人民币283亿元，其他相关业务收入为人民币7亿元。2025年第三季度，智能电动汽车及AI等创新业务分部首次实现单季度经营盈利11，本季度经营收益为人民币7亿元。</p></li></ul></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>小米集团Q3营收同比增长22.3%，经调整净利润创历史新高</title>\n<style 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}\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n小米集团Q3营收同比增长22.3%，经调整净利润创历史新高\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2025-11-18 17:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>11月18日，<a href=\"https://laohu8.com/S/01810\">小米集团-W</a>发布2025年第三季度业绩。财报显示，第三季度总收入为人民币1,131亿元，同比增长22.3%；经调整净利润为人民币113亿元，创历史新高，同比增长80.9%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9d0df803489313da898a3c1448dfa0a\" title=\"\" tg-width=\"1106\" tg-height=\"468\"/></p><h2 id=\"id_2834380405\">分业务来看：</h2><ul style=\"\"><li><p>2025年第三季度，“手机×AIoT”分部收入为人民币841亿元，同比增长1.6%，连续9个季度实现同比增长。“手机×AIoT”分部毛利率为22.1%，同比增长1.3个百分点。</p></li><li><p>2025年第三季度，智能手机业务收入为人民币460亿元。全球智能手机出货量为43.3百万台，同比增长0.5%。</p></li><li><p>2025年第三季度，IoT与生活消费产品业务收入为人民币276亿元，同比增长5.6%，毛利率为23.9%，同比提升3.2个百分点。</p></li><li><p>2025年第三季度，互联网服务业务收入达到人民币94亿元，创历史新高，比增长10.8%。</p></li><li><p>2025年第三季度，智能电动汽车及AI等创新业务分部收入为人民币290亿元，创历史新高。其中，智能电动汽车收入为人民币283亿元，其他相关业务收入为人民币7亿元。2025年第三季度，智能电动汽车及AI等创新业务分部首次实现单季度经营盈利11，本季度经营收益为人民币7亿元。</p></li></ul></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/99b330c7a5fe2b62c4d008bd67f85ddd","relate_stocks":{"XIACY":"小米集团ADR","01810":"小米集团-W"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141820756","content_text":"11月18日，小米集团-W发布2025年第三季度业绩。财报显示，第三季度总收入为人民币1,131亿元，同比增长22.3%；经调整净利润为人民币113亿元，创历史新高，同比增长80.9%。分业务来看：2025年第三季度，“手机×AIoT”分部收入为人民币841亿元，同比增长1.6%，连续9个季度实现同比增长。“手机×AIoT”分部毛利率为22.1%，同比增长1.3个百分点。2025年第三季度，智能手机业务收入为人民币460亿元。全球智能手机出货量为43.3百万台，同比增长0.5%。2025年第三季度，IoT与生活消费产品业务收入为人民币276亿元，同比增长5.6%，毛利率为23.9%，同比提升3.2个百分点。2025年第三季度，互联网服务业务收入达到人民币94亿元，创历史新高，比增长10.8%。2025年第三季度，智能电动汽车及AI等创新业务分部收入为人民币290亿元，创历史新高。其中，智能电动汽车收入为人民币283亿元，其他相关业务收入为人民币7亿元。2025年第三季度，智能电动汽车及AI等创新业务分部首次实现单季度经营盈利11，本季度经营收益为人民币7亿元。","news_type":1,"symbols_score_info":{"01810":2,"XIACY":2}},"isVote":1,"tweetType":1,"viewCount":1988,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4203473475279660","authorId":"4203473475279660","name":"落单的秀儿","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":1,"idStr":"4203473475279660","authorIdStr":"4203473475279660"},"content":"56我就跑了，就说是韭菜股","text":"56我就跑了，就说是韭菜股","html":"56我就跑了，就说是韭菜股"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":533791472268688,"gmtCreate":1771341074309,"gmtModify":1771342532689,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"阿里美团京东明明可以都不亏损，并且盈利的，有那点钱你特么搞点什么不好，非要打外卖","listText":"阿里美团京东明明可以都不亏损，并且盈利的，有那点钱你特么搞点什么不好，非要打外卖","text":"阿里美团京东明明可以都不亏损，并且盈利的，有那点钱你特么搞点什么不好，非要打外卖","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/533791472268688","isVote":1,"tweetType":1,"viewCount":7446,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3559770134796747","authorId":"3559770134796747","name":"牛逼的泡泡","avatar":"https://static.tigerbbs.com/9bf6916652a79d7028c26078fd497da4","crmLevel":5,"crmLevelSwitch":1,"idStr":"3559770134796747","authorIdStr":"3559770134796747"},"content":"是美团自己喜欢去打京东的腹地，就和当年朝鲜喜欢擅自去打韩国一样，后面被胖揍了，才后悔莫及，怪谁呢[笑哭]","text":"是美团自己喜欢去打京东的腹地，就和当年朝鲜喜欢擅自去打韩国一样，后面被胖揍了，才后悔莫及，怪谁呢[笑哭]","html":"是美团自己喜欢去打京东的腹地，就和当年朝鲜喜欢擅自去打韩国一样，后面被胖揍了，才后悔莫及，怪谁呢[笑哭]"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":576398884681912,"gmtCreate":1781745935469,"gmtModify":1781747027623,"author":{"id":"3575509327606957","authorId":"3575509327606957","name":"熊虎扑","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575509327606957","authorIdStr":"3575509327606957"},"themes":[],"title":"","htmlText":"日韩每天创新高，你特么每天都是新低","listText":"日韩每天创新高，你特么每天都是新低","text":"日韩每天创新高，你特么每天都是新低","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/576398884681912","repostId":"1106235543","repostType":2,"repost":{"id":"1106235543","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1781745630,"share":"https://www.laohunote.com/m/news/1106235543?lang=zh_CN&edition=full","pubTime":"2026-06-18 09:20","market":"hk","language":"zh","title":"港股开盘 | 恒指低开0.69%，科指低开0.88%！存储概念股逆势上涨","url":"https://stock-news.laohu8.com/highlight/detail?id=1106235543","media":"老虎资讯综合","summary":"6月18日，恒生指数开盘下跌166.97点，跌幅0.69%，报24145.19点；恒生科技指数开盘下跌41.0点，跌幅0.88%，报4628.07点；国企指数开盘下跌71.31点，跌幅0.88%，报8072.72点；红筹指数开盘下跌22.5点，跌幅0.54%，报4149.33点。存储概念股普涨，南方两倍做多海力士涨超5%，南方两倍做多三星电子涨超2%，量化派涨近15%，拟推出智能硬件电商平台，纵深拓展物理AI多元场景；泡泡玛特跌超3%，德银给予“卖出”评级，预计下半年销售压力将进一步加剧。","content":"<html><head></head><body><p>6月18日，恒生指数开盘下跌166.97点，跌幅0.69%，报24145.19点；恒生科技指数开盘下跌41.0点，跌幅0.88%，报4628.07点；国企指数开盘下跌71.31点，跌幅0.88%，报8072.72点；红筹指数开盘下跌22.5点，跌幅0.54%，报4149.33点。</p><p>存储概念股普涨，<a href=\"https://laohu8.com/S/07709\">南方两倍做多海力士</a>涨超5%，<a href=\"https://laohu8.com/S/07747\">南方两倍做多三星电子</a>涨超2%，</p><p><a href=\"https://laohu8.com/S/02685\">量化派</a>涨近15%，拟推出智能硬件电商平台，纵深拓展物理AI多元场景；</p><p><a href=\"https://laohu8.com/S/09992\">泡泡玛特</a>跌超3%，德银给予“卖出”评级，预计下半年销售压力将进一步加剧。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta 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href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-06-18 09:20</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>6月18日，恒生指数开盘下跌166.97点，跌幅0.69%，报24145.19点；恒生科技指数开盘下跌41.0点，跌幅0.88%，报4628.07点；国企指数开盘下跌71.31点，跌幅0.88%，报8072.72点；红筹指数开盘下跌22.5点，跌幅0.54%，报4149.33点。</p><p>存储概念股普涨，<a href=\"https://laohu8.com/S/07709\">南方两倍做多海力士</a>涨超5%，<a href=\"https://laohu8.com/S/07747\">南方两倍做多三星电子</a>涨超2%，</p><p><a href=\"https://laohu8.com/S/02685\">量化派</a>涨近15%，拟推出智能硬件电商平台，纵深拓展物理AI多元场景；</p><p><a 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