特斯拉Q2业绩惨淡、创十年最大销售下滑，重申发新车和Cybercab量产计划，指引缺席！

华尔街见闻07-24

二季度特斯拉营收同比降12%、EPS降23%，均超预期下滑，“卖碳”收入环比连降四季；二季度汽车业务收入同比降16%、连续两季两位数下滑，储能业务毛利创单季新高，超级充电网推动服务及其他收入增长17%；特斯拉重申按计划今年推出新车、Robotaxi产品Cybercab明年量产，称计划更平价车今年上半年试产、下半年量产、Semi卡车明年量产；二季度是向AI和机器人服务领头羊转型的里程碑，准备在中国...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

嘞撸虎7
07-24
嘞撸虎7
閱

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1135224121?lang=en_US&edition=fundamental","thumbnail":"https://static.tigerbbs.com/968c7f56416ea450ba452ed25e324d2e","is_english":false,"pubTime":"2025-07-24 04:44","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1135224121","market":"us","top_or_hot":-1,"title":"特斯拉Q2业绩惨淡、创十年最大销售下滑，重申发新车和Cybercab量产计划，指引缺席！","media":"华尔街见闻","content":"<div>\n二季度特斯拉营收同比降12%、EPS降23%，均超预期下滑，“卖碳”收入环比连降四季；二季度汽车业务收入同比降16%、连续两季两位数下滑，储能业务毛利创单季新高，超级充电网推动服务及其他收入增长17%；特斯拉重申按计划今年推出新车、Robotaxi产品Cybercab明年量产，称计划更平价车今年上半年试产、下半年量产、Semi卡车明年量产；二季度是向AI和机器人服务领头羊转型的里程碑，准备在中国...\n\n<a href=\"https://wallstreetcn.com/articles/3751756\">Source Link</a>\n\n</div>\n","source":"lsy1700700604709","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>特斯拉Q2业绩惨淡、创十年最大销售下滑，重申发新车和Cybercab量产计划，指引缺席！</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特斯拉Q2业绩惨淡、创十年最大销售下滑，重申发新车和Cybercab量产计划，指引缺席！\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-07-24 04:44 北京时间&nbsp;&nbsp;&nbsp;<a href=https://wallstreetcn.com/articles/3751756>华尔街见闻</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n二季度特斯拉营收同比降12%、EPS降23%，均超预期下滑，“卖碳”收入环比连降四季；二季度汽车业务收入同比降16%、连续两季两位数下滑，储能业务毛利创单季新高，超级充电网推动服务及其他收入增长17%；特斯拉重申按计划今年推出新车、Robotaxi产品Cybercab明年量产，称计划更平价车今年上半年试产、下半年量产、Semi卡车明年量产；二季度是向AI和机器人服务领头羊转型的里程碑，准备在中国...\n\n<a href=\"https://wallstreetcn.com/articles/3751756\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1852331112.SGD","symbol_name":"Blackrock World Technology Fund A2 SGD-H","start_time":0,"source_url":"https://wallstreetcn.com/articles/3751756","article_id":"1135224121","we_media_id":null,"thumbnails":["https://static.tigerbbs.com/968c7f56416ea450ba452ed25e324d2e"],"rights":{"source":"lsy1700700604709","url":"https://wallstreetcn.com/articles/3751756","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1135224121","pubTimestamp":1753303464,"columns":[],"sourceInfo":{"source_id":"lsy1700700604709","name":"华尔街见闻"},"weMediaInfo":null,"summary":"特斯拉2025年Q2营收224.96亿美元，同比减少12%，低于市场预期226.38亿美元。二季度毛利润率17.2%，分析师预期16.5%。二季度运营利润9.23亿美元，分析师预期12.3亿美元。二季度EPS为0.33美元，上年同期0.42美元。二季度调整后EPS为0.40美元，分析师预期0.42美元。二季度自由现金流（FCF）为1.46亿美元，分析师预期7.60亿美元，一季度为6.64亿美元。特斯拉将于2025年推出的新车计划仍在按计划进行，其中包括于2025年上半年开始生产一款更实惠的车型。计划2026年量产Cybercab。财报发布后，特斯拉盘后先涨后跌。","collect":0,"end_time":0,"defaultTopTitle":"wallstreetcn.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4612":"AI芯片","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","BK4550":"红杉资本持仓","TSLA":"特斯拉","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4527":"明星科技股","BK4099":"汽车制造商","BK4585":"ETF&股票定投概念","BK4555":"新能源车","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC"},"translate_title":"Tesla's Q2 performance was bleak, the largest sales decline in ten years, reiterated its plan to launch new cars and Cybercab mass production, and the guidance was absent!","themeId":"6b21df534720d4af5cf1fe913b70ee7e","isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/2d612e482fa65ddf75c2925c1f104277","symbols_score_info":{"TSLA":1},"content_text":"二季度特斯拉营收同比降12%、EPS降23%，均超预期下滑，“卖碳”收入环比连降四季；二季度汽车业务收入同比降16%、连续两季两位数下滑，储能业务毛利创单季新高，超级充电网推动服务及其他收入增长17%；特斯拉重申按计划今年推出新车、Robotaxi产品Cybercab明年量产，称计划更平价车今年上半年试产、下半年量产、Semi卡车明年量产；二季度是向AI和机器人服务领头羊转型的里程碑，准备在中国更大范围推出FSD、待监管批准；关税和财政政策及政治情绪的影响尚不明，但继续研发和资本支出的投入。电话会预计关税成本约3亿美元，马斯克警告未来几个季度恐怕形势严峻。特斯拉盘后先涨后跌，股价跌超4%。刚刚过去的第二季度，特斯拉从销售收入到利润全线 超预期下降，最大业务汽车的收入继续两位数下滑，相比汽车更受关税冲击的能源业务收入由增转降。特斯拉重申了包括低价车在内的今年发布新车计划，依然预计，无人驾驶出租车Robotaxi的专属产品Cybercab将于明年开始量产，还提到Semi卡车也计划明年量产，但财报中并未披露公布一季报时预告的业绩指引。财报公布后，周三收涨逾0.1%的特斯拉股价盘后先加速上涨，涨幅曾接近2%，后回落转跌。特斯拉高管在业绩电话会上提到，特朗普政府撤销电动车税收抵免的减税和支出法案以及关税政策将伤害电动车的需求，预计关税给公司带来的成本约为3亿美元，称将在购车税收抵免政策到期失效之前加大销售力度，推迟新品发布。特斯拉CEO马斯克还在电话会上警告，特斯拉处于一个“不寻常的转型期”。 公司在美国丧失电动汽车销售的激励政策，恐怕会面临“好几个形势严峻的季度”。特斯拉股价盘后跌幅扩大，马斯克讲话期间，跌幅超过4%。美东时间7月23日周三美股盘后，特斯拉公布2025年第二季度财务业绩。1）主要财务数据营收：二季度特斯拉营业收入225.0亿美元，同比下降12%，分析师预期226.4亿美元，一季度同比下降9%。EPS：二季度非GAAP口径下调整后每股收益（EPS）为0.40美元，同比下降23%，分析师预期0.42美元，一季度同比下降40%。营业利润：二季度营业利润9.23亿美元，同比下降42%，分析师预期12.3亿美元，一季度同比下降66%。净利润：二季度调整后净利润13.93亿美元，同比下降23%，一季度同比下降39%。利润率：二季度营业利润率为4.1%，一季度为2.1%，一年前为6.3%；二季度毛利率为17.2%，较一年前同比下降71个基点，一季度为16.3%，分析师预期16.5%。资本支出：二季度资本支出23.94亿美元，同比增长5%，分析师预期24.3亿美元，一季度同比下降46%。自由现金流：二季度自由现金流1.46亿美元，同比下降89%，分析师预期7.6亿美元，一季度同比增长126%。2）细分业务数据汽车：二季度汽车营收166.61亿美元，同比下降16%，一季度同比下降20%。剔除监管信贷积分的汽车业务毛利率为15%，一季度为12.5%。储能：二季度能源生产和存储收入为27.89亿美元，同比下降7%，一季度同比增长67%。二季度营收和盈利均超预期下降 “卖碳”收入连降四季财报显示，二季度特斯拉的营收加速下滑，同比降幅从一季度的9%加快至12%，创2012年来最大单季营收降幅，而且略超过分析师预计的降幅11%。二季度特斯拉的利润下滑幅度相比一季度放缓，降幅依旧超过分析师预期。二季度EPS盈利同比下降23%，降幅几乎为一季度降幅的一半，而分析师预期下降19.2%。不过，二季度的毛利率同比降幅没有预期大，同比下降71个基点至17.2%，环比一季度还提高了9个百分点，分析师预期同比降至16.5%。 二季度特斯拉的自由现金流同比剧减89%至1.46亿美元，虽然保持正值，但这要部分归功于3.2亿美元的“其他收入”。此外，由于数字资产、即比特币的持有收益增加2.84亿美元，特斯拉二季度的息税折旧摊销前利润（EBITDA）也增长了2.84亿美元，占34亿美元EBITDA总额的8%以上。特斯拉略微为正的自由现金流还要归因于公司的资本支出增速仍低于达到100亿美元全年支出目标的水平。要实现这一目标，意味着未来两个季度的资本支出将分别超过30亿美元。特斯拉一季度和二季度的资本支出分别接近15亿美元和24亿美元。和前几个季度一样，特斯拉来自监管信贷积分的“卖碳”收入进一步下降，打击了营收和利润。二季度“卖碳”收入4.39亿美元至一年来低位，环比下降26.2%，连续四个季度下降，较一年前砍半、同比下降50.7%。二季度汽车业务收入下降16% 储能业务毛利创新高 超级充电网推动服务等收入增长17%主要业务中，特斯拉汽车业务收入连续两个季度同比两位数下滑，二季度降幅16%，较一季度的20%略为放缓。特斯拉汽车业务的低迷已在外界意料之中。本月初特斯拉公布的二季度交付量同比下降约13.5%至38.4万辆，虽然强于市场的悲观预期35万辆，但已经创公司史上最大单季交付量降幅。相比一年前，二季度特斯拉的储能业务收入增长进一步放缓，收入同比下降7%，一季度还大增67%，但相比一季度，二季度的业务收入还环比增长了2.2%。特斯拉称，过去十二个月 (TTM)基础计算的储能业务部署装机量再次增长，连续12个季度创纪录。其中，Powerwall产品的部署装机连续第五个季度创单季最高纪录。储能业务的毛利二季度环比和同比均增长，达到创单季新高的8.46亿美元。二季度业务的一个亮点是“服务及其他收入”同比增长17%至30.5亿美元，该业务的毛利环比增长64%。特斯拉将此部分归功于，旗下超级充电网络带来的收入增长。该司提到，超级充电桩净增超过2900个，同比增长18%。按计划今年推出新车 更平价车上半年试产 计划Cybercab和Semi明年量产财报的产品展望中，特斯拉没有完全照搬一季度财报的说辞，但重申，仍在按计划今年内推出新车，包括更平价车型。报告写道：“我们仍将专注于在建设新生产线之前，通过利用现有产能，以高效资本支出的方式审慎地增加汽车产量。2025年推出新车的计划仍在按计划进行，包括一款价格更亲民的车型将于2025年上半年试生产。”和四季报以及一季报一样，本次报告也预计，特斯拉专为Robotaxi打造的产品——Cybercab“计划于2026年开始量产”。在财报的概述中，特斯拉更明确提到平价车的问世计划和Semi卡车的量产计划，称：“我们持续拓展汽车产品线，包括6月推出的首款经济型车型，并计划于2025年下半年实现量产。此外，我们还持续开发Semi和Cybercab，均计划于2026 年实现量产。”二季度是向AI和机器人服务领头羊转型的里程碑 准备在华更大范围推出FSD特斯拉在评论二季度业绩时表示：“2025年第二季度是特斯拉历史上的一个里程碑：我们从电动汽车和可再生能源行业的领头羊转型为人工智能（AI）、机器人及相关服务领域的领导者。”特斯拉提到上月启动的首批Robotaxi汽车服务，该服务仅适用于在得州奥斯汀市内的十几辆Model Y车。特斯拉承认，Robotaxi“服务初期范围有限”，但表示，“我们的自动驾驶方案——采用纯摄像头架构，并利用来自我们全球数百万辆汽车的数据对神经网络进行训练”能够持续提升安全性，快速扩展服务网络规模，并提高盈利能力。特斯拉CEO马斯克两周前表示，特斯拉正在扩大奥斯汀地区的Robotaxi服务范围，并正等待监管部门批准在加州湾区推出此服务，可能一两个月内推出。当时媒体获悉特斯拉还计划将Robotaxi服务扩展到亚利桑那州。加州监管机构本月向媒体透露，特斯拉尚未申请测试或部署无人驾驶车辆的必要许可。本周三有媒体称，特斯拉正与内华达州官员进行初步洽谈，计划在该州推出Robotaxi服务。在AI和软件方面，特斯拉本次财报提到，将进一步改进和扩展Robotaxi服务，让服务覆盖更多车辆和更广的区域，最终实现无安全驾驶员，同时在美国其他城市进行测试。特斯拉披露，在得州超级工厂新增部署1.6万块英伟达H200 GPU，扩展了AI训练计算能力，使得州的超级计算集群Cortex所配备H100 GPU总数达到6.7万块。特斯拉还提到，将继续筹备今年在中国更广泛地推出全自动驾驶辅助软件的监控版FSD (Supervised)，目前正等待监管部门的批准。关税和财政政策及政治情绪影响尚不明 但继续研发和资本支出投入 本次特斯拉财报重申了一季度财报中提到的特朗普政府发动关税战影响，照搬了一季报中的说辞： “很难衡量全球贸易政策变化对汽车和能源供应链、我们的成本结构以及耐用品及相关服务需求的影响。我们正在进行审慎的投资，为汽车和能源业务的增长做好准备，但今年的增长率将取决于多种因素，包括我们自动驾驶业务的加快速度、工厂的产量提升以及更广泛的宏观经济环境。”此外，本次财报新增指出：“尽管关税变动、财政政策变化和政治情绪的影响尚不明朗，导致宏观经济环境持续不确定，我们仍在继续对资本支出和研发进行高价值投资，同时确保强劲的资产负债表。”1）主要财务数据营收：二季度特斯拉营业收入225.0亿美元，同比下降12%，分析师预期226.4亿美元，一季度同比下降9%。EPS：二季度非GAAP口径下调整后每股收益（EPS）为0.40美元，同比下降23%，分析师预期0.44美元，一季度同比下降40%。营业利润：二季度营业利润9.23亿美元，同比下降42%，分析师预期12.3亿美元，一季度同比下降66%。净利润：二季度调整后净利润13.93亿美元，同比下降23%，一季度同比下降39%。利润率：二季度营业利润率为4.1%，一季度为2.1%，一年前为6.3%；二季度毛利率为17.2%，较一年前同比下降71个基点，一季度为16.3%，分析师预期16.5%。资本支出：二季度资本支出23.94亿美元，同比增长5%，分析师预期24.3亿美元，一季度同比下降46%。自由现金流：二季度自由现金流1.46亿美元，同比下降89%，分析师预期7.6亿美元，一季度同比增长126%。2）细分业务数据汽车：二季度汽车营收166.61亿美元，同比下降16%，一季度同比下降20%。剔除监管信贷积分的汽车业务毛利率为15%，一季度为12.5%。储能：二季度能源生产和存储收入为27.89亿美元，同比下降7%，一季度同比增长67%。财报显示，二季度特斯拉的营收加速下滑，同比降幅从一季度的9%加快至12%，创2012年来最大单季营收降幅，而且超过了分析师预计的降幅11%。按计划今年推出新车 更平价车上半年试产 重申计划Cybercab明年量产财报的产品展望中，虽然没有完全照搬了一季度财报报告的说辞，但特斯拉重申，仍在按计划今年内推出新车，包括更平价车型。报告写道：“我们仍将专注于在建设新生产线之前，通过利用现有产能，以高效资本支出的方式审慎地增加汽车产量。2025年推出新车的计划仍在按计划进行，包括一款价格更亲民的车型将于2025年上半年试生产。”和四季报以及一季报一样，本次报告也预计，特斯拉专为打造的Robotaxi产品——Cybercab“计划于2026年开始量产”。财报发布后，特斯拉股价盘后先涨后跌。","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":459905851888224,"gmtCreate":1753305355590,"gmtModify":1753305360057,"author":{"id":"4092032122452460","authorId":"4092032122452460","name":"嘞撸虎7","avatar":"https://static.tigerbbs.com/451ff62190f624c13c07b54476dd5930","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":11,"crmLevelSwitch":1,"idStr":"4092032122452460","authorIdStr":"4092032122452460"},"htmlText":"閱","listText":"閱","text":"閱","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/459905851888224","repostId":1135224121,"repostType":4,"repost":{"id":"1135224121","kind":"news","pubTimestamp":1753303464,"share":"https://ttm.financial/m/news/1135224121?lang=en_US&edition=fundamental","pubTime":"2025-07-24 04:44","market":"us","language":"zh","title":"Tesla's Q2 performance was bleak, the largest sales decline in ten years, reiterated its plan to launch new cars and Cybercab mass production, and the guidance was absent!","url":"https://stock-news.laohu8.com/highlight/detail?id=1135224121","media":"华尔街见闻","summary":"特斯拉2025年Q2营收224.96亿美元，同比减少12%，低于市场预期226.38亿美元。二季度毛利润率17.2%，分析师预期16.5%。二季度运营利润9.23亿美元，分析师预期12.3亿美元。二季度EPS为0.33美元，上年同期0.42美元。二季度调整后EPS为0.40美元，分析师预期0.42美元。二季度自由现金流（FCF）为1.46亿美元，分析师预期7.60亿美元，一季度为6.64亿美元。特斯拉将于2025年推出的新车计划仍在按计划进行，其中包括于2025年上半年开始生产一款更实惠的车型。计划2026年量产Cybercab。财报发布后，特斯拉盘后先涨后跌。","content":"<html><head></head><body>In the second quarter, Tesla's revenue fell by 12% year-on-year, and EPS fell by 23%, both exceeding expectations. The revenue from \"selling carbon\" fell for four consecutive seasons month-on-month; In the second quarter, the revenue of the automotive business fell by 16% year-on-year, with a double-digit decline for two consecutive quarters. The gross profit of the energy storage business hit a single-quarter high, and the super charging network promoted a 17% increase in service and other revenue; Tesla reiterated that it plans to launch a new car this year, and the Robotaxi product Cybercab will be mass-produced next year, saying that it plans to trial production of more affordable cars in the first half of this year, mass production in the second half of this year, and mass production of Semi trucks next year; The second quarter is a milestone in the transformation to a leader in AI and robotics services, preparing to launch FSD on a larger scale in China, pending regulatory approval; The impact of tariff and fiscal policies and political sentiment is still unclear, but investment in R&D and capital expenditure continues. The call expected tariff costs to be about $300 million, and Musk warned that the situation may be grim in the next few quarters. Tesla rose first and then fell after the market closed, and its stock price fell more than 4%.In the past second quarter, Tesla's sales revenue and profits fell more than expected across the board. The revenue of its largest business, automobiles, continued to decline in double digits. The revenue of its energy business, which was more affected by tariffs than automobiles, turned from an increase to a decrease.Tesla reiterated its plan to release new cars this year, including low-priced cars. It still expects that Cybercab, the exclusive product of the driverless taxi Robotaxi, will start mass production next year. It also mentioned that Semi trucks are also planned to be mass-produced next year, but the financial report did not disclose the performance guidance forecasted when the first quarter report was released.After the financial report was announced, Tesla's stock price, which closed up more than 0.1% on Wednesday, first accelerated its rise after the market closed. The increase was close to 2%, and then fell back and turned down.Tesla executives mentioned in the performance conference call that the Trump administration's tax reduction and spending bill and tariff policy to withdraw the tax credit for electric vehicles will hurt the demand for electric vehicles. It is estimated that the cost of tariffs to the company is about 300 million US dollars, saying that it will increase sales efforts and delay the release of new products before the car purchase tax credit policy expires.Tesla CEO Musk also warned in the conference call that Tesla is in an \"unusual transition period.\" The company may face \"several grim quarters\" if it loses incentives for electric vehicle sales in the United States.Tesla's stock price expanded its after-hours decline. During Musk's speech, it fell by more than 4%.<img src=\"https://static.tigerbbs.com/fd23d460fb60c700416a152c8eab5c97\" tg-width=\"912\" tg-height=\"451\"/>After the U.S. stock market closed on Wednesday, July 23, Eastern Time, Tesla announced its financial results for the second quarter of 2025.<img src=\"https://static.tigerbbs.com/532aece43af6a8f51ca5e0f9d96caa87\" alt=\"\"/>1) Key financial dataRevenue: Tesla's operating income in the second quarter was US $22.50 billion, a year-on-year decrease of 12%. Analysts expected US $22.64 billion, a year-on-year decrease of 9% in the first quarter.EPS: Adjusted earnings per share (EPS) on a non-GAAP basis in the second quarter was US $0.40, a year-on-year decrease of 23%. Analysts expected US $0.42, a year-on-year decrease of 40% in the first quarter.Operating profit: Operating profit in the second quarter was US $923 million, a year-on-year decrease of 42%. Analysts expected US $1.23 billion, a year-on-year decrease of 66% in the first quarter.Net profit: Adjusted net profit in the second quarter was US $1.393 billion, a year-on-year decrease of 23%, and a year-on-year decrease of 39% in the first quarter.Profit margin: Operating profit margin was 4.1% in the second quarter, 2.1% in the first quarter, and 6.3% a year ago; The gross profit margin in the second quarter was 17.2%, a year-on-year decrease of 71 basis points from a year ago. In the first quarter, it was 16.3%, and analysts expected 16.5%.Capital expenditures: Capital expenditures in the second quarter were US $2.394 billion, a year-on-year increase of 5%. Analysts expected US $2.43 billion, a year-on-year decrease of 46% in the first quarter.Free cash flow: Free cash flow in the second quarter was US $146 million, a year-on-year decrease of 89%. Analysts expected US $760 million, a year-on-year increase of 126% in the first quarter.2) Segmented business dataautomobile: Automobile revenue in the second quarter was US $16.661 billion, a year-on-year decrease of 16%, and a year-on-year decrease of 20% in the first quarter. The gross profit margin of the automotive business excluding regulatory credit points was 15%, compared with 12.5% in the first quarter.Energy storage: Energy production and storage revenue in the second quarter was US $2.789 billion, a year-on-year decrease of 7%, and a year-on-year increase of 67% in the first quarter.<img src=\"https://static.tigerbbs.com/f4278261782b75c9722edee3b3968928\" tg-width=\"2560\" tg-height=\"1439\"/><h2 id=\"id_3261812694\" style=\"text-align: start;\">In the second quarter, both revenue and profit fell more than expected. \"Carbon selling\" revenue fell for four consecutive seasons</h2>The financial report shows that Tesla's revenue accelerated its decline in the second quarter, with a year-on-year decline accelerating from 9% in the first quarter to 12%, the largest single-quarter revenue decline since 2012, and slightly exceeding the 11% decline expected by analysts.Tesla's profit decline in the second quarter slowed down compared with the first quarter, and the decline still exceeded analysts' expectations. EPS earnings in the second quarter fell 23% year-on-year, almost half of the decline in the first quarter, while analysts expected a 19.2% decline.However, the year-on-year decline in gross profit margin in the second quarter was not as large as expected, falling 71 basis points year-on-year to 17.2%, an increase of 9 percentage points from the first quarter. Analysts expected a year-on-year decline to 16.5%.<img src=\"https://static.tigerbbs.com/e1f68169330692d07b6b76056d318347\" tg-width=\"1131\" tg-height=\"569\"/>In the second quarter, Tesla's free cash flow plummeted 89% year-on-year to US $146 million. Although it remained positive, this was partly due to \"other income\" of US $320 million. In addition, Tesla's earnings before interest, taxes, depreciation and amortization (EBITDA) in the second quarter also increased by US $284 million, accounting for 8% of the total EBITDA of US $3.4 billion, due to an increase of US $284 million in digital assets, namely Bitcoin holdings. above.Tesla's slightly positive free cash flow is also attributed to the fact that the company's capital expenditure growth is still below the level of reaching its full-year spending target of $10 billion. Achieving this goal means more than $3 billion in capital expenditures in each of the next two quarters. Tesla's capital expenditures in the first and second quarters were close to $1.5 billion and $2.4 billion, respectively.As in previous quarters, Tesla's \"carbon selling\" revenue from regulatory credit points fell further, hitting revenue and profits. In the second quarter, \"carbon sales\" revenue reached a one-year low of US $439 million, down 26.2% month-on-month, declining for four consecutive quarters, halving from a year ago, and down 50.7% year-on-year.<img src=\"https://static.tigerbbs.com/d4f8612811510b6f0d78f3baa6120c6f\" tg-width=\"808\" tg-height=\"585\"/><h2 id=\"id_4135326204\" style=\"text-align: start;\">In the second quarter, automotive business revenue fell by 16%, and energy storage business gross profit hit a new high. Super charging network drives services and other revenue to increase by 17%.</h2>Among the main businesses, Tesla's automotive business revenue has declined by double digits year-on-year for two consecutive quarters, with a decline of 16% in the second quarter, a slight slowdown from 20% in the first quarter.The downturn in Tesla's car business has been expected by the outside world. At the beginning of this month, Tesla announced that its second-quarter delivery volume fell by about 13.5% year-on-year to 384,000 vehicles. Although it was stronger than the market's pessimistic expectation of 350,000 vehicles, it was the largest single-quarter delivery decline in the company's history.Compared with a year ago, Tesla's energy storage business revenue growth slowed down further in the second quarter. Revenue fell by 7% year-on-year and increased by 67% in the first quarter. However, compared with the first quarter, the business revenue in the second quarter also increased month-on-month. 2.2%.Tesla said that in the past twelve months (TTM), the deployed installed capacity of the energy storage business based on basic calculations has increased again, setting records for 12 consecutive quarters. Among them, the deployment and installed capacity of Powerwall products hit a single-quarter record for the fifth consecutive quarter. The gross profit of the energy storage business increased both quarter-on-quarter and year-on-year in the second quarter, reaching a single-quarter high of US $846 million.A highlight of the business in the second quarter was that \"service and other revenue\" increased by 17% year-on-year to US $3.05 billion, and the gross profit of this business increased by 64% quarter-on-quarter. Tesla attributes this in part to the revenue growth brought by its Supercharger network. The company mentioned that the net increase of super charging piles exceeded 2,900, a year-on-year increase of 18%.<h2 id=\"id_3859801507\" style=\"text-align: start;\">It is planned to launch new cars this year and more affordable cars. Trial production plans for the first half of the year. Cybercab and Semi will be mass-produced next year</h2>In the product outlook of the financial report, Tesla did not completely copy the rhetoric of the first quarter financial report, but reiterated that it is still launching new cars within this year as planned, including more affordable models. The report reads:\"We will remain focused on prudently increasing vehicle production in an efficient capital expenditure manner by leveraging existing capacity before building new production lines. Plans to launch new vehicles in 2025 are still on track, including a more affordable model. Trial production will begin in the first half of 2025.\"Like the fourth quarterly report and the first quarterly report, this report also predicts that Tesla's product specially built for Robotaxi-Cybercab \"plans to start mass production in 2026.\"In the overview of the financial report, Tesla more clearly mentioned the plan for the launch of affordable cars and the mass production plan of Semi trucks, saying:\"We continue to expand our automotive product line, including the first economical model launched in June, and plan to achieve mass production in the second half of 2025. In addition, we continue to develop Semi and Cybercab, both of which are planned to achieve mass production in 2026.\"<h2 id=\"id_1596596894\" style=\"text-align: start;\">The second quarter is a milestone in the transformation to a leader in AI and robotics services, preparing to launch FSD on a larger scale in China</h2>Commenting on its second-quarter results, Tesla said: \"The second quarter of 2025 is a milestone in Tesla's history: we transitioned from being a leader in the electric vehicle and renewable energy industry to a leader in artificial intelligence (AI), robotics and related services.\"Tesla mentioned the first batch of Robotaxi car service launched last month, which is only available to a dozen Model Y cars in Austin, Texas. Tesla acknowledged that Robotaxi's \"initial scope of service is limited,\" but said that \"our self-driving solution-using a pure camera architecture and using data from millions of our cars around the world to train neural networks\" can continue to improve security, rapidly expand the scale of service networks, and improve profitability.Tesla CEO Musk said two weeks ago that Tesla is expanding its Robotaxi service in the Austin area and is waiting for regulatory approval to launch the service in the California Bay Area, possibly within a month or two. At that time, the media learned that Tesla also planned to expand Robotaxi services to Arizona. California regulators told the media this month that Tesla has not applied for the necessary permits to test or deploy driverless vehicles.On Wednesday, media said that Tesla is in preliminary negotiations with Nevada officials and plans to launch Robotaxi service in the state.In terms of AI and software, Tesla's financial report mentioned that it will further improve and expand the Robotaxi service, so that the service can cover more vehicles and a wider area, and ultimately achieve no safe drivers, while testing in other cities in the United States.Tesla disclosed that it deployed 16,000 new Nvidia H200 GPUs at the Texas Gigafactory, expanding AI training computing capabilities, bringing the total number of H100 GPUs equipped in the state's supercomputing cluster Cortex to 67,000.Tesla also mentioned that it will continue to prepare for the wider launch of FSD (Supervised), a monitored version of fully autonomous driving assistance software, in China this year, and is currently awaiting regulatory approval.<h2 id=\"id_5033842\" style=\"text-align: start;\">The impact of tariffs and fiscal policies and political sentiment is unclear, but R&D and capital expenditure continues</h2>This Tesla financial report reiterated the impact of the Trump administration's tariff war mentioned in the first quarter financial report, and copied the rhetoric in the first quarter report:\"It is difficult to measure the impact of changes in global trade policy on the automotive and energy supply chain, our cost structure, and demand for durable goods and related services. We are making prudent investments to prepare for growth in our automotive and energy businesses, but this year's growth rate will depend on a variety of factors, including the acceleration of our autonomous driving business, ramp-up production at our factories, and the broader macroeconomic environment.\"In addition, this financial report newly states:\"We are continuing to make high-value investments in capital expenditures and research and development while ensuring a strong balance sheet, despite the continued uncertainty in the macroeconomic environment resulting from unclear impacts of tariff changes, fiscal policy changes and political sentiment.\"<img src=\"https://static.tigerbbs.com/532aece43af6a8f51ca5e0f9d96caa87\" title=\"\" tg-width=\"1080\" tg-height=\"1080\"/>1) Key financial dataRevenue: Tesla's operating income in the second quarter was US $22.50 billion, a year-on-year decrease of 12%. Analysts expected US $22.64 billion, a year-on-year decrease of 9% in the first quarter.EPS: Adjusted earnings per share (EPS) on a non-GAAP basis in the second quarter was US $0.40, a year-on-year decrease of 23%. Analysts expected US $0.44, a year-on-year decrease of 40% in the first quarter.Operating profit: Operating profit in the second quarter was US $923 million, a year-on-year decrease of 42%. Analysts expected US $1.23 billion, a year-on-year decrease of 66% in the first quarter.Net profit: The adjusted net profit in the second quarter was US $1.393 billion, a year-on-year decrease of 23%, and a year-on-year decrease of 39% in the first quarter.Profit margin: Operating profit margin was 4.1% in the second quarter, 2.1% in the first quarter, and 6.3% a year ago; The gross profit margin in the second quarter was 17.2%, a year-on-year decrease of 71 basis points from a year ago. In the first quarter, it was 16.3%, and analysts expected 16.5%.Capital expenditures: Capital expenditures in the second quarter were US $2.394 billion, a year-on-year increase of 5%. Analysts expected US $2.43 billion, a year-on-year decrease of 46% in the first quarter.Free cash flow: Free cash flow in the second quarter was US $146 million, a year-on-year decrease of 89%. Analysts expected US $760 million, a year-on-year increase of 126% in the first quarter.2) Segmented business dataAutomobile: Automobile revenue in the second quarter was US $16.661 billion, a year-on-year decrease of 16%, and a year-on-year decrease of 20% in the first quarter. The gross profit margin of the automotive business excluding regulatory credit points was 15%, compared with 12.5% in the first quarter.Energy storage: Energy production and storage revenue in the second quarter was US $2.789 billion, a year-on-year decrease of 7%, and a year-on-year increase of 67% in the first quarter.The financial report shows that Tesla's revenue accelerated its decline in the second quarter, with a year-on-year decline accelerating from 9% in the first quarter to 12%, the largest single-quarter revenue decline since 2012, and exceeding analysts' expectations for an 11% decline.<h2 id=\"id_1480199560\" style=\"text-align: start;\">As planned, new cars will be launched this year and more affordable cars will be trial-produced in the first half of the year, reiterating plans for mass production of Cybercab next year</h2>In the product outlook of the financial report, although the rhetoric of the first quarter financial report was not completely copied, Tesla reiterated that it is still launching new cars within this year as planned, including more affordable models. The report reads:\"We will remain focused on prudently increasing vehicle production in an efficient capital expenditure manner by leveraging existing capacity before building new production lines. Plans to launch new vehicles in 2025 are still on track, including a more affordable model. Trial production will begin in the first half of 2025.\"Like the fourth quarterly report and the first quarterly report, this report also predicts that Cybercab, a Robotaxi product specially built by Tesla, \"plans to start mass production in 2026.\"After the financial report was released, Tesla's stock price first rose and then fell after the market closed.<img src=\"https://static.tigerbbs.com/a12ffa15dc97bc3503996fcee7b365ea\" title=\"\" tg-width=\"908\" tg-height=\"457\"/></body></html>","source":"lsy1700700604709","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>Tesla's Q2 performance was bleak, the largest sales decline in ten years, reiterated its plan to launch new cars and Cybercab mass production, and the guidance was absent!</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: 12.5px; color: #7E829C; margin: 0;}\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\">\nTesla's Q2 performance was bleak, the largest sales decline in ten years, reiterated its plan to launch new cars and Cybercab mass production, and the guidance was absent!\n</h2>\n<h4 class=\"meta\">\n\n华尔街见闻2025-07-24 04:44\n\n</h4>\n</header>\n<article>\n<html><head></head><body>In the second quarter, Tesla's revenue fell by 12% year-on-year, and EPS fell by 23%, both exceeding expectations. The revenue from \"selling carbon\" fell for four consecutive seasons month-on-month; In the second quarter, the revenue of the automotive business fell by 16% year-on-year, with a double-digit decline for two consecutive quarters. The gross profit of the energy storage business hit a single-quarter high, and the super charging network promoted a 17% increase in service and other revenue; Tesla reiterated that it plans to launch a new car this year, and the Robotaxi product Cybercab will be mass-produced next year, saying that it plans to trial production of more affordable cars in the first half of this year, mass production in the second half of this year, and mass production of Semi trucks next year; The second quarter is a milestone in the transformation to a leader in AI and robotics services, preparing to launch FSD on a larger scale in China, pending regulatory approval; The impact of tariff and fiscal policies and political sentiment is still unclear, but investment in R&D and capital expenditure continues. The call expected tariff costs to be about $300 million, and Musk warned that the situation may be grim in the next few quarters. Tesla rose first and then fell after the market closed, and its stock price fell more than 4%.In the past second quarter, Tesla's sales revenue and profits fell more than expected across the board. The revenue of its largest business, automobiles, continued to decline in double digits. The revenue of its energy business, which was more affected by tariffs than automobiles, turned from an increase to a decrease.Tesla reiterated its plan to release new cars this year, including low-priced cars. It still expects that Cybercab, the exclusive product of the driverless taxi Robotaxi, will start mass production next year. It also mentioned that Semi trucks are also planned to be mass-produced next year, but the financial report did not disclose the performance guidance forecasted when the first quarter report was released.After the financial report was announced, Tesla's stock price, which closed up more than 0.1% on Wednesday, first accelerated its rise after the market closed. The increase was close to 2%, and then fell back and turned down.Tesla executives mentioned in the performance conference call that the Trump administration's tax reduction and spending bill and tariff policy to withdraw the tax credit for electric vehicles will hurt the demand for electric vehicles. It is estimated that the cost of tariffs to the company is about 300 million US dollars, saying that it will increase sales efforts and delay the release of new products before the car purchase tax credit policy expires.Tesla CEO Musk also warned in the conference call that Tesla is in an \"unusual transition period.\" The company may face \"several grim quarters\" if it loses incentives for electric vehicle sales in the United States.Tesla's stock price expanded its after-hours decline. During Musk's speech, it fell by more than 4%.<img src=\"https://static.tigerbbs.com/fd23d460fb60c700416a152c8eab5c97\" tg-width=\"912\" tg-height=\"451\"/>After the U.S. stock market closed on Wednesday, July 23, Eastern Time, Tesla announced its financial results for the second quarter of 2025.<img src=\"https://static.tigerbbs.com/532aece43af6a8f51ca5e0f9d96caa87\" alt=\"\"/>1) Key financial dataRevenue: Tesla's operating income in the second quarter was US $22.50 billion, a year-on-year decrease of 12%. Analysts expected US $22.64 billion, a year-on-year decrease of 9% in the first quarter.EPS: Adjusted earnings per share (EPS) on a non-GAAP basis in the second quarter was US $0.40, a year-on-year decrease of 23%. Analysts expected US $0.42, a year-on-year decrease of 40% in the first quarter.Operating profit: Operating profit in the second quarter was US $923 million, a year-on-year decrease of 42%. Analysts expected US $1.23 billion, a year-on-year decrease of 66% in the first quarter.Net profit: Adjusted net profit in the second quarter was US $1.393 billion, a year-on-year decrease of 23%, and a year-on-year decrease of 39% in the first quarter.Profit margin: Operating profit margin was 4.1% in the second quarter, 2.1% in the first quarter, and 6.3% a year ago; The gross profit margin in the second quarter was 17.2%, a year-on-year decrease of 71 basis points from a year ago. In the first quarter, it was 16.3%, and analysts expected 16.5%.Capital expenditures: Capital expenditures in the second quarter were US $2.394 billion, a year-on-year increase of 5%. Analysts expected US $2.43 billion, a year-on-year decrease of 46% in the first quarter.Free cash flow: Free cash flow in the second quarter was US $146 million, a year-on-year decrease of 89%. Analysts expected US $760 million, a year-on-year increase of 126% in the first quarter.2) Segmented business dataautomobile: Automobile revenue in the second quarter was US $16.661 billion, a year-on-year decrease of 16%, and a year-on-year decrease of 20% in the first quarter. The gross profit margin of the automotive business excluding regulatory credit points was 15%, compared with 12.5% in the first quarter.Energy storage: Energy production and storage revenue in the second quarter was US $2.789 billion, a year-on-year decrease of 7%, and a year-on-year increase of 67% in the first quarter.<img src=\"https://static.tigerbbs.com/f4278261782b75c9722edee3b3968928\" tg-width=\"2560\" tg-height=\"1439\"/><h2 id=\"id_3261812694\" style=\"text-align: start;\">In the second quarter, both revenue and profit fell more than expected. \"Carbon selling\" revenue fell for four consecutive seasons</h2>The financial report shows that Tesla's revenue accelerated its decline in the second quarter, with a year-on-year decline accelerating from 9% in the first quarter to 12%, the largest single-quarter revenue decline since 2012, and slightly exceeding the 11% decline expected by analysts.Tesla's profit decline in the second quarter slowed down compared with the first quarter, and the decline still exceeded analysts' expectations. EPS earnings in the second quarter fell 23% year-on-year, almost half of the decline in the first quarter, while analysts expected a 19.2% decline.However, the year-on-year decline in gross profit margin in the second quarter was not as large as expected, falling 71 basis points year-on-year to 17.2%, an increase of 9 percentage points from the first quarter. Analysts expected a year-on-year decline to 16.5%.<img src=\"https://static.tigerbbs.com/e1f68169330692d07b6b76056d318347\" tg-width=\"1131\" tg-height=\"569\"/>In the second quarter, Tesla's free cash flow plummeted 89% year-on-year to US $146 million. Although it remained positive, this was partly due to \"other income\" of US $320 million. In addition, Tesla's earnings before interest, taxes, depreciation and amortization (EBITDA) in the second quarter also increased by US $284 million, accounting for 8% of the total EBITDA of US $3.4 billion, due to an increase of US $284 million in digital assets, namely Bitcoin holdings. above.Tesla's slightly positive free cash flow is also attributed to the fact that the company's capital expenditure growth is still below the level of reaching its full-year spending target of $10 billion. Achieving this goal means more than $3 billion in capital expenditures in each of the next two quarters. Tesla's capital expenditures in the first and second quarters were close to $1.5 billion and $2.4 billion, respectively.As in previous quarters, Tesla's \"carbon selling\" revenue from regulatory credit points fell further, hitting revenue and profits. In the second quarter, \"carbon sales\" revenue reached a one-year low of US $439 million, down 26.2% month-on-month, declining for four consecutive quarters, halving from a year ago, and down 50.7% year-on-year.<img src=\"https://static.tigerbbs.com/d4f8612811510b6f0d78f3baa6120c6f\" tg-width=\"808\" tg-height=\"585\"/><h2 id=\"id_4135326204\" style=\"text-align: start;\">In the second quarter, automotive business revenue fell by 16%, and energy storage business gross profit hit a new high. Super charging network drives services and other revenue to increase by 17%.</h2>Among the main businesses, Tesla's automotive business revenue has declined by double digits year-on-year for two consecutive quarters, with a decline of 16% in the second quarter, a slight slowdown from 20% in the first quarter.The downturn in Tesla's car business has been expected by the outside world. At the beginning of this month, Tesla announced that its second-quarter delivery volume fell by about 13.5% year-on-year to 384,000 vehicles. Although it was stronger than the market's pessimistic expectation of 350,000 vehicles, it was the largest single-quarter delivery decline in the company's history.Compared with a year ago, Tesla's energy storage business revenue growth slowed down further in the second quarter. Revenue fell by 7% year-on-year and increased by 67% in the first quarter. However, compared with the first quarter, the business revenue in the second quarter also increased month-on-month. 2.2%.Tesla said that in the past twelve months (TTM), the deployed installed capacity of the energy storage business based on basic calculations has increased again, setting records for 12 consecutive quarters. Among them, the deployment and installed capacity of Powerwall products hit a single-quarter record for the fifth consecutive quarter. The gross profit of the energy storage business increased both quarter-on-quarter and year-on-year in the second quarter, reaching a single-quarter high of US $846 million.A highlight of the business in the second quarter was that \"service and other revenue\" increased by 17% year-on-year to US $3.05 billion, and the gross profit of this business increased by 64% quarter-on-quarter. Tesla attributes this in part to the revenue growth brought by its Supercharger network. The company mentioned that the net increase of super charging piles exceeded 2,900, a year-on-year increase of 18%.<h2 id=\"id_3859801507\" style=\"text-align: start;\">It is planned to launch new cars this year and more affordable cars. Trial production plans for the first half of the year. Cybercab and Semi will be mass-produced next year</h2>In the product outlook of the financial report, Tesla did not completely copy the rhetoric of the first quarter financial report, but reiterated that it is still launching new cars within this year as planned, including more affordable models. The report reads:\"We will remain focused on prudently increasing vehicle production in an efficient capital expenditure manner by leveraging existing capacity before building new production lines. Plans to launch new vehicles in 2025 are still on track, including a more affordable model. Trial production will begin in the first half of 2025.\"Like the fourth quarterly report and the first quarterly report, this report also predicts that Tesla's product specially built for Robotaxi-Cybercab \"plans to start mass production in 2026.\"In the overview of the financial report, Tesla more clearly mentioned the plan for the launch of affordable cars and the mass production plan of Semi trucks, saying:\"We continue to expand our automotive product line, including the first economical model launched in June, and plan to achieve mass production in the second half of 2025. In addition, we continue to develop Semi and Cybercab, both of which are planned to achieve mass production in 2026.\"<h2 id=\"id_1596596894\" style=\"text-align: start;\">The second quarter is a milestone in the transformation to a leader in AI and robotics services, preparing to launch FSD on a larger scale in China</h2>Commenting on its second-quarter results, Tesla said: \"The second quarter of 2025 is a milestone in Tesla's history: we transitioned from being a leader in the electric vehicle and renewable energy industry to a leader in artificial intelligence (AI), robotics and related services.\"Tesla mentioned the first batch of Robotaxi car service launched last month, which is only available to a dozen Model Y cars in Austin, Texas. Tesla acknowledged that Robotaxi's \"initial scope of service is limited,\" but said that \"our self-driving solution-using a pure camera architecture and using data from millions of our cars around the world to train neural networks\" can continue to improve security, rapidly expand the scale of service networks, and improve profitability.Tesla CEO Musk said two weeks ago that Tesla is expanding its Robotaxi service in the Austin area and is waiting for regulatory approval to launch the service in the California Bay Area, possibly within a month or two. At that time, the media learned that Tesla also planned to expand Robotaxi services to Arizona. California regulators told the media this month that Tesla has not applied for the necessary permits to test or deploy driverless vehicles.On Wednesday, media said that Tesla is in preliminary negotiations with Nevada officials and plans to launch Robotaxi service in the state.In terms of AI and software, Tesla's financial report mentioned that it will further improve and expand the Robotaxi service, so that the service can cover more vehicles and a wider area, and ultimately achieve no safe drivers, while testing in other cities in the United States.Tesla disclosed that it deployed 16,000 new Nvidia H200 GPUs at the Texas Gigafactory, expanding AI training computing capabilities, bringing the total number of H100 GPUs equipped in the state's supercomputing cluster Cortex to 67,000.Tesla also mentioned that it will continue to prepare for the wider launch of FSD (Supervised), a monitored version of fully autonomous driving assistance software, in China this year, and is currently awaiting regulatory approval.<h2 id=\"id_5033842\" style=\"text-align: start;\">The impact of tariffs and fiscal policies and political sentiment is unclear, but R&D and capital expenditure continues</h2>This Tesla financial report reiterated the impact of the Trump administration's tariff war mentioned in the first quarter financial report, and copied the rhetoric in the first quarter report:\"It is difficult to measure the impact of changes in global trade policy on the automotive and energy supply chain, our cost structure, and demand for durable goods and related services. We are making prudent investments to prepare for growth in our automotive and energy businesses, but this year's growth rate will depend on a variety of factors, including the acceleration of our autonomous driving business, ramp-up production at our factories, and the broader macroeconomic environment.\"In addition, this financial report newly states:\"We are continuing to make high-value investments in capital expenditures and research and development while ensuring a strong balance sheet, despite the continued uncertainty in the macroeconomic environment resulting from unclear impacts of tariff changes, fiscal policy changes and political sentiment.\"<img src=\"https://static.tigerbbs.com/532aece43af6a8f51ca5e0f9d96caa87\" title=\"\" tg-width=\"1080\" tg-height=\"1080\"/>1) Key financial dataRevenue: Tesla's operating income in the second quarter was US $22.50 billion, a year-on-year decrease of 12%. Analysts expected US $22.64 billion, a year-on-year decrease of 9% in the first quarter.EPS: Adjusted earnings per share (EPS) on a non-GAAP basis in the second quarter was US $0.40, a year-on-year decrease of 23%. Analysts expected US $0.44, a year-on-year decrease of 40% in the first quarter.Operating profit: Operating profit in the second quarter was US $923 million, a year-on-year decrease of 42%. Analysts expected US $1.23 billion, a year-on-year decrease of 66% in the first quarter.Net profit: The adjusted net profit in the second quarter was US $1.393 billion, a year-on-year decrease of 23%, and a year-on-year decrease of 39% in the first quarter.Profit margin: Operating profit margin was 4.1% in the second quarter, 2.1% in the first quarter, and 6.3% a year ago; The gross profit margin in the second quarter was 17.2%, a year-on-year decrease of 71 basis points from a year ago. In the first quarter, it was 16.3%, and analysts expected 16.5%.Capital expenditures: Capital expenditures in the second quarter were US $2.394 billion, a year-on-year increase of 5%. Analysts expected US $2.43 billion, a year-on-year decrease of 46% in the first quarter.Free cash flow: Free cash flow in the second quarter was US $146 million, a year-on-year decrease of 89%. Analysts expected US $760 million, a year-on-year increase of 126% in the first quarter.2) Segmented business dataAutomobile: Automobile revenue in the second quarter was US $16.661 billion, a year-on-year decrease of 16%, and a year-on-year decrease of 20% in the first quarter. The gross profit margin of the automotive business excluding regulatory credit points was 15%, compared with 12.5% in the first quarter.Energy storage: Energy production and storage revenue in the second quarter was US $2.789 billion, a year-on-year decrease of 7%, and a year-on-year increase of 67% in the first quarter.The financial report shows that Tesla's revenue accelerated its decline in the second quarter, with a year-on-year decline accelerating from 9% in the first quarter to 12%, the largest single-quarter revenue decline since 2012, and exceeding analysts' expectations for an 11% decline.<h2 id=\"id_1480199560\" style=\"text-align: start;\">As planned, new cars will be launched this year and more affordable cars will be trial-produced in the first half of the year, reiterating plans for mass production of Cybercab next year</h2>In the product outlook of the financial report, although the rhetoric of the first quarter financial report was not completely copied, Tesla reiterated that it is still launching new cars within this year as planned, including more affordable models. The report reads:\"We will remain focused on prudently increasing vehicle production in an efficient capital expenditure manner by leveraging existing capacity before building new production lines. Plans to launch new vehicles in 2025 are still on track, including a more affordable model. Trial production will begin in the first half of 2025.\"Like the fourth quarterly report and the first quarterly report, this report also predicts that Cybercab, a Robotaxi product specially built by Tesla, \"plans to start mass production in 2026.\"After the financial report was released, Tesla's stock price first rose and then fell after the market closed.<img src=\"https://static.tigerbbs.com/a12ffa15dc97bc3503996fcee7b365ea\" title=\"\" tg-width=\"908\" tg-height=\"457\"/></body></html>\n<div class=\"bt-text\">\n\n\n source：<a href=\"https://wallstreetcn.com/articles/3751756\">华尔街见闻</a>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/968c7f56416ea450ba452ed25e324d2e","relate_stocks":{"LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4612":"AI芯片","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","BK4550":"红杉资本持仓","TSLA":"特斯拉","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","BK4527":"明星科技股","BK4099":"汽车制造商","BK4585":"ETF&股票定投概念","BK4555":"新能源车","LU0345769128.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) ACC"},"source_url":"https://wallstreetcn.com/articles/3751756","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135224121","content_text":"二季度特斯拉营收同比降12%、EPS降23%，均超预期下滑，“卖碳”收入环比连降四季；二季度汽车业务收入同比降16%、连续两季两位数下滑，储能业务毛利创单季新高，超级充电网推动服务及其他收入增长17%；特斯拉重申按计划今年推出新车、Robotaxi产品Cybercab明年量产，称计划更平价车今年上半年试产、下半年量产、Semi卡车明年量产；二季度是向AI和机器人服务领头羊转型的里程碑，准备在中国更大范围推出FSD、待监管批准；关税和财政政策及政治情绪的影响尚不明，但继续研发和资本支出的投入。电话会预计关税成本约3亿美元，马斯克警告未来几个季度恐怕形势严峻。特斯拉盘后先涨后跌，股价跌超4%。刚刚过去的第二季度，特斯拉从销售收入到利润全线 超预期下降，最大业务汽车的收入继续两位数下滑，相比汽车更受关税冲击的能源业务收入由增转降。特斯拉重申了包括低价车在内的今年发布新车计划，依然预计，无人驾驶出租车Robotaxi的专属产品Cybercab将于明年开始量产，还提到Semi卡车也计划明年量产，但财报中并未披露公布一季报时预告的业绩指引。财报公布后，周三收涨逾0.1%的特斯拉股价盘后先加速上涨，涨幅曾接近2%，后回落转跌。特斯拉高管在业绩电话会上提到，特朗普政府撤销电动车税收抵免的减税和支出法案以及关税政策将伤害电动车的需求，预计关税给公司带来的成本约为3亿美元，称将在购车税收抵免政策到期失效之前加大销售力度，推迟新品发布。特斯拉CEO马斯克还在电话会上警告，特斯拉处于一个“不寻常的转型期”。 公司在美国丧失电动汽车销售的激励政策，恐怕会面临“好几个形势严峻的季度”。特斯拉股价盘后跌幅扩大，马斯克讲话期间，跌幅超过4%。美东时间7月23日周三美股盘后，特斯拉公布2025年第二季度财务业绩。1）主要财务数据营收：二季度特斯拉营业收入225.0亿美元，同比下降12%，分析师预期226.4亿美元，一季度同比下降9%。EPS：二季度非GAAP口径下调整后每股收益（EPS）为0.40美元，同比下降23%，分析师预期0.42美元，一季度同比下降40%。营业利润：二季度营业利润9.23亿美元，同比下降42%，分析师预期12.3亿美元，一季度同比下降66%。净利润：二季度调整后净利润13.93亿美元，同比下降23%，一季度同比下降39%。利润率：二季度营业利润率为4.1%，一季度为2.1%，一年前为6.3%；二季度毛利率为17.2%，较一年前同比下降71个基点，一季度为16.3%，分析师预期16.5%。资本支出：二季度资本支出23.94亿美元，同比增长5%，分析师预期24.3亿美元，一季度同比下降46%。自由现金流：二季度自由现金流1.46亿美元，同比下降89%，分析师预期7.6亿美元，一季度同比增长126%。2）细分业务数据汽车：二季度汽车营收166.61亿美元，同比下降16%，一季度同比下降20%。剔除监管信贷积分的汽车业务毛利率为15%，一季度为12.5%。储能：二季度能源生产和存储收入为27.89亿美元，同比下降7%，一季度同比增长67%。二季度营收和盈利均超预期下降 “卖碳”收入连降四季财报显示，二季度特斯拉的营收加速下滑，同比降幅从一季度的9%加快至12%，创2012年来最大单季营收降幅，而且略超过分析师预计的降幅11%。二季度特斯拉的利润下滑幅度相比一季度放缓，降幅依旧超过分析师预期。二季度EPS盈利同比下降23%，降幅几乎为一季度降幅的一半，而分析师预期下降19.2%。不过，二季度的毛利率同比降幅没有预期大，同比下降71个基点至17.2%，环比一季度还提高了9个百分点，分析师预期同比降至16.5%。 二季度特斯拉的自由现金流同比剧减89%至1.46亿美元，虽然保持正值，但这要部分归功于3.2亿美元的“其他收入”。此外，由于数字资产、即比特币的持有收益增加2.84亿美元，特斯拉二季度的息税折旧摊销前利润（EBITDA）也增长了2.84亿美元，占34亿美元EBITDA总额的8%以上。特斯拉略微为正的自由现金流还要归因于公司的资本支出增速仍低于达到100亿美元全年支出目标的水平。要实现这一目标，意味着未来两个季度的资本支出将分别超过30亿美元。特斯拉一季度和二季度的资本支出分别接近15亿美元和24亿美元。和前几个季度一样，特斯拉来自监管信贷积分的“卖碳”收入进一步下降，打击了营收和利润。二季度“卖碳”收入4.39亿美元至一年来低位，环比下降26.2%，连续四个季度下降，较一年前砍半、同比下降50.7%。二季度汽车业务收入下降16% 储能业务毛利创新高 超级充电网推动服务等收入增长17%主要业务中，特斯拉汽车业务收入连续两个季度同比两位数下滑，二季度降幅16%，较一季度的20%略为放缓。特斯拉汽车业务的低迷已在外界意料之中。本月初特斯拉公布的二季度交付量同比下降约13.5%至38.4万辆，虽然强于市场的悲观预期35万辆，但已经创公司史上最大单季交付量降幅。相比一年前，二季度特斯拉的储能业务收入增长进一步放缓，收入同比下降7%，一季度还大增67%，但相比一季度，二季度的业务收入还环比增长了2.2%。特斯拉称，过去十二个月 (TTM)基础计算的储能业务部署装机量再次增长，连续12个季度创纪录。其中，Powerwall产品的部署装机连续第五个季度创单季最高纪录。储能业务的毛利二季度环比和同比均增长，达到创单季新高的8.46亿美元。二季度业务的一个亮点是“服务及其他收入”同比增长17%至30.5亿美元，该业务的毛利环比增长64%。特斯拉将此部分归功于，旗下超级充电网络带来的收入增长。该司提到，超级充电桩净增超过2900个，同比增长18%。按计划今年推出新车 更平价车上半年试产 计划Cybercab和Semi明年量产财报的产品展望中，特斯拉没有完全照搬一季度财报的说辞，但重申，仍在按计划今年内推出新车，包括更平价车型。报告写道：“我们仍将专注于在建设新生产线之前，通过利用现有产能，以高效资本支出的方式审慎地增加汽车产量。2025年推出新车的计划仍在按计划进行，包括一款价格更亲民的车型将于2025年上半年试生产。”和四季报以及一季报一样，本次报告也预计，特斯拉专为Robotaxi打造的产品——Cybercab“计划于2026年开始量产”。在财报的概述中，特斯拉更明确提到平价车的问世计划和Semi卡车的量产计划，称：“我们持续拓展汽车产品线，包括6月推出的首款经济型车型，并计划于2025年下半年实现量产。此外，我们还持续开发Semi和Cybercab，均计划于2026 年实现量产。”二季度是向AI和机器人服务领头羊转型的里程碑 准备在华更大范围推出FSD特斯拉在评论二季度业绩时表示：“2025年第二季度是特斯拉历史上的一个里程碑：我们从电动汽车和可再生能源行业的领头羊转型为人工智能（AI）、机器人及相关服务领域的领导者。”特斯拉提到上月启动的首批Robotaxi汽车服务，该服务仅适用于在得州奥斯汀市内的十几辆Model Y车。特斯拉承认，Robotaxi“服务初期范围有限”，但表示，“我们的自动驾驶方案——采用纯摄像头架构，并利用来自我们全球数百万辆汽车的数据对神经网络进行训练”能够持续提升安全性，快速扩展服务网络规模，并提高盈利能力。特斯拉CEO马斯克两周前表示，特斯拉正在扩大奥斯汀地区的Robotaxi服务范围，并正等待监管部门批准在加州湾区推出此服务，可能一两个月内推出。当时媒体获悉特斯拉还计划将Robotaxi服务扩展到亚利桑那州。加州监管机构本月向媒体透露，特斯拉尚未申请测试或部署无人驾驶车辆的必要许可。本周三有媒体称，特斯拉正与内华达州官员进行初步洽谈，计划在该州推出Robotaxi服务。在AI和软件方面，特斯拉本次财报提到，将进一步改进和扩展Robotaxi服务，让服务覆盖更多车辆和更广的区域，最终实现无安全驾驶员，同时在美国其他城市进行测试。特斯拉披露，在得州超级工厂新增部署1.6万块英伟达H200 GPU，扩展了AI训练计算能力，使得州的超级计算集群Cortex所配备H100 GPU总数达到6.7万块。特斯拉还提到，将继续筹备今年在中国更广泛地推出全自动驾驶辅助软件的监控版FSD (Supervised)，目前正等待监管部门的批准。关税和财政政策及政治情绪影响尚不明 但继续研发和资本支出投入 本次特斯拉财报重申了一季度财报中提到的特朗普政府发动关税战影响，照搬了一季报中的说辞： “很难衡量全球贸易政策变化对汽车和能源供应链、我们的成本结构以及耐用品及相关服务需求的影响。我们正在进行审慎的投资，为汽车和能源业务的增长做好准备，但今年的增长率将取决于多种因素，包括我们自动驾驶业务的加快速度、工厂的产量提升以及更广泛的宏观经济环境。”此外，本次财报新增指出：“尽管关税变动、财政政策变化和政治情绪的影响尚不明朗，导致宏观经济环境持续不确定，我们仍在继续对资本支出和研发进行高价值投资，同时确保强劲的资产负债表。”1）主要财务数据营收：二季度特斯拉营业收入225.0亿美元，同比下降12%，分析师预期226.4亿美元，一季度同比下降9%。EPS：二季度非GAAP口径下调整后每股收益（EPS）为0.40美元，同比下降23%，分析师预期0.44美元，一季度同比下降40%。营业利润：二季度营业利润9.23亿美元，同比下降42%，分析师预期12.3亿美元，一季度同比下降66%。净利润：二季度调整后净利润13.93亿美元，同比下降23%，一季度同比下降39%。利润率：二季度营业利润率为4.1%，一季度为2.1%，一年前为6.3%；二季度毛利率为17.2%，较一年前同比下降71个基点，一季度为16.3%，分析师预期16.5%。资本支出：二季度资本支出23.94亿美元，同比增长5%，分析师预期24.3亿美元，一季度同比下降46%。自由现金流：二季度自由现金流1.46亿美元，同比下降89%，分析师预期7.6亿美元，一季度同比增长126%。2）细分业务数据汽车：二季度汽车营收166.61亿美元，同比下降16%，一季度同比下降20%。剔除监管信贷积分的汽车业务毛利率为15%，一季度为12.5%。储能：二季度能源生产和存储收入为27.89亿美元，同比下降7%，一季度同比增长67%。财报显示，二季度特斯拉的营收加速下滑，同比降幅从一季度的9%加快至12%，创2012年来最大单季营收降幅，而且超过了分析师预计的降幅11%。按计划今年推出新车 更平价车上半年试产 重申计划Cybercab明年量产财报的产品展望中，虽然没有完全照搬了一季度财报报告的说辞，但特斯拉重申，仍在按计划今年内推出新车，包括更平价车型。报告写道：“我们仍将专注于在建设新生产线之前，通过利用现有产能，以高效资本支出的方式审慎地增加汽车产量。2025年推出新车的计划仍在按计划进行，包括一款价格更亲民的车型将于2025年上半年试生产。”和四季报以及一季报一样，本次报告也预计，特斯拉专为打造的Robotaxi产品——Cybercab“计划于2026年开始量产”。财报发布后，特斯拉股价盘后先涨后跌。","news_type":1,"symbols_score_info":{"TSLA":1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":13,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1135224121","isCrawlerRequest":true}