BYD 1211

[winston]

not vested

Citi Recommends to Accumulate BYD COMPANY with 5 Upbeat Reasons

Citigroup laid out five reasons for its upbeat view on BYD COMPANY (01211.HK):-

1) the company is one of the few domestic players in China which self develops and produces auto-grade IGBT, MCU, CIS, BMS, and SiC MOSFET;

2) BYD's spin-off listing of its semiconductor unit has been moving along well;

3) potential investors involve in the deal;

4) BYD was expected to post resilient NEV MoM sales growth in June-August;

5) local NEV brands may realize 70% NEV annual sales market share by 2025E.

Citigroup viewed that now is the time to accumulate BYD, granting a Buy rating and $287 target price.

Source: AAStocks Financial News

[winston]

not vested

BYD Company – 4Q21: Results missed estimates on exceptional losses and margins.
(1211 HK/BUY/HK$223.80/Target: HK$350.00)

BYD’s 4Q21 net profit came in below estimates at Rmb602m (-27% yoy/-53% qoq), due to the Rmb798m in unexpected exceptional losses and lower margins given hikes in raw material costs.

Driven by a strong cash flow, BYD turned into net cash at end-21.

Looking ahead, management expects 1.5m-2.0m units in EV sales in 2022, higher than the previous guidance, based on the strong order flows.

To factor in higher costs, we cut 2022-23 EPS estimates by 26-27%. Maintain BUY. Cut target price to HK$350.00.

Source: UOBKH

[winston]

BYD business booms in April

by Aiden He

BYD Company (1211) said it recorded a 134 percent year-on-year growth in April's vehicle sales to 106,042.

All the sales were made from new energy vehicles, which surged 3.1 times from last year's numbers, while none were attributed to fuel-driven vehicles, compared to 19,572 in the same period of 2021.

The Chinese electric vehicle maker has stopped production of fuel-powered automobiles since March.

Of the 105,475 passenger vehicles it sold last month, battery electric vehicles amounted to 57,403, up 2.67 times year-on-year, and the sales of plug-in hybrid electric vehicles also rocketed seven times to 48,072, the EV giant said in a filing yesterday.

Car sales in the first four months of this year soared by 1.66 times from a year ago to 397,420, it said.

The Warren Buffett-backed company grew its net profit by 241 percent to 808.4 million yuan (HK$967.8 million) in the three months ended March 31 from a year earlier.

Source: The Standard

https://www.thestandard.com.hk/section- ... s-in-April

[winston]

not vested

BYD COMPANY(1211)

Analysis：

On May 3rd, BYD Company Limited (297.HK), the leading new energy vehicle company, announced that the company has sold 106 thousand new energy vehicles in April, an increase of 313.22% compared with the same period last year.

From January to April, the cumulative sales volume was 392.4 thousand, with an increase of 387.94% compared with the same period of last year.

The increase in the company`s revenue was mainly attributable to the rapid growth of the new energy vehicle.

Recently, due to the impact of the epidemic, auto parts companies in many regions of the country have stopped production and operations, which has seriously affected the production and delivery of vehicle companies.

However, there are several reasons why BYD`s deliveries have increased rather than decreased.

First of all, the company has been involved in power batteries, semiconductors and many other fields, which can effectively alleviate the pressure from the supply chain;

On the other hand, BYD has established a solid reputation in the market, even against the background of the general increase in the price of new energy vehicles, BYD also has a stronger premium power.

Strategy：
Buy-in Price: $238.40, Target Price: $257.50, Cut Loss Price: $229.20

Source: Phillips

[winston]

not vested

China/Hong Kong: BYD Company (1211 HK/002594 CH): Overtaking Tesla as a global EV player [BUY, TP HK$380]

Surging gasoline price positive on NEV market; BYD’s rich line up of new models signal better profit outlook

Favourable policies with possible extension of NEV tax savings

Transition into a global EV player with an aggressive overseas expansion strategy; business scale could potentially account for 10% of total in the medium-term

Reiterate BUY with higher TP of HK$380 based on SOTP

Source: DBS

[winston]

not vested

BYD 1H22 NEV Sales 641K Units, Knocking off Tesla as World's Champion

BYD COMPANY (01211.HK)'s sales of new energy vehicles (NEVs) in the first half of the year surged 3.1 times yearly to 641,400 units, knocking off Tesla (TSLA.US)'s about 564,700 units and becoming the EV sales champion in the world.

Source: AAStocks Financial News

[winston]

G Sachs Forecasts BYD COMPANY (01211.HK) CN NEV Mkt Shr to Rise to 45% in 2025

BYD COMPANY (01211.HK) has become one of the world's most valuable carmakers with market cap exceeding RMB1 trillion.

Goldman Sachs assumed BYD's new energy vehicle market share to rise from 26% in 1Q22 to 36% in 2023, 45% in 2025, and even 52% in 2030.

This was mainly driven by in-house component expertise/capacity, as well as vast auto model offerings.

The carmaker's H-shares were kept at Buy (Conviction List).

With market demand spike and faster EV popularization in China, BYD may be the biggest beneficiary of sales volume upside. The firm's advantageous scale should also offer cash flow capability and R&D budgets.

Related News: C Suisse: BYD Jun Sales Vol. Soars 1.6x YoY Logging New High; Rating Reiterated Outperform

Source: AAStocks Financial News

[winston]

not vested

225M BYD COMPANY Shrs Transferred to Citi; Rumor: Stake Cut by Buffett

On 11 July, 225 million shares of BYD COMPANY (01211.HK) were transferred to Citi, as HKEX (00388.HK)'s Central Clearing And Settlement System (CCASS) showed.

Market participants gauged that the batch of shares may be connected to the stake cut by Berkshire Hathaway, an investment flagship under Warren Buffett.

BYD's shares tumbled 9.5% to $277.8 in last printing, seeking new lows after opening down this morning.

Source: AAStocks Financial News

[winston]

not vested

Chinese Electric Car Giant BYD’s Slump Fuels Speculation on Warren Buffet Adjusting Holdings

by Jeanny Yu

The 20.49% stake -- identical to the size of Berkshire’s last reported holding in Hong Kong as of December -- entered the Central Clearing and Settlement System, exchange data as of Monday showed.

While there are many reasons a stake might appear in CCASS, such moves are often seen by traders as precursors to sales because shares must enter the system before transactions can be settled.

Two-year gain of nearly 300% in Hong Kong.

Berkshire first bought 225 million shares in BYD in September 2008 for about $230 million. The Hong Kong-listed shares have since soared over 2,000%. At its closing price of HK$306.80 on Monday, Berkshire’s 20.49% stake in the Hong Kong shares is worth roughly $9 billion.

Source: Bloomberg

https://finance.yahoo.com/news/chinese- ... 50086.html

[winston]

not vested

BYD To Unleash More Profit in Future after Raw Material Prices Ebb

BYD COMPANY (01211.HK) told investors that the company would have to hike its product prices to cope with the surging upstream raw material prices in 1H22.

Yet, the company may unleash more profits in future after the upstream raw material prices ebb back since the costs have become stable.

Related News: M Stanley Lifts BYD COMPANY (01211.HK) TP to $300, LI AUTO-W (02015.HK)'s to $209

Source: AAStocks Financial News