BYD 1211

[winston]

not vested

BYD Company Ltd (1211 HK / 002594 CH): <Profit alert> Anticipate a sharp increase in 1H22 net earnings (above expectation) [BUY, TP HK$380.00 / HOLD, TP RMB330.00]

BYD expects 1H22 net earnings to increase by 138-206% yoy; largely driven by its strong NEV business

Total vehicle sales surged about 160% yoy in 1H, of which NEV at over 300% expansion

Better revenue mix helped to drive profitability

Maintain BUY with HK$380 TP

Source: DBS

[winston]

not vested

BYD Company (1211 HK)

BYD released a positive profit alert, expecting its interim net profit to be in the RMB2.8b-3.6b (+139% to 207% YoY). This implies its 2Q22 net profit is in the range of RMB1.99b-2.79b, much higher than its 1Q22 of RMB808m.

BYD explained the robust growth was driven by its NEV expanding market share and production volume.

It is observed that BYD has been shifting the production mix from the low-ASP models toward the high-ASP models, which helped to lift the margin and profitability against the growing battery cost in 2Q22E.

Looking into its upcoming launches in 2H22, BYD will launch Denza D9, Cruiser 07, Cruiser 05, Sea Lion, and Seagull.

Most models are expected to be with higher average selling prices (ASP) than their existing models' ASP, hence, it should accelerate their profitability growth.

Source: Maybank

[behappyalways]

特斯拉難獨霸電動車市場？ 股神巴菲特看上比亞迪 沙主權基金看中Lucid 得電池者得天下？｜20220806｜@王志郁
https://m.youtube.com/watch?v=fYNHZZNMpqs

[behappyalways]

BYD plunges after Buffett trims his stake; one fund manager says it could be a warning sign
https://www.cnbc.com/2022/08/31/china-e ... stake.html

[winston]

not vested

BYD's NEV sales soar 234pc to 1.4m units

by Arita Peng

BYD (1211) said sales of new energy vehicles in the first 10 months of 2022 soared 234 percent year-on-year to 1.4 million units.

NEV sales in October also jumped to more than 200,000 units from 81,040 last year.

China's biggest electric vehicle maker said the growth was boosted by sales of passenger vehicles, which accounted for over 98 percent of all EV sales.

It recorded 239 percent growth year-on-year to 1.39 million units in the first 10 months, and surged by 172 percent year-on-year to 217,518 units last month.

Among passenger vehicles, sales of plug-in hybrid EVs jumped 2.83 times to over 700,000 in the first 10 months, and increased by 1.95 times to over 114,000 units last month.

EV production from January to October rose 233.5 percent from last year to over 1.4 million units.

Last month's production recorded 220,107 units, up 169 percent compared with 81,575 units from a year ago.

However, sales of commercial vehicles including buses, fell by 35.65 percent in the first 10 months to over 5,000 units.

Sales of oil-fueled vehicles plunged 95 percent over the same period.

NEVs comprise pure electric, plug-in hybrid and fuel-cell cars.

Source: The Standard

https://www.thestandard.com.hk/section- ... 1.4m-units

[winston]

not vested

Air-con powder pumps up heat among BYD drivers

BYD said the powder spray was caused by abnormalities in air-con evaporators and claimed it would not cause harm if inhaled as the main component of the powder is aluminum hydroxide, used as a stomach medicine.

Source: The Standard

https://www.thestandard.com.hk/section- ... YD-drivers

[winston]

not vested

BYD enters luxury EV market with SUV priced up to US$200,000

Will launch its new luxury brand Yangwang in the January-March quarter of next year.

First model released under the new brand will be an off-road SUV, priced at 800,000 to 1.5 million yuan (US$115,000-US$216,000).

BYD announced its withdrawal from the production of gasoline vehicles in the spring and now specialises in EVs and plug-in hybrid vehicles such as its flagship Dynasty series and Ocean series vehicles.

Mostly been favoured by middle-income consumers, with prices in the 100,000-to-200,000 yuan range. New car sales are soaring, and cumulative sales of EVs and plug-in hybrids have surpassed 3.1 million units.

Plans to start selling its Atto 3 electric SUV in Japan from January.

Source: Nikkei

https://www.freemalaysiatoday.com/categ ... -us200000/

[behappyalways]

BYD's Strong Attack, Tesla's Electric Car Throne Meets a Strong Rival

比亞迪強勢進攻 特斯拉電動車寶座遇勁敵 TVBS文茜的世界財經周報 20230528 X SHARP

https://m.youtube.com/watch?v=HB38D3ZO1qY

[behappyalways]

"#BYD, backed by Warren Buffett, is now the world’s 2nd-largest EV battery producer, reinforcing #China’s dominance of the industry...

The co, also the world’s largest EV maker, now trails only domestic rival #CATL, w/the 2 controlling a combined 52% of the global mkt"

https://twitter.com/ChinaBeigeBook/stat ... 6572196865

[winston]

not vested

3m EV shipment target remains intact

Management remains confident of meeting its 3mEV shipments in 2023F as it expects EV deliveries to accelerate in 2H23F on several growth drivers.

It also expects EV margins to be protected by better operational scale, lower lithium carbonate pricing, and BYD’s integrated production capability.

Reiterate Add, with an unchanged DCF-based TP of HK$342.0.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 6691F68F18