BYD 1211

Re: BYD 1211

Postby winston » Fri Feb 13, 2015 3:49 pm

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<Research Report>BYD COMPANY's sale of non-core business positive; rated Buy - Nomura

Nomura, in its latest report, said that BYD COMPANY (01211.HK) intended to dispose of its electronic components business to Holi Tech at a maximum consideration of RMB2.3 billion.

Upon completion, the group will record an asset disposal gain of RMB1.629 billion, being the second-largest shareholding of Holi Tech.

The research house believed that the raised funds will be used as capex for EV and battery capacity expansion.

The move is positive as shareholders will not need to worry about near-term share dilution.

The rating of BYD Company was reiterated at Buy, while the target price remained constant at $64.

Source: AAStocks Financial News
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Re: BYD 1211

Postby winston » Tue Feb 17, 2015 6:28 am

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BYD continues to charge up over sales hope

Shares of Chinese electric carmaker BYD (1211) jumped 10.71 percent to HK$32.55 after a positive report issued by Merrill Lynch yesterday.
The gains represent an accumulated price surge of 29 percent in the past three trading days.

Merrill Lynch expects BYD's sales of electric cars to grow strongly in the third quarter of this year, and adjusted its target price to HK$55.76 from HK$55.09 apiece.

The firm's production capacity for automotive batteries can reach five gigawatt to six gigawatt hours by the next half, which will support delivery of of 54,000 electric cars this year, Merrill Lynch said after visiting BYD's Shenzhen factories.

The investment house expects BYD's utilization rate of battery production capacity to surpass 90 percent this year from 77 percent a year back.

On Friday, BYD announced a plan to sell all of its equity interest in its electronic component business for a total of 2.3 billion yuan (HK$285.6 billion) to fully focus on the electric car business.

On the same day, it was found to appear on a list of suppliers for Apple, which is believed to be developing a car.

BYD shares soared 11.56 percent on Friday.

Source: The Standard HK
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Re: BYD 1211

Postby winston » Wed Feb 18, 2015 5:41 am

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The Ministry of Science and Technology said the number of new-energy vehicles in China will hit 500,000 in the next five years.

That helped BYD (1211) rise for a second straight day after Bank of America Merrill Lynch lifted its target price to HK$55.76.

Warren Buffett's Berkshire Hathaway still holds 9.56 percent of BYD through MidAmerican Energy unit. In December 2008, it paid US$230 million (HK$1.79 billion) for the shares, worth US$400 million today.

BYD made a net profit of 553 million yuan (HK$685.83 million) in 2013 but paid 1.3 billion yuan in interest expense.

As of yesterday, it was trading at 117 times historical earnings.

In the absence of any big leap in electric car and battery technology, high volatility in BYD's share price is likely.


Source: Dr Check, The Standard HK
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Re: BYD 1211

Postby winston » Mon Mar 30, 2015 6:15 am

Automaker BYD runs into profits slowdown

BYD (1211), which counts Warren Buffett's Berkshire Hathaway among its backers, posted a 21.6 percent fall in net profit last year due to the slowing economy and increased competition.

The Shenzhen-based automaker made 433.5 million yuan, compared with a 553.1 million yuan net in 2013.

No final dividend is to be paid.

Mainland vehicle sales rose 6.9 percent last year and are expected to grow 7 percent in 2015, says the China Association of Automobile Manufacturers. Overall revenue for the group was about 55.37 billion yuan, an increase of 11.25 percent.

Automobiles and related products saw revenue of about 26.27 billion yuan, up by 3.87 percent. Policy changes and market competition have put pressure on the fuel-powered automobile industry.

Sales fell 21.3 percent to about 373,000 units.

But sales of new- energy vehicles increased six times to about 7.25 billion yuan, accounting for 27.6 percent of revenue from the automobile business.

BYD, originally a maker of mobile phone batteries, has grown into one of the largest independent car brands by specializing in electric and hybrid vehicles.

Source: The Standard HK
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Re: BYD 1211

Postby winston » Thu Apr 02, 2015 6:54 am

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BYD (1211) whose share price gained 9.9 percent and closed at HK$43.85. From its recent trough of HK$24.85 in February, the cumulative gain is a hefty 76 percent in less than two months.

Veteran investors should remember that the legend began in September 2008 when Berkshire Hathaway purchased roughly 10 percent of BYD at HK$8.40 per share. It was said that BYD would launch electric cars in 2009 in the mainland and in overseas markets in 2011.

In October 2009, its shares peaked at HK$88.40. But the financial tsunami came and one year later, its price plunged to HK$10.92.

After launching in December 2013 its new energy vehicle, Qin, its shares steadily recovered and touched HK$57.80 last September. But on December 18, BYD's stock slumped 28.8 percent to HK$25.05.

The firm addressed market concerns and confirmed its three business segments autos, mobile handset components and batteries were running smoothly.

BYD faced fierce competition and decreasing profit margins in the traditional petrol engine car market in China. Its future relies heavily on its line of electric vehicles and plug-in hybrids.

The new energy car story will certainly create expectations for investors. But you have to prepare for a prolonged high degree of volatility in its stock price.

Source: Dr Check , The Standard HK
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Re: BYD 1211

Postby winston » Thu Apr 09, 2015 10:50 am

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31 Mar, 2015

<Research Report>BofA Merrill Lynch maintains BYD COMPANY(01211.HK) at Buy with target lifted to $62.82

BofA Merrill Lynch stated in its report that BYD COMPANY(01211.HK) chairman mentioned there will be two new rounds of subsidiaries favouring new energy vehicles in April and June.

In addition, with the recent battery capacity increase, BYD believes its plug-in hybrid electric vehicle Qin?s monthly run-rate will double in May to 3,500 units from the February level.

The group also expected the Shenzhen government to accelerate the pace to replace conventional taxis with electric ones in the near term.

BofA Merrill Lynch revised up the EPS forecasts in 2015-2017 to RMB1.56-2.24. The rating was maintained at Buy and the target was lifted from $55.76 to $62.82.

Source: AAStocks Financial News
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Re: BYD 1211

Postby winston » Thu Apr 09, 2015 11:15 am

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Mar 31, 2015

<Research Report>G Sachs maintains BYD COMPANY(01211.HK) at Buy with target lifted to $39.71

As pointed out by Goldman Sachs, BYD COMPANY(01211.HK)'s results were in concordance with estimates, mainly attributable to higher sales/ EBITDA margin with lower financing costs, which partly offset higher-than-expected effective income tax rate and lower non-operating income.

At the analyst meeting, the company will further increase NEV battery capacity to 8-9 Gwh by end of 2015 with target NEV sales volume of 60,000-70,000 units.

The research house trimmed the company's 2015-17 earnings forecast by -2%/ +7%/ +9%, in order to reflect near-term effective tax rate headwinds.

The target price was raised from $36.2 to $39.71 and the rating was maintained at Buy.

Source: AAStocks Financial News
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Re: BYD 1211

Postby winston » Thu May 21, 2015 6:42 pm

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BYD COMPANY (01211.HK) enters Brazilian electric bus market

BYD COMPANY (01211.HK) +4.450 (+8.882%) Short selling $74.30M; Ratio 5.708% officially signed the contract with Marcopolo S.A., the largest vehicle body manufacturer in Brazil.

Both parties are going to start the strategic cooperation in the pure electric bus sector, Shanghai Morning Post reported.

Such move symbolizes that BYD COMPANY's new energy buses officially enter the Brazilian campus public transport market.

According to the previous media reports in China, BYD Company, ICBC(01398.HK) -0.030 (-0.446%) Short selling $148.73M; Ratio 12.049% , CCB(00939.HK) +0.010 (+0.132%) Short selling $129.02M; Ratio 8.420% , BANK OF CHINA (03988.HK) -0.060 (-1.149%) Short selling $144.41M; Ratio 14.308% , BANKCOMM (03328.HK) -0.070 (-0.927%) Short selling $31.60M; Ratio 19.048% and China Development Bank have followed the Chinese Premier Li Keqiang to visit the four countries in South America.

BYD COMPANY-H surged by 5.9% to $53.05 at midday.

Source: AAStocks Financial News
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Re: BYD 1211

Postby winston » Wed May 27, 2015 5:29 am

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BYD eyes private A-shares sale to fund INVESTMENTS

BYD Co (1211) plans to raise about 10 billion yuan (HK$12.5 billion) in a private A-shares placement amid a stock MARKET rally that has seen its Shenzhen- traded shares almost double in value this year.

Details, including the size of the offering, have not been FINALIZED and are subject to change.

The company, which counts Warren Buffett's Berkshire Hathaway as a shareholder, joins the rush of Chinese companies tapping the equity market for up to US$116 billion (HK$904 billion) in secondary stock offerings so far this year.

"It makes perfect sense to go ahead with A-shares placement now, given the rally in the market," said Harry Chen, an analyst at Guotai Junan Securities in Shenzhen.

BYD needs to boost investment in areas such as battery manufacturing, which has been a bottleneck for its vehicle assembly.

BYD has halted TRADING of its Hong Kong and Shenzhen shares pending an announcement for a private placement. Vice president Li Ke said last week it plans to invest 150 million Brazilian real (HK$371.75 million) building a solar panel factory in Brazil.

The automaker expects the plant to make 400 megawatts of solar panels a year.

BYD projects more orders for electric buses after WINNING its largest US contract for the vehicles from a mass-transit operator last month.


Source: BLOOMBERG
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Re: BYD 1211

Postby winston » Thu Jun 04, 2015 6:37 am

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BYD Company (1211) said it is rolling out a private A SHARE placement to raise up to 15 billion yuan (HK$18.7 billion).

The Warren Buffett-backed carmaker will sell more than 261.3 million SHARES at a minimum of 57.4 yuan apiece to fewer than 10 investors.

It plans to use 6 billion yuan for expanding battery output, 5 billion yuan for research and 4 billion yuan for lifting CASH FLOW and repaying bank borrowings.

BYD also said from 2015 to 2017, it will distribute up to 10 percent of its profit as cash dividend each year.

Source: The Standard HK
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