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<Research>HSBC Research Views BYD COMPANY (01211.HK) Has Multiple Advantages, Reiterates Buy Rating
Recommend 21 Positive 30 Negative 11 |
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Despite heightened volatility in the mainland market, BYD COMPANY (01211.HK)(002594.SZ) possesses numerous advantages, said HSBC Global Research in a report. The automaker's launch of the “God's Eye”, an intelligent driving system, in February has stunned the market. Paired with increased exposure in overseas markets, the broker reiterated its Buy rating on BYD, maintaining a target price of HKD151 for its H shares and RMB430 for A shares. BYD enjoys higher pricing and profit margins overseas compared to domestically, due to less competition and superior vehicle quality compared to global electric vehicle (EV) products, the broker opined. BYD's overseas sales were responsible for 21% of its total wholesale volume in 5M25, up from 10% in 2024. The brand competes in overseas markets not on price but on brand strength and product quality, in the broker’s opinion. South America, ASEAN, Europe, and the Middle East are key markets for BYD, which is accelerating the construction of its factory in Thailand, expected to commence production in Brazil by year-end, and building its European factory in Hungary. AASTOCKS Financial News Website: www.aastocks.com |
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