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<Research>Citi: BYD COMPANY (01211.HK) 'Megawatt Ultra-fast Charging' Expected to Lead Mkt by at Least 6 Mths; Rating Buy
Recommend 13 Positive 28 Negative 5 |
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Citi Research issued a research report saying that it experienced BYD COMPANY (01211.HK)'s 'megawatt ultra-fast charging' in Shenzhen, and summarized key points from expert conference calls and investor feedback. The broker believed that advanced battery and charging capabilities require systematic technological advancements that are not easily replicated by peers, estimating that this could provide BYD COMPANY with at least a 6-month market lead. The construction of ultra-fast charging facilities can enhance BYD COMPANY's brand competitiveness and produce spillover effects, making this investment worthwhile according to the broker's view. Citi Research anticipated that the Company is unlikely to initiate a price war this year, based on anti-involution policies and the potential negative impact of price cuts on the brand. With advanced ultra-fast charging technology, BYD COMPANY is expected to focus on premium brands this year. Therefore, the broker kept rating at Buy on BYD COMPANY's H-shares, with a target price of $174. AASTOCKS Financial News Website: www.aastocks.com |
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