Streetbeat News

BYDDF

BYD Co

http://www.byd.com/

Industry

Automobile Manufacturing

Open

35.50

Mkt cap

109B

Volume

111

High

35.50

P/E Ratio

21.59

52-wk high

42.00

Low

35.40

Div yield

0.01

52-wk low

21.80

Charlie Munger, vice-chairman of Berkshire Hathaway, expressed concerns about the aggressive nature of the auto industry, particularly with the rise of electric vehicles. He mentioned his investment in BYD, a Chinese battery maker and major player in the EV market, which he persuaded Warren Buffett to acquire a 9.9% stake in 2008. Despite his admiration for BYD and its CEO, Munger admitted the company's aggressive strategies make him nervous.

Portfolio Pulse from Benzinga Neuro

November 02, 2023 | 4:41 am

BYD Company Limited reported Q3 2023 earnings that beat analyst expectations, with sales of 162 billion RMB ($22.1 billion), a 38.49% improvement YoY, and net profit of 9.7 billion RMB, up 81% YoY. Despite the strong performance, HSBC cut its price target for BYD by 4% due to increased A-share and H-share spread, but maintained its Buy rating. HSBC also predicts Q4 earnings will rise and forecasts an additional increase in earnings growth of 7-16% for the 2023-2025 period.

Portfolio Pulse from Daniel Harrison

October 30, 2023 | 5:52 pm

Nio Inc (NYSE:NIO) has seen a significant decline in its market capitalization due to increasing competition, price wars, and an overall decline among Chinese stocks. Despite this, Wall Street analysts predict a potential upside of 90% - 160% from the company’s present price. Nio reported a year-on-year increase of 43.8% in EV deliveries in September and a 75.4% improvement year-on-year for the third quarter overall. However, the company's profit margins are uncertain due to the price war between EV makers. Nio raised $1 billion last month, half of which was used to redeem future-dated loan notes and save the company on future interest payment costs.

Portfolio Pulse from Daniel Harrison

October 30, 2023 | 3:57 pm

Fitch Ratings reports that rising regulatory risks in the EU may hamper the strategy of some global automakers to sell China-made new energy vehicles in the region. This could affect companies like BYD Co Ltd (BYDDF), iShares China Large-Cap ETF (FXI), Li Auto Inc. (LI), NIO Inc. (NIO), Tesla Inc. (TSLA), Vanguard FTSE Europe ETF (VGK), and XPeng Inc. (XPEV).

Portfolio Pulse from Charles Gross

October 30, 2023 | 10:19 am

Chinese EV makers saw a rise in their stock prices after Tesla scrapped a discount on its Model Y in China. Xpeng, Li Auto, and Nio saw increases of 4%, 3%, and 2% respectively. Tesla's move is seen as a step towards profitability in the Chinese market, where it competes with these companies. This comes after Tesla's Q3 earnings fell short of expectations, with a 32.8% MoM sales decline in China. Meanwhile, BYD, another competitor, expects to increase its net profit by 67% to 102% in Q3.

Portfolio Pulse from Daniel Harrison

October 27, 2023 | 4:05 pm

Warren Buffett-backed electric vehicle maker BYD Manufacturing Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) has been outperforming Tesla, Inc. (NASDAQ:TSLA) in China in terms of sales. California Governor Gavin Newsom praised BYD's ultra-luxury Yangwang U8 extended-range EV during a visit to China. BYD sold 286,903 new energy vehicles in September, compared to Tesla's 74,073 made-in-China vehicles. BYD expects its Q3 profits to increase by 67%-102% YoY due to strong sales and effective cost controls.

Portfolio Pulse from Shanthi Rexaline

October 25, 2023 | 6:10 am

This week's top China tech stories include EHang Holdings Ltd. partnering with local government Hefei to build flying cars, AI start-up Baichuan receiving $300 million in funding from investors including Alibaba, Tencent, and Xiaomi, Baidu's Ernie chatbot advancing in AI terms, Chongqing Changan Automobile Co. Ltd. investing in a new-energy vehicle manufacturing plant in Thailand, and J&T Global Express Ltd. raising $501 million for a listing on the Hong Kong Stock Exchange.

Portfolio Pulse from Daniel Harrison

October 20, 2023 | 1:58 pm

Hong Kong and China stocks fell due to poor economic data from the housing and financial sector. China's housing prices fell the fastest in 11 months, and investment in the housing sector plunged 9.1% in the first 9 months of this year. Country Garden Holdings Limited (OTC:CTRYF) defaulted on US dollar bonds, and its stock fell 3%. Other property firms like China Evergrande Group (OTC:EGRNQ) and Sunac China Holdings Limited (OTC:SNCNQ) also saw their stocks fall. Alibaba Group Holdings Limited (NYSE:BABA), Tencent Holdings Ltd (OTC:TCEHY), and JD.com Inc (NASDAQ:JD) fell due to a larger credit rout. Bank of China Ltd. (OTC:BACHF), China Construction Bank Ltd (OTC:CICHF), and HSBC plc (NYSE:HSBC) fell due to potential LGVF defaults. EV makers like Nio Inc (NYSE:NIO), XPeng Inc. (NYSE:XPEV), and Li Auto Inc (NASDAQ:LI) fell due to disappointing earnings from Tesla Inc (NYSE:TSLA).

Portfolio Pulse from Daniel Harrison

October 19, 2023 | 5:36 pm

NIO Inc's shares are trading lower due to strong sales numbers from its China-based EV competitor, BYD Co Ltd. BYD delivered 286,903 vehicles in September, a 40% YoY increase, while Nio delivered 15,641 vehicles. BYD also expects a surge in net income this quarter due to record sales. Nio lost about $35,000 per vehicle last quarter as it continues to invest in R&D.

Portfolio Pulse from Adam Eckert

October 18, 2023 | 4:14 pm

Despite the bearish sentiment on Chinese consumer stocks, some investors believe that Alibaba Group Holding Limited (BABA), Tencent Holdings Limited (TCEHY, TCTZF), and JD.com (JD) might be oversold. This comes after new data shows that the Chinese economy is rebounding better than expected. Major banks have revised down price targets for these companies, but recent data shows growth in the Chinese economy and retail sales rebounding more than expected. Some analysts believe that the Chinese economy could bounce back significantly higher by the end of the year due to increased government stimulus efforts.

Portfolio Pulse from Daniel Harrison

October 18, 2023 | 2:56 pm

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