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

BYD Company Limited's shares jumped 7% after announcing it would report record quarterly earnings this month. The company expects net profits in Q3 to be between $1.3 billion and $1.4 billion, a 67% to 102% increase from last year. BYD's EV sales hit a record volume, and its handset components business performed well due to its partnership with Apple. Despite stronger overall performance, BYD is trading at a significant discount compared to rivals Tesla, XPeng, Li Auto, and Nio.

Portfolio Pulse from Daniel Harrison

October 18, 2023 | 1:17 pm

The Australian High Court has ruled against the state of Victoria’s taxes on Zero and Low-Emission Vehicles (ZLEVs), stating that only the federal government can impose excise duties. This decision could boost EV adoption in Australia, where EVs represented only 8% of new car sales in September. Tesla, BYD Co Ltd, Hyundai Motor, and Kia are popular EV makers in Australia. The ruling is also expected to deter other Australian states from introducing similar taxes.

Portfolio Pulse from Anan Ashraf

October 18, 2023 | 8:38 am

Chinese automaker BYD Co. (OTC:BYDDF), backed by Warren Buffett, expects a minimum 67% rise in its Q3 profit due to record electric vehicle sales. The company predicts a net profit of between $1.31 billion and $1.5 billion, a significant increase from $783 million reported in Q3 last year. BYD's total vehicle sales nearly doubled in the January-September period, with 2.08 million vehicles sold. BYD Electronic, a subsidiary, also anticipates a more than two-fold increase in its nine-month profit.

Portfolio Pulse from Benzinga Neuro

October 18, 2023 | 3:54 am

Short-selling activity in Hong Kong stood at HK$14.3 billion ($1.8 billion), or 22.9% of all shares traded. The top 3 shorted stocks were China Construction Bank Corporation (CICHY), AIA Group Ltd (AIAGY), and BYD Company Limited (BYDDF, BYDDY). CICHY was shorted due to rising non-performing loans, AIAGY due to potential exposure to real estate debts, and BYDDF/BYDDY due to fears of lower margins in the EV price war and selling pressure from shareholder Berkshire Hathway Inc (BRK-A).

Portfolio Pulse from Daniel Harrison

October 16, 2023 | 3:18 pm

Analysts predict a potential spike in the stock price of China's largest EV maker, BYD Company Limited (OTC:BYDDF) (OTC:BYDDY), due to rising sales, improving margins, and rapid overseas expansion. Despite underperforming compared to peers like Tesla Inc (NASDAQ:TSLA), XPeng Inc (NYSE:XPEV), and Li Auto Inc (NASDAQ:LI), BYD is seen as undervalued. The company's battery business, which supplies many EV manufacturers and holds 16% of the global EV battery market, has helped maintain profit margins over 18%. DBS Bank and Livy Investment Research have bullish outlooks for BYD, citing strong vehicle sales, a net cash balance of $8.4 billion, partnerships with companies like Apple Inc (NASDAQ:APPL), and a solid overseas market strategy.

Portfolio Pulse from Daniel Harrison

October 16, 2023 | 2:09 pm

NIO Inc's shares are trading lower due to strong sales numbers from China-based EV competitors. The China Passenger Car Association data shows that BYD Co, backed by Warren Buffett, is the biggest player in China, delivering 286,903 vehicles in September, up 40% YoY. Nio delivered 15,641 vehicles in September, with Q3 deliveries totaling 55,432. Nio lost about $35,000 per vehicle last quarter as it continues to invest in R&D. Nio shares are down about 16% since the start of the year.

Portfolio Pulse from Adam Eckert

October 09, 2023 | 5:35 pm

Tesla, Inc. (NASDAQ:TSLA) stock is facing headwinds in premarket trading due to geopolitical tensions and concerns over the Israel-Hamas conflict potentially disrupting oil supplies. The company's stock is also affected by a decrease in China sales and concerns over price cuts and delays in the launch of the Cybertruck. In premarket trading, Tesla declined by 1.65%, trading at $256.22.

Portfolio Pulse from Shanthi Rexaline

October 09, 2023 | 11:07 am

Analyst Dan Ives remains bullish on Tesla (TSLA) despite its current lackluster phase. He views the UAW strike as a win for Tesla, as it could lead to higher costs for Detroit automakers like General Motors (GM), Ford (F), and Stellantis (STLA), which could be passed on to consumers. Ives also believes Tesla will be able to absorb excess inventory by Q4 and that demand will increase with the start of Cybertruck production. He sees Tesla gaining market share in China and views the company as a disruptive technology company rather than just an auto company.

Portfolio Pulse from Shanthi Rexaline

October 04, 2023 | 7:19 am

China's property market turmoil continues to impact the stock market, with Country Garden Holdings and China Evergrande Group seeing declines. However, Sunac China Holdings managed to restructure its debt and saw a 1% increase. The Chinese government is planning to attract more investors by raising the foreign ownership cap on stocks and encouraging domestic travel to boost the economy. Despite the property market issues, investment managers are attracted to deep discounts in the consumer and tech sector in China, with stocks such as Alibaba, Baidu, and BYD Company Limited gaining attention.

Portfolio Pulse from Daniel Harrison

September 28, 2023 | 1:40 pm

Jabil Inc has agreed to sell its Mobility business to Chinese EV maker BYD Co., Ltd. for $2.2 billion. The business, which manufactures components for consumer electronics, is mainly located in China. The deal is expected to close within the first two-quarters of Jabil's FY24. The sale will allow Jabil to enhance its shareholder-centric capital framework, including incremental share buybacks, and provide opportunities for further investment in various sectors.

Portfolio Pulse from Lekha Gupta

September 27, 2023 | 10:58 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.