Streetbeat News

BYDDY

BYD Co

http://www.byd.com/

Open

67.72

Mkt cap

110B

Volume

46K

High

67.93

P/E Ratio

21.07

52-wk high

83.67

Low

67.45

Div yield

0.01

52-wk low

43.62

BYD Company Limited reported its highest ever quarterly profit for Q3, outperforming Tesla Inc. Li Auto, XPeng, and Nio also recorded delivery records in October. Li Auto aims to become the top-selling luxury brand in China, with sales rising 664% YoY in August. XPeng, backed by Volkswagen, delivered a record 20,002 units in October, a 292% YoY growth. Nio reported a 59.8% YoY growth in October deliveries.

Portfolio Pulse from Upwallstreet

November 01, 2023 | 4:26 pm

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

Ford Motor (NYSE:F) reported Q3 profit of $1.2 billion, up from a loss of $827 million YoY, with revenue increasing 11% to $44 billion. However, its EV unit lost $1.3 billion, double the loss from the previous year. Ford also reached an agreement with the UAW, which will cost the company $8.1 billion in new plant investments and other economic costs. This has led Ford to withdraw its 2023 guidance and postpone $12 billion in EV investment. The company's position is further weakened against Tesla (NASDAQ:TSLA), which also faces challenges from Chinese competitors BYD (OTC:BYDDY), Xpeng (NYSE:XPEV), Li Auto (NASDAQ:LI), and Nio (NYSE:NIO).

Portfolio Pulse from Upwallstreet

October 30, 2023 | 5:11 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

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

Chinese EV battery maker CATL is closing in on LG as the world's top EV battery supplier, with its market share increasing significantly. The company powers Tesla and NIO's product lines and expects to triple its profits in Q3. Despite having no international stock market presence, CATL is on track to become the largest global supplier of EV battery parts. The company has seen a 111% jump in battery supplies, mostly to Tesla, Nio, Mercedes-Benz, Volvo, and SAIC Motor Corp. CATL is also in talks with Hyundai and Kia for potential deals.

Portfolio Pulse from Daniel Harrison

October 19, 2023 | 5:46 pm

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

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

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