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

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 economy showed signs of expansion in September, with the purchasing manufacturers index (PMI) rising to 50.2 and non-manufacturing activity climbing to 51.7. Despite this, investors remain concerned about the domestic property market. Overseas investors have sold around $5.2 billion in stocks this month, extending $12.7 billion in sales in August. However, fund managers forecast a rise of 21% for Hong Kong shares and gains of 8.4% for mainland stocks by year-end. Alibaba Group Holding Limited (NYSE:BABA), BYD Co Ltd (OTC:BYDDY), and Tencent Holdings Limited (OTC:TCEHY) are seen as potential bargains due to the sell-off and focus on tech by the Chinese government.

Portfolio Pulse from Daniel Harrison

October 02, 2023 | 4:53 pm

Despite a week-long sell-off in Hong Kong, six companies, including Tencent-backed Tuhu Car Inc. and AI firm Beijing Fourth Paradigm Technology Co., Ltd., listed on the Hang Seng Index, marking a rare moment of new listings activity. Mobile game operator ZX Inc. was 103 times oversubscribed, representing Hong Kong’s largest oversubscription this year. Tuhu Car, the fourth-largest IPO this year, plans to expand its business in China's growing EV market. Alibaba Group also announced it is spinning off its Cainiao Smart Logistics Network Limited subsidiary in a $1 billion IPO later this year.

Portfolio Pulse from Daniel Harrison

September 29, 2023 | 4:32 pm

Chinese EV maker BYD Co Ltd has entered into a service agreement with Cox Automotive to enhance the service experience for its truck customers in the US. The agreement covers BYD’s customers with class 6 and 8 trucks and includes 24/7 roadside support and EV-trained technicians. BYD has deployed over 85,000 heavy-duty battery electric vehicles globally, including 25,000 trucks.

Portfolio Pulse from Anan Ashraf

September 29, 2023 | 5:00 am

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

Hyundai Motor Co and Kia Corp plan to reduce the prices of several electric vehicles (EVs) in response to the South Korean government's decision to expand subsidies for clean vehicles. The price cuts, which will affect models such as the Ioniq 5, Ioniq 6, Kona EV, EV6, Niro EV, and Niro Plus, are set to begin next month and last until the end of 2023. This move could intensify the price competition in the South Korean automotive industry and potentially increase international tension surrounding EV pricing.

Portfolio Pulse from Shivani Kumaresan

September 26, 2023 | 11:39 am

Hong Kong-listed and Chinese companies are increasing stock buybacks and dividend payouts as their domestic markets remain depressed. This trend is expected to continue throughout the year. In 2022, Hong Kong stock buybacks amounted to $13.4 billion. The Hang Seng Index forecasts that the buyback trend will continue to over $90 billion of stock buybacks by year-end. Record dividend payouts by China’s biggest firms, including Bank of China Ltd. and PetroChina Co Ltd., have reached $206 billion so far this year. Among the Hong Kong companies buying back their shares are Yum China, Tencent, HSBC Holdings Plc., Hanison Construction Holdings Ltd., Bank of East Asia Limited, Cosco Shipping Development Co Ltd, Li Ning Co. Ltd. and Dongfeng Motor Co. Ltd.

Portfolio Pulse from Daniel Harrison

September 20, 2023 | 3:45 pm

Shell PLC has opened its largest electric vehicle (EV) charging station globally in Shenzhen, China. The station, a joint venture with Chinese EV major BYD Company, has 258 charging points and solar panels with an annual generation capacity of 300,000 kilowatt-hours. Shell operates about 800 EV charging stations throughout China.

Portfolio Pulse from Shivani Kumaresan

September 19, 2023 | 11:57 am

Chinese EV manufacturer BYD Co Ltd announced it has produced half a million BYD Yuan vehicles. This announcement comes as Tesla Inc reported the production of its five millionth car. The two companies are closely rivaling in the EV market, with BYD's new energy vehicles including both hybrid and battery electric vehicles, unlike Tesla which only makes BEVs. In Q2, Tesla delivered 466,140 cars while BYD sold 703,561 units.

Portfolio Pulse from Anan Ashraf

September 18, 2023 | 6:49 am

Tesla Inc (TSLA) shares soared 10% after Morgan Stanley analysts compared the potential of Tesla's Dojo to Amazon Web Services. The analysts believe that Tesla should be viewed as a tech company as much as an EV maker, and that the Dojo supercomputer could boost Tesla's market value by $500 billion. Tesla is also expanding its global footprint with a new gigafactory in Mexico, where it and its suppliers will invest $15 billion over the next two years. Meanwhile, Chinese EV maker Nio Inc (NIO) is set to launch a refreshed EC6 SUV.

Portfolio Pulse from Upwallstreet

September 12, 2023 | 3:28 pm

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