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<Research>CLSA: BYD COMPANY-100 (01211.HK) Overseas/ High-end Mkt Growth Prospects Liked
Recommend 20 Positive 38 Negative 3 |
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Last week's market was active due to a wave of model cycles released by automakers, CLSA published a research report saying. NIO-SW (09866.HK)'s renewed ES8 received strong order volumes, while GEELY AUTO (00175.HK)'s Geely Galaxy also launched the M9 last week. However, the broker believed that the Geely Galaxy M9 avoided direct competition with the ES8 due to differences in price range and powertrain. CLSA believed that LI AUTO-W (02015.HK)'s new i6 this week will test the company's ability to achieve scale with its newly launched products, as the SUV market is about to become more crowded. BYD COMPANY-100 (01211.HK)'s total orders last week amounted to 82,000 units, down 8% from the previous week, CLSA added. However, the broker believed that BYD COMPANY-100's orders will continue to grow, benefiting from facelifts and its new model cycle, enhancing cost-effectiveness. CLSA projected BYD COMPANY-100's vertical integration model to provide greater flexibility in an increasingly fierce price war environment, and was optimistic about its clear overseas and high-end market growth prospects. The latest ratings and target prices of the sector are listed in a separate table. AASTOCKS Financial News Website: www.aastocks.com |
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