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<Research>CLSA: BYD COMPANY (01211.HK) Economies of Scale Hard to Challenge; Advantages to Be Further Strengthened
Recommend 9 Positive 17 Negative 8 |
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CLSA released a research report seeing 2 emerging trends that will reshape the landscape of China's EV market, naming the polarization of buyers' focus between mass market cars and cars priced above RMB200,000 and the closing of the window of growth for newcomers. Hence, it will ultimately be a “winner-take-all” game. Despite its already high market share, the broker noted that BYD COMPANY (01211.HK)'s economies of scale are hard to challenge, and expected its continued release of new technologies and strong new vehicle cycle to further solidify its advantage. The recent drop in orders suggests intensified competition in coming months. CLSA maintained its target price at $483 for BYD COMPANY's H-shares, and kept rating at High Conviction Outperform. AAStocks Financial News |
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