share_log

研报掘金丨东吴证券：比亚迪7月销量符合市场预期，维持“买入”评级

Research Reports | Soochow Securities: BYD's sales in July meet market expectations, maintaining a buy rating.

Gelonghui Finance ·  Aug 5 03:14

According to the research report from Soochow Securities, BYD Company Limited (002594.SZ) sold 0.35 million vehicles in July, which was the same as the previous month, meeting the market expectations. Among them, the sales of plug-in hybrid passenger vehicles in July were 0.211 million, up 67% MoM and 8% YoY, accounting for 61.6%, up 13.4/+4.5pct MoM and YoY. Cumulative sales from January to July were 1.955 million, up 29%. The orders for Qin L and Hanbao 06 are sufficient, and there was previously a bottleneck in the production capacity of parts. It is expected to increase rapidly after August, and the Tang/Han series will be successively iterated before the end of the year, starting a new cycle of new vehicle models. The sales expectation for 2024 is 4 million, up 36%, including 0.45 million exports. Further increase of 50%+ is expected in 2025. The bank gives a target price of 327 yuan with a 25xPE in 2024 and maintains a "buy" rating.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment