East Asia Securities released a research report stating that it gives BYD Company (01211) a "Shareholding" investment rating, with a Target Price of 310 Hong Kong dollars, equivalent to a 2025 earnings per share of 16.2 yuan, and a PE of approximately 17.7 times.
The bank expects that BYD's New energy Fund will maintain a relatively high growth in sales by 2025, mainly due to the rollout of new cars with the fifth generation DM technology and the continued rapid increase in overseas sales contributions. At the same time, as sales and production increase leading to economies of scale, the proportion of high-end model sales is expected to rise, and the implementation of intelligent driving applications will help increase prices, estimating its gross margin will remain above the industry average level.