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Automakers Earnings Reports season | Revenue hitting a record high, net profit closing in on Tesla. BYD enters a period of intensive product launches after achieving its best Earnings Reports ever.
① BYD's total revenue for the full year of 2024 reached 777.102 billion yuan, a year-on-year increase of 29.02%; the net income attributable to shareholders of the listed company reached 40.254 billion yuan, a year-on-year increase of 34%. ② In 2024, BYD's cumulative sales reached 4.2721 million vehicles, a significant year-on-year increase of 41.26%. ③ BYD's debt-to-asset ratio for 2024 was 77.55%, slightly down from the end of the previous year.
Zijin Mining Group Chairman Chen Jinghe discusses acquisition strategy. High-value projects still exist in the Industry despite high positions | Coverage of the Earnings Conference.
① Chen Jinghe believes that, despite the current high running levels in the Industry, there are still projects with good cost performance; ② Chen Jinghe explained the company's merger strategy from four aspects.
Brokerage Morning Meeting Highlights: Focus on low positions + resilience in the economic outlook during the consolidation period.
At today's Brokerage morning meeting, HTSC believes that the solidifying period should focus on low positions and resilient market directions; Everbright stated that downstream demand for organic silicon is steadily increasing, and the supply-demand pattern in the Industry is expected to improve; GTJA proposed that the enthusiasm for the Spring Sugar Hotel Exhibition has decreased, and the sales of Baijiu after the festival are stable.
Zijin Mining Group's revenue has exceeded 300 billion, achieving a historic high. Chen Jinghe: There should be a mindset of preparation for "winter" | Interpretations
① In 2024, Zijin Mining Group's net profit increased by more than 50% to reach 32.051 billion yuan, with revenue exceeding 300 billion yuan for the first time; ② The company's Director, Chen Jinghe, emphasized the need to be prepared for 'winter' in terms of mindset.
Autonomous driving battle: BYD's price "weapon" vs Tesla's "difficult" problem.
Barclays believes that although Tesla has a leading position in autonomous driving technology, it faces dual challenges from regulatory oversight and market competition in China.
Morgan Stanley discusses BYD's "5-minute supercharge": It is time to break through the biggest bottleneck in the popularization of electric vehicles.
Morgan Stanley maintains a "hold" rating on BYD, while expecting the annual penetration rate of new energy Autos in China to reach 50% this year and 75% by 2030. However, the deployment timeline of BYD's new technology, its impact on Battery life, and the cost gap with the existing 800V platform remain uncertain.
Daring Lu : China is the next Super power.