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Global Autos trade is facing a dark moment as Trump announces the imposition of the highest 25% tariffs on imported Autos.
① The President of the USA, Trump, announced that a maximum tariff of 25% will be imposed on all cars not manufactured in the USA; ② The tariffs will take effect on April 2 and will start to be collected the next day; ③ Most Auto Manufacturers' stock prices fell in after-hours trading, with Ford Motor down over 4% and General Motors down over 5%; ④ Canada and the EU have both responded.
BYD's Q4 Net income increased by 73.1% year-on-year, reaching a new high, proposing a distribution of 39.74 yuan per share | Earnings Reports insights.
BYD's sales last year exceeded 100 billion USD for the first time in history, surpassing Tesla; the sales of pure electric vehicles reached 1.76 million units for the year, slightly lower than Tesla, while the total sales of cars, including hybrids, reached 4.272 million units, a year-on-year increase of 41%.
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.
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.
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.
