BYD's Launch of New Budget Models May Weigh on 2024 Profit -- Market Talk

Dow Jones06-19

0452 GMT - BYD's profit could be weighed by the launch of budget models this year, pushing average selling prices and revenue lower, HSBC Global Research analysts write. The carmaker's better operational efficiency may offset some of this pressure, they add. On the other hand, BYD's newly announced plug-in hybrid technology and a new car cycle in the compact and medium-size segments could help support sales, the analysts add. HSBC cuts its 2024 net profit forecast on BYD by 8%. The bank trims its H-share target price to HK$322 from HK$332 and the A-share target to CNY301 from CNY302, but maintains a buy rating. BYD's H-shares are last at HK$239.00 and the A-shares are at CNY254.93. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

June 19, 2024 00:52 ET (04:52 GMT)

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The carmaker's better ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0417516738.SGD","symbol_name":"Allianz Hong Kong Equity AT Acc SGD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2444414745","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2444414745","pubTimestamp":1718772720,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0452 GMT - BYD's profit could be weighed by the launch of budget models this year, pushing average selling prices and revenue lower, HSBC Global Research analysts write. 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The carmaker's better operational efficiency may offset some of this pressure, they add. On the other hand, BYD's newly announced plug-in hybrid technology and a new car cycle in the compact and medium-size segments could help support sales, the analysts add. HSBC cuts its 2024 net profit forecast on BYD by 8%. The bank trims its H-share target price to HK$322 from HK$332 and the A-share target to CNY301 from CNY302, but maintains a buy rating. BYD's H-shares are last at HK$239.00 and the A-shares are at CNY254.93. 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