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Research Reports Prospecting丨Tianfeng: Maintaining a 'buy' rating on BYD, with monthly sales exceeding 0.5 million vehicles
Gelonghui November 12 | Tianfeng Securities research reports pointed out that BYD (002594.SZ) broke through 0.5 million units in single-month sales in October, setting a new monthly sales record for Chinese vehicle companies and a new energy vehicle monthly sales record for global vehicle companies. Maintaining a "buy" rating. In October, BYD achieved sales of 0.503 million units, up by +66.5% year-on-year and +19.8% month-on-month, with cumulative car sales of 3.251 million units from January to October, up by +36.5% year-on-year, including passenger vehicle sales of 3.237 million units. Globalization is progressing smoothly, with cumulative overseas sales from January to October reaching 0.329 million units, up by +86.9% year-on-year. A-level SUV sales champion.
BYD (002594): Monthly sales exceeded 0.5 million vehicles, new product cycle + global expansion continues to exert force.
Event: BYD released the October production and sales quick report, selling a total of 0.503 million autos in October, a year-on-year increase of +66.5%. From January to October 2024, cumulative sales reached 3.251 million autos, a year-on-year increase of +36.5%.
Express News | Hunan Yuneng: achieved increased sales volume for Contemporary Amperex Technology and BYD.
Stocks of autos performed strongly in the morning, with dongfeng group soaring 13%, leading the way. The retail prosperity of autos in November is expected to continue to improve.
In October this year, the production of new energy passenger vehicles reached 1.379 million vehicles, a year-on-year increase of 49.9% and a month-on-month increase of 12.6%; wholesale sales reached 1.369 million vehicles, a year-on-year increase of 55.2% and a month-on-month increase of 11.2%.
According to reports, guangzhou automobile group (02238.HK) has withdrawn from the ranks of shareholders of guangzhou guangqi byd new energy passenger cars.
According to internal media reports, Tianyancha data shows that Guangzhou Guangqi BYD New Energy Passenger Cars recently underwent industrial and commercial changes, with Guangzhou Automobile Group (02238.HK) withdrawing from the shareholder ranks. At the same time, some key personnel have also undergone changes. Guangzhou Guangqi BYD New Energy Passenger Cars was established in August 2014, with Chen Daohong as the legal representative and a registered capital of 0.3 billion yuan. Its operation scope includes manufacturing of auto parts and accessories, design services for auto parts, car sales, wholesale of auto parts, electrical utilities installation engineering services, engineering and technical research and development, energy technology research, etc. Shareholder information indicates that the company currently
Express News | Guangzhou Automobile Group withdraws from the joint venture with BYD.
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