Hong Kong Concept Tracking | BYD Company Limited Takes Full Control of Tenshi Automobile, Institutions Raise BYD Company Limited's Full-Year Sales Forecast (Including Concept Stocks)

According to Tianyancha, recently, Shenzhen Tengshi New Energy Automobile Co., Ltd. has undergone multiple changes: BYD Company Limited's shareholding in the company has increased from 90% to 100%, Mercedes-Benz Investment Co., Ltd., which originally held 10% of the shares, has exited, and former director Hans Georg Engel has also exited. At the same time, Tengshi Automobile has officially changed from a "foreign-funded company" to a "corporation", with its market entity type changing from "Sino-foreign joint venture" to "sole proprietorship". This also means that Tengshi Automobile has officially become a wholly-owned brand of BYD Company Limited. Tengshi is a luxury brand under BYD Company Limited. After fully controlling Tengshi, BYD Company Limited may have a more precise grasp of market demand and launch more high-quality vehicle models that meet consumer needs. It is reported that Tengshi has integrated BYD Company Limited's independently developed intelligent electric fusion technologies such as Easy Three, Tian Shen Zhi Yan, Yunlian, and DiLink. This year, Tengshi has adopted a dual-channel model of self-operation and dealers, with over 380 direct-operated stores nationwide, covering more than 100 cities. It is understood that besides fully acquiring Tengshi, BYD Company Limited does not rule out the possibility of further cooperation with Mercedes-Benz in other sectors in the future, exploring other cooperation opportunities in the field of new energy vehicles. Wang Chuanfu emphasized that the strategic development of Tengshi will be led by BYD Company Limited with support from Mercedes-Benz. BYD Company Limited will be responsible for the strategic planning of the Tengshi brand, especially in areas such as technology research and development, product planning, providing comprehensive and strong support for Tengshi. In addition, BYD Company Limited will shape the Tengshi new luxury product matrix from vehicle design, performance calibration, to polishing of internal and external details. Each product line of Tengshi will benefit from the "technology big fish pond" of BYD Company Limited, including the e-platform 3.0, DM-i super hybrid technology, "sandwich" structure blade batteries, etc. BYD Company (01211): In the first half of the year, the company achieved total operating revenue of 301.13 billion yuan, a year-on-year increase of 15.8%. It achieved a non-net profit attributable to the parent of 12.32 billion yuan, a year-on-year increase of 27.0%. It is in line with market expectations. On September 11, BYD Company Limited disclosed an announcement of senior management and core personnel increasing their shareholdings in the company. Morgan Stanley released a research report stating that BYD COMPANY (01211.HK) management indicated that the annual sales target is 4 million vehicles, compared to the previous target guidance of about 3.6 million vehicles, which means monthly sales of approximately 418,000 vehicles from September to December, compared to 373,000 vehicles in August. Management believes that the sales and profit growth in the second half of the year mainly depend on the DM-i 5.0 model, which is equipped with higher specifications compared to the DM-i 4.0 model, including the 2025 Song Plus model, which will be sold at a higher average price.