Citigroup: Maintains "Buy" Rating on BYD Company (01211) with a Target Price of 500 Hong Kong Dollars.

Citi has released a research report stating that BYD COMPANY (01211) will integrate the advanced driver assistance system (ADAS) function "God's Eye" into car models priced as low as 78,800 RMB, making it a standard configuration for models priced between 100,000 to 150,000 RMB. The bank predicts that the increasing penetration of ADAS will help to recover its orders. They maintain a "buy" rating and a target price of 500 Hong Kong dollars. The report also mentioned that the increasing penetration rate of Dipilot 300 and Dipilot 600 will have a positive impact on Heisei Technology. At the same time, they believe that this will also be beneficial for competitors using EM-i technology. As the average selling price of similar models from competitors is lower, at around 10,000 RMB, they may introduce free ADAS functions.