HK Stock Market Move | BYD COMPANY (01211) rises more than 3% in the afternoon, Citigroup expects BYD Company Limited's megawatt flash charging to lead the market by at least six months.

BYD COMPANY (01211) rose more than 3% in the afternoon, up 3.12% at the time of writing to HK$97.65, with a transaction volume of HK$3.571 billion. On the news front, on March 5th, BYD Company Limited officially released the second generation blade battery and flash charging technology, setting a new global record for the fastest charging speed in mass production. Charging from 10% to 97% only takes 9 minutes. The energy density of the second generation blade battery is increased by 5% compared to the first generation, and the range of the BYD Tang Z9GT equipped with this battery reaches 1036 kilometers. Citi released a research report stating that advanced battery and charging capabilities require systematic technological advances that are not easily replicated by competitors, estimating that it could give BYD Company Limited at least six months of market lead time. Building super-fast charging infrastructure can strengthen BYD Company Limited's brand competitiveness and generate spill-over effects, with the bank believing this investment is worthwhile. With its advanced super-fast charging technology, BYD Company Limited is expected to focus on high-end brands this year.