HSBC: BYD launches new car models to support the increase in domestic market share.

HSBC analysts stated in a report that BYD's updated product portfolio and the launch of new models may support its market share recovery in the domestic market and improve its product portfolio. They added that, considering that most new models are priced at 150,000 yuan and above, the ramp-up in production of these upcoming models should further improve the overall product portfolio. The rising cost pressures may put pressure on the profit margins of car manufacturers in the first quarter. They mentioned that despite this, BYD focuses on providing consumers with high-value features while streamlining less noticeable elements, which may offset the impacts of rising costs. HSBC maintains a buy rating on the stock, citing that its technological upgrades and newly launched product portfolio are expected to boost sales and product portfolio starting from March, while its overseas business remains stable and profitable.