Citigroup: The export situation of Chinese passenger cars in the first four months is more favorable for BYD Co., Ltd. (01211.HK), with the target price raised to 727 Hong Kong dollars.

Zhtngcijng APP hu x, huq fb ynbo chng, zi 2 yu 15 r shng tio du b y d gfn (01211.HK) mbio ji zh 688 gng yun hu, rnwi jnnin shu s g yu zhnggu chngyngch chku de gj xinsh dub y d gngji yul. Gi hng jish, jngrn de chdinsh hnh dngl ch (PHEV) chku zngzhng shngwi chngwi shchng gngxin; by d chndindngch (BEV) chku shchng zhn yul cng 2023 nin de 23% df jis zh jnnin shu s g yu de 38%; d sn j zhnggu guni shchng de cuhu; j chy 2026 nin jingji de zuji wizh. Gi hng jing q mbio ji cng 688 gng yun shng tio zh 727 gng yun. According to the Wisdom Finance APP, Citigroup released a research report stating that after raising the target price for BYD Company Limited (01211.HK) to 688 Hong Kong dollars on February 15th, they believe that the current pattern of Chinese passenger car exports in the first four months of this year is more favorable for BYD. The bank explained that the impressive growth in plug-in hybrid electric vehicle (PHEV) exports has not yet become market consensus; BYD's market share of pure electric vehicles (BEV) has increased significantly from 23% in 2023 to 38% in the first four months of this year; the catalyst of the third quarter of the Chinese domestic market; and being in the best position for price reductions in 2026. The bank has raised its target price from 688 Hong Kong dollars to 727 Hong Kong dollars.