Reporter of the Economic Business: Li Xing Reporter of the Economic Business Business: Pei Jianru
After surpassing Volkswagen (VWAGY, stock price of US$22, market value of US$129.84 billion) on June 8, becoming the third largest car company in the world with market value, the total market value of BYD (SZ002594, stock price of 348.8 yuan, market value of 927.75 billion yuan) continued to rise.
htmlOn June 10, BYD A shares After the opening of , the total market value once exceeded 1 trillion yuan mark, becoming the first independent brand car company in A-shares to enter the trillion-yuan market value club.
Image source: Snowball
In the eyes of the outside world, the reason why BYD is favored by the capital market is closely related to the rapid increase in sales of its new energy vehicles and the intensive launch of new models and new technology products.
The latest production and sales report released by BYD shows that in May, BYD's new energy vehicle production and sales were about 118,100 and 114,900 respectively, an increase of about 270.02% and 250.44% year-on-year respectively. In the first five months of this year, BYD's new energy vehicles had a cumulative production and sales of about 513,100 and 507,300 respectively, with a cumulative year-on-year increase of 347.6% and 348.11% respectively.
The latest data from the China Passenger Car Association shows that in May, the wholesale sales of new energy passenger cars in China were 421,000. Among them, BYD accounts for nearly 27% of the proportion with a score of about 114,800 vehicles.
In this regard, Guotai Junan analyzed in its research report that after entering 2022, BYD's intensive new products to the market have brought it a large number of new orders. According to statistics, from February 19 to the present, BYD has launched a variety of models to the market, including Song MAX DM-i, Destroyer 05 Tengshi D9, 2022 Tang EV, etc.
At the same time, BYD also released DM-p hybrid technology, and Tang DM-p is the first model built based on DM-p technology. "The electrification process of the automotive industry is accelerating. Now it is not 'big fish eating small fish', but ' fast fish eating slow fish '. Only in the fast process can you overtake." BYD Chairman and President Wang Chuanfu publicly stated.
Image source: Image provided by the company
Official data shows that in May, BYD's plug-in hybrid models sold about 60,800 units, exceeding the pure electric models with sales of about 53,300 units. This year, the cumulative sales exceeded 250,000 units, a year-on-year increase of 582.88%. "This result shows consumers' recognition of BYD plug-in hybrid (DM-i) technology." Guolian Securities believes that the strong growth momentum of BYD plug-in hybrid models will continue in the second half of this year.
At the BYD 2021 Annual Shareholders Meeting held on June 8, BYD revealed to the public that the company's cumulative undelivered orders reached 400,000 units, and it is still increasing month by month.
Based on the good development trend of BYD's new energy vehicles, securities institutions have given high estimates on BYD's stock price and market value this year. For example, Guolian Securities predicts that BYD's reasonable market value in 2022 will be around 997.474 billion yuan, corresponding to a target price of 369.1 yuan; Guotai Junan raised its previous target price for A-shares from 371.2 yuan to 395 yuan.
BYD shares (HK01211, stock price of HK$315.8, market value of HK$346.748 billion) recently issued an announcement on the Hong Kong Stock Exchange that the company repurchased about 384,400 shares of BYD A shares on June 10, with the price range of the repurchase price range of RMB32.17 to RMB332.97 per share, and the cumulative transaction amount was approximately RMB126 million.
Cao He, president of Quanlian Automobile Investment Management (Beijing) Co., Ltd., believes that BYD's repurchase of 384,400 A-shares this time is a high repurchase. "In addition to the company's employee stock ownership plan launched by BYD, another purpose is to eliminate consumers' doubts about its sharp decline in its stock price in the early stage and boost consumer confidence." On June 10, Cao He said in a telephone interview with a reporter from " Daily Economic News " that this move has played a "booster" role in increasing BYD's impact in the secondary capital market.
htmlOn June 10, BYD's performance in in A-share market has exceeded securities expectations, and its market value once exceeded one trillion yuan. As of the close of the day, BYD's stock price rose by 8.56%, reaching 350 yuan per share.According to the latest market value, BYD A-share market value has surpassed the total market value of Ford (F, stock price of US$13.28, market value of US$53.382 billion, approximately RMB 357.291 billion) and General Motors (GM, stock price of US$36.65, US$53.445 billion, equivalent to approximately RMB 357.16 billion).
Image source: Tonghuashun
In addition to the sharp rise in BYD's stock price, the complete vehicle and industrial chain stocks also ushered in a big rise on June 10, with many stocks hitting the daily limit. For example, Xiaokang Shares (SH601127, stock price 71.52 yuan, market value of 97.263 billion yuan) and Haima Auto (SZ000572, stock price 6.29 yuan, market value of 10.345 billion yuan) hit the daily limit, and CATL (SZ300750, stock price 454 yuan, market value of 1058.206 billion yuan) rose by 5.25%.
Daily Economic News
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