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2026-09-15 10:45:14 BYD COMPANY (01211.HK)'s ultra-fast charging ecosystem will become a new source of revenue growth, Citi mentioned in a research report. Gross margin was forecast to reach 63% and 59% in 2027 and 2030 respectively, while net profit margin was expected to reach 20% and 12%. By 2030, the ecosystem may contribute approximately RMB21.6 billion in net profit, with revenue expected to reach RMB177.9 billion. The broker also forecast that every 1% increase in BYD COMPANY's NEV market share could reduce R&D and depreciation and amortization costs per vehicle by 2.6%, increasing net profit per vehicle by RMB881, equivalent to an additional net profit increase of about RMB5.3 billion in 2027. In addition, the broker assumed policy planning for intelligent connected NEVs under China's 15th Five-Year Plan to promote industry consolidation, benefiting leading automakers through improved operating leverage and lower costs. It noted that concentration in domestic ICEV, BEV, PHEV and EREV segments has already risen, and intense price wars are no longer a reasonable strategy. Citi gave a Buy rating on BYD COMPANY H shares with a TP of HKD142. ~ AASTOCKS Financial News Website: www.aastocks.com | |