CICC research reports point out that byd company limited (002594.SZ) Tang Z9GT is heavily listed, with the entire series equipped with easy triple high-level intelligent driving, technology reshaping luxury GT. The intelligent driving capability continues to improve, with the first release of BAS 3.0+, the world's first "vehicle-to-end intelligent electric fusion" model. The company will usher in a year of new technologies and products in 2024. With the support of DM5.0 and e 4.0 platforms, the dynasty ocean network will undergo redesign and upgrade, continuously enhancing product strength to secure a foothold in the mainstream market. Tang, Look Up, and Equation Leopard models have a rich reserve, accelerating the layout in the high-end market. Continuous efforts in going global, overseas channels and vehicle matrix will be further improved. With the support of economies of scale, as going global and high-end volume increase, profit ability is expected to remain high, unafraid of competitive impact. It is expected that the company's net income attributable to shareholders in 2024-2026 will be 38.5, 51.1, and 65 billion yuan, corresponding to PE ratios of 19.3X, 14.6X, 11.5X, maintaining a "buy" rating.