January third$BYD COMPANY (01211.HK)$It continued to rise in the afternoon, and as of press time, the stock rose more than 4% to HK $200.8, with a turnover of HK $1.506 billion.

On the news, BYD announced that sales of new energy vehicles reached 235000 in December, up 2% from a month earlier, a monthly high. The company sold 1.86 million vehicles in 2022, up 209% from the same period last year, and the annual sales target completion rate exceeded 120%. In addition, BYD Motor decided to formally adjust the official guidance price of relevant models from January 1, 2023, ranging from 2000 yuan to 6000 yuan.

According to a research report released by Anxin Securities, the proportion of BYD's high-end models increased steadily in December, with the Song family selling more than 70,000 vehicles. It is believed that the price increase policy is expected to drive higher-than-expected growth. BoCom International believes that the company's strong performance in the plug-in hybrid market segment and mid-range new energy vehicles can ensure its sales growth in 2023. It is also expected that overseas layout may also be another key driver of sales growth in 2023.