Zhixun Finance APP learned that Furui released a research report stating that BYD Company (01211) performed in line with expectations in the second quarter, with revenue and net income increasing by 26% and 33% year-on-year respectively; the gross margin was 18.7%, flat year-on-year, but dropped by 3.2 percentage points quarterly. Looking ahead to the second half of the year, with the better economies of scale from DM5.0 starting to take effect, coupled with strong order momentum from the upgraded scrappage policy, the bank expects the net income per vehicle to increase, and believes the company can achieve a target sales volume of 2.2 million vehicles in the second half of the year. The bank maintains a "buy" rating on the group, with the target price raised slightly from HK$300 to HK$303.