Intelligence Financial APP learned that Goldman Sachs released a research report stating a "buy" rating for BYD Company Limited (01211) with a target price of HK$359. The company is beginning to enter overseas markets with highly competitive and innovative products, and the bank expects these products to be the second growth driver, contributing 31% of the automotive sales volume growth from 2022 to 2030.

The report points out that with the support of subsidies for trading in old cars for new ones, the market demand for autos is recovering. BYD's management expects that fourth-quarter pricing competition in 2024 will be moderate compared to the same period last year. BYD will launch four new high-end models next quarter and will continue to prioritize high-end production. In addition, the group plans to accelerate the development and installation of ADAS functions for the popular market brands (Dynasty and Ocean series) next year.