The bank believes that BYD's three main sales benchmarks in April (wholesale/domestic retail/export) should record month-on-month growth.
According to the Zhito Finance APP, Citigroup released a Research Report stating that BYD (01211) had a Net income of 9.16 billion yuan in the first quarter, a year-on-year increase of 100%, meeting market expectations.
The bank expects that the second quarter shipment volume will increase by 25 to 35% quarter-on-quarter, reaching at least 1.25 million units. After excluding BYD Electronics' profits, the bank estimates that BYD's single-vehicle Net income for the first quarter is about 8,733 yuan and expects that the single-vehicle Net income will stabilize at around 9,000 yuan in the first half of the year.
The bank believes that BYD's three main sales benchmarks in April (wholesale/domestic retail/export) should all record month-on-month growth. Citigroup maintains BYD as its "industry preferred".
As of now, it has dropped by 4.18%, to HKD 380.4 per share.
Editor/Lee
