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<Research>Citi Expects BYD's Mar Domestic/ Foreign Sales to Expand MoM; Destocking Before New Product Cycle
Citi Research's report wrote that BYD COMPANY (01211.HK) charted an automobile insurance registration volume of approximately 87,300 units in February, down 16.5% MoM, similar ...
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<Research>Citi Expects BYD's Mar Domestic/ Foreign Sales to Expand MoM; Destocking Before New Product Cycle
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Citi Research's report wrote that BYD COMPANY (01211.HK)  -0.800 (-0.764%)    Short selling $1.06B; Ratio 98.115%   charted an automobile insurance registration volume of approximately 87,300 units in February, down 16.5% MoM, similar to the domestic wholesale sales volume of about 89,600 units, reflecting overall stable inventory levels among domestic dealers.

Entering March, the broker estimated BYD's export and domestic sales to expand MoM, aggregating approximately 220,000-250,000 units. The broker believed the company is likely to choose to destock in March and April and control production before the next round of the new product cycle begins in mid-April.

Related News Daiwa Lowers BYD (01211.HK) TP to HKD130, Maintains 'Buy' Rating
Regarding products, the company recently launched the Fangchengbao "Leopard 3" (with new battery and ultra-fast charging), which Citi expected could reach monthly sales of 8,000-9,000 units once mature. Separately, the "Leopard 7" will be officially launched in April. The broker assigned BYD a target price of HKD174 and a Buy rating.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)

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