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<Research>Citi Names BYD COMPANY, GEELY AUTO as Top Picks; Rapid Rise in NEV Sales Penetration Favors CN Auto Leaders
After scrutinizing Thinkercar's weekly wholesale data (domestic plus exports), Citi found that BYD COMPANY (01211.HK) recorded a 3% MoM rebound in average daily shipments in th...
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<Research>Citi Names BYD COMPANY, GEELY AUTO as Top Picks; Rapid Rise in NEV Sales Penetration Favors CN Auto Leaders
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After scrutinizing Thinkercar's weekly wholesale data (domestic plus exports), Citi found that BYD COMPANY (01211.HK)  -1.700 (-1.732%)    Short selling $536.44M; Ratio 25.283%   recorded a 3% MoM rebound in average daily shipments in the first 26 days of April, outperforming the overall industry's 5.8% MoM decline. Performance in the past week also improved significantly from the roughly 18% MoM drop seen in the first 19 days of April.

Data also showed that GEELY AUTO (00175.HK)  +0.360 (+1.693%)    Short selling $259.49M; Ratio 23.083%   posted a 17% MoM increase in average daily shipments over the same period, substantially outperforming peers.

Related NewsBYD COMPANY Sags 2.8%; Citi Estimates Jun Sales Must Reach 383K Units to Achieve Positive YoY Growth
The sales penetration rate of new energy vehicles (NEVs) rose sharply in both export and domestic markets, which the report stressed should benefit leading domestic automakers and further erode the market share of joint-venture brands in 2H26.

Citi's top picks include BYD COMPANY, GEELY AUTO, LEAPMOTOR (09863.HK)  +0.340 (+0.758%)    Short selling $85.41M; Ratio 15.878%   , and NIO-SW (09866.HK)  -0.680 (-1.361%)    Short selling $61.69M; Ratio 33.556%   . BYD COMPANY's rating remains Buy, along with a target price of HKD142.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-15 16:25.)

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