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<Research>CLSA: Exports of BYD COMPANY/GEELY AUTO Further Increase; Domestic Auto Sales Momentum Rebounds
Elevated oil prices may lead buyers to prefer EVs, particularly in overseas markets, according to a research report released by CLSA. Exports of BYD COMPANY (01211.HK) and GEELY AU...
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<Research>CLSA: Exports of BYD COMPANY/GEELY AUTO Further Increase; Domestic Auto Sales Momentum Rebounds
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Elevated oil prices may lead buyers to prefer EVs, particularly in overseas markets, according to a research report released by CLSA. Exports of BYD COMPANY (01211.HK)  -0.800 (-0.764%)    Short selling $1.06B; Ratio 98.115%   and GEELY AUTO (00175.HK)  +1.840 (+8.371%)    Short selling $755.34M; Ratio 54.606%   further increased in March, while YTD exports rose by 56% and 129%, respectively.

Meanwhile, it is understood that domestic sales momentum is also rebounding, especially in the mass market, with the sales volume of major automakers being 1.1 million units, down only 1% YoY.

Related News BOCOM International Raises BYD (01211.HK) TP to HKD138.53, Maintains 'Buy' Rating
Channel data shows that weekly sales of BYD COMPANY/ GEELY AUTO’s Galaxy/ LEAPMOTOR (09863.HK)  +1.750 (+3.415%)    Short selling $299.35M; Ratio 86.513%   increased by 10%/ 10%/ 100% WoW, respectively. The broker believed that momentum in the auto sector is improving, with orders recovering.

In terms of stock picks, CLSA favored BYD COMPANY and GEELY AUTO as key beneficiaries of export growth and resilient domestic sales, with target prices of $130 and $23 each, and ratings at High Conviction Outperform.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)

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