The stock price of Byd Company Limited(002594) with a market value of 700 billion yuan has increased nearly seven times since the end of 2019 with a cumulative maximum increase of , but the high correction is also very tragic. Since October last year, the stock price has been corrected nearly 40% from the historical high .
After hours today, Byd Company Limited(002594) announced that the net profit in the first quarter is expected to be 650950 million yuan, with a year-on-year increase of 174% – 300% . The announcement said that in the first quarter, the company’s new energy vehicle sales hit a record high , which led to a significant improvement in profits and hedged the profit pressure brought by the rise in the price of upstream raw materials to a certain extent.
According to the latest data of the Federation of passenger cars, in March this year, Byd Company Limited(002594) passenger car sales exceeded the threshold of 100000 + , surpassing the sales of Volkswagen brand cars under South / North Toyota and FAW Volkswagen respectively; In the first quarter, it also surpassed the 249000 vehicles of SAIC Volkswagen, 247000 vehicles of GAC Toyota and 212400 vehicles of GAC Honda with 291400 vehicles.
According to the public data, Tesla‘s annual sales volume in 2021 will reveal that in 2021, the full year sales volume of 930 million Tesla in 2021, with an annual annual sales volume of 9393million Tesla, becoming the global champion of new energy vehicle sales, and 123 7 .
Tianfeng Securities Co.Ltd(601162) analysts pointed out in the research report released by the principal on January 10 that new energy vehicles are in a period of rapid development . It is estimated that from 2020 to 2030, the annual compound growth rate of new energy vehicles in the three major markets of China, the United States and Europe will reach 22.5% / 36.7 / 19.7% respectively.
According to the research report released on April 11 by Prince Yue, an analyst at Ping An Securities, in 2022, with the increase of production capacity and the launch of new products, Tesla and Byd Company Limited(002594) are expected to further widen the gap with other OEMs , and further consolidate the leading position of new energy vehicles in the world, and supply chain and production capacity will become the key points to determine who will spend the world’s top new energy sales .
Although the sales volume of new energy vehicles in the first quarter of Byd Company Limited(002594) hit a record high, the highest expected net profit (950 million yuan) is 800 million yuan away from the highest in the third quarter of 2020 (1.75 billion yuan).
From the perspective of main business splitting, Byd Company Limited(002594) mainly produces rechargeable batteries and photovoltaic, mobile phone parts and assembly, automobile and related products.
Previously, Byd Company Limited(002594) released the annual report of 2021. The company achieved annual revenue of 246.1 billion yuan, a year-on-year increase of 38%, net profit attributable to parent company of 3.045 billion yuan, a year-on-year decrease of 2% . In early April, the company announced on its social media that will stop the whole vehicle production of fuel vehicles from March , and will focus on pure electric vehicles and plug-in hybrid vehicles. Last year, the sales of new energy vehicles accounted for more than 80% .
According to song Xinnan, an analyst of Hongta Securities Co.Ltd(601236) released a research report on April 15, Byd Company Limited(002594) is mainly due to the sharp rise in the price of raw materials led by lithium salt in the upstream . In addition, the high-volume models of in the second half of the year belong to , with low and medium price. Compared with the ” Byd Company Limited(002594) · Han” of the main sales force in 2020, the level is lower and the profit is relatively thin.
On the other hand, some insiders pointed out that in addition to the relatively easy problem of tight production capacity, Byd Company Limited(002594) new energy vehicles have a greater challenge from whether they can successfully realize intellectualization .
Shanghai Securities analyst Kai Wenming and others predicted in the research report released on April 2 that the net profit of Byd Company Limited(002594) 2022 will reach 10 billion, with a year-on-year increase of nearly 230% 2023 net profit growth narrowed significantly to 57% , estimated at 15.7 billion yuan.
