Zhong Guo Jing Ying Bao·2025-05-22 05:34Core Insights - BYD, a leading Chinese electric vehicle manufacturer, has reached new heights in the capital market, with its A-shares surpassing 400 CNY per share and its Hong Kong shares reaching 462.6 HKD per share, marking a significant milestone in its market performance [1][3] Group 1: Market Performance - BYD's A-shares hit a record high of 404.0 CNY per share on May 21, while its Hong Kong shares saw a daily increase of 4.05% [1] - The inclusion of BYD in the Hang Seng Tech Index on May 16 signifies a shift in market perception, recognizing BYD as a technology company rather than just a car manufacturer [3] Group 2: Technological Advancements - BYD has consistently invested in research and development, with R&D expenditures exceeding net profits for 13 consecutive years, employing over 120,000 R&D personnel [4] - The company's self-developed technologies, such as "Tian Shen Zhi Yan" and "Yun Nian," represent cutting-edge advancements in the global electric vehicle industry [4] Group 3: Brand and Market Positioning - The inclusion in the Hang Seng Tech Index is expected to attract over 15 billion HKD in passive funds, enhancing BYD's market valuation and brand image as a technology leader [5] - BYD's brand value has increased by 43.6% year-on-year, ranking sixth among global automotive brands with a value of 14.4 billion USD [6] Group 4: Global Expansion - BYD's global sales of electric vehicles are projected to reach 4.27 million units in 2024, with exports increasing by 72.3% [8] - The establishment of BYD's European headquarters in Budapest, Hungary, marks a strategic move towards localizing operations and enhancing technological collaboration [10]