Zhong Guo Ji Jin Bao·2025-06-06 14:16Core Viewpoint - BYD is focusing on two critical areas: brand premiumization and internationalization, as highlighted during the 2024 annual shareholder meeting [2] Group 1: Electric and Intelligent Development - The transition from the first half of electrification to the second half of intelligence is ongoing, with BYD acknowledging that there are still shortcomings in the electrification phase [4] - Key issues such as slower charging speeds compared to refueling and battery performance in low temperatures need to be addressed to fully replace fuel vehicles [5] - Safety is emphasized as the top priority in intelligent driving, with significant potential for future advancements in algorithms and sensor integration [5] - BYD plans to introduce major core technologies annually over the next three years, aiming to tackle significant challenges at each launch [5] Group 2: Market Strategy and Supply Chain - In response to concerns about price wars and supply chain issues, BYD's management asserts that they will not engage in price wars but will focus on technological innovation and efficiency to deliver value to users [6] - The company is reducing the number of suppliers while increasing procurement volumes from selected suppliers to enhance competitive advantages [6] Group 3: International Expansion - BYD is accelerating its global expansion, having entered markets such as Kazakhstan, Serbia, and Switzerland, with expectations for strong overseas sales this year [7] - The company reported approximately 90,000 units sold overseas last month, with a positive outlook for continued growth in international markets [7] Group 4: Brand Strategy and Challenges - Concerns were raised regarding BYD's brand marketing strategy, with a need for better emotional connections with consumers [8] - The company acknowledges its shortcomings in marketing and aims to improve brand perception by enhancing customer service and channel management [9] - BYD recognizes the importance of high-end market performance and is committed to addressing challenges in its premiumization strategy [9] - The company has identified brand premiumization and internationalization as two key areas for future focus, leveraging technology as a core component of its strategy [9] Group 5: Financial Overview - As of June 6, BYD's A-shares closed at 359.96 CNY per share, with a market capitalization of 1,105.2 billion CNY [10]