2 1 Shi Ji Jing Ji Bao Dao·2025-06-07 01:09Core Viewpoint - BYD's annual shareholder meeting saw increased attendance compared to last year, highlighting strong investor interest and confidence in the company [1] Group 1: Financial Performance - On May 23, BYD's A-share price reached 432.74 RMB per share, with a total market capitalization of 1.32 trillion RMB, while its Hong Kong shares surpassed 477.8 HKD per share, equating to approximately 1.33 trillion RMB [1] - BYD's total sales for 2024 are projected to reach 4.27 million units, significantly outpacing Tesla's 1.79 million units, although 80% of sales are concentrated in models priced below 200,000 RMB [4] Group 2: Strategic Direction - The company is focusing on high-end vehicle development as a critical strategy for future growth, with CEO Wang Chuanfu emphasizing that high-end positioning is a necessary battle to win [4][5] - BYD plans to launch its high-end brand Tengshi in Europe, indicating a strong commitment to international expansion alongside its high-end strategy [5] Group 3: Market Competition and Pricing Strategy - In response to industry-wide price wars, BYD's executives stated they would not engage in price competition but instead focus on technological innovation and efficiency to deliver value to customers [3][6] - The company has acknowledged the ongoing challenges posed by supply chain dynamics, with accounts payable reaching 250.77 billion RMB, a significant increase from previous years [3] Group 4: Technological Innovation and Safety - Wang Chuanfu highlighted that safety is the primary goal in the development of intelligent driving technologies, with a focus on reducing traffic accidents and improving consumer experience [6][7] - The company is cautious about aggressively pursuing high-level autonomous driving, prioritizing safety over performance metrics [7][8] - BYD anticipates significant advancements in electric and intelligent vehicle technologies in the coming years, with plans for multiple technology release events [8]