Xin Lang Cai Jing·2025-09-02 06:04Core Viewpoint - Morningstar analyst Vincent Sun indicates that BYD's automotive sales growth will slow this year due to a high base effect compared to last year and a lack of attractive new models in a competitive market [1] Company Summary - BYD's net profit for the second quarter fell below Morningstar's expectations [1] - Despite an increase in automotive sales, higher export contributions, and reduced battery costs, aggressive pricing promotions have pressured the profit margins of the electric vehicle manufacturer [1] - Morningstar has revised its 2025 automotive sales forecast for BYD down by 7% to reflect the sales trends observed so far this year [1] - The revenue forecast for this year has also been reduced by 4% due to concerns over competition and pricing pressures [1] - The analyst has lowered expectations for automotive profit margins in light of these competitive and pricing challenges [1]