BYD executives buy shares in a show of confidence in the EV maker's investment value

Core Viewpoint - More than three dozen BYD executives have increased their stakes in the company, which is expected to enhance investor confidence following a significant drop in share prices [1] Group 1: Executive Share Purchases - Thirty-seven executives, including five vice-presidents, invested a total of 52.3 million yuan (approximately US$7.3 million) to purchase 488,200 shares, representing 0.027% of the company [2] - The five vice-presidents acquired 221,800 shares for a total of 23.6 million yuan, with one of them also serving as the chief financial officer [3] - The remaining 32 executives purchased 266,400 shares for 28.7 million yuan during the same period [3] Group 2: Share Price Performance - BYD's A shares increased by 0.2% to 105.43 yuan, reducing losses to 23.4% from a peak of 137.67 yuan on May 23 [4] - The H shares fell by 0.3% to HK$105.30, marking a decline of 31.4% from the all-time high of HK$153.6 on May 23 [4] Group 3: Sales Target Adjustment - BYD has revised its sales target for the year to 4.6 million units, a decrease of 16% from the previous forecast of 5.5 million units, although this still represents a 7% year-on-year increase [5] - Concerns regarding the sales drop and profitability have contributed to the recent decline in BYD's share prices, but executives remain optimistic about the company's outlook [5] Group 4: Market Conditions - The electric vehicle market in mainland China is experiencing overcapacity and intense price competition, with only a few companies, including BYD, managing to remain profitable [6]