智通财经网·2025-09-30 07:17Core Viewpoint - Goldman Sachs has released a report indicating that BYD's high-end brand Tengshi has begun pre-sales for the N8L, a D-class six-seat SUV, with a starting price of 318,900 RMB. The report highlights that the N8L scores the highest among new energy SUVs priced between 300,000 and 400,000 RMB in terms of price, range, size, and autonomous driving capabilities. Goldman Sachs sets a target price of 130 HKD for BYD's H-shares and 133 RMB for its A-shares, with a "Buy" rating [1]. Group 1 - The Tengshi N8L is positioned in the competitive market segment of new energy SUVs priced between 300,000 and 400,000 RMB, where it outperforms competitors in key metrics [1]. - The top-selling models in this price range are the Aito M8 and Li Auto-W L7, both five-seat models, while the Li Auto L8 is a six-seat model like the N8L. The N8L is expected to achieve average monthly sales of 6,000 units, surpassing the L8's 5,000 units [1]. - Goldman Sachs maintains an optimistic outlook on BYD's long-term strategy for the Tengshi brand, focusing on technology and safety. The firm forecasts a compound annual growth rate of 24% for Tengshi brand sales, increasing from 126,000 units in 2024 to an estimated 468,000 units by 2030 [1].