Core Viewpoint - The company reported a strong performance in June with significant growth in wholesale sales of new energy vehicles, indicating a positive trend in both domestic and international markets [1][2][3]. Sales Performance - In June, the wholesale sales of new energy vehicles reached 383,000 units, a year-on-year increase of 12.0% and a month-on-month increase of 0.03% [1]. - The wholesale sales of new energy passenger vehicles were 378,000 units, showing a year-on-year growth of 11.0% and a month-on-month growth of 0.2% [2]. - The breakdown of sales by brand includes 343,000 units for Dynasty and Ocean series, 15,783 units for Tengshi, 18,903 units for Fangchengbao, and 205 units for Yangwang [1]. Export Performance - The company achieved a record high of 90,000 units in overseas sales in June, benefiting from increasing demand in markets such as Turkey, Brazil, and Europe [3]. - The sales of plug-in hybrid passenger vehicles were 173,000 units, reflecting a year-on-year decline of 11.5%, while pure electric passenger vehicles saw sales of 207,000 units, a year-on-year increase of 42.5% [2]. Product Development and High-End Strategy - The year 2025 is projected to be a significant year for high-end products, with flagship models like Han L and Tang L launched in April, featuring advanced driving systems and fast-charging technology [4]. - The Fangchengbao Titanium 7 is expected to launch in Q4 2025, targeting family users with its spacious design and advanced technology [4]. Financial Projections - Revenue projections for 2025-2027 are estimated at 990.8 billion, 1,188.97 billion, and 1,397.04 billion yuan, respectively, with net profit estimates of 55.2 billion, 65.8 billion, and 75.3 billion yuan [5][7]. - The earnings per share (EPS) are projected to be 10.05, 11.98, and 13.71 yuan for the years 2025, 2026, and 2027, respectively, with corresponding price-to-earnings (PE) ratios of 33, 28, and 24 [5][7].
比亚迪 | 6月:海外销量再创新高 全球化稳步推进【民生汽车 崔琰团队】