Core Insights - The event marked the launch of the Yuan family vehicles, emphasizing the theme "Navigating Forward, Honoring 1.5 Million Passions" [1][3] - The Yuan UP 301KM Navigation model was introduced at a price of 74,800 yuan, targeting young consumers with vibrant travel options [1][3] Group 1: Event Highlights - The Yuan family has gained over 1.5 million users since its inception, showcasing its strong market presence and customer loyalty [3][10] - The launch event featured interactive activities, including a DIY skateboarding art session, enhancing guest engagement [5][12] - A dynamic dance performance marked the introduction of the new vehicle, creating an exciting atmosphere [7] Group 2: Product Features - The Yuan UP maintains the Dynasty aesthetic design, featuring a sleek body and futuristic elements such as a closed grille and sculptural lighting [8][14] - The vehicle is equipped with BYD's latest blade battery and efficient electric drive system, ensuring safety and performance [12][14] - The Yuan UP offers advanced features like voice interaction and a comprehensive vehicle ecosystem, catering to modern lifestyle needs [12][14] Group 3: Customer Engagement - The event included various purchase incentives such as trade-in subsidies and low-interest financing options, generating strong interest among attendees [17] - Media representatives praised the Yuan family for its design, safety, and intelligent features, reinforcing consumer trust [19] - The ceremony concluded with the delivery of vehicles to first-time owners, symbolizing the bond between the brand and its customers [21][23]

Core Insights - BYD announced the sales figures for its Dynasty series vehicles for July 2025, totaling 133,800 units sold [1] Sales Breakdown - The Han family sold 12,255 units [1] - The Tang family sold 12,002 units [1] - The Qin family sold 53,907 units [1] - The Song family sold 27,052 units [1] - The Yuan family sold 22,977 units [1] - The Xia model sold 5,590 units [1]

Group 1 - BYD announced that its Dynasty series vehicles sold 133,783 units in July 2025 [1] - The Han family sold 12,255 units, while the Tang family sold 12,002 units [1] - The Qin family achieved sales of 53,907 units, and the Song family sold 27,052 units [1] - The Yuan family recorded sales of 22,977 units, and the Xia model sold 5,590 units [1]

Investment Rating - The report maintains a "Buy" rating for BYD Company Limited (1211 HK) with a target price of HKD 167.75, indicating a potential upside of 23.7% from the current closing price of HKD 135.60 [1][10]. Core Insights - The report highlights strong sales performance in May, with BYD selling a total of 382,476 vehicles, representing a year-on-year increase of 5.3% and a month-on-month increase of 1.2%. The sales of new energy passenger vehicles reached 376,930 units, up 14.1% year-on-year [7]. - BYD continues to lead the global new energy vehicle market, with a significant advantage over competitors, despite a slight decrease in market share in mainland China [7]. - The report emphasizes the robust performance of BYD's core sales networks, with the Dynasty and Ocean series contributing significantly to overall sales [7]. - High-end brands such as Tengshi and Fangchengbao have shown remarkable growth, with Tengshi's sales increasing by 29.3% year-on-year [7]. - Export sales reached a record high, with overseas sales of new energy vehicles totaling 89,047 units, a year-on-year increase of 133.6%, driven by expansion in Southeast Asia, Europe, and South America [7]. - The report projects continued growth for BYD, supported by its competitive advantages in scale, technology, and brand, as well as the expansion of its high-end brand matrix and overseas production capacity [7]. Financial Overview - Revenue projections for BYD are as follows: RMB 602,315 million in 2023, RMB 777,102 million in 2024, and expected to reach RMB 977,249 million in 2025, reflecting a year-on-year growth of 42.0% in 2023 and 29.0% in 2024 [3][11]. - Net profit is projected to grow from RMB 30,041 million in 2023 to RMB 40,254 million in 2024, and further to RMB 52,460 million in 2025, indicating a significant year-on-year growth of 80.7% in 2023 [3][11]. - The report provides a detailed financial outlook, including earnings per share (EPS) expected to rise from RMB 3.30 in 2023 to RMB 5.75 in 2025, with a corresponding decrease in price-to-earnings (P/E) ratio from 37.7 in 2023 to 21.6 in 2025 [3][11].