CI-BYD @EC2701A

$BYD COMPANY(01211.HK)

BYD (1211.HK): Short-Term Pain or Global Pivot in Progress?

As a BYD shareholder, I admit that I am worrying to see the share price drift lower day after day. 😟

Is BYD falling because China’s market is saturated ……or it is building a solid base before its next global leg higher?

Here’s the full 1H 2026 breakdown:

🔷 Fundamentals - Price War Pressure and its Overseas Strength

• Revenue -7.13% YoY to RMB 344.82B; Net Profit -20.54% YoY to RMB 12.33B, hit hard by fierce domestic price wars

• Overseas revenue crossed 52.57% of total for the first time! Gross margin overseas: 21.71% vs domestic 15.67%. Exports +67.8% YoY → 792,000 units 🌍

• R&D investment: RMB 28.9B, reinvesting heavily in next-gen Blade Battery and charging infrastructure 🔋

🔷 Technicals - Are Institutions Buying the Dip?

• Daily Delta Volume +11.87%, more buying than selling, signaling institutional accumulation ☺️

• Immediate support: HK$81.93

• Resistance: HK$90.11 (20-week SMA), then HK$95.00–97.50

Overseas growth is now BYD’s margin shield as China nears peak saturation.

Are you accumulating at these support levels, or waiting for a breakout above resistance? 👇

I am confident with my holding and ride the green dragon to global frontiers 🐉.

Horizon Robotics 1H26 First Take. The company had pre-announced a profit warning, and 1H revenue and blended GPM landed toward the high end of guidance; however, guidance had already been cut vs. prior Street consensus, and the upside was driven by licensing and services.The core product solutions biz (chips + HSD algorithms) materially missed. Both revenue growth and margins slowed sharply; breakdown below:

1) Product solutions revenue slowed notably. The 'volume + price up' thesis remains unproven.

Revenue growth decelerated sharply: Q2 product solutions revenue was just RMB 930 mn, with growth slowing from 85% in 2H25 to only 15% in 1H26. This is far below the prior 2026 full-year guidance for the segment of +132%.

Shipments growth eased: 1H26 chip shipments were only 2.218 mn units, up just 12% YoY and below the full-year guide (Horizon has cut its FY shipments guide from 5.42 mn sets to 5.00 mn, implying ~25% YoY). The weakness reflects soft domestic PV retail demand in 1H26 (-20.2% YoY) and sales at key customer BYD Co. missing expectations, while BYD’s in-house high-compute 'Xuanji A3' chip (3-chip cluster >2,100 TOPS) stoked concerns about share loss in intelligent-driving chips.ASP gains stalled: 1H26 ASP was RMB 417, up only 2.4% YoY, indicating the higher-priced J6P has yet to scale. Shipments remain concentrated in the Mono series (J2, J3, J6B) and other mid/low-tier chips. The market’s thesis of domestic substitution led by the high-compute J6P driving both volume and ASP higher has not materialized in 1H26.

2) Product solutions GPM fell YoY, pressured by three factors.

Q2 product solutions GPM was just 36.2%, down 600 bps YoY and well below the 46.7% expected. Key drags included:

a) Product mix skewed to mid/low end. Shipments remained dominated by the lower-priced Mono series, while the high-ASP, high-margin J6P contributed minimally.

b) Memory price upcycle eroded hardware profits. DRAM prices continued to rise, and higher memory costs directly compressed product margins.

c) Higher mix of low-margin system-level deliveries. To accelerate roll-out of high-end HSD (SuperDrive) solutions, Horizon provided system-level deliveries including domain controllers to select clients. The low-margin domain-controller hardware diluted overall solution margins.$HORIZONROBOT-W(09660.HK)

$BYD COMPANY(01211.HK)

🚗 BYD H1 2026: Global Strength Shines Through Domestic Pressures! 🌍

Total revenue dipped 7.13% to RMB 344.82B amid tough domestic competition. If we look deeper into the breakdown, it is actually a strategic win.

Gross margin expanded to 18.85% proving fast-growing international sales are successfully offsetting domestic price pressures!

🌏 Global Engine Roaring:

• Exports: 792,000 units — up 67.8% YoY 🚀

• Milestone: Overseas revenue hit RMB 181.3B, surpassing domestic revenue for the first time, 52% of total sales! 🌍

💰 Rock-Solid Finances:

• Operating cash flow up 17.3% to RMB 37.34B

• Cash reserves: RMB 167.4B 💵

• R&D investment: RMB 28.9B, 2.3× net profit! Innovation remains the priority 🧠

From Brazil and Thailand to Europe with the Denza Z9GT, BYD is going global, premium and vertical.

Build Your Dreams. ✨

Let’s go green dragon.

Not financial advice. Please do your own DD. ☺️.

Today’s a huge earnings day for three major Chinese players: BYD, Miniso, and Meituan!

Anyone keeping a close watch on these results? 👀