JP Morgan is firmly optimistic about BYD, believing that the combination of the second-generation blade battery and the flash charging network is pushing BYD towards a leading position in the next stage of electric vehicle popularization.
On March 5th, according to an article from Wallstreetcn, BYD released its second-generation blade battery and flash charging technology. On March 6th, according to news from the Chasing Wind Trading Desk, JP Morgan's latest research report clearly pointed out that this integrated solution, which combines battery innovation, extreme safety, and a scalable charging ecosystem, is becoming the absolute leader in the next stage of electric vehicle popularization, with ultra-fast charging becoming a disruptive factor.
The research report indicated that JP Morgan believes the most critical signal is: do not overly fixate on the potential profit forecast downgrade risk that may arise from the upcoming 2025 performance announcement. The bank's analysts emphasized that as long as the short-term performance disturbances are overcome, BYD's stock price is expected to regain upward momentum driven by the strong impetus of new product cycles and technological breakthroughs.
JP Morgan maintains an &#34;overweight&#34; rating on BYD's Hong Kong stock and sets a target price of up to HKD 110.00 by December 31, 2026, which represents nearly a 20% upside from the current HKD 93.
<img src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/bc2a0bf9-ec75-4c16-9ad2-fd1bccf3d174.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/bc2a0bf9-ec75-4c16-9ad2-fd1bccf3d174.png"/>
(Source: Wind)
<h2>Flash charging in 9 minutes redefines industry standards</h2>
According to Wallstreetcn, at the technology day launch on March 5th, BYD Chairman Wang Chuanfu showcased the core data of the second-generation blade battery: supporting a maximum charging rate of 8C, it takes only 9 minutes to charge from 10% to 97%, setting the record for the fastest charging of mass-produced vehicles globally. The on-site test of the BYD Seal 07EV took a total of 8 minutes and 44 seconds.
What is even more noteworthy is the low-temperature performance—under the -20 degrees Celsius environment in Harbin, it takes only 12 minutes to charge from 20% to 97%, just about 3 minutes longer than at room temperature, directly addressing the core pain point of winter energy replenishment for new energy vehicles.
In terms of energy density, the new battery reaches approximately 200Wh/kg, an improvement of about 50% over the first generation, placing it at the mainstream level of ternary lithium batteries; the theoretical cycle life can reach 4000 times, corresponding to about 15 years of vehicle usage.
Safety tests also exceed national standards: After 500 cycles of flash charging, there was no smoke or fire during puncture tests, and the thermal diffusion test raised the triggering conditions to short-circuiting 4 battery cells simultaneously, with the bottom impact standard reaching 10 times the new national standard.
<h2>Infrastructure: 20,000 flash charging stations to build a moat</h2>
JP Morgan highly praised BYD's ambition in building a charging network, with ultra-fast charging becoming a disruptive factor.
On the same day, BYD also launched its &#34;Flash Charging China&#34; strategy, having already built 4,239 flash charging stations, with plans to expand to 20,000 by the end of 2026, ultimately achieving that 90% of urban areas will have a flash charging station within 5 kilometers
JP Morgan pointed out that BYD is deploying the world's largest mass-produced charging piles (single-gun power of 1.5 megawatts), all integrated with energy storage systems to reduce grid impact.
<blockquote>
&#34;BYD's integrated solution—combining battery innovation, leading safety, and a scalable charging ecosystem—positions it as a leader in the next phase of electric vehicle adoption.&#34;
</blockquote>
<h2>Firmly Optimistic About BYD</h2>
The research report states that based on the aforementioned technological breakthroughs and the intensive launch of new models (with 10 new models expected to be delivered starting in April and May), JP Morgan expects BYD's sales to rebound strongly from approximately 700,000 units in Q1 2026 to 1.1 to 1.2 million units in Q2. For the current market, investors should closely monitor the rebound in store foot traffic around the Beijing Auto Show on April 24.
Looking long-term, JP Morgan believes that 2026 will be a significant turning point for BYD's globalization strategy. Its four overseas production bases in Thailand, Indonesia, Brazil, and Hungary will gradually ramp up capacity. BYD is confidently competing in the global market with hard-core technology that can be mass-produced and scaled, rather than relying solely on price wars.
Based on discounted cash flow and comprehensive valuation methods, JP Morgan calculates that its long-term reasonable stock price range is between HKD 94 and 121, with a target price of HKD 110 reflecting strong confidence in its future value.

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JP Morgan believes that the combination of the second-generation blade battery and the fast-charging network is pushing BYD to a leading position in the next stage of electric vehicle popularization. As long as it overcomes short-term performance disturbances, BYD is expected to regain upward momentum driven by a strong new product cycle and technological breakthroughs

- JPMorgan is optimistic about BYD, highlighting its second-generation blade battery and super-fast charging network as key to leading the next phase of electric vehicle adoption.  
- The latest report indicates that BYD's integrated solution, combining battery innovation and safety, positions it as a frontrunner, with an estimated sales increase from 700,000 to 1.1-1.2 million vehicles in Q2 2026.  
- JPMorgan maintains a "buy" rating on BYD shares, setting a target price of HKD 110.00, indicating nearly 20% upside potential from the current HKD 93.00.

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Hua Xia CSI New Energy Vehicles ETF

After watching the press conference, JP Morgan is more confident in BYD: Don't get hung up on the 2025 performance, fast charging is expected to disrupt the industry!