Automobile Manufacturers

BYD Company Limited

HESAI

Conference Minutes

688363

HSAI

TECH

PONY

02026

00175

80175

HGMD

GELHY

02525

02015

LOTWW

01211

81211

HYDD

002594

BYDDF

BYDDY

Q2 total revenue is expected at RMB 850–900 mn.LiDAR shipments are estimated at ~650k units.

Bloomage Biotech

Hesai

Mirae Asset Global Investments Co., Ltd.

Bio-Techne

Pony AI

PONY-W

GEELY AUTO

GEELY AUTO-R

Geely Auto HK SDR 2to1

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

HESAI-W

LI AUTO-W

Li Auto

Lotus Tech

LOTUS TECHNOLOGY INC C/WTS 22/02/2029 (TO PUR COM)

BYD COMPANY

BYD COMPANY-R

BYD HK SDR 10to1

BYD Company

HSAI (Trans): SGI biz to match LiDAR scale in 5 yrs

Financial Analysis

2026 will remain a 'price-for-volume' year for Hesai Group amid high-stakes competition.

BOYD Gaming

HSAI: Cut Losses, Hold the Line — Sector Leader Under Pressure?

LEAPMOTOR

09863

$LEAPMOTOR(09863.HK) released its Q1 2026 results after the HK close on May 15 (BJT). The print marked a departure from Leapmotor’s historically steady execution.Despite a seasonal soft quarter for the industry, volumes were still decent and opex discipline was reasonable. However, both revenue and GP missed, with per-vehicle GP well below street expectations.On the details: revenue missed as ASP fell further on a shift toward lower-end models. Q1 revenue was RMB 10.82bn (+8% YoY)...

Leapmotor: Aiming for 1mn Units, Is GPM the First to Slip?

Sanhua

02050

GELYY

TSLA

01810

81810

HXXD

XIACY

002050

Q1 revenue returned to positive growth. Back in positive territory.

GE Aerospace

SANHUA

Geely Auto

Tesla

XIAOMI-W

XIAOMI-WR

Xiaomi HK SDR 2to1

Xiaomi Corporation

Sanhua Intelligent Controls: Auto parts back in the black; how long until the robot boom?

Geely

Q2 GPM is expected to be stable to slightly higher vs. Q1. Product mix should further improve.

Geely Auto (1Q26 Trans): FY export target raised to 750k units

VLVLY

$GEELY AUTO(00175.HK) released its Q1 2026 results at midday in the Hong Kong session on Apr 29, 2026 (Beijing time). While headline revenue and net profit attributable to shareholders missed, core GPM and per-vehicle OP moved higher against the trend, underscoring strong operating resilience:1. Total revenue slightly missed, but per-vehicle ASP remained solid. Quarterly revenue was RMB 83.8bn (+15% YoY), below market est. of RMB 92.3bn.The key investor concern has been a potential QoQ decline in ASP this quarter...

Volvo

Geely: Per-car net profit on par with BYD; big comeback?

Today’s Key News Recap

QCOM

09866

SPOT

MSFT

01880

601888

0429 | Dolphin Research Focus: 🐬 Macro/Industry 1) The Fed will hold its policy meeting in Washington this week, with the decision due Wed 2:00pm ET (Thu 2:00am Beijing). Markets will focus on the rate decision, policy stance and forward guidance on the easing path.With growth and inflation still resilient, consensus expects rates to be kept on hold this time. 🐬 Single Stocks 1) $NIO-SW(09866.HK) $NIO Inc(NIO.US) Under Nio’s ONVO brand, the smart dual-cockpit, large five-seat flagship SUV ONVO L80 has been introduced. Pre-sales have started.

Qualcomm

NIO-SW

NIO Inc. USD OV

NIO Inc

Spotify

Microsoft

CTG DUTY-FREE

Fed decision due tonight; NIO's ONVO L80 pre-sale in focus | Daily News Recap

09868

XPEV

BYD delivered a better-than-feared set of results. Expectations were low, and the outcome was solid.

XPENG-W

XPeng

BYD: Overseas Boom Won't Plug Home-Market Hole

BYD 1Q26 First Take: With Q1 deliveries pre-announced at 700k units (-30% YoY) and sentiment broadly bearish, BYD delivered a 'better-than-feared' print. Despite revenue and profit being dragged by lower volume, ASP, auto GPM, and profit per vehicle all beat street expectations. The core driver was a step-change in the mix of high-margin overseas models. This effectively offset GPM dilution from domestic inventory clearance and negative scale effects. ① Total revenue was RMB 150.2 bn (-11.8% YoY), with auto revenue at RMB 112.0 bn (-16.1% YoY), mainly due to lower auto volume.ASP reached RMB 160k this quarter, up 20% vs. RMB 133k in 1Q25 and above the street’s RMB 144k estimate.Overseas expansion is not only about volume but also price/mix quality.Export mix surged from 21% in the prior-year quarter to 47% in Q1. Given overseas ASP is ~1.5x domestic, this structural shift offset the ASP drag from clearing older models in China. ② Total GP was RMB 28.25 bn (-17.4% YoY).Auto GPM was 23.4%, up 180 bps QoQ and above the street’s 21.7%.In 2H25, BYD’s overseas GPM exceeded domestic by ~1,100 bps. With exports approaching half of volume, BYD has pivoted strategically. It is moving from domestic price competition to prioritizing profit capture globally. ③ Profit per vehicle was RMB 5.8k, down from RMB 6.7k in 4Q25 but above the street’s RMB 3.4k.The QoQ decline was driven by discounts tied to domestic clearance of older inventory and a higher opex ratio on a smaller revenue base (negative operating leverage).In addition, FX losses were recognized (financial expenses fell RMB 4.0 bn YoY vs. 1Q25). Ex-FX and other noise, core OP per vehicle (GP minus taxes and opex) was RMB 5.9k, above RMB 5.6k in the prior-year quarter.Core operating profit was RMB 4.12 bn (-26.5% YoY).$BYD(002594.SZ) $BYD COMPANY(01211.HK) $BYD Company(BYDDY.US)

00700

TCTZF

80700

TCEHY

03750

HOOD

LKNCY

00388

80388

HKXCY

605499

09980

HTCD

HCCD

300750

0428 | Dolphin Research Focus: 🐬 Macro/Industry. 1) The CPC Politburo met on Apr 28 to assess the current economy and economic work.It said the economy remains broadly stable with a solid start, and recovery resilience continues to build. However, endogenous momentum still needs consolidation, and the foundation for the upturn is not yet firm.The meeting reaffirmed the principle of seeking progress while maintaining stability. Policy will stay proactive on the fiscal side and prudent on the monetary side, using targeted measures to stabilize the macro backdrop.Priorities include boosting domestic demand and defusing property and local gov. debt risks in an orderly manner. It will also push forward 'AI+' and other industrial upgrade initiatives...

TENCENT

Tencent Holdings Limited

TENCENT-R

Tencent

CATL

Robinhood

Luckin Coffee

HKEX

HKEX-R

Hong Kong Exchanges and Clearing (HKEX)

Coca Cola

EASTROC BEVERAGE

EASTROC

Tencent HK SDR 10to1

CATL HK SDR 30to1

CATL's discounted equity raise rattles market; Tencent Cloud up for a third straight session YTD | Daily News Recap

China's Auto Patents Surge, BYD's Quarterly R&D Expenses Exceed 10 Billion Yuan

BYD launches three new energy vehicles in Bangladesh

BYD Executive Responds to Doubts Over Singular Battery Technology Route, Stating Multiple Routes Are Being Developed Simultaneously

BYD launches new intelligent in-car radio with off-grid communication support

BYD's Fang Cheng Bao 'Leopard' Smart Charging Pile Relaunched

BYD, Mercedes, and Red Bull Consortium Bid for Alpine Team Shares and Engine Plant

Pop Star Wang Leehom Confirms Entire Denza Endorsement Fee Was Used to Purchase BYD Stock

BYD Executive Confirms Talks with Stellantis and Other Carmakers to Acquire Idle European Factories

BYD and other auto giants discuss the future of smart mobility in Thailand

A shipment of nearly 5,000 BYD vehicles is heading to Australia to meet growing local demand for electric and plug-in hybrid vehicles.

People's Daily Explores the 'Talent Code' of the New Energy Vehicle Industry, Citing BYD as an Example

BYD Executive Responds to 'Flash Charging Damages Battery' Concerns

BYD's Fang Cheng Bao 'Bao 3' Flash Charging Edition Models Begin Normal Delivery

BYD SHARK Pickup to Launch in China in the Second Half of 2026

BYD postpones flagship electric SUV launch due to over 100,000 pre-orders

BYD delays flagship SUV 'Datang' launch due to surging demand, bookings exceed 100k

BYD leadership visits Inokom plant in Malaysia, hinting at a pivot in local assembly plans

BYD reportedly delays launch of new 'Tang' series model due to tight battery supply

Processing Fees for Lithium Iron Phosphate (LFP) Battery Materials Generally Increase by 1500 Yuan/Ton

BYD launches Song Pro DM-i Feichi Edition in Zhengzhou, a 100,000-yuan class PHEV SUV with 300km pure electric range

NextNRG

AMPLITECH GROUP INC. USD0.001 S/R 20/11/26 SER B

InMed Pharmaceuticals

Amesite

AMPLITECH GROUP INC. COM USD0.001 (S/R 18/07/2026)

Meiwu Tech

CN Energy

MetaVia

Generation Income Properties

Co-Diagnostics

516380

515030

Sun Huajun, CTO of BYD, stated that while flash charging generates higher temperatures, it cannot be simply claimed that it damages batteries. He emphasized that advancements in charging speeds have historically faced skepticism but have progressed. Sun also addressed concerns about lithium iron phosphate batteries in high-end vehicles, asserting that battery manufacturers shouldn't define what is considered high-end. He expressed confidence in improving the energy density of these batteries in the future.

AASTOCKS News

Hwabao WP CSI Intelligent Electric Vehicle ETF

Hua Xia CSI New Energy Vehicles ETF

BYD Sun Huajun: One Cannot Simply Say 'Flash Charging Damages Batteries'

BYD's chief technology officer, Sun Huajun, assured that their new 9-minute flash charging technology does not harm battery life, following extensive testing. The technology allows rapid charging from 10% to 97% in nine minutes and operates efficiently even in extreme temperatures. BYD plans to build 20,000 flash-charging stations in China by 2026. Despite initial battery capacity issues affecting deliveries, BYD expects sales to rise as production stabilizes.

- BYD conducted extensive cycle and reliability testing, including 1,000 full flash-charging cycles, to ensure their new battery technology's reliability.  
- The second-generation Blade Battery supports ultra-fast charging at 1,500 kilowatts and can charge from 10% to 97% in nine minutes, even in extreme temperatures.  
- BYD plans to build 20,000 flash-charging stations in China by the end of 2026, aiming for widespread urban coverage, despite current battery capacity tightness affecting deliveries.

CnEVPost

BYD top scientist says 9-minute flash charging won't damage battery life

BYD launched an upgraded Denza N9 SUV at a starting price of 409,800 yuan, marking a shift towards a premium market. The new model features over 100 upgrades, including improved battery range and fast-charging capabilities. Denza aims to capture the luxury segment, with 70% of buyers being former owners of high-end brands. Despite a 41.5% drop in sales this year, BYD is focusing on Denza for its export strategy, recently promoting the brand in Europe with actor Daniel Craig.

- BYD launched an upgraded version of its Denza SUV at a starting price of 409,800 yuan ($77,118), marking a shift towards a more profitable image.  
- The new Denza N9 includes over 100 upgrades, such as enhanced battery range and a fast-charging capability, appealing to buyers who previously owned luxury brands like BMW and Mercedes-Benz.  
- Despite facing a 41.5% drop in sales in early 2026, BYD aims to leverage Denza for high-margin exports, recently introducing the brand in Europe during a prominent event.

Asiaone

Bayerische Motoren Werke AG

BAYERISCHE MOTOREN WERKE AG ADR EACH REPR 0.33333 SHS SPONSORED

Mercedes-Benz Group AG

Toyota Motor Corp.

Toyota Motor

ZEEKR Intelligent Tech

Bayerische Motoren Werke AG Pref

Toyota

BYD unveils upgraded flagship Denza SUV to bolster premium market push

Pop star Wang Leehom has exchanged his endorsement fee from Denza, a BYD brand, for BYD stock, expressing regret for not investing in the company earlier. He believes in BYD's long-term potential after a decade of collaboration. The Denza N9 flash charging edition was launched, featuring advanced battery technology and a starting price of 409,800 yuan. BYD's shares have seen a 6% decline this year.

- Renowned musician Wang Leehom announced that he used his endorsement fee from Denza to purchase BYD shares, expressing confidence in the company's long-term prospects.  
- He recalled his regret over not investing in BYD a decade ago, stating that such an investment could have yielded fivefold returns today.  
- The Denza N9 flash charging edition was launched with advanced features, including rapid charging capabilities and a high-performance tri-motor system, starting at 409,800 yuan ($60,290).

Pop star Wang Leehom swaps Denza endorsement fee for BYD stock

516110

159323

BYD's premium brand Denza has launched the N9 flash charging edition SUV, starting at 409,800 yuan ($60,260), lower than the previous pre-sales price. The model features a second-generation BYD Blade Battery, capable of charging to 97% in just 9 minutes. It offers a range of 420 kilometers on electric power and a combined range of 1,520 kilometers. The N9 is equipped with advanced technology, including a powerful 2.0T engine and smart driving assistance systems.

- The Denza N9 flash charging edition SUV is launched at a starting price of 409,800 yuan ($60,260), lower than the previously announced pre-sales price of 450,000 yuan.  
- Equipped with BYD's second-generation Blade Battery, it can charge from 10% to 97% in just 9 minutes, achieving a combined range of 1,520 kilometers.  
- Denza aims to expand flash charging station coverage within a 3-kilometer radius in major Chinese cities by the end of 2026.

Guotai CSI 800 Automobile and Parts ETF

ChinaAMC CSI Hong Kong Connect Automobile Industry Thematic ETF

BYD Denza launches N9 flash charging edition, featuring 9-minute fast charging

CARZ

DRIV

HSBC Research reports weak domestic demand in China's new energy vehicle market, with retail sales flat MoM and down 6% YoY. The broker lowers its 2026 demand growth forecast to -5%, while exports surged 69% YoY, driven by electric vehicles. HSBC favors BYD, Geely, XPeng, NIO, and CATL, assigning Buy ratings and specific price targets for each, citing technology upgrades and overseas expansion as key growth drivers.

- HSBC Research reported weak domestic demand in China's new energy vehicle market, with April retail sales of new energy passenger vehicles flat MoM and down 6% YoY.  
- China's passenger vehicle exports rose 69% YoY to 2.7 million units, driven by electric vehicles, providing essential support amid weak domestic demand.  
- The broker favors technology leaders like BYD, GEELY, XPENG, NIO, and CATL, assigning Buy ratings and setting target prices to encourage investment in the sector.

First Trust S-Network Future Vehicles & Tech ETF

Global X Autonomous & Electric V

HSBC Research Favors BYD COMPANY , GEELY AUTO , XPENG-W , NIO-SW  and CATL; Exports Offset Weak Domestic Demand

BYD Company Limited(BYDDF.US)