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<Research>Deutsche Bank Trims BYD COMPANY (01211.HK) TP to $127.5, Sees Weak Sales in 1Q26
Recommend 16 Positive 23 Negative 8 |
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BYD COMPANY (01211.HK)'s 2025 results missed market expectations, with net profit declining by 19% YoY to RMB32.6 billion, according to Deutsche Bank's research report. Its recurring net profit slipped by 20% YoY to RMB29.4 billion. An unexpected increase in financial expenses for 4Q25 beat expectation, surging by 1,109% YoY and 635% QoQ, reaching RMB2.3 billion, marking the largest single-quarter financial expense since the Company's inception. Foreign exchange losses in 4Q25 resulted in a worse-than-expected 2025 results. Considering the weak sales in 1Q26, the broker slightly lowered its 2026 net profit estimation for BYD COMPANY by 3.6%. This led Deutsche Bank to trim its target price based on a discounted cash flow (DCF) method from $130 to $127.5, with rating at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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