Daily Investment Strategy
Daily focus：BYD（1211）
Reported a net profit of RMB9.155bn in 1Q25, doubling year-on-year, with revenue reaching RMB 170.36 billion, driven by strong growth in new energy vehicle sales. Quarterly sales reached about 1 million units, accounting for 18% of the annual target, with exports hitting a record 21% of total sales. Net profit per vehicle was approximately RMB 9k , up 30% yoy. Looking ahead, BYD plans to launch nearly 20 new models in 2025, enhancing range, power, and intelligent driving technologies while expanding overseas markets. The company announced a 30% cash dividend and a 1-for-3 stock split in 2024, reflecting management’s confidence in long-term growth. Overall, BYD maintains robust momentum, steadily advancing its full-year sales and profit targets.
US Stock first-quarter earnings continued to be released
U.S. stocks closed mixed on Monday as first-quarter earnings continued to be released, with more than 180 S&P 500 companies set to announce their results this week. However, first-quarter earnings are unlikely to reflect the impact of tariffs. Investors are paying closer attention to companies’ outlooks for the second quarter and the full year. Among those that have already reported, most companies have lowered their forecasts for the second quarter and the full year, citing uncertainty from Trump’s tariffs, which has forced them to provide cautious guidance.
On Monday, the Stock Connect program recorded a net inflow of HK$2.03 billion. Among them, Tracker Fund of Hong Kong (2800) saw the largest net inflow at HK$2.04 billion, followed by Hang Seng China Enterprises Index ETF (2828). Alibaba (9988) recorded the largest net outflow at HK$1.42 billion, followed by Tencent (700).
Cheung Cho Shing, Joseph is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to:https://apps.sfc.hk/publicregWeb/indi/ACQ030/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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