0624 GMT - BYD will likely continue to lead the Chinese EV industry, thanks to its efforts upgrading its technology and its overseas expansion, Nomura analysts write in a note. The company has stepped up its efforts to further upgrade its models' technology and platform to raise competitive barriers against its rivals to gain more market share this year, they add. Taking into account the company's active business plan and vertically integrated business model, Nomura thinks its competitors won't pose significant challenges to the company, at least in the foreseeable future. The average selling price will further stabilize and operating profit margin will likely remain unchanged. Nomura maintains a buy rating on the stock but cut its target price to HK$491.00 from HK$496.00 citing its recent share placement.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
April 04, 2025 02:24 ET (06:24 GMT)
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