0500 GMT - BYD is likely to see solid improvement in profitability in 1Q, Nomura analysts write in a note. The company's 1Q net profit per vehicle could be around 8,500 yuan, thanks to a growing business scale, less aggressive prices and better pickup in the overseas market, they add. Following the risks around the latest reciprocal tariff from the U.S. and China's countermeasures, Nomura is more cautious on the overall China auto market. Beijing may consider offering new incentives if consumer demand remains below expectations, they say. However, BYD should remain an outperformer in the China market given its position and business scale, Nomura says. The brokerage maintains buy rating and target price of HK$491. Shares last at HK$318.00. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
April 09, 2025 01:00 ET (05:00 GMT)
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