里昂发表报告，指有两个新兴趋势将重塑内地电动车市场格局：大众市场及20万元人民币以上价格汽车之间的买家焦点分化，以及新加入者的增长窗口正在关闭，因此最终将是“赢家通吃”的游戏。
该行指出，尽管比亚迪(01211.HK) 市占率已很高，但其规模经济难以挑战，预期其持续推出的新技术和强劲的新车周期将进一步巩固优势。近期订单降温显示未来数月竞争加剧。该行预测比亚迪现季度每辆车利润可维持9,000元人民币，下半年因出口贡献增加，利润将增长至每辆逾1万元人民币。
该行维持对比亚迪H股目标价483港元不变，并维持“高度确信跑赢大市”评级。(fc/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-04-28 12:25。)
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