January sales data is good, BYD rose more than 9% to hit the limit

Text/Forbes China

Image source: Visual China

On February 7, BYD (002594.SZ) rose sharply in early trading, once rising more than 9% to hit the limit. As of press time, it rose 8.3% to 245.52 yuan, with a total market value of 714.7 billion yuan.

Driven by it, today's A-car segment continued to strengthen, with Haima Motor (000572.SZ), Guangzhou Automobile Group (601238.SH), Great Wall Motor (601633.SH), and Jianghuai Automobile (600418.SH) rising more than 5%.

On the news side, BYD announced its January 2022 sales data on the evening of February 3, and the passenger car sales in January were 95,180 units, an increase of 126.1% year-on-year. Among them, new energy passenger cars sold 92,926 units, an increase of 367.6% year-on-year.

Previously, BYD's sales target for new energy vehicles in 2022 may be between 1.1 and 1.2 million units, and sales in January have reached about 10%, which is higher than expected. Affected by this, Hong Kong stock BYD shares rose more than 7% on the same day.

On January 31, BYD Semiconductor recently passed the review and approval of the Listing Committee of the Shenzhen Stock Exchange, and is expected to submit registration in the next step. According to the prospectus submitted by the GEM, it plans to raise 2.686 billion yuan. In addition, Sequoia China, CICC, Xiaomi, etc. are shareholders.

As early as the Spring Festival holiday, a number of new energy vehicle companies have announced the January car manufacturing report card. Among them, ideal automobile, Xiaopeng automobile and Nezha automobile delivered 12,268 units, 12,922 vehicles and 11,009 vehicles in January, respectively, with a year-on-year growth rate of 128%, 115% and 402% respectively. NIO delivered 9,652 volumes in January, up 33.6% year-on-year. Under the favorable sales data, the concept of new energy vehicles in Hong Kong stocks and US stocks has also risen.

Today, hong Kong stocks in the new energy vehicle sector also moved higher, ideal automobile (2015.HK) rose more than 5%, Xiaopeng Automobile (9868.HK) rose nearly 4%, BYD (1211.HK), Great Wall Motor (2333.HK) rose nearly 2%.

On January 12, 2022, the Association increased its sales of new energy passenger vehicles from 4.8 million to 5.5 million in 2022, and the penetration rate of new energy passenger vehicles is expected to reach about 25% in 2022. In view of the explosive growth of new energy vehicles in 2021, the industry is generally optimistic about 2022, and the same is true from the perspective of the trend of the capital market.