Public information, in October 2015, China's new energy automobile production 50 700, an increase of 8 times. In the first 10 months of cumulative production of new energy vehicles 206,900, an increase of 3 times. According to Xinhua News Agency quoted the China Association of Automobile Manufacturers, China's new energy vehicle sales this year is expected to reach 220,000 -25 million, while annual US sales of new energy vehicles is about 180,000.
China is expected in 2030 carbon emissions peak, carbon emissions per unit of GDP compared to 2005 decreased by 60% -65%. This will stimulate new energy or automobile production and sales.
As the industry leader, BYD electric passenger car, for many investment banks favor. In addition, the company is also a climate conference in Paris, the only invited Chinese new energy auto companies. Some analysts predict that next year BYD's sales will grow by 20% to HK $ 80.3 billion (about 66.865 billion yuan), some of which may benefit from consumer sales in 2017 for new energy vehicles subsidies cut by 20% before buying a car. BYD expects 2017 sales growth of 10%. JP Morgan believes that BYD is the best choice in the field of electric vehicles, is expected to next year's stock rose nearly 40%.
To sales ratio (stock price to sales ratio) measure, BYD current valuation is less than half of the US electric carmaker Tesla. JP Morgan also pointed out that previous research report, China's new energy automobile production due to lack of charging facilities affected sales growth. While major automakers have is introducing its own new energy vehicles, it is believed that the next competition will be more intense.
In addition, JP Morgan also likes Geely Automobile, the stock is expected to rise 17%. Geely is the field of electric vehicles smaller company, analysts on average expected BYD and Geely Automobile shares rose respectively by 20% and 3%.
Bank of America Merrill Lynch, in its research report said that at present do not have a very ambitious Geely premature concern new energy vehicles in 2020 sales target, but the industry benefit from seasonal factors, sales of sport utility vehicles and more acquisitions opportunity to merge, that its risk and reward ratio attract, maintain the company "buy" rating, target price from 4.58 yuan raised to 4.71 yuan.
Yutong Bus is because of its leading position in the electric buses are optimistic about the investment bank. Yutong Bus electric buses currently in the market share of 30% in a recent research report, the investment bank Jefferies BYD and Yutong were compared.
Jefferies investment bank believes Yutong outsource battery production, with respect to the battery BYD high research and development costs, higher profit margins Yutong Bus. In addition, the company's plant near capacity, R & D spending in the proportion of sales is low. Yutong Bus has cash, but some of it is BYD debt. Yutong Bus service generates sufficient free cash, while BYD is still burn.
Target price Jefferies investment bank gives hints next year the stock Yutong Bus 25% upside, while BYD's share price was flat.
A-share listed companies, in addition to BYD, Yutong Bus, the stocks involved in the electric vehicle category there SAIC, Jinlong car, Desai batteries.