Insights
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Deutsche Bank lowers price target on Li Auto to $28 ahead of Q1 results
Edison Yu's team lowered their price target on Li Auto by $6 to $28, based on 3.0x 2023E EV/Sales, down from 3.5x previously.
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Deutsche Bank on China EV deliveries: April weak as expected due to Covid, expect May recovery
Edison Yu's team expects some spillover in May related to suppliers slowly returning to production, with June likely to be the first normal month.
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Seal expected to be BYD's key model, with clear advantages over Tesla Model 3, analysts say
Analysts at Essence Securities expect steady-state monthly sales of the BYD Seal to exceed 30,000 units.
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Guosen Securities initiates coverage on Nio with Overweight rating
The analyst expects Nio to post a net loss of 7.3 billion yuan this year, a loss of RMB 4.4 billion next year, and a profit of RMB 800 million in 2024.
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Xpeng sell-off overdone, says Deutsche Bank
Edison Yu's team believes Xpeng will see the biggest negative impact in deliveries in April, with deliveries only returning to closer to normal levels by June.
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BYD's auto business has passed its most stressful time, net profit will improve quarter by quarter, analysts say
BYD's net profit will continue to improve every quarter going forward as lithium carbonate prices fall and model price increases bring profit flexibility, CITIC Securities said.
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April could be lost month for Chinese EV makers as Covid situation worsens, says Deutsche Bank
Deutsche Bank analyst Edison Yu's team expects sales of EVs to fall across the board in April and may also be affected in May, leading to a broad downward revision of second-quarter volumes.
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China EV stocks: Is an upward re-rating looming?
"Looking ahead, we could envision a re-rating upward of China EV stocks given the large discount relative to US peers," said Deutsche Bank analyst Edison Yu's team.
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Fitch says China EV deliveries to remain strong despite rising prices
"Fitch believes the prospects for China's EV market are bright, given still-strong demand," the credit rating firm said.
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Deutsche Bank on Chinese EV startup 'Fab 5' deliveries: Impact of Covid lockdown limited
Edison Yu's team does not expect raw material price increases to have a materially negative impact on EV demand, considering that many ICE vehicle prices are also rising.
