Lyon: Positive outlook on BYD's overseas market and high-end market growth prospects, rating it as "outperforming the market".

Lyon released a research report stating that BYD's total orders last week reached 82,000 vehicles, and they believe that orders will continue to increase thanks to the redesign and new model cycle, which has improved cost efficiency. The firm believes that BYD will redesign its models by 2026 to compete with other automakers with stronger cycles, such as upgrading the battery range of its plug-in hybrid vehicles. Lyon expects that BYD's vertical integration model will provide greater flexibility in the increasingly intense price war environment, and they are optimistic about its promising prospects for overseas and high-end market growth. The firm has set a target price of HK$140 for BYD's H shares and rated it as "outperform the market."