According to the Orient Securities Research Report, BYD's domestic sales continued to improve month-on-month, and overseas sales continued to grow at a high rate. In August, the company sold 443,300 units, up 17.8% year on year and 5.0% month on month; cumulative sales volume in January-August was 2.668 million units, down 6.8% year on year. In August, the company's overseas sales reached a new high of 189,500 vehicles, up 134.4% year on year and 4.9% month on month, accounting for 43.0% of overseas sales. In the European market, the company ranked first in sales of new energy models in Spain, Italy, the United Kingdom and other markets. The company's overseas flash charging strategy, multi-power model launch and localized production layout are expected to continue to help the company increase its overseas sales volume and market share. The company's overseas business revenue surpassed domestic sales for the first time in the first half of 2026, and it is expected that the overseas market will become the company's core growth pole in the future. Domestic sales continued to improve month-on-month, and the increase in the share of mid-range and high-end model sales will promote the restoration of the company's domestic profitability. The bank predicts EPS for 2026-2028 at 4.64, 5.39, and 6.18 yuan, respectively, maintaining a comparable 2026 PE average valuation of 27 times, and a target price of 125.28 yuan, maintaining a “buy” rating.

According to the Orient Securities Research Report, BYD's domestic sales continued to improve month-on-month, and overseas sales continued to grow at a high rate. In August, the company sold 443,300 units, up 17.8% year on year and 5.0% month on month; cumulative sales volume in January-August was 2.668 million units, down 6.8% year on year. In August, the company's overseas sales reached a new high of 189,500 vehicles, up 134.4% year on year and 4.9% month on month, accounting for 43.0% of overseas sales. In the European market, the company ranked first in sales of new energy models in Spain, Italy, the United Kingdom and other markets. The company's overseas flash charging strategy, multi-power model launch and localized production layout are expected to continue to help the company increase its overseas sales volume and market share. The company's overseas business revenue surpassed domestic sales for the first time in the first half of 2026, and it is expected that the overseas market will become the company's core growth pole in the future. Domestic sales continued to improve month-on-month, and the increase in the share of mid-range and high-end model sales will promote the restoration of the company's domestic profitability. The bank predicts EPS for 2026-2028 at 4.64, 5.39, and 6.18 yuan, respectively, maintaining a comparable 2026 PE average valuation of 27 times, and a target price of 125.28 yuan, maintaining a “buy” rating.