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<Research>HSBC Research: BYD's Launch of 'Super e-Platform' May Elevate Tech Standards; Autonomous Driving Milestones On Radar
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Positive
68
Negative
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BYD COMPANY (01211.HK) is expected to launch the “Super e-Platform” in early March, which is anticipated to enhance technical standards, particularly in terms of range and efficiency, and establish pricing standards, HSBC Global Investment Research said in a report. This may influence competitive strategies in 2Q.

In light of the impact of the Lunar New Year (LNY) on mid-February data, preliminary data should be interpreted with caution, with trends expected to normalize in March and April. Besides, the report closely monitored milestones related to autonomous driving. The broker also believed that policies are further supporting the commercialization of autonomous driving, with advanced autonomous driving technology and Robotaxis being the most attractive structural themes this year.

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In terms of stock selection, HSBC Global Investment Research favored companies with scale and clear catalysts, recommending BYD COMPANY, LEAPMOTOR (09863.HK), XPeng (XPEV.US), HORIZONROBOT-W (09660.HK), CATL (03750.HK), and TUOPU GROUP (601689.SH).

The broker’s investment ratings and target prices for autonomous driving-related stocks are listed as follows:

Stock | Investment Rating | Target Price

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H Shares
BYD COMPANY (01211.HK) | Buy | HK$139
LEAPMOTOR (09863.HK) | Buy | HK$66.7
CATL (03750.HK) | Buy | HK$594
HORIZONROBOT-W (09660.HK) | Buy | HK$11

A Shares
BYD (002594.SZ) | Buy | RMB123
CATL (300750.SZ) | Buy | RMB450
TUOPU GROUP (601689.SH) | Buy | RMB82

US Stocks
XPeng Motors (XPEV.US) | Buy | US$27.7

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