Daiwa says BYD (01211.HK) management updated 2026 sales and gross‑margin outlook
and reported progress on flash‑charging. Management guides overseas volumes of
1.8m in 2026 and 2.5m in 2027, and is confident of regaining market share in H2
as second‑gen blade battery supply ramps. Management also guides average
overseas net profit per vehicle of about RMB20,000 and expects to hit that
target in 2026. Daiwa rates BYD Buy.