BYD, a prominent player in the automotive industry, has experienced a remarkable surge in its stock value, reaching a new high since July 2022. Over the past six trading days, BYD has seen a significant increase of 25.7 percent, positioning itself back into the RMB trillion market capitalization club in China’s A-share market. Another key player in this club is CATL, with a market cap of RMB 1.12 trillion.
The positive momentum for BYD’s shares began on the first trading day of the Chinese lunar Year of the Snake, with the stock price rising by more than 25 percent in a series of trading sessions. This upward trend culminated in BYD’s Shenzhen-traded shares closing at RMB 345.05 per share today, reflecting a 4.59 percent increase.
As of February 12, the list of companies with market caps above RMB 1 trillion in China’s A-share market includes familiar names such as Industrial and Commercial Bank of China, China Mobile, China Construction Bank, Kweichow Moutai, Agricultural Bank of China, and others.
The recent surge in BYD’s stock value is largely attributed to the market’s optimism surrounding the company’s smart-driving strategy. On February 6, BYD announced its plan to unveil a smart strategy, triggering a 10 percent increase in its shares. Subsequently, on February 10, BYD revealed its vehicle intelligence strategy, declaring that all its models would come equipped with free smart driving systems. This move included updates to 21 models across the Dynasty and Ocean lineups, solidifying BYD’s commitment to advancing in the smart driving era.
As BYD continues to make significant strides in the automotive industry, its recent achievements underscore its position as a key player in the market. The company’s focus on innovation and smart technologies is likely to drive further growth and success in the future.
