On September 10, BYD COMPANY fell 3.06% in regular trading, trading at HK$79.45/share, with turnover of HK$779 million, as the broader automobile sector came under selling pressure.

On the news front, CLSA issued a research note projecting mainland passenger vehicle sales in September to decline approximately 24% year-over-year, casting a shadow over the entire auto sector. While CLSA maintained its high-conviction outperform rating on BYD with a target price of HK$120, the bearish near-term sales outlook weighed on sentiment. Earlier, BYD also denied market rumors of a 250,000-unit order backlog for its flash-charging models, characterizing the claim as inaccurate, which may have removed a short-term bullish narrative.

Within the Automobile Manufacturers sector, all major names declined. XPENG-W fell 4.44%, GEELY AUTO fell 2.95%, LI AUTO-W fell 2.31%, GWMOTOR fell 1.50%, and LEAPMOTOR fell 1.24%. The broad sector weakness coincided with multiple investment banks maintaining bullish long-term ratings on BYD, including buy ratings from UBS, Citi, Morgan Stanley, and Bank of America, with target prices ranging from HK$120 to HK$135.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)