BOYD Gaming

BYD makes cars and buses but sure, "military company" ok 🙃 the label inflation is getting comical

The "blacklist" of Chinese firms is not something new. Back in Feb 2026, the updated listed, which included Alibaba, BYD, Baidu, etc, was withdrawn shortly after it was posted for an hour on 13 Feb. It was thought that the withdrawal was to avoid antagonizing the Chinese following a trade truce reached by Trump-Xi. This, like the ding-dong of thr Nvidia export to China approval, are tools in the US war chest against Beijing. Having come after the Chinese crackdown on illegal cross border operation by Brokers in HK, restricting Chinese retail Investment in the US market, would anyone think this is a gesture to return the "kindness"?

Pentagon put Alibaba, BYD and Baidu on the military companies list and HK tech just folded -1.2%. here we go again with the China discount 😮‍💨

Why the Upcoming Space IPO Could Matter for Markets

The upcoming space IPO could be a major signal that investors are ready to treat space as a serious public-market theme, not just a futuristic idea.

A strong debut may attract capital into satellite networks, launch systems, aerospace suppliers, defense-space, and space-based data services. It could also revive confidence in large frontier-tech listings.

The key risk is valuation: if excitement runs ahead of fundamentals, early enthusiasm may quickly turn into sharp post-listing volatility.

HSAI 1Q26 First Take: Slight beat overall, with revenue above the midpoint of guidance, but core OP remained in the red as ASP deflation weighed on margins.

1) Revenue: higher volume, lower price, slight beat

Revenue was RMB 684 mn (+28.7% YoY), landing toward the upper end of the RMB 650–700 mn guide. Growth was fully driven by shipments beating plan.

Shipments beat: seasonally soft quarter proved resilient, with ADAS and robotics as dual drivers.

Q1 is typically off-season, compounded by the phase-down of domestic NEV purchase tax incentives (domestic NEV sales -4% YoY), yet total shipments reached 477k units vs. 400–450k guided. This again underscores accelerating LiDAR penetration into mid- to lower-end models.

ADAS shipments were 353k units (+142% YoY), led by the thousand-yuan ATX ramping in RMB 100k–200k models at BYD and Geely. The lower-priced blind-spot filler FTX also started to scale.

Robotics shipments were 124k units (+138% YoY), exceeding the 100k guide. Growth was driven by the JT series for lawn mowers and related use cases.

② ASP still deflating: intensified competition as the main driver

Blended ASP was about RMB 1,441, down 45% YoY and a further 7% QoQ vs. 4Q25. Despite a higher mix of higher-priced robotics LiDARs (up 13ppt QoQ to 25%), overall ASP was dragged down, reflecting both mix and price-for-volume competition.

a. Mix shifted toward lower-priced ATX (e.g., custom versions supplied to BYD and Geely) with unit price around RMB 800. This is well below the 2026 overall ATX Avg. of about USD 150.

b. The lower-priced FTX blind-spot filler (about USD 100) began to ship. This further pushed down blended ASP.

2) Gross margin: notably pressured, GPM fell below the key 40% threshold for the first time

GPM was 39.1%, down 260bps YoY, below the market’s 39.9% expectation and the company’s usual 40%+ level. This marks a break below a psychologically important line.

The decline was mainly because ASP deflation (-45% YoY) outpaced cost reductions from in-house chips, with scale benefits not yet realized. As a result, per-unit GP was under pressure.

3) Opex and profit: disciplined spend, but core OP still loss-making

Q1 opex totaled RMB 300 mn; against ~30% revenue growth, opex rose ~40% YoY, reflecting tighter internal management and a more refined operating approach. Cost control remained a focus despite growth investments.

Core OP came in at -RMB 30 mn, a small loss as ASP deflation compressed GP and seasonality limited scale leverage. Still, it was slightly better than the market expected. $Hesai(HSAI.US) $Hesai(HSAI.US)

[Week 3] Portfolio Health Check: Navigating the May Earnings Season 🚗

1️⃣ Current Holdings

The core of my portfolio remains steady, centered on Technology and EV leaders.

My current sector distributions are:

🟢 Broadline Retail: 56.27% (JD & Alibaba)

🟢 Automobiles: 22.89% (BYD)

🟢 Tech Hardware & Peripherals: 17.45% (Xiaomi)

🟢 Interactive Media & Services: 0.98% (Bilibili)

My heavyweights are JD-SW (43.51%) and BYD (22.89%). I continue to hold Xiaomi and Alibaba, with a minor stake in Bilibili via the US market.

2️⃣ Earnings Watch

May is a massive month! I am keeping a close eye on these upcoming announcement dates:

🟢 JD.com: 12 May 2026 (Next Tuesday)

🟢 Alibaba: 13 May 2026 (Next Wednesday)

🟢 Bilibili: 19 May 2026

🟢 Xiaomi: 26 May 2026

The results and guidance from these giants will be crucial in shaping my strategy for the second half of the year.

3️⃣ Portfolio Reaction

I have not added any new positions this week. As of 8 May 2026, the portfolio is slightly in the green. Alibaba continues to be my star performer, sitting on a strong +25.37% gain, while JD.com is up +2.65%.

On the flip side, BYD has dipped -4.36%, with Bilibili (-2.09%) and Xiaomi (-0.28%) trading slightly below water. Fortunately, the solid gains in Alibaba are providing a great cushion.

4️⃣ Next Plan

I am looking to secure some gains. If the opportunity arises next week’s earnings, I plan to sell half of my JD.com position to lock in profits.

With current major markets at all-time highs, I want to increase my cash reserves to prepare for a potential downturn and buy high-quality companies at better valuations.

5️⃣ Risk Check

Concentration remains my main risk. My top two holdings representing over 66.4% of my capital. 😟

My exposure is heavily weighted toward Hong Kong and I am comfortable with this for now. At the meantime, I am actively looking out for global diversification opportunities.😉

$Alibaba(BABA.US) is integrating its Qwen AI into cars from partners including BYD, Geely, Li Auto, and the SAIC-Volkswagen joint venture. Debuted and highlighted at the Beijing Auto Show, the voice AI enables in-car capabilities like food ordering, hotel bookings, and payments.

@Bridge Buzz SG

$BYD COMPANY(01211.HK)

Today’s Singapore Business Times headline reads: “EVs make up about 60% of car registrations in Singapore; BYD accounts for nearly one in four new cars.” It ready caught my attention😁

I invest in what I can see and understand. BYD remains a strong conviction for me and I added more to my position again last week.😉

Let’s go my green dragon 🐉.

$BYD COMPANY(01211.HK)

Is the world’s top EV maker charging up for a rally or stalling out? I am bullish on BYD Company Ltd (1211.HK) 🚀

The 4H chart and fundamentals flash bullish signals. Here is the breakdown:

🔹 Technical Snapshot

I am using Kalman Trend Levels Indicator by BigBeluge to filter the price data using dual time frame analysis. This indicator filters out market noise to reveal true price action.

❤️ Kalman Trend Shift: Price just broke above the green Kalman cloud (HKD100.0–HKD101.2). This is a major bullish signal, suggesting the long-term downtrend from HKD140.0 has finally neutralized.

❤️ Support & Resistance: Strong floor at HKD90.0 (blue ‘D’ and ‘S’ icons). Upside resistance at HKD125.0 remains the “boss level” BYD must clear to confirm a new bull market.

❤️ RSI (Relative Strength Index): Currently at 56.91. Healthy buying interest without being “overbought” (>70). Plenty of runway left before hitting a ceiling.

❤️ Momentum: Green arrows show successful “buy” signals as price bounced off HKD101.2 support.

🔹 Fundamentals (The Global Pivot)

BYD’s latest results (March 27, 2026) highlight a company in transition:

❤️ Revenue vs. Profit Trap: 2025 revenue hit HKD800B, but net profit dropped ~19% due to China’s brutal price war squeezing margins.

❤️ Export Engine: Raised 2026 export target to 1.5M vehicles (from 1.3M). Overseas sales now ~40% of revenue. International margins are far stronger than domestic.

❤️ Innovation Moat: Blade Battery 2.0 + “Flash Charging” (10%→70% in 5 minutes). Tech leadership keeps BYD ahead of Tesla in NEV volume.

❤️ Dividend Note: Payout ratio cut to 10% to fund global factory expansion (Brazil, Hungary, SE Asia). Great for growth but less immediate passive income.

My Verdict

🟢 ACCUMULATE / BUY ON DIPS

👉 The 2025 profit dip looks priced in. You are buying a global leader at valuations reflecting domestic fears while ignoring massive international expansion.

$BYD COMPANY(01211.HK)

BYD is at a crossroads! Tomorrow earnings are their big test. Can they prove their status as a global EV powerhouse?🤔

Key Data Summary:

❤️Trailing P/E Ratio: 23.09

❤️Price to book ratio: 4.03

While the long-term vision is strong, the numbers tell a cautious story. With the stock trading near the top of its historical range (0.98 valuation percentile), there’s a lot of priced-in expectation. Watching closely to see if the international growth justifies the premium!

Why does Li Auto want to divert its energy to making glasses? Glasses seem more like an AI label to make up for the sales decline, including the previously independent app of Li Auto's assistant, which was all the rage at launch but has long been forgotten. I always feel that Li Auto's R&D investment is too obviously utilitarian. If a strategic direction is identified, it should be continuously invested in without a financial investment perspective.

For example, BYD's DMi sat on the bench for years, but the performance of the models launched after its release was significantly improved, and it succeeded in competing with Toyota and Volkswagen in China.

Where is Li Auto's focus on continuous investment? If it defines itself as an AI company, isn't smart cars themselves focused enough? Smart driving and chips are not in the first tier either.

As a contrast, I actually agree with NIO's investment in strategic directions, such as battery swapping and service ecosystems. These are moats that require long-term capital, manpower, and technology to build and are hard to replicate.@Future Trader Pi Kanchuan

$Li Auto(LI.US)$NIO Inc(NIO.US)