$BYD COMPANY(01211.HK)

I have just added more BYD shares today. I am doubling down on my conviction.

Looking at the latest April 2026 global Price to Sales (P/S) data, the picture is clear:

1️⃣ Global Auto Manufacturers Avg: ~1.0x

2️⃣ Traditional OEMs (Toyota, VW, etc.): ~0.5x – 0.9x

3️⃣ Pure-Play EV Startups (NIO, XPeng, Li Auto): ~2.0x – 4.0x

4️⃣ BYD: ~1.1x

As the world’s #1 NEV seller by volume, BYD currently trades nearly in line with the mature traditional auto average (~1.0x P/S). This is not where a market leading tech-integrated EV player should be.

A ~1.1x P/S means the market is pricing BYD like a slow-growth legacy manufacturer.

The market is ignoring its leadership, scale, and battery tech edge. To me, this represents a deep discount and not fair value.

I see strong upside ahead and believe this is an attractive accumulation zone. Added more, staying convicted for the long run. 😁