June 20, BYD (002 594) 64 million A shares, will purchase the Shenzhen Stock Exchange online trading system.

    To raise funds than expected

    BYD currently engaged in rechargeable batteries, mobile phone parts and assembly operations, and includes conventional fuel vehicles and new energy vehicles, including the automotive business, while taking advantage of its technological advantages to actively explore new areas related to energy products business. The number of issued shares of $ 79 million, including net shares issued under the number 1500, 6400 online issue of the number of shares to raise funds will be used for car research and production base in Shenzhen projects. The issue price is 18 yuan / share, price-earnings ratio of 20.47 times.

    If the issue goes well, BYD actual amount of funds raised of 14.22 billion yuan less than in June 7 in the evening in the prospectus published 2.192 billion yuan.

    H-share issue price below the current price

    Before The lead underwriter UBS Securities issued range of inquiry is given from 21.08 to 30.81 yuan.

    Many analysts said in a research report, BYD electric vehicle market prospects, its vertical integration to reduce costs, BYD is expected to have higher future earnings growth, deserves a premium. However, given the range of inquiry UBS Securities over-estimated. And 18 yuan / share issue price, mainly based on the preliminary inquiry and the company's fundamentals, which the industry, the level of market valuation of comparable companies, raising capital requirements and other factors determine.

    "BYD in the A share issue price is lower than the current price of H shares, and 20.47 times its earnings release is not high, investors should purchase." Room quiet Northeast Securities analyst, said.

    Part of the strong lithium stocks

    Yesterday, today, by BYD will be an online purchase of, A-share market in the part of the lithium stocks, such as integration into the flight, Lu Xiang shares and ST Chunlan be strong, as yesterday, the highlight of the market adjustment process lies.

    To the closing day, integrated into the fly to close at 32.07 yuan, up 2.07 yuan, or 6.9%; Lu Xiang shares closed at 21.56 yuan, up 1.96 yuan, or 10%; ST Chunlan to close at 5.76 yuan, up 0.27 yuan, the daily limit to close.

    "A-share stock market in the lithium battery industry can be classified as emerging concept is the future market, one of the major hot plate while BYD Li-ion battery industry is undoubtedly among the leading domestic enterprises, is expected to return to A in BYD shares under the influence of market opportunities related to lithium stocks stage presence. "proper Northeast Securities analyst Zhang Zhao said.