On January 16, analysts from Bernstein forecasted in a report that BYD's electric vehicle shipments might reach 5.4 million units over the course of this year. Last year, BYD delivered 4.6 million vehicles, marking an 8% increase compared to the previous year. While BYD continues to hold a dominant position in the Chinese electric vehicle market, its market share has declined, falling from 30% at the start of 2025 to 25% by November. Analysts point out that this downturn is mainly due to BYD's comparatively less impressive product cycle and the aggressive product rollouts by rivals like Geely, Leapmotor, and XPENG. In a bid to reinvigorate its product cycle, BYD intends to implement substantial upgrades to its electric vehicle platform technology this year. Moreover, overseas sales are poised to become a crucial factor in boosting its profitability, with exports projected to reach 1.05 million units in 2025. Bernstein has kept an 'Outperform' rating for BYD, setting a target price of HK$130.00.