0257 GMT - BYD will accelerate its overseas expansion in Southeast Asia and Europe, Morningstar analyst Vincent Sun writes in a note. The Chinese automaker's 1Q earnings were in line with expectations, but its vehicle margins remained under some pressure compared with a year earlier, he says. The pressure is likely due to aggressive price competition in China's EV market, he adds. Its vehicle export volume more than doubled in the quarter, contributing 21% to total vehicle sales compared with 16% a year earlier, he says. The brokerage raised its fair value estimate to HK$375 from HK$372 to reflect the time value of money. Shares were last at HK$375.00.(jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

April 28, 2025 22:57 ET (02:57 GMT)

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