金吾财讯 | 花旗发表研究报告指，比亚迪(01211)在港配售近1.3亿股，预料造成约4.1%的股份稀释，预计所得资金将用于比亚迪主要会将融资所得用于支持海外扩张、研发、补充营运资金以及一般企业用途。花旗指，比亚迪今次股权融资预料带来正面影响，主因是该公司虽然在国内拥有大量自由现金流和净现金，但要将资金兑换成境外货币既不灵活，成本亦高昂，因此通过在港配售筹措境外资金是具灵活性的做法，预测比亚迪2025至2027年各年海外资产回报率达16.2%、22.5%及28.7%。该行指，比亚迪有能力在人工智能及机械人发展早期阶段“烧钱”，同时亦可开展大规模海外扩张，继续与吉利汽车(00175)并列行业首选，评级“买入”，予比亚迪H股目标价688港元。
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