ShinyHead
2021-07-01
Nio of cus!
NIO Vs BYD Auto: Which EV Stock Is A Good Buy?<blockquote>蔚来Vs比亚迪汽车：哪只电动汽车股票值得买入？</blockquote>
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Both could be attractive picks for the long run.That is about half as much as the gains experienced by NIO, but slightly more than the gains experienced by Tesla. Overall, a 300%","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul> <li>China is a leading EV market, and it looks like Chinese players will have it easier in their home market compared to foreign companies.</li> <li>Both NIO and BYD have attractive offerings on the market and employ strategies that differentiate them from competitors.</li> <li>NIO is the higher-growth pick, while BYD is the better value play. Both could be attractive picks for the long run.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/85f5123d1a2c682db80316343dba1e5b\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"><span>baona/iStock via Getty Images</span></p><p><blockquote><ul><li>中国是领先的电动汽车市场，与外国公司相比，中国企业在国内市场的日子似乎会更轻松。</li><li>蔚来和比亚迪在市场上都有有吸引力的产品，并采用了使其与竞争对手区分开来的策略。</li><li>蔚来是增长较高的选择，而比亚迪是价值较高的选择。从长远来看，两者都可能是有吸引力的选择。</li></ul><p class=\"t-img-caption\"><span>baona/iStock来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> EV stocks have been strong performers in 2020 on the back of strong market growth and helpful government policies. China has turned into one of the most important markets for electric vehicles, and since the Chinese government is oftentimes accommodating to Chinese companies, it makes sense to look among Chinese EV players for exposure to this high-growth market. Both BYD Company(OTCPK:BYDDY)(OTCPK:BYDDF)and NIO Inc.(NYSE:NIO)fit that description, and they both generate compelling growth and are on a strong trajectory. They differ, however, when it comes to the strategies they utilize in order to fuel growth, and there are differences in the respective valuation as well. Depending on your investment approach, you may either favor BYD or NIO.</p><p><blockquote>在强劲的市场增长和有益的政府政策的支持下，电动汽车股票在2020年表现强劲。中国已成为电动汽车最重要的市场之一，由于中国政府经常迁就中国公司，因此在中国电动汽车企业中寻找进入这个高增长市场的机会是有意义的。比亚迪公司（OTCPK：BYDDY）（OTCPK：BYDDF）和蔚来（纽约证券交易所股票代码：蔚来）都符合这一描述，它们都产生了引人注目的增长，并且正走在强劲的轨道上。然而，当谈到他们用来推动增长的策略时，他们是不同的，而且各自的估值也存在差异。根据您的投资方式，您可能会青睐比亚迪或蔚来。</blockquote></p><p> <b>NIO Stock Price</b></p><p><blockquote><b>蔚来股价</b></blockquote></p><p> NIO saw its shares rally massively over the last year, as they delivered gains of 600% in just twelve months:</p><p><blockquote>蔚来的股价在去年大幅上涨，短短12个月内就上涨了600%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f8bdb6f898b23023b1240e557370891c\" tg-width=\"635\" tg-height=\"417\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> This was easily more than what the broad market generated, and also outperformed peers such as Tesla(NASDAQ:TSLA), which gained about 240% over the same time frame. It should, however, be noted that NIO experienced a steep selloff in spring 2021, as its shares declined by close to 50% between January and May, before starting to climb again in recent weeks. When we take a look at current analyst price targets, NIO has an upside of around 20%, as analysts have a target price of $60, versus a current share price of $50.</p><p><blockquote>这轻松超过了大盘的表现，也跑赢了特斯拉（纳斯达克：TSLA）等同行，后者同期上涨了约240%。然而，应该指出的是，蔚来在2021年春季经历了大幅抛售，其股价在1月至5月期间下跌了近50%，然后在最近几周再次开始攀升。当我们看一下当前分析师的目标价时，蔚来的上涨空间约为20%，因为分析师的目标价为60美元，而当前股价为50美元。</blockquote></p><p> When looking at NIO's valuation, we can't really use an earnings multiple here, as NIO is not yet profitable. It is pretty clear, however, that NIO, with a market capitalization of $81 billion, is priced for a lot of future growth -- which holds true for other EV pureplays as well. For reference, that is a higher market capitalization than that of many legacy auto companies, including Ford(NYSE:F)and BMW(OTCPK:BMWYY), which indicates that NIO may be aggressively valued right here, considering that it sells way fewer cars than these two companies.</p><p><blockquote>在考虑蔚来的估值时，我们不能在这里真正使用市盈率，因为蔚来尚未盈利。然而，很明显，市值为810亿美元的蔚来有望实现未来的大幅增长——这也适用于其他纯电动汽车公司。作为参考，这比包括福特(NYSE：F)和宝马(OTCPK：BMWYY)在内的许多传统汽车公司的市值都要高，这表明蔚来的估值可能很高，因为它的销量要少得多。汽车比这两家公司。</blockquote></p><p> <b>BYDDY Stock Price</b></p><p><blockquote><b>比亚迪股价</b></blockquote></p><p> BYD Company has, like other EV players, benefitted a lot from growing EV enthusiasm over the last year, as its shares rose by 300% in twelve months:</p><p><blockquote>与其他电动汽车企业一样，比亚迪公司去年从电动汽车热情的高涨中受益匪浅，其股价在12个月内上涨了300%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d77e1b86412ba77229dd4779269265a\" tg-width=\"635\" tg-height=\"417\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> That is about half as much as the gains experienced by NIO, but slightly more than the gains experienced by Tesla. Overall, a 300% gain in one year is, of course, outstanding -- and investors should not expect this to repeat in future years. Like NIO, BYD has experienced a steep selloff in spring, but BYD has also recovered most of that in recent weeks. Unlike NIO, BYD is profitable already, although only marginally. Shares are trading for around 130x trailing earnings today, which isn't a low valuation at all, but which compares favorably to the valuations some other EV stocks are trading at, such as Tesla, which trades for more than 600x trailing net profits.</p><p><blockquote>这大约是蔚来收益的一半，但略高于特斯拉的收益。总体而言，一年内300%的涨幅当然是出色的——投资者不应期望这种情况在未来几年会重演。与蔚来一样，比亚迪在春季也经历了大幅抛售，但比亚迪在最近几周也恢复了大部分抛售。与蔚来不同，比亚迪已经实现盈利，尽管只是小幅盈利。目前，该股的交易价格约为往绩市盈率的130倍，这一点也不低，但与其他一些电动汽车股票的交易估值相比，这是有利的，例如特斯拉，其往绩净利润的600倍以上。</blockquote></p><p> <b>NIO Vs BYD Auto: Which Is The Better EV Stock?</b></p><p><blockquote><b>蔚来与比亚迪汽车：电动汽车股票哪个更好？</b></blockquote></p><p> The EV segment of the global automobile industry experiences rapid growth, and that naturally makes EV stocks attractive as growth investments. It should, however, be noted that valuations should always be considered when investing, and depending on the price one pays for a growth investment, it may take quite some time to see gains. Investors that chased high-growth tech stocks during the dot.com bubble, for example, had to wait years for their investments to pay off if they bought at the highs. All the growth in the EV space may thus be for naught if investors chase stocks and pay a price that is too high.</p><p><blockquote>全球汽车行业的电动汽车领域正在经历快速增长，这自然使得电动汽车股票作为成长型投资具有吸引力。然而，应该指出的是，投资时应始终考虑估值，根据一个人为成长型投资支付的价格，可能需要相当长的时间才能看到收益。例如，在互联网泡沫期间追逐高增长科技股的投资者，如果在高点买入，则必须等待数年才能获得投资回报。因此，如果投资者追逐股票并支付过高的价格，电动汽车领域的所有增长可能都将化为乌有。</blockquote></p><p> On top of that, the global automobile industry is, generally speaking, competitive, capital intensive, cyclical, and margins for most players are relatively low. That being said, the large growth runway for EVs means that quality EV companies will likely see their revenues and profits grow at a strong pace for many years, and thus a long-term oriented investor may still be intrigued by these stocks.</p><p><blockquote>最重要的是，一般来说，全球汽车行业竞争激烈、资本密集型、周期性，大多数参与者的利润率相对较低。话虽如此，电动汽车的巨大增长跑道意味着优质电动汽车公司的收入和利润可能会在许多年内强劲增长，因此长期投资者可能仍然对这些股票感兴趣。</blockquote></p><p></p><p> NIO and BYD are employing different strategies when it comes to the EV market, and both of those strategies have merit, I believe. NIO is focused on higher-end, quality passenger EVs that are primarily sold in China, although NIO is also entering the European car market this summer. The company offers a range of different models, from sports cars to SUVs. Due to strong built quality and the usage of high-end materials, NIO cars are seen as premium products worthy of a high price in China. NIO has, despite its relatively young history, managed to build a strong brand in its home market already, which positions the company well for future success in the Chinese EV space.</p><p><blockquote>蔚来和比亚迪在电动汽车市场采用了不同的策略，我相信这两种策略都有优点。蔚来专注于主要在中国销售的高端、优质乘用电动汽车，尽管蔚来也将于今年夏天进入欧洲汽车市场。该公司提供一系列不同的车型，从跑车到SUV。由于强大的制造质量和高端材料的使用，蔚来汽车在国内被视为值得高价的优质产品。尽管蔚来的历史相对年轻，但它已经成功地在国内市场建立了一个强大的品牌，这为该公司未来在中国电动汽车领域的成功奠定了良好的基础。</blockquote></p><p> NIO also offers a unique Battery-as-a-Service product that allows customers to swap batteries at NIO's battery-swapping stations. This reduces the time to recharge to a couple of minutes, which compares very favorably to the significantly longer charging times of other EV models. For those that are reluctant to buy an EV because they worry about a lot of downtime, NIO's cars could thus be an EV offering that they might still consider. I see this USP as a potential long-term growth driver for NIO that should help the company gain market share in this highly competitive market. It should, however, be noted that building out these battery-swapping stations in all relevant markets will cost a lot of money, thus capital expenditures for NIO will likely be higher than those of other EV players. NIO delivered 500%+ revenue growth in Q1 and will deliver strong revenue growth going forward, too:</p><p><blockquote>蔚来还提供独特的电池即服务产品，允许客户在蔚来的电池交换站更换电池。这将充电时间减少到几分钟，与其他电动汽车车型明显更长的充电时间相比非常有利。对于那些因为担心大量停机而不愿购买电动汽车的人来说，蔚来的汽车可能仍然是他们可能会考虑的电动汽车产品。我认为这一USP是蔚来潜在的长期增长动力，应该有助于该公司在这个竞争激烈的市场中获得市场份额。然而，应该指出的是，在所有相关市场建设这些电池交换站将花费大量资金，因此蔚来的资本支出可能会高于其他电动汽车公司。蔚来第一季度收入增长500%以上，未来也将实现强劲的收入增长：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cef4405a87e449cbbef819ea69e868d1\" tg-width=\"635\" tg-height=\"467\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Current consensus estimates call for a 125% revenue increase this year, while revenues will grow by 63% next year and by 47% in 2023. This represents strong growth and is significantly more than what analysts expect from the current market leader Tesla, although it should be noted that NIO is growing from a smaller base.</p><p><blockquote>目前的共识预计看涨期权今年的收入将增长125%，而明年的收入将增长63%，2023年将增长47%。这代表着强劲的增长，大大超过了分析师对当前市场领导者特斯拉的预期，尽管应该指出的是，蔚来的增长基础较小。</blockquote></p><p> BYD is a lesser-known Chinese EV player that is nevertheless pursuing an attractive strategy as well. BYD is not focused on higher-end passenger vehicles alone, but instead is offering a wide range of commercial EVs on top of that. Its offerings include electricity-powered trucks and electricity-powered busses, for example, which have a lot of potential over the coming years. Getting rid of diesel-powered busses could lead to better air quality in dense cities, and due to low average speeds and low average distances that are driven by busses, range is not too much of a concern. BYD is also offering other electric technologies, however, including a monorail system called Skyrail that is being built in China, but also in overseas markets such as Brazil.</p><p><blockquote>比亚迪是一家鲜为人知的中国电动汽车公司，但它也在追求一项有吸引力的战略。比亚迪不仅专注于高端乘用车，还在此基础上提供各种商用电动汽车。例如，其产品包括电动卡车和电动公共汽车，这些产品在未来几年具有很大的潜力。摆脱柴油动力公交车可能会改善人口稠密城市的空气质量，而且由于公交车行驶的平均速度和平均距离较低，续航里程并不是太大的问题。然而，比亚迪还提供其他电动技术，包括正在中国建造的名为Skyrail的单轨系统，但也在巴西等海外市场建造。</blockquote></p><p> BYD also is a major battery manufacturer, which naturally gives BYD exposure to the EV space as a whole. Even when other manufacturers are selling EVs, they oftentimes are not producing their own batteries, but instead they buy those from companies such as BYD. BYD can thus, unlike many other EV companies, also profit from the growth of its competitors. This is especially great since it is not yet known which EV company will ultimately lead the market a decade or two from now -- but it is guaranteed that the market leader will need batteries to manufacture its vehicles.</p><p><blockquote>比亚迪也是一家主要的电池制造商，这自然让比亚迪接触到了整个电动汽车领域。即使其他制造商销售电动汽车，他们也经常不生产自己的电池，而是从比亚迪等公司购买电池。因此，与许多其他电动汽车公司不同，比亚迪也可以从竞争对手的增长中获利。这一点尤其重要，因为目前尚不清楚哪家电动汽车公司将在十年或二十年后最终引领市场，但可以肯定的是，市场领导者将需要电池来制造其车辆。</blockquote></p><p> BYD does, however, also produce its own passenger EVs (hybrids and BEVs), which means that it is not solely a supplier. Its Han model has been quite successful in its home market, making BYD a lesser-known but pretty successful contender for EV market share. Unlike NIO, BYD is profitable already, and its valuation seems to be one of the lowest in the EV space. This is, I believe, at least partially the result of an understaffed investor relations department. Contrasting how much information (in English) is available on NIO with how much information English-speaking investors can get on BYD shows a wide discrepancy, which likely explains why NIO is followed more widely -- despite being the smaller company. BYD generated revenue of $22 billion in 2020, and that amount is forecasted to grow to $29 billion this year, and to $34 billion in 2022. BYD is thus forecasted to grow at a rate that is somewhat slower than NIO's growth rate, but BYD's forecasted revenue for 2022 is about 4x as high as that of NIO. It thus may come as a surprise that BYD's market capitalization of $100 billion is only slightly higher than that of NIO, despite being a much larger, and more profitable, enterprise. Once again, I believe that this is at least partially caused by the fact that BYD is just not as well-known outside of China, and that many retail investors thus flock to the better-known, more prominent NIO.</p><p><blockquote>然而，比亚迪也生产自己的乘用电动汽车（混合动力汽车和纯电动汽车），这意味着它不仅仅是一家供应商。其汉车型在国内市场相当成功，使比亚迪成为电动汽车市场份额的鲜为人知但相当成功的竞争者。与蔚来不同，比亚迪已经实现盈利，其估值似乎是电动汽车领域最低的之一。我认为，这至少部分是投资者关系部门人手不足的结果。将蔚来上提供的信息（英文）数量与讲英语的投资者可以获得的有关比亚迪的信息数量进行对比，显示出巨大的差异，这可能解释了为什么蔚来受到更广泛的关注——尽管它是一家规模较小的公司。比亚迪2020年营收为220亿美元，预计今年将增长至290亿美元，2022年将增长至340亿美元。因此，预计比亚迪的增长速度将略慢于蔚来的增长速度，但比亚迪2022年的预测收入约为蔚来的4倍。因此，尽管比亚迪是一家规模更大、利润更高的企业，但其1000亿美元的市值仅略高于蔚来，这可能会令人惊讶。我再次认为，这至少部分是由于比亚迪在中国以外的知名度不高，因此许多散户投资者涌向更知名、更知名的蔚来。</blockquote></p><p> <b>Should You Buy NIO Or BYD Auto</b></p><p><blockquote><b>你应该买蔚来还是比亚迪汽车</b></blockquote></p><p></p><p> As stated earlier, investing in high-growth companies will not automatically lead to steep returns, as valuations play a major role as well. NIO is the higher-growth pick, and its BaaS service and strong brand position it well for future success, I believe. On the other hand, NIO's shares are quite expensive, trading for close to 10x next year's revenue right now. BYD is a lower-growth pick, but its diversified operations across passenger EVs, commercial EVs, and its battery business will likely lead to ample revenue and earnings growth for many years nevertheless. BYD is, as one of just a few EV players profitable already, which naturally is a major plus, and BYD's much lower valuation also makes shares look attractive. Shares trade for ~3x next year's revenue, which does not seem unreasonable, considering that many other EV stocks are trading for 10x revenue or even more. The fact that BYD is backed by Buffett's Berkshire(NYSE:BRK.A)(NYSE:BRK.B)is also a nice-to-have.</p><p><blockquote>如前所述，投资高增长公司不会自动带来丰厚的回报，因为估值也发挥着重要作用。我相信，蔚来是增长较高的选择，其BaaS服务和强大的品牌为其未来的成功奠定了良好的基础。另一方面，蔚来的股价相当昂贵，目前的交易价格接近明年收入的10倍。比亚迪是一个增长较低的选择，但其在乘用电动汽车、商用电动汽车和电池业务方面的多元化业务可能会在许多年内带来充足的收入和盈利增长。比亚迪是少数几家已经盈利的电动汽车公司之一，这自然是一个主要优势，而且比亚迪低得多的估值也使其股价看起来很有吸引力。股票交易价格约为明年收入的3倍，考虑到许多其他电动汽车股票的交易价格为10倍甚至更高，这似乎并非不合理。比亚迪得到巴菲特旗下伯克希尔哈撒韦公司（纽约证券交易所股票代码：BRK.A）（纽约证券交易所股票代码：BRK.B）的支持也是一件好事。</blockquote></p><p> Depending on whether you prioritize growth or value, you may either prefer NIO or BYD -- both companies seem like picks with ample long-term potential, although neither are guaranteed winners, which is why don't rate either a screaming buy.</p><p><blockquote>根据您优先考虑增长还是价值，您可能更喜欢蔚来或比亚迪——这两家公司似乎都是具有充足长期潜力的选择，尽管它们都不是保证的赢家，这就是为什么不要对任何一家进行尖叫买入评级。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO Vs BYD Auto: Which EV Stock Is A Good Buy?<blockquote>蔚来Vs比亚迪汽车：哪只电动汽车股票值得买入？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO Vs BYD Auto: Which EV Stock Is A Good Buy?<blockquote>蔚来Vs比亚迪汽车：哪只电动汽车股票值得买入？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-01 22:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul> <li>China is a leading EV market, and it looks like Chinese players will have it easier in their home market compared to foreign companies.</li> <li>Both NIO and BYD have attractive offerings on the market and employ strategies that differentiate them from competitors.</li> <li>NIO is the higher-growth pick, while BYD is the better value play. Both could be attractive picks for the long run.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/85f5123d1a2c682db80316343dba1e5b\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"><span>baona/iStock via Getty Images</span></p><p><blockquote><ul><li>中国是领先的电动汽车市场，与外国公司相比，中国企业在国内市场的日子似乎会更轻松。</li><li>蔚来和比亚迪在市场上都有有吸引力的产品，并采用了使其与竞争对手区分开来的策略。</li><li>蔚来是增长较高的选择，而比亚迪是价值较高的选择。从长远来看，两者都可能是有吸引力的选择。</li></ul><p class=\"t-img-caption\"><span>baona/iStock来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> EV stocks have been strong performers in 2020 on the back of strong market growth and helpful government policies. China has turned into one of the most important markets for electric vehicles, and since the Chinese government is oftentimes accommodating to Chinese companies, it makes sense to look among Chinese EV players for exposure to this high-growth market. Both BYD Company(OTCPK:BYDDY)(OTCPK:BYDDF)and NIO Inc.(NYSE:NIO)fit that description, and they both generate compelling growth and are on a strong trajectory. They differ, however, when it comes to the strategies they utilize in order to fuel growth, and there are differences in the respective valuation as well. Depending on your investment approach, you may either favor BYD or NIO.</p><p><blockquote>在强劲的市场增长和有益的政府政策的支持下，电动汽车股票在2020年表现强劲。中国已成为电动汽车最重要的市场之一，由于中国政府经常迁就中国公司，因此在中国电动汽车企业中寻找进入这个高增长市场的机会是有意义的。比亚迪公司（OTCPK：BYDDY）（OTCPK：BYDDF）和蔚来（纽约证券交易所股票代码：蔚来）都符合这一描述，它们都产生了引人注目的增长，并且正走在强劲的轨道上。然而，当谈到他们用来推动增长的策略时，他们是不同的，而且各自的估值也存在差异。根据您的投资方式，您可能会青睐比亚迪或蔚来。</blockquote></p><p> <b>NIO Stock Price</b></p><p><blockquote><b>蔚来股价</b></blockquote></p><p> NIO saw its shares rally massively over the last year, as they delivered gains of 600% in just twelve months:</p><p><blockquote>蔚来的股价在去年大幅上涨，短短12个月内就上涨了600%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f8bdb6f898b23023b1240e557370891c\" tg-width=\"635\" tg-height=\"417\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> This was easily more than what the broad market generated, and also outperformed peers such as Tesla(NASDAQ:TSLA), which gained about 240% over the same time frame. It should, however, be noted that NIO experienced a steep selloff in spring 2021, as its shares declined by close to 50% between January and May, before starting to climb again in recent weeks. When we take a look at current analyst price targets, NIO has an upside of around 20%, as analysts have a target price of $60, versus a current share price of $50.</p><p><blockquote>这轻松超过了大盘的表现，也跑赢了特斯拉（纳斯达克：TSLA）等同行，后者同期上涨了约240%。然而，应该指出的是，蔚来在2021年春季经历了大幅抛售，其股价在1月至5月期间下跌了近50%，然后在最近几周再次开始攀升。当我们看一下当前分析师的目标价时，蔚来的上涨空间约为20%，因为分析师的目标价为60美元，而当前股价为50美元。</blockquote></p><p> When looking at NIO's valuation, we can't really use an earnings multiple here, as NIO is not yet profitable. It is pretty clear, however, that NIO, with a market capitalization of $81 billion, is priced for a lot of future growth -- which holds true for other EV pureplays as well. For reference, that is a higher market capitalization than that of many legacy auto companies, including Ford(NYSE:F)and BMW(OTCPK:BMWYY), which indicates that NIO may be aggressively valued right here, considering that it sells way fewer cars than these two companies.</p><p><blockquote>在考虑蔚来的估值时，我们不能在这里真正使用市盈率，因为蔚来尚未盈利。然而，很明显，市值为810亿美元的蔚来有望实现未来的大幅增长——这也适用于其他纯电动汽车公司。作为参考，这比包括福特(NYSE：F)和宝马(OTCPK：BMWYY)在内的许多传统汽车公司的市值都要高，这表明蔚来的估值可能很高，因为它的销量要少得多。汽车比这两家公司。</blockquote></p><p> <b>BYDDY Stock Price</b></p><p><blockquote><b>比亚迪股价</b></blockquote></p><p> BYD Company has, like other EV players, benefitted a lot from growing EV enthusiasm over the last year, as its shares rose by 300% in twelve months:</p><p><blockquote>与其他电动汽车企业一样，比亚迪公司去年从电动汽车热情的高涨中受益匪浅，其股价在12个月内上涨了300%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d77e1b86412ba77229dd4779269265a\" tg-width=\"635\" tg-height=\"417\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> That is about half as much as the gains experienced by NIO, but slightly more than the gains experienced by Tesla. Overall, a 300% gain in one year is, of course, outstanding -- and investors should not expect this to repeat in future years. Like NIO, BYD has experienced a steep selloff in spring, but BYD has also recovered most of that in recent weeks. Unlike NIO, BYD is profitable already, although only marginally. Shares are trading for around 130x trailing earnings today, which isn't a low valuation at all, but which compares favorably to the valuations some other EV stocks are trading at, such as Tesla, which trades for more than 600x trailing net profits.</p><p><blockquote>这大约是蔚来收益的一半，但略高于特斯拉的收益。总体而言，一年内300%的涨幅当然是出色的——投资者不应期望这种情况在未来几年会重演。与蔚来一样，比亚迪在春季也经历了大幅抛售，但比亚迪在最近几周也恢复了大部分抛售。与蔚来不同，比亚迪已经实现盈利，尽管只是小幅盈利。目前，该股的交易价格约为往绩市盈率的130倍，这一点也不低，但与其他一些电动汽车股票的交易估值相比，这是有利的，例如特斯拉，其往绩净利润的600倍以上。</blockquote></p><p> <b>NIO Vs BYD Auto: Which Is The Better EV Stock?</b></p><p><blockquote><b>蔚来与比亚迪汽车：电动汽车股票哪个更好？</b></blockquote></p><p> The EV segment of the global automobile industry experiences rapid growth, and that naturally makes EV stocks attractive as growth investments. It should, however, be noted that valuations should always be considered when investing, and depending on the price one pays for a growth investment, it may take quite some time to see gains. Investors that chased high-growth tech stocks during the dot.com bubble, for example, had to wait years for their investments to pay off if they bought at the highs. All the growth in the EV space may thus be for naught if investors chase stocks and pay a price that is too high.</p><p><blockquote>全球汽车行业的电动汽车领域正在经历快速增长，这自然使得电动汽车股票作为成长型投资具有吸引力。然而，应该指出的是，投资时应始终考虑估值，根据一个人为成长型投资支付的价格，可能需要相当长的时间才能看到收益。例如，在互联网泡沫期间追逐高增长科技股的投资者，如果在高点买入，则必须等待数年才能获得投资回报。因此，如果投资者追逐股票并支付过高的价格，电动汽车领域的所有增长可能都将化为乌有。</blockquote></p><p> On top of that, the global automobile industry is, generally speaking, competitive, capital intensive, cyclical, and margins for most players are relatively low. That being said, the large growth runway for EVs means that quality EV companies will likely see their revenues and profits grow at a strong pace for many years, and thus a long-term oriented investor may still be intrigued by these stocks.</p><p><blockquote>最重要的是，一般来说，全球汽车行业竞争激烈、资本密集型、周期性，大多数参与者的利润率相对较低。话虽如此，电动汽车的巨大增长跑道意味着优质电动汽车公司的收入和利润可能会在许多年内强劲增长，因此长期投资者可能仍然对这些股票感兴趣。</blockquote></p><p></p><p> NIO and BYD are employing different strategies when it comes to the EV market, and both of those strategies have merit, I believe. NIO is focused on higher-end, quality passenger EVs that are primarily sold in China, although NIO is also entering the European car market this summer. The company offers a range of different models, from sports cars to SUVs. Due to strong built quality and the usage of high-end materials, NIO cars are seen as premium products worthy of a high price in China. NIO has, despite its relatively young history, managed to build a strong brand in its home market already, which positions the company well for future success in the Chinese EV space.</p><p><blockquote>蔚来和比亚迪在电动汽车市场采用了不同的策略，我相信这两种策略都有优点。蔚来专注于主要在中国销售的高端、优质乘用电动汽车，尽管蔚来也将于今年夏天进入欧洲汽车市场。该公司提供一系列不同的车型，从跑车到SUV。由于强大的制造质量和高端材料的使用，蔚来汽车在国内被视为值得高价的优质产品。尽管蔚来的历史相对年轻，但它已经成功地在国内市场建立了一个强大的品牌，这为该公司未来在中国电动汽车领域的成功奠定了良好的基础。</blockquote></p><p> NIO also offers a unique Battery-as-a-Service product that allows customers to swap batteries at NIO's battery-swapping stations. This reduces the time to recharge to a couple of minutes, which compares very favorably to the significantly longer charging times of other EV models. For those that are reluctant to buy an EV because they worry about a lot of downtime, NIO's cars could thus be an EV offering that they might still consider. I see this USP as a potential long-term growth driver for NIO that should help the company gain market share in this highly competitive market. It should, however, be noted that building out these battery-swapping stations in all relevant markets will cost a lot of money, thus capital expenditures for NIO will likely be higher than those of other EV players. NIO delivered 500%+ revenue growth in Q1 and will deliver strong revenue growth going forward, too:</p><p><blockquote>蔚来还提供独特的电池即服务产品，允许客户在蔚来的电池交换站更换电池。这将充电时间减少到几分钟，与其他电动汽车车型明显更长的充电时间相比非常有利。对于那些因为担心大量停机而不愿购买电动汽车的人来说，蔚来的汽车可能仍然是他们可能会考虑的电动汽车产品。我认为这一USP是蔚来潜在的长期增长动力，应该有助于该公司在这个竞争激烈的市场中获得市场份额。然而，应该指出的是，在所有相关市场建设这些电池交换站将花费大量资金，因此蔚来的资本支出可能会高于其他电动汽车公司。蔚来第一季度收入增长500%以上，未来也将实现强劲的收入增长：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cef4405a87e449cbbef819ea69e868d1\" tg-width=\"635\" tg-height=\"467\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Current consensus estimates call for a 125% revenue increase this year, while revenues will grow by 63% next year and by 47% in 2023. This represents strong growth and is significantly more than what analysts expect from the current market leader Tesla, although it should be noted that NIO is growing from a smaller base.</p><p><blockquote>目前的共识预计看涨期权今年的收入将增长125%，而明年的收入将增长63%，2023年将增长47%。这代表着强劲的增长，大大超过了分析师对当前市场领导者特斯拉的预期，尽管应该指出的是，蔚来的增长基础较小。</blockquote></p><p> BYD is a lesser-known Chinese EV player that is nevertheless pursuing an attractive strategy as well. BYD is not focused on higher-end passenger vehicles alone, but instead is offering a wide range of commercial EVs on top of that. Its offerings include electricity-powered trucks and electricity-powered busses, for example, which have a lot of potential over the coming years. Getting rid of diesel-powered busses could lead to better air quality in dense cities, and due to low average speeds and low average distances that are driven by busses, range is not too much of a concern. BYD is also offering other electric technologies, however, including a monorail system called Skyrail that is being built in China, but also in overseas markets such as Brazil.</p><p><blockquote>比亚迪是一家鲜为人知的中国电动汽车公司，但它也在追求一项有吸引力的战略。比亚迪不仅专注于高端乘用车，还在此基础上提供各种商用电动汽车。例如，其产品包括电动卡车和电动公共汽车，这些产品在未来几年具有很大的潜力。摆脱柴油动力公交车可能会改善人口稠密城市的空气质量，而且由于公交车行驶的平均速度和平均距离较低，续航里程并不是太大的问题。然而，比亚迪还提供其他电动技术，包括正在中国建造的名为Skyrail的单轨系统，但也在巴西等海外市场建造。</blockquote></p><p> BYD also is a major battery manufacturer, which naturally gives BYD exposure to the EV space as a whole. Even when other manufacturers are selling EVs, they oftentimes are not producing their own batteries, but instead they buy those from companies such as BYD. BYD can thus, unlike many other EV companies, also profit from the growth of its competitors. This is especially great since it is not yet known which EV company will ultimately lead the market a decade or two from now -- but it is guaranteed that the market leader will need batteries to manufacture its vehicles.</p><p><blockquote>比亚迪也是一家主要的电池制造商，这自然让比亚迪接触到了整个电动汽车领域。即使其他制造商销售电动汽车，他们也经常不生产自己的电池，而是从比亚迪等公司购买电池。因此，与许多其他电动汽车公司不同，比亚迪也可以从竞争对手的增长中获利。这一点尤其重要，因为目前尚不清楚哪家电动汽车公司将在十年或二十年后最终引领市场，但可以肯定的是，市场领导者将需要电池来制造其车辆。</blockquote></p><p> BYD does, however, also produce its own passenger EVs (hybrids and BEVs), which means that it is not solely a supplier. Its Han model has been quite successful in its home market, making BYD a lesser-known but pretty successful contender for EV market share. Unlike NIO, BYD is profitable already, and its valuation seems to be one of the lowest in the EV space. This is, I believe, at least partially the result of an understaffed investor relations department. Contrasting how much information (in English) is available on NIO with how much information English-speaking investors can get on BYD shows a wide discrepancy, which likely explains why NIO is followed more widely -- despite being the smaller company. BYD generated revenue of $22 billion in 2020, and that amount is forecasted to grow to $29 billion this year, and to $34 billion in 2022. BYD is thus forecasted to grow at a rate that is somewhat slower than NIO's growth rate, but BYD's forecasted revenue for 2022 is about 4x as high as that of NIO. It thus may come as a surprise that BYD's market capitalization of $100 billion is only slightly higher than that of NIO, despite being a much larger, and more profitable, enterprise. Once again, I believe that this is at least partially caused by the fact that BYD is just not as well-known outside of China, and that many retail investors thus flock to the better-known, more prominent NIO.</p><p><blockquote>然而，比亚迪也生产自己的乘用电动汽车（混合动力汽车和纯电动汽车），这意味着它不仅仅是一家供应商。其汉车型在国内市场相当成功，使比亚迪成为电动汽车市场份额的鲜为人知但相当成功的竞争者。与蔚来不同，比亚迪已经实现盈利，其估值似乎是电动汽车领域最低的之一。我认为，这至少部分是投资者关系部门人手不足的结果。将蔚来上提供的信息（英文）数量与讲英语的投资者可以获得的有关比亚迪的信息数量进行对比，显示出巨大的差异，这可能解释了为什么蔚来受到更广泛的关注——尽管它是一家规模较小的公司。比亚迪2020年营收为220亿美元，预计今年将增长至290亿美元，2022年将增长至340亿美元。因此，预计比亚迪的增长速度将略慢于蔚来的增长速度，但比亚迪2022年的预测收入约为蔚来的4倍。因此，尽管比亚迪是一家规模更大、利润更高的企业，但其1000亿美元的市值仅略高于蔚来，这可能会令人惊讶。我再次认为，这至少部分是由于比亚迪在中国以外的知名度不高，因此许多散户投资者涌向更知名、更知名的蔚来。</blockquote></p><p> <b>Should You Buy NIO Or BYD Auto</b></p><p><blockquote><b>你应该买蔚来还是比亚迪汽车</b></blockquote></p><p></p><p> As stated earlier, investing in high-growth companies will not automatically lead to steep returns, as valuations play a major role as well. NIO is the higher-growth pick, and its BaaS service and strong brand position it well for future success, I believe. On the other hand, NIO's shares are quite expensive, trading for close to 10x next year's revenue right now. BYD is a lower-growth pick, but its diversified operations across passenger EVs, commercial EVs, and its battery business will likely lead to ample revenue and earnings growth for many years nevertheless. BYD is, as one of just a few EV players profitable already, which naturally is a major plus, and BYD's much lower valuation also makes shares look attractive. Shares trade for ~3x next year's revenue, which does not seem unreasonable, considering that many other EV stocks are trading for 10x revenue or even more. The fact that BYD is backed by Buffett's Berkshire(NYSE:BRK.A)(NYSE:BRK.B)is also a nice-to-have.</p><p><blockquote>如前所述，投资高增长公司不会自动带来丰厚的回报，因为估值也发挥着重要作用。我相信，蔚来是增长较高的选择，其BaaS服务和强大的品牌为其未来的成功奠定了良好的基础。另一方面，蔚来的股价相当昂贵，目前的交易价格接近明年收入的10倍。比亚迪是一个增长较低的选择，但其在乘用电动汽车、商用电动汽车和电池业务方面的多元化业务可能会在许多年内带来充足的收入和盈利增长。比亚迪是少数几家已经盈利的电动汽车公司之一，这自然是一个主要优势，而且比亚迪低得多的估值也使其股价看起来很有吸引力。股票交易价格约为明年收入的3倍，考虑到许多其他电动汽车股票的交易价格为10倍甚至更高，这似乎并非不合理。比亚迪得到巴菲特旗下伯克希尔哈撒韦公司（纽约证券交易所股票代码：BRK.A）（纽约证券交易所股票代码：BRK.B）的支持也是一件好事。</blockquote></p><p> Depending on whether you prioritize growth or value, you may either prefer NIO or BYD -- both companies seem like picks with ample long-term potential, although neither are guaranteed winners, which is why don't rate either a screaming buy.</p><p><blockquote>根据您优先考虑增长还是价值，您可能更喜欢蔚来或比亚迪——这两家公司似乎都是具有充足长期潜力的选择，尽管它们都不是保证的赢家，这就是为什么不要对任何一家进行尖叫买入评级。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4437449-nio-vs-byd-ev-stock-good-buy\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"002594":"比亚迪","BYDDY":"比亚迪ADR","01211":"比亚迪股份","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4437449-nio-vs-byd-ev-stock-good-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131141642","content_text":"Summary\n\nChina is a leading EV market, and it looks like Chinese players will have it easier in their home market compared to foreign companies.\nBoth NIO and BYD have attractive offerings on the market and employ strategies that differentiate them from competitors.\nNIO is the higher-growth pick, while BYD is the better value play. Both could be attractive picks for the long run.\n\nbaona/iStock via Getty Images\nArticle Thesis\nEV stocks have been strong performers in 2020 on the back of strong market growth and helpful government policies. China has turned into one of the most important markets for electric vehicles, and since the Chinese government is oftentimes accommodating to Chinese companies, it makes sense to look among Chinese EV players for exposure to this high-growth market. Both BYD Company(OTCPK:BYDDY)(OTCPK:BYDDF)and NIO Inc.(NYSE:NIO)fit that description, and they both generate compelling growth and are on a strong trajectory. They differ, however, when it comes to the strategies they utilize in order to fuel growth, and there are differences in the respective valuation as well. Depending on your investment approach, you may either favor BYD or NIO.\nNIO Stock Price\nNIO saw its shares rally massively over the last year, as they delivered gains of 600% in just twelve months:\nData by YCharts\nThis was easily more than what the broad market generated, and also outperformed peers such as Tesla(NASDAQ:TSLA), which gained about 240% over the same time frame. It should, however, be noted that NIO experienced a steep selloff in spring 2021, as its shares declined by close to 50% between January and May, before starting to climb again in recent weeks. When we take a look at current analyst price targets, NIO has an upside of around 20%, as analysts have a target price of $60, versus a current share price of $50.\nWhen looking at NIO's valuation, we can't really use an earnings multiple here, as NIO is not yet profitable. It is pretty clear, however, that NIO, with a market capitalization of $81 billion, is priced for a lot of future growth -- which holds true for other EV pureplays as well. For reference, that is a higher market capitalization than that of many legacy auto companies, including Ford(NYSE:F)and BMW(OTCPK:BMWYY), which indicates that NIO may be aggressively valued right here, considering that it sells way fewer cars than these two companies.\nBYDDY Stock Price\nBYD Company has, like other EV players, benefitted a lot from growing EV enthusiasm over the last year, as its shares rose by 300% in twelve months:\nData by YCharts\nThat is about half as much as the gains experienced by NIO, but slightly more than the gains experienced by Tesla. Overall, a 300% gain in one year is, of course, outstanding -- and investors should not expect this to repeat in future years. Like NIO, BYD has experienced a steep selloff in spring, but BYD has also recovered most of that in recent weeks. Unlike NIO, BYD is profitable already, although only marginally. Shares are trading for around 130x trailing earnings today, which isn't a low valuation at all, but which compares favorably to the valuations some other EV stocks are trading at, such as Tesla, which trades for more than 600x trailing net profits.\nNIO Vs BYD Auto: Which Is The Better EV Stock?\nThe EV segment of the global automobile industry experiences rapid growth, and that naturally makes EV stocks attractive as growth investments. It should, however, be noted that valuations should always be considered when investing, and depending on the price one pays for a growth investment, it may take quite some time to see gains. Investors that chased high-growth tech stocks during the dot.com bubble, for example, had to wait years for their investments to pay off if they bought at the highs. All the growth in the EV space may thus be for naught if investors chase stocks and pay a price that is too high.\nOn top of that, the global automobile industry is, generally speaking, competitive, capital intensive, cyclical, and margins for most players are relatively low. That being said, the large growth runway for EVs means that quality EV companies will likely see their revenues and profits grow at a strong pace for many years, and thus a long-term oriented investor may still be intrigued by these stocks.\nNIO and BYD are employing different strategies when it comes to the EV market, and both of those strategies have merit, I believe. NIO is focused on higher-end, quality passenger EVs that are primarily sold in China, although NIO is also entering the European car market this summer. The company offers a range of different models, from sports cars to SUVs. Due to strong built quality and the usage of high-end materials, NIO cars are seen as premium products worthy of a high price in China. NIO has, despite its relatively young history, managed to build a strong brand in its home market already, which positions the company well for future success in the Chinese EV space.\nNIO also offers a unique Battery-as-a-Service product that allows customers to swap batteries at NIO's battery-swapping stations. This reduces the time to recharge to a couple of minutes, which compares very favorably to the significantly longer charging times of other EV models. For those that are reluctant to buy an EV because they worry about a lot of downtime, NIO's cars could thus be an EV offering that they might still consider. I see this USP as a potential long-term growth driver for NIO that should help the company gain market share in this highly competitive market. It should, however, be noted that building out these battery-swapping stations in all relevant markets will cost a lot of money, thus capital expenditures for NIO will likely be higher than those of other EV players. NIO delivered 500%+ revenue growth in Q1 and will deliver strong revenue growth going forward, too:\nData by YCharts\nCurrent consensus estimates call for a 125% revenue increase this year, while revenues will grow by 63% next year and by 47% in 2023. This represents strong growth and is significantly more than what analysts expect from the current market leader Tesla, although it should be noted that NIO is growing from a smaller base.\nBYD is a lesser-known Chinese EV player that is nevertheless pursuing an attractive strategy as well. BYD is not focused on higher-end passenger vehicles alone, but instead is offering a wide range of commercial EVs on top of that. Its offerings include electricity-powered trucks and electricity-powered busses, for example, which have a lot of potential over the coming years. Getting rid of diesel-powered busses could lead to better air quality in dense cities, and due to low average speeds and low average distances that are driven by busses, range is not too much of a concern. BYD is also offering other electric technologies, however, including a monorail system called Skyrail that is being built in China, but also in overseas markets such as Brazil.\nBYD also is a major battery manufacturer, which naturally gives BYD exposure to the EV space as a whole. Even when other manufacturers are selling EVs, they oftentimes are not producing their own batteries, but instead they buy those from companies such as BYD. BYD can thus, unlike many other EV companies, also profit from the growth of its competitors. This is especially great since it is not yet known which EV company will ultimately lead the market a decade or two from now -- but it is guaranteed that the market leader will need batteries to manufacture its vehicles.\nBYD does, however, also produce its own passenger EVs (hybrids and BEVs), which means that it is not solely a supplier. Its Han model has been quite successful in its home market, making BYD a lesser-known but pretty successful contender for EV market share. Unlike NIO, BYD is profitable already, and its valuation seems to be one of the lowest in the EV space. This is, I believe, at least partially the result of an understaffed investor relations department. Contrasting how much information (in English) is available on NIO with how much information English-speaking investors can get on BYD shows a wide discrepancy, which likely explains why NIO is followed more widely -- despite being the smaller company. BYD generated revenue of $22 billion in 2020, and that amount is forecasted to grow to $29 billion this year, and to $34 billion in 2022. BYD is thus forecasted to grow at a rate that is somewhat slower than NIO's growth rate, but BYD's forecasted revenue for 2022 is about 4x as high as that of NIO. It thus may come as a surprise that BYD's market capitalization of $100 billion is only slightly higher than that of NIO, despite being a much larger, and more profitable, enterprise. Once again, I believe that this is at least partially caused by the fact that BYD is just not as well-known outside of China, and that many retail investors thus flock to the better-known, more prominent NIO.\nShould You Buy NIO Or BYD Auto\nAs stated earlier, investing in high-growth companies will not automatically lead to steep returns, as valuations play a major role as well. NIO is the higher-growth pick, and its BaaS service and strong brand position it well for future success, I believe. On the other hand, NIO's shares are quite expensive, trading for close to 10x next year's revenue right now. BYD is a lower-growth pick, but its diversified operations across passenger EVs, commercial EVs, and its battery business will likely lead to ample revenue and earnings growth for many years nevertheless. BYD is, as one of just a few EV players profitable already, which naturally is a major plus, and BYD's much lower valuation also makes shares look attractive. Shares trade for ~3x next year's revenue, which does not seem unreasonable, considering that many other EV stocks are trading for 10x revenue or even more. The fact that BYD is backed by Buffett's Berkshire(NYSE:BRK.A)(NYSE:BRK.B)is also a nice-to-have.\nDepending on whether you prioritize growth or value, you may either prefer NIO or BYD -- both companies seem like picks with ample long-term potential, although neither are guaranteed winners, which is why don't rate either a screaming buy.","news_type":1,"symbols_score_info":{"01211":0.9,"BYDDY":0.9,"002594":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":701,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":9,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/158224506"}
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