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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  BYD Company Limited    002594   CNE100001526

BYD COMPANY LIMITED

(002594)
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End-of-day quote. End-of-day quote SHENZHEN STOCK EXCHANGE - 03/24
49.73 CNY   +3.28%
03/25BYD COMPANY LIMITED : annual earnings release
03/06BYD : Voluntary announcement sales volume for february 2020
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03/06BYD : February Vehicle Sales Slumped Amid Virus Disruptions
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Charlie Munger praises China, laments dying newspapers, won't buy or short Tesla

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02/12/2020 | 03:32pm EDT
FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett (left) and Vice Chairman Charlie Munger at the annual Berkshire shareholder shopping day in Omaha

Charlie Munger, the longtime business partner of Warren Buffett, on Wednesday said Chinese companies are stronger than American companies, lamented a "dying" newspaper industry, and offered passing praise for Tesla Inc's Elon Musk though he would never invest in his company.

Munger, 96, spoke at the annual meeting of Daily Journal Corp, the Los Angeles newspaper publishing company he chairs.

He remains better known for having since 1978 been a vice chairman at Buffett's Berkshire Hathaway Inc.

Munger showed no sign of wavering in his longstanding admiration for China and its economy, even as officials combat the coronavirus outbreak whose epicentre is in that country's Hubei province.

"The strongest companies are not in America," he said. "The Chinese companies are stronger than ours, and are growing faster."

Munger also appeared to admonish both countries' leaders to work out their economic differences.

"The United States ought to get along with China, and China ought to get along with the United States," he said.

Wednesday's meeting was webcast by CNBC.

Munger spoke two weeks after Berkshire threw in the towel on its newspaper empire, agreeing to sell 80 daily and weekly papers including its hometown Omaha World-Herald in Nebraska to Lee Enterprises Inc for $140 million (£108 million).

He echoed Buffett's sentiment that only a few newspapers, such as the New York Times and Wall Street Journal, may survive the shakeout as the Internet and changing reader preferences cause advertising revenue to plummet.

"What's happened is that technological change is destroying daily newspapers in America," Munger said. "They're all dying."

That's not how many investors feel about Tesla, Musk's electric car company, whose share price has more than quadrupled since June, punishing short-sellers betting it would fall.

"I would never buy it, and I would never sell short," Munger said, prompting laughter.

"Elon Musk is peculiar," he added. "He may overestimate himself, but he may not be wrong all the time."

Munger is Berkshire's chief supporter of that company's investment in Chinese electric car company BYD Co, which began in 2008.

With U.S. stocks at record highs, Munger also cautioned investment managers to "prepare for tougher times ahead," echoed the billionaire Buffett's recommendation that many investors are better off in index funds.

"There are wretched excesses in a lot of well-paid hedge fund and private equity businesses," Munger said.

Munger also made many several references to his age, but offered no explanation of how he got there.

"I don't think I deserve any credit for longevity," he said. "It just happened."

By Jonathan Stempel

Stocks mentioned in the article
ChangeLast1st jan.
BERKSHIRE HATHAWAY INC. -2.89% 268126 Delayed Quote.-21.04%
BYD COMPANY LIMITED 3.28% 49.73 End-of-day quote.0.95%
DAILY JOURNAL CORPORATION -4.06% 217.3 Delayed Quote.-25.18%
TESLA, INC. -2.61% 514.36 Delayed Quote.22.96%
THE NEW YORK TIMES COMPANY -2.31% 32.11 Delayed Quote.2.18%
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Financials (CNY)
Sales 2019 128 B
EBIT 2019 4 593 M
Net income 2019 1 757 M
Debt 2019 50 008 M
Yield 2019 0,30%
P/E ratio 2019 57,8x
P/E ratio 2020 46,4x
EV / Sales2019 1,41x
EV / Sales2020 1,24x
Capitalization 131 B
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Technical analysis trends BYD COMPANY LIMITED
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 39,57  CNY
Last Close Price 35,14  CNY
Spread / Highest target 106%
Spread / Average Target 12,6%
Spread / Lowest Target -43,9%
EPS Revisions
Managers
NameTitle
Chuan Fu Wang Chairman, President & General Manager
Jun Qing Dong Chairman-Supervisory Board
Ya Lin Zhou Chief Financial Officer
Zuo Quan Xia Non-Executive Director
Xiang Yang Lü Vice Chairman
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