MUNICH - BYD Co (SZ:002594). Ltd. (HKSE:1211), a major player in the rechargeable battery and electric vehicle industry, recently presented its renewable energy products at The Smarter E Europe exhibition. The event, which took place from Sunday to Tuesday, featured BYD's latest energy storage systems and an electric vehicle model, as well as the company's recognition as the official E-Mobility Partner for UEFA Euro 2024.
The showcase included the BatteryBox energy storage series, known for over 1 million installations worldwide since its 2015 launch. The product line has garnered a reputation for safety and reliability in residential settings. The company also introduced a new battery control unit for its high-voltage models, designed to simplify installation processes.
Additionally, BYD unveiled the BatteryMax Lite, targeting commercial and industrial use with scalable solutions and compatibility with various inverter brands. Pre-orders for this system are set to begin in August, with European availability expected by October 2024.
At the exhibition, BYD received the "Top Brand PV Storage Europe 2024" award, along with several country-level accolades, reflecting its status as a leading brand for photovoltaic energy storage systems in Europe.
During a special event on Sunday, General Manager of BYD Energy Storage, Yin Xiaoqiang, expressed gratitude towards partners with awards including UEFA Euro 2024 final tickets and BatteryBox systems.
Jiang Feng, Residential Energy Storage Director at BYD, emphasized the significance of the European market and the company's commitment to providing green energy solutions. The partnership with UEFA Euro 2024 underscores BYD's dedication to promoting environmentally friendly energy and mobility solutions.
This information is based on a press release statement from BYD Energy Storage.
InvestingPro Insights
BYD Co. Ltd. (HKSE:1211) continues to make significant strides in the renewable energy sector, as evidenced by its latest showcase at The Smarter E Europe exhibition. The company's financial health and growth prospects can be further understood by examining key metrics from InvestingPro. With a robust market capitalization of $87.9 billion, BYD demonstrates a strong presence in the industry. The company's Price to Earnings (P/E) ratio stands at 20.97, reflecting investor expectations of future earnings growth. Furthermore, the Price to Earnings Growth (PEG) ratio of 0.43 suggests that BYD's stock could be undervalued based on its earnings growth potential.
InvestingPro Tips indicate that BYD's revenue has shown a notable increase, with a 27.16% growth in the last twelve months as of Q1 2024, and a steady quarterly revenue growth of 3.97%. This consistent performance is a testament to BYD's expanding operations and its ability to capitalize on the growing demand for renewable energy solutions. Additionally, the company's gross profit margin of 20.65% showcases its efficiency in maintaining profitability amidst its expansion efforts.
Investors seeking to delve deeper into BYD's financials and growth trajectory can find more insights on InvestingPro, where there are additional tips available. For those interested in a comprehensive analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With InvestingPro, investors can make informed decisions backed by real-time data and expert analysis.
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