$1211 (-1.13%)

At 28.24 billion dollars, the Chinese electric car manufacturer BYD generates more turnover than Tesla and reports record sales of over 500,000 vehicles in October 2024.

Germany's key industries are increasingly doubting their own future viability. An Allensbach survey of 169 industrial companies commissioned by the restructuring consultancy FTI-Andersch shows corresponding warning signs.

The results, which are considered representative, are available exclusively to Handelsblatt.

The most important findings of the survey:

• 51 percent of the companies surveyed fear that their business will continue to stagnate or even deteriorate over the next twelve months.

• 60 percent of domestic automotive suppliers have given up on winning Chinese car manufacturers as customers, even though they are becoming increasingly important.

• 51 percent of mechanical engineering companies assume that they will lose their technology leadership to foreign competitors in the coming years.

• And 94 percent of energy-intensive companies, such as those in the chemical and steel industries, fear that there will be an exodus from Germany in their sector.

Deindustrialization in Germany is intensifying

The signs of deindustrialization are intensifying: German industry has reduced its workforce by almost four percent compared to the pre-corona year 2019, according to analyses by the consultancy EY based on figures from the Federal Statistical Office.

Confidence is also waning among young entrepreneurs. In the current Future Barometer of the Wirtschaftsjunioren Deutschland, 77.3% of respondents stated that they were pessimistic about the next two years. A year ago, this figure was 73.1 percent.

The German automotive industry is losing importance. In recent years, Volkswagen $VOW (-1.42%) BMW $BMW (-0.35%) and Mercedes $MBG (-0.85%) have sold fewer vehicles in all key regions of the world, even though the markets are growing. Chinese competitors in particular, such as BYD $1211 (-1.13%) or Xiaomi $1810 (-0.03%) are winning.

Domestic machine manufacturers are facing a historic break. 51% assume that technology leadership will no longer be in Germany in the future, but abroad. 70 percent therefore fear a strong or very strong impact. "The fact that the majority of mechanical engineering companies no longer believe in their global leadership role is worrying," says FTI-Andersch CEO Säuberlich.

Almost all companies in energy-intensive sectors such as the chemical or steel industry consider it likely or very likely that companies in their sector will move away from Germany either completely or partially. The main reason for this is the high energy prices.

Source text (excerpt) & graphic: Handelsblatt, 17.10.2025

Apple $AAPL (+0.2%) plans to launch a new tablet device called Home Hub in spring 2026, which will serve as the central control unit for the smart home.

As Bloomberg specialist Mark Gurman reports, the device will be manufactured by Chinese electric car manufacturer BYD $1211 (-1.13%) in Vietnam.

With this decision, Apple is continuing its strategy of reducing its production dependency on China - particularly in view of tariff measures under the Trump administration.

》Two versions for different usage scenarios《

The display with a size of around seven inches is available in two versions. The J490 model has an integrated speaker base, while the J491 model is designed for wall mounting.

Both variants will be available at a price of around 350 dollars - higher than the current HomePod, but significantly cheaper than more powerful iPads.

One reason for this could be that the new device does not need to perform complex multimedia tasks.

》More than just an ordinary Apple tablet《

Unlike an iPad, the Home Hub is designed as a shared device that can be used by different family members.

The device uses facial recognition to recognize who is approaching and adjusts the information displayed accordingly.

This way, one person in the kitchen can have access to recipes and podcasts, while someone else in the living room controls music with Apple Music.

》A preview of Apple's smart future《

Apple apparently anticipates that households could use several of these tablets at different mounting points.

In addition, an intelligent indoor camera is expected by the end of 2026.

A robotic version with a larger screen and a movable arm, similar to the iMac G4, is set to follow in 2027 for around 1,000 dollars. This will presumably rely even more heavily on Apple Intelligence.

I have been invested in $MVST (+2.79%) for some time now. I have just been surprised to see that there are still no posts about the company. So it's about time!

Brief description

Microvast Holdings, Inc. is an American battery technology company specializing in the development, production and integration of lithium-ion battery cells, modules and energy storage systems (ESS). Its products are used in commercial vehicles, buses, specialty vehicles and stationary energy storage systems, among others.

The company offers a fully integrated portfolio - from cell chemistry and module design to battery packs and battery management systems. Microvast operates sites in the USA, Germany and China and supplies global partners in the automotive and energy sectors.

Well-known cooperations exist with manufacturers of commercial vehicles and industrial partners for the development of sustainable e-mobility solutions, among others. Microvast is also involved in projects such as the USABC funding program for the further development of energy storage technologies.

📚 Key figures about the company

Company data

• Founded: 2006.
• Headquarters: Stafford, Texas (USA).
• Industry: Battery manufacturer / energy storage (lithium-ion).
• Number of employees (approximate): ~1,900 (figures vary depending on source / time).
• Product range: cells, modules, battery packs, BMS, ESS (stationary), engineering & testing.

Finances & enterprise value

• Revenue FY 2024: $379.8m (year 2024; significant growth compared to 2023).
• Sales trend (strong growth 2020→2024): see chart below (table & bar chart).
• Adj. EBITDA FY 2024 (non-GAAP): negative adjusted EBITDA for the full year 2024 (source reports approx. -$44.8m for 2024), whereby the company reported positive adjusted EBITDA figures in individual quarters during 2024/2025 (e.g. Q3/2024, Q4/2024, Q1/2025/Q2/2025). → means: operational turnaround in 2024/2025, but annual key figure for 2024 still negative.
• Cash / liquidity (as at 31.12.2024): Cash, cash equivalents and short-term investments approx. $109.6m.

Key figures for the share

• Ticker / Stock exchange: NASDAQ: MVST.
• Market capitalization (current, market ratio varies): approximately USD 1.4 billion
• Last years (short):
• Revenue 2023 → 2024: increase from approx. $306.6M → $379.8M (growth ~24% YoY).
• Quarterly: several quarters 2024/2025 with improved profitability (positive adjusted EBITDA quarters), nevertheless positive/negative GAAP result per quarter; management reports stable progress towards profitability.

⚙️ Opportunities and risks

Opportunities:

• Growing demand for batteries for commercial vehicles and energy storage systems
• Expansion of production capacities (USA, Germany, China)
• Several quarters of 2024/2025 with positive adjusted EBITDA → Trend towards profitability

Risks:

• Fierce competition with large manufacturers such as $3750 (+1.38%) , $1211 (-1.13%) , $066570 , $6752 (+2.01%) (CATL, BYD, LG, Panasonic)
• High capital requirements for new factories
• Previous cuts to government subsidy programs (e.g. in the USA)
• Volatile share with high price sensitivity

🔗 Sources & references

Microvast Investor Relations & Annual Reports

Microvast Holdings Inc (NASDAQ: MVST) - Yahoo Finance

SEC Filings & Q4 / FY 2024 Results Presentation

Company website: https://microvast.com

Nasdaq Market Data: https://www.nasdaq.com/market-activity/stocks/mvst

Yahoo Finance Company Profile: https://finance.yahoo.com/quote/MVST

$1211 (-1.13%)

$HAUTO (+1.84%)

Another reason to change course:

BYD's eighth car carrier enters service All eight cargo ships in the BYD fleet are now operational and have an annual transportation capacity of over one million vehicles. With the BYD Jinan, BYD's car carrier fleet may not grow any further in the near future. BYD (HKG: 1211, OTCMKTS: BYDDY) has welcomed the latest addition to its car carrier fleet in the near future with the commissioning of BYD Jinan. The BYD Jinan, the eighth car carrier from the Chinese alternative fuel vehicle (NEV) manufacturer, was officially put into service, the company announced on Weibo today. The ship is named after Jinan in the eastern Chinese province of Shandong, where one of BYD's largest vehicle production sites is located.

Source: BYD

https://cnevpost.com/2025/09/28/byd-jinan-car-carrier-enters-service/

Good morning dear Getquin community 👋

Today I would like to introduce you to The Humanoid 66 and what it's all about. The market for humanoid robotics is just taking off and is facing one of the biggest upheavals since the advent of the automobile. Morgan Stanley and Goldman Sachs expect the market to be worth between 38 billion and three trillion US dollars by 2035. By 2050, over 60 million humanoid robots could be in use in the USA alone.

With The Humanoid 66, Morgan Stanley has compiled a list of 66 companies that are likely to benefit directly or indirectly from this development. These include not only the manufacturers themselves, but also suppliers and technology groups that provide the necessary infrastructure, from semiconductor and battery producers to sensor technology and software through to platform operators for artificial intelligence.

The leading players include $TSLA (+1.07%) Tesla with Optimus, Figure AI with Figure 02, Agility Robotics with Digit, Boston Dynamics with Atlas and Unitree with H1 and G1. Tesla is already planning to use more than a thousand Optimus robots in its own factories by 2024. The goal is clear: to make humanoid machines suitable for mass production at prices between 20,000 and 30,000 US dollars. Figure AI works closely with $MSFT (+0.06%) Microsoft, OpenAI and $BMW (-0.35%) BMW and was able to raise over 675 million US dollars in a financing round.

Technological progress is the key driver of this development. Multimodal generative AI enables humanoid robots to understand speech, communicate with humans and perform tasks autonomously. Advances in actuator technology, LiDAR systems, force sensors and battery technology are making the machines more efficient and more human-like. The energy density of modern lithium-ion cells is increasing by around 20 percent every two years, while the cost per kilowatt hour is expected to fall to 80 US dollars by 2030.

At the same time, wage costs for human labor are rising significantly. In the USA, they currently stand at just under 40 US dollars per hour, while in China they are around 6.50 US dollars and in India 4.45 US dollars. Studies show that automation can reduce labor costs in industrialized countries such as Germany, Japan and the USA by up to a third by 2025. Sectors such as agriculture, construction, care, logistics and manufacturing, where millions of jobs remain unfilled today, will be particularly affected.

The Humanoid 66 shows that this change goes far beyond individual companies. A new industrial ecosystem is emerging that links hardware, software, energy and data. Price reduction, scalability and integration into existing value chains will determine who will be among the winners.

Takeaway: Humanoid robotics is no longer a vision of the future, but the beginning of a structural reorganization of the global economy. Those who invest early in key areas such as AI chips, batteries, sensor technology and automation are positioning themselves in a sector that is likely to have a similarly profound impact as the invention of the car. The crucial question is just how far society is prepared to accept and integrate this new form of workforce.

For those who want to delve deeper: These are the companies featured in the Morgan Stanley report Humanoids @Tenbagger2024
@Multibagger

1. Tesla - USA - $TSLA (+1.07%)

2. Toyota - Japan - $7203 (+0.55%)

3. Xpeng - China - $XPEV (-0.55%)

4. Naver - South Korea - (not listed)

5. CATL - China - $3750 (+1.38%)

6. LG Energy Solution - South Korea - $373220 Subsidiary of LG

7. Samsung / Samsung SDI - South Korea - $SMSN (+1.2%)

8. SK Innovation - South Korea - $096770

9. HD Hyundai Infracore / Doosan (component) - South Korea - $042670

10. Hengli Hydraulic - China - $601100

11. NTN - Japan - $6472 (+1.04%)

12. NSK - Japan - $6471 (+1.16%)

13. Sanhua - China - $002050

14. Siemens - Germany - $SIE (+0.91%)

15. Top Group ("Topu") - China - $601689

16. Ambarella - USA - $AMBA (+1.33%)

17. Synopsys - USA - $SNPS (+0.19%)

18. NXP - Netherlands / USA - $NXPI (+0%)

19. Qualcomm - USA - $QCOM (-1.07%)

20. TSMC - Taiwan - $TSM (+2.27%)

21. Wolfspeed - USA - $WOLF

22. ARM - UK - $ARM (+1.12%)

23. onsemi - USA - $ON (+0.45%)

24. cadence - USA - $CDNS (+0.07%)

25. STMicroelectronics - Netherlands - $STM (+0.8%)

26. NVIDIA - USA - $NVDA (+0.01%)

27. SK hynix - South Korea - $HY9H (+8.59%)

28. sociionext - Japan - $6526

29. SMIC - China - $0981

30. infineon - Germany - $IFX (+0.85%)

31. Renesas - Japan - $6723 (-0.78%)

32. Dassault Systèmes - France - $DSY (-0.41%)

33. Mobileye - Israel / Intel ecosystem - $MBLY

34. Hexagon - Sweden - $HEXA B (+0.2%)

35. Knight Transportation - USA - $KNX (+0.25%)

36. DSV - Denmark - $DSV (+0.26%)

37. Werner Enterprises - USA - $WERN (+0.42%)

38. DHL Group - Germany / international - $DHL (-0.05%)

39. Kuehne + Nagel - Switzerland - $KNIN (-0.39%)

40. Obayashi - Japan - $1802 (+1.4%)

41. China State Construction Engineering Corporation (CSCEC) - China - $601668

42. RBG (presumably an Asian construction company) - (not listed)

43. Shimizu - Japan - $1803 (+1.79%)

44. Taisei - Japan - $1801 (-0.81%)

45. Baker Hughes - USA - $BKR (-0.58%)

46th SLB (Schlumberger) - USA - $SLB

47. Tenaris - Luxembourg / multinational - $TEN (+0.37%)

48. Halliburton - USA - $HAL (+1.05%)

49. amazon - USA - $AMZN (-0.5%)

50th Coupang - South Korea $CPNG (-0.01%)

51. JD.com - China - $JD (-0.18%)

52. BMW - Germany - $BMW (-0.35%)

53rd Mercedes-Benz - Germany - $MBG (-0.85%)

54th General Motors - USA - $GM (-0.18%)

55. BYD - China - $1211 (-1.13%)

56. Stellantis - NL / multinational - $STLAM (-0.95%)

57. Ford - USA - $F (+0.03%)

58. McDonald's - USA - $MCD (-0.28%)

59th Domino's - USA - $DPZ (-0.15%)

60. BGF Retail - South Korea - $282330

61. GS Retail - South Korea - $007070

62nd Lotte - South Korea - $004990

63. Yum China - China - $YUMC (+0.12%)

Source: Morgan Stanley Research Bluepaper Humanoids Investment Implications of Embodied AI and Stock3 drumbeat of Germany's humanoid robot manufacturers The Humanoid 66, 05.10.2025

https://api.guidants.com/db/e6/4/e134c52068e8c98a.pdf

👉 BYD (Build Your Dreams) is today the largest manufacturer of New Energy Vehicles (NEV)worldwide - even ahead of Tesla.

The company was founded in 1995, has vertically integrated production (batteries, chips, software, vehicles) and is one of the fastest growing car manufacturers in the world.

What does BYD do? ⚙️

BYD is much more than just a car manufacturer - the company covers the entire value chain:

➡️ Automotive: BEV & PHEV models such as Seal, Dolphin, Han, Tang, Atto 3

➡️ Batteries:
Blade Battery - proprietary LFP technology, safe, long-lasting, internal & external use

➡️ Semiconductors & chips: In-house development for power electronics & SiC chips

➡️ E-buses & commercial vehicles: World market leader in electric buses & trucks

➡️ Railway / Monorail:
SkyRail & SkyShuttle for urban mobility

➡️ Solar & Energy Storage: Complete solutions for PV, storage & charging infrastructure

📍 BYD is aiming for over 4.5 million deliveries in 2025 - with an increasing export focus.

Figures & growth (Q2 2025) 💰

📊 Deliveries: 2.11 million vehicles (+31.5% YoY), 1.09 million PHEV (+23.7%), 1.02 million BEV (+40.9%)

📊 Turnover: ~371 billion CNY (+23% YoY)

📊 Net profit: CNY 15.5 billion (+11% YoY)

📊 Gross margin: ~20% (stable despite price war)

📊 Export volume: ~242,000 vehicles (+65% YoY)

📊 Market share China: ~34% for NEVs

R&D ratio: ~3.5% → Focus on batteries, chips & software

📊 Valuation: EV/Sales ~ 1.1 | P/E ~ 24 → fairly valued for a vertically integrated EV player

Opportunities 🟢

🟢 Vertical integration: Full control over battery, software & chip production

🟢 Global rollout: Expansion in Europe, South America & South East Asia

🟢 Technology leadership: Blade battery as a cost & safety advantage

🟢 Export offensive: Plants in Thailand, Brazil & Hungary → Reducing customs risks

🟢 Growth drivers: E-buses & fleet electrification

Risks 🔴

🔴 Price war: Tesla & Chinese competitors (Nio, XPeng, Li Auto) squeeze margins

🔴 US trade conflicts: Punitive tariffs & geopolitical tensions as an obstacle

🔴 Dependence on China: Majority of sales from the domestic market

🔴 Currency & regulatory risks: EU investigation into subsidies

🔴 Valuation: Not a bargain, but robust compared to Tesla or Nio

🧠 Conclusion

BYD remains a benchmark for vertically integrated e-mobility - strong growth, solid profitability and technological leadership in batteries.

With the export offensive & local production BYD is increasingly positioning itself as a global challenger to Tesla.

Margins could be under price pressure in the short term - in the long term BYD remains a potential compounder in the global EV boom.

$1211 (-1.13%)

❓ Community question:

BYD - solid growth stock or too much China risk already priced in?