Buffett turned "spokesperson" BYD survived the "back door"

Denglin the Buffett visit to China is "promote" charity or "endorsement" BYD?　　Maybe the Chinese are like a horse. China travel time allocation can explain some problems.　　According to the prior Buffett visit to China, from September 27 afternoon arrived in Shenzhen to 30th left Changsha, four days of travel, in addition to 5 hours to Bill Gates charity dinner, the rest of the time to participate in BYD's activities. He appeared at the BYD sales breakthrough 1 million celebration meeting, for BYD and the South grid cooperation platform, he personally witnessed Changsha K9 Electric bus line, he will also in Beijing to help BYD M6 release ceremony and BYD Aid Tibet Charitable donation activities, he is willing to free with thousands of BYD dealers for dinner,　　He even brought 500 desserts from the United States at the expense of his own pocket. The high profile of the investor is quite different from an article in China that has been reprinted by Reuters from Hong Kong, the report said Mr. Buffett may have made some tough remarks to the company when he visited BYD, including the possibility of plans to sell its stake in BYD.　　The report also said BYD was the fastest-growing car company in China last year, but this year has encountered a series of problems, such as falling sales, delayed electric vehicle export plans and legal disputes with the government over land development. It was the first time Mr. Buffett had visited the company since 2008, when Mr. Buffett's U.S.-China energy company had taken a stake in BYD (1211.HK).　　27th, Shenzhen Oct, Warren Buffett for his strategic investment two years ago, gave a lot of praise words. He said BYD has achieved "remarkable results" not only in new energy sources and new technologies, but also in traditional fuel vehicles, which are "stunning".　　BYD's annual growth rate is the highest in China and the highest in the world. April 2010-August, BYD automobile distributor Sichuan Chengdu Ping Tong Company announced the withdrawal of BYD, Hunan Everbright, Shandong, Henan, part of BYD auto dealers also withdrew from BYD sales network.　　The dealers said BYD is not enough to protect dealers, too much press, business policy has many problems. I do not know whether the "BYD back to the net door" incident, the face of nearly 1500 BYD dealers, Buffett enthusiastically said, "I choose BYD to cooperate, I think this is a very sensible choice, for everyone, The choice and BYD cooperation is also a wise choice: BYD's dream, we can work together will be able to achieve. BYD said it would pay more attention to improving the quality of the system's operations, especially the profitability of dealers and suppliers.　　Including the establishment of BYD Auto finance company, to provide strong loan support to the distributors in the system, continue to provide a variety of traditional new vehicles, the new Energy vehicle Sales Authorized 4 network distributors. But to improve the implementation of the relevant system is not an overnight, in the new energy vehicles failed to contribute to sales, BYD, this year, the estimated 800,000 of the sales volume of the forecast is reduced to600,000 cars. Despite the decline in the performance of traditional cars, BYD's electric-car project continues to make progress seems to give Buffett great confidence. September 16 BYD announced the capital of about 200 million yuan, from Shenzhen listed companies in Tibet Mining and its parent company, the Zabuye lithium industry 18% equity. Zabuye Salt Lake for the world's third largest, the country's largest lithium Salt lake, the Tibetan mining industry has 20 exclusive rights. This is BYD's first step in reducing the cost of electric cars.　　As early as last July, BYD submitted a letter of intent to invest 7 billion yuan in the construction of lithium-ion batteries in Yichun, Jiangxi Province, which is determined to build "lithium capital in Asia". Last week, Morgan Stanley raised its stake in BYD (1211.HK) from neutral to overweight, with target prices rising from 56 to $66 to reflect the potential for a renewable energy business and the attractiveness of valuations. However, the current accounting for BYD's total turnover of more than 50% of the traditional car business if not healthy development, the company's new energy vehicle development capacity will obviously be dragged down and questioned.