More Chinese companies are becoming global players. BYD and other Chinese electric car brands flocked to a German auto show in the last week to announce plans for the European market . Car exports remain a bright spot in China’s overall trade slump, customs data show. Those overseas sales helped boost China’s auto sector earnings by 46% in the second quarter from a year ago, UBS Securities’ China Equity Strategist Lei Meng said in a note Wednesday. In all, BYD, state-owned SAIC and other Chinese companies gained 9% of the global electric car market in the second quarter, up from 5% in the second quarter, Counterpoint Research said. That’s on top of the companies’ share in the domestic Chinese market — the largest globally for autos. CLSA on Sept. 4 raised its BYD price target by 10 Hong Kong dollars to 310 HKD — 25% upside from BYD’s close for the week. Analyst Xiao Feng and a team expect that this year, BYD will enter the ranks of the world’s ten largest original equipment manufacturers – before climbing into the top 5 in 2026. Toyota ranks first worldwide, with 10.43 million units sold in 2022, the CLSA report said. The analysts expect BYD’s sales will grow by 65% to 3.05 million units this year – including 250,000 to 300,000 vehicle exports. That’s a move in the footsteps of Toyota. About 60 years ago, the Japanese automaker began to increase its overseas exports , and grew over the decades to surpass General Motors in 2008 as the world’s largest automobile manufacturer, according to Britannica. Today, the Japanese car giant is struggling to keep up as strong a presence in the all-electric car market. Beyond EVs Slowing growth in China has also pushed companies, including startups, to look abroad. In the second quarter, mainland Chinese stocks, known as A shares, saw an 8% year-on-year slump in earnings, UBS’s Meng said. But, he said, “another sector that rode on strong exports is machinery: H123 earnings YoY growth turned positive, despite a YoY decline in Q1.” Shenzhen-listed construction machinery company XCMG said in filings in the last two weeks its international revenue rose by 33.5% in the first half of the year to 21 billion yuan ($2.86 billion). That accounted for 41% of total revenue, up 11 percentage points from a year ago, said the company, whose full name is Xuzhou Construction Machinery Group. It claimed revenue from West Asia, North Africa and Central America more than tripled during the first half of the year. That from Europe grew by 150%, while Central Asia and North America saw revenue double, the company said. For the full year, XCMG has an export sales growth target of 50% growth, UBS stock analyst Phyllis Wang and a team said in a Sept. 4 note. The analysts raised their price target to 6.70 yuan from 6.20 yuan based on higher earnings expectations, while maintaining a neutral rating. That’s about where the stock closed on Friday. Chinese companies have been trying to “go global” for years, with tacit encouragement from Beijing. State-owned shipping giant Cosco has vessels all over the world. Shanghai-listed Haier acquired GE’s appliance unit in 2016. Mingyang, also listed in Shanghai, is a global leader in wind power. In medical devices, China’s largest homegrown manufacturer Mindray ranks among the 50 largest in the world, JPMorgan analysts said, citing Omed and S & P Capital IQ. Mindray’s second-quarter overseas sales “accelerated significantly” with a 40% surge from a year ago, JPMorgan’s Helen Zhu and a team said in an Aug. 31 note. Europe sales rose by 20% during the first half of the year from a year ago, they said. The company’s Shenzhen-traded shares have nearly 67% upside to the JPMorgan price target of 433 yuan — even after the analysts lowered their growth expectations due to an ongoing anti-corruption crackdown on China’s health sector. — CNBC’s Michael Bloom contributed to this report.