AutoBeta(AutoBeta.net)01/05 Report--

On January 5, BYD released the sales report for 2020, showing that 426,972 vehicles were sold in 2020, down 7.46% year-on-year, including 56,322 vehicles sold in December, up 30.44% year-on-year.

According to the monthly sales data, BYD's sales performance is bright enough, but from the annual sales volume, due to the epidemic situation and the impact of the automobile market, BYD new energy plate sales for six consecutive months decline, cumulative sales decline as high as double digits.

Specifically, the sales volume of BYD new energy vehicles in December 2020 was 28,841, with a year-on-year growth of 120.177%, which is the biggest increase of BYD new energy vehicles in the year. However, even in the second half of the new energy vehicles singing all the way, due to the market policy and epidemic impact in the first half of the year, there is still a 17.35% decline in 2020, cumulative sales of 189,689 vehicles.

BYD new energy vehicle sales growth at the same time, fuel vehicle sales fell. BYD sold 27,481 fuel vehicles in December, down 8.64% year-on-year; however, thanks to BYD's continued hot sales in the first half of the year, its cumulative sales in 2020 rose 2.32% to 237,283 vehicles.

BYD New Energy obviously can't keep up with the pace of the market. According to the data of the Association, the sales volume of new energy vehicles in November 2020 was 200,000, with a year-on-year growth of 104.9%; the cumulative sales volume of new energy vehicles from January to November 2020 was 1.049 million, with a cumulative year-on-year growth of 3.9%. After the formal implementation of the Financial Subsidy Policy for Promotion and Application of New Energy Vehicles in July, domestic new energy vehicles have experienced growth. By November this year, when new energy vehicles have recovered to the level of the same period last year, this also reflects that the current new energy vehicles are still policy-driven, without forming a real market-driven, and the status quo of relying on policies for survival has not been shaken off.

Judging from BYD's new energy development, it has declined since last year's decline in new energy subsidies, resulting in a 7.39% decline in sales of new energy vehicles in 2019. In 2020, due to the epidemic situation and market impact, BYD's new energy sales continued to decline, until the four ministries issued an extension of new energy subsidies and exemption from purchase tax, BYD's sales volume did not recover, until December for six consecutive months year-on-year growth. Therefore, in the long run, new energy as BYD's leading business, if the new energy subsidies once the slope is completed, BYD's new energy business may be hit.

However, thanks to market recovery and policy-oriented, BYD's new energy vehicle sales have declined, but BYD, which has the title of "new energy guide," has continued to rise sharply this year. Today, the share prices of many automobile manufacturers fell, but BYD A shares H shares rose against the market. As of the close on January 5, BYD A shares closed at 219.90 yuan/share, with a market value of 599.92 billion yuan, up 6.36% daily.

According to the financial report, BYD realized operating income of 105.023 billion yuan in the first three quarters of 2020, with a year-on-year growth of 11.94%; net profit of 3.414 billion yuan, with a year-on-year growth of 116.83%. Among the various non-recurring profit and loss items announced by BYD, the amount of government subsidies was the highest, reaching 1.002 billion yuan. BYD said the government subsidies were mainly related to the auto business.

Recently, news about BYD has continued. On December 31,2020, BYD issued an announcement saying that it plans to spin off BYD Semiconductor, a holding subsidiary. On January 1, BYD Automobile officially released a brand-new brand logo, which will be applied to the domestic passenger car market. On January 4, Chongqing Fudi Battery Research Institute Co., Ltd. was established, which is wholly owned by Fudi Industrial Co., Ltd., a wholly-owned subsidiary of BYD Co., Ltd.

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