AutoBeta(AutoBeta.net)03/29 Report--

On March 28, BYD announced its 2022 earnings report. According to the data, BYD realized operating revenue of 424.061 billion yuan in 2022, with a year-on-year growth of 96.2%. In 2022, the net profit of parent company was 16.622 billion yuan, with a year-on-year growth of 445.86%. In 2022, the net profit deducted from non-profit was 15.638 billion yuan, with a year-on-year increase of 1146.42%. The net cash flow generated from operating activities in 2022 was RMB 140.838 billion yuan, with a year-on-year growth of 115.13%. Among them, BYD realized revenue of 156.373 billion yuan in the fourth quarter, with a year-on-year growth of 120.4%, and net profit attributable to mother was 7.311 billion yuan, with a year-on-year growth of 1114.5%. As for the reason for the sharp increase in performance, BYD said: It is because the sales volume of new energy vehicles has achieved strong year-on-year growth, which has greatly improved profits and effectively relieved the cost pressure brought by the rising prices of upstream raw materials.

In terms of R & D investment, BYD's R & D investment in 2022 was 20.223 billion yuan, an increase of 90.31% year-on-year, accounting for 4.77% of total revenue. Gross profit margin: BYD's gross profit margin of auto-related business was 20.39%, 3.69% year-on-year; by the end of 2022, BYD's net cash flow from operating activities was 140.838 billion yuan, with a year-on-year growth of 115.13%.

According to the data, BYD was founded in 1995 and has three business segments: automobile business, mobile phone parts and assembly business, secondary rechargeable battery and photovoltaic business. According to the development of major business sectors, BYD's business revenue in automobiles, automobile-related products and other products in 2022 was 324.691 billion yuan, with a year-on-year growth of 151.78%, accounting for 76.57% of the total revenue. In 2021, this business accounted for 59.66% of the Company's total revenue. Revenue from mobile phone components, assembly and other products business was approximately RMB98.815 billion, representing a year-on-year increase of 14.30%, accounting for 23.30% of total revenue.

It is worth noting that BYD's car sales have been rising since BYD announced in 2022 that it will officially stop production of fuel vehicles and focus on pure electric and plug-in hybrid vehicles in the future. According to relevant data, BYD sold 740,100 vehicles in 2021, including 603,900 fuel vehicles and 136,300 new energy vehicles. In 2022, BYD sold 1,868,500 vehicles, with a year-on-year growth of 152.46%, including 1,857,400 new energy passenger vehicles, with a year-on-year growth of 212.82%, including 911,100 pure electric vehicles and 946,200 plug-in hybrid vehicles. In addition, according to the latest news data show: February, BYD retail sales of 176662 vehicles, Year-on-year growth of 98.3%.

Of course, the rapid growth of sales volume is inseparable from the layout of BYD brand and the launch of high-value models. It is understood that BYD currently owns BYD, Tengshi, look up three brands, among which BYD brand covers Dynasty network and Ocean network two product series, mainly 300,000 yuan below the market. Tengshi brand mainly focuses on the high-end market in the range of 300,000 - 500,000 yuan. The model that has been listed is Tengshi D9, and Tengshi N7 will also be listed within this year. Looking up at the brand is dominated by the million-level market, with its first model, the U8, unveiled in January. In 2022, BYD's brands will launch a number of new models for six consecutive years, including Yuan PLUS, Tang DM-p, Han Qianshan Cui Limited Edition, Seal, Tengshi D9, Looking Up U8, etc. BYD will also launch high-end models such as Sea Lion, Tengshi N7, U8 and U9 in 2023.

In addition to the layout of domestic brand models, BYD is also accelerating its pace of "going out to sea". It is understood that BYD new energy passenger cars have entered 43 countries and regions such as Japan, Germany, Australia and Brazil. In July 2022, BYD Yuan PLUS was named ATT O3 and listed in Singapore, realizing the debut of ASEAN countries; in the same month, BYD announced that it had reached strategic cooperation with Louwman, a European automobile dealer group, to jointly explore the Dutch new energy automobile market; On July 21, BYD announced its official entry into the Japanese passenger car market, and simultaneously unveiled three pure electric cars, Yuan PLUS, Dolphin and Seal, among which Yuan PLUS is expected to be sold in January 2023, Dolphin and Seal will be sold in the middle and late 2023 respectively.

On August 1,2022, BYD announced cooperation with Hedin Mobility, a European dealer group, to provide new energy vehicles for Sweden and Germany; in September 2022, BYD held a European new energy passenger car launch conference to launch Han EV, Tang EV and Yuan PLUS models for the European market, which were launched at the Paris Auto Show in October 2022. In November 2022, BYD held a press conference in Sao Paulo, Brazil, to launch Song PLUS DM-i and Yuan PLUS models. In November 2022, the Yuan PLUS (BYD ATTO 3) was snapped up by local users in Thailand, and the model has been the single-vehicle sales champion in Israel for three consecutive months. On January 31, BYD officially sold its first model ATTO 3 in Japan for 4.4 million yen. With the accelerated layout of BYD's overseas market, overseas sales of its new energy passenger cars are also increasing month by month. According to the latest data, BYD exported 15002 vehicles in February 2023, up 1187% year-on-year and 44.1% month-on-month.

Earlier news said BYD's sales target for 2023 was 4 million vehicles. BYD responded: Affected by the epidemic situation, there are many uncertainties in the market, consumer demand and supply chain system, so the company is not good at judging the sales target for 2023. BYD will give full play to its own advantages according to market conditions and changes, and flexibly formulate various plans to meet the needs of consumers.

However, according to the current layout speed of BYD products, BYD's annual car sales in 2023 are still worth looking forward to. After all, BYD will launch a variety of models this year, and the appearance of new models will also improve BYD's sales to a certain extent. In addition, in February BYD launched Qin PLUS DM-i 2023 champion version with a starting price of 99,800 yuan for the first time to lower the price to less than 100,000 yuan, so that A-class family sedan car to achieve the same price of oil and electricity, and in March BYD and its hot models seal, Song PLUS launched coupon subsidies and other measures, these actions to a certain extent will also play a positive effect on sales.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat