AutoBeta(AutoBeta.net)08/21 Report--

P.p1 {margin: 0.0px 0.0px 0.0px 0.0px; text-align: justify; font: 16.0px 'PingFang SC'; color: # 323333}

P.p2 {margin: 0.0px 0.0px 0.0px 0.0px; text-align: justify; font: 16.0px Arial; color: # 323333; min-height: 18.0px}

P.p3 {margin: 0.0px 0.0px 0.0px 0.0px; text-align: justify; font: 16.0px 'PingFang SC'; color: # 323333; min-height: 22.0px}

Span.s1 {font: 16.0px Arial; font-kerning: none}

Span.s2 {font-kerning: none}

On August 21, BYD released its performance report for the first half of 2019, with operating income of 62.184 billion yuan, an increase of 14.84% over the same period last year, and a net profit of 1.455 billion yuan belonging to shareholders of listed companies, an increase of 203.61% over the same period last year.

Meanwhile, BYD expects a net profit of 15.55-1.755 billion yuan in the first three quarters of 2019, an increase of 1.83-14.93 percent over the same period last year.

In the first half of 2019, domestic automobile production and sales were at a low level as a whole due to the influence of multiple factors. According to data from the China Association of Automobile Manufacturers, from January to June 2019, China's automobile production and sales volume were 12.132 million and 12.323 million respectively, down 13.7% and 12.4% respectively compared with the same period last year.

BYD's performance has bucked the trend this year. Official figures show that BYD sold 228100 vehicles in the first half of 2019, up 1.59% from a year earlier, of which 145700 new energy vehicles were sold, up 94.5% from a year earlier, substantially leading the industry's growth rate of 49.6%.

At the same time, BYD's share of the new energy vehicle market has also reached about 24%, an increase of 4 percentage points over last year, which is also the main driving force behind the rapid growth of BYD Group's annual revenue and profits.

At the same time, BYD and Toyota have reached a partnership to jointly develop electric cars and pure electric models with low chassis SUV, as well as the required power batteries. The model is under the Toyota brand and is scheduled to be launched in China by 2025.

BYD officials said that the company continues to increase investment in research and development, promote product innovation, and continuously deepen strategic cooperation with customers in three major business areas. 5G is coming, and the company has laid out new materials and technologies in advance, which will drive the business into a new period of growth.

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