Core Viewpoint - BYD reported a total of 480,186 vehicle sales in November, a decrease from 506,804 units sold in the same month last year, while the year-to-date sales reached 4.18 million units, reflecting a year-on-year growth of 11.3% [1] Group 1: Sales Performance - In November, BYD's passenger car sales amounted to 474,921 units, which included 237,540 pure electric vehicles and 237,381 plug-in hybrid vehicles [1] - The November sales figures set a new record for the year, indicating strong demand and performance in the market [1] - Overseas sales exceeded 130,000 units in November, marking a historical high for the company [1]

Core Viewpoint - BYD reported a total sales volume of 480,186 vehicles in November, bringing the cumulative sales for the year to 4,182,038 vehicles [1] Group 1: Sales Performance - In November, BYD's sales reached 480,186 vehicles [1] - The cumulative sales for the year 2023 have now reached 4,182,038 vehicles [1] Group 2: Export and Battery Installation - BYD exported a total of 131,935 new energy vehicles in November 2025 [1] - The total installed capacity of new energy vehicle power batteries and energy storage batteries in November 2025 was approximately 27.669 GWh [1] - The cumulative installed capacity by November 2025 is expected to reach approximately 258.282 GWh [1]

Group 1 - BYD announced a total production of 474,200 new energy vehicles in November 2025, with sales reaching 480,200 units [1] - Cumulative production for the year stands at 4,117,600 units, reflecting a year-on-year increase of 7.29%, while cumulative sales reached 4,182,000 units, marking an 11.30% year-on-year growth [1] - In November, the company exported 131,900 new energy vehicles [1] Group 2 - The total installed capacity of new energy vehicle power batteries and energy storage batteries in November was approximately 27.669 GWh [1] - Cumulative installed capacity for the year is approximately 258.282 GWh [1]

Core Insights - In November, BYD led the electric vehicle market with sales of 480,200 units, while other companies like Hongmeng Zhixing, Zeekr, and Leap Motor also reported significant sales figures, indicating a competitive landscape in the Chinese EV market [1][3][10]. Group 1: Sales Performance - BYD's November production reached 474,175 units, with a cumulative production of 4,117,552 units for the year, reflecting a year-on-year increase of 7.29% [3][5]. - Hongmeng Zhixing achieved a record monthly delivery of 81,864 units, maintaining its position as the industry leader [3][10]. - Zeekr delivered 63,902 units in November, marking a 7.1% year-on-year increase [8][10]. - Leap Motor's sales reached 70,327 units, showing a growth of over 75% compared to the previous year [10][12]. - NIO's multi-brand strategy resulted in 36,275 units delivered, a 76.3% increase year-on-year [16][21]. - Ideal Auto delivered 33,181 units, with total orders for the i6 and i8 models exceeding 100,000 [21][25]. Group 2: Market Trends - The electric vehicle market is experiencing a clear segmentation, with over half of the companies achieving monthly deliveries exceeding 10,000 units, and leading companies widening their sales advantages [1][2]. - Xiaomi's automotive division reported over 40,000 units delivered in November, continuing its strong growth trajectory [13][15]. - The introduction of new models and delivery policies is prevalent, with companies like Zhiji and Lantu launching new vehicles and optimizing delivery options [2][33][34].

12月1日，各家新能源车企11月成绩单陆续出炉。 蔚来：2025年11月，蔚来公司交付新车36,275台，同比增长76.3%。其中，蔚来品牌交付新车18,393 台；乐道品牌交付新车11,794台；firefly萤火虫品牌交付新车6,088台。 理想汽车：2025年11月，理想汽车交付新车33,181辆。截至2025年11月30日，理想汽车历史累计交付量 为1,495,969辆。 极氪汽车：11月销量28843台，环比增长35%，实现国内国际市场双增长，过去一个月，极氪品牌累计 销量已突破60万台。 岚图汽车：11月交付新车20005辆，同比增长84%，系品牌单月交付量首次突破2万辆大关，并实现连续 10个月环比增长。 智己汽车：11月销售量为13577台，环比增长3%。 零跑汽车：11月全系交付再创新高，达70327台，同比增长超75%，持续刷新月销纪录。自2025年3月 起，零跑汽车已连续九个月保持增长，位居造车新势力榜首。今年1~10月，零跑汽车共交付新车46.58 万辆。 北汽蓝谷：子公司北京新能源汽车股份有限公司2025年11月份产销快报，当月产量为31935辆，同比增 长180.57%；销量为32 ...

Group 1: BYD Performance - BYD announced a production of 474,200 new energy vehicles (NEVs) and sales of 480,200 NEVs in November 2025 [1] - Cumulative production for the year reached 4,117,600 units, representing a year-on-year increase of 7.29% [1] - Cumulative sales for the year totaled 4,182,000 units, with a year-on-year growth of 11.30% [1] - In November, BYD exported 131,900 NEVs and installed approximately 27.669 GWh of power batteries and energy storage batteries [1] Group 2: Investment Initiatives - Lushin Venture Capital plans to establish a 400 million yuan investment fund focusing on life sciences, advanced manufacturing, and AI [2] - Chint Electric's wholly-owned subsidiary intends to invest up to 201 million yuan in a green private equity investment fund with a total scale of 700 million yuan [8] Group 3: Corporate Actions - Qianwei Central Kitchen will conduct a shareholder reward activity, offering a product package worth 200 yuan to individual shareholders holding 100 shares or more [3] - Huaxia Happiness plans to use trust beneficiary rights to offset financial debts totaling up to 24 billion yuan as part of its debt restructuring plan [4] - Tailong Pharmaceutical's controlling shareholder is planning a share transfer, leading to a temporary suspension of the company's stock [5] - ST Xianhe has applied to revoke other risk warnings, pending approval from the Shenzhen Stock Exchange [6] - *ST Yuancheng's stock will be delisted due to a market value below 500 million yuan for 20 consecutive trading days [7] Group 4: Sales and Contracts - SAIC Group reported sales of 4,108,000 vehicles from January to November 2025, a year-on-year increase of 16.4% [10] - Geely Automobile's total sales in November reached 310,428 units, marking a 24% increase year-on-year [11] - Far East Holdings' subsidiaries secured contracts worth 2.383 billion yuan in November, positively impacting future earnings [18] - Samsung Medical's subsidiary signed a contract for an annual bidding project in Indonesia worth approximately 160 million yuan [19] - Zhongchao Holdings' subsidiaries recently won contracts totaling 1.318 billion yuan [20] - Changhua Group received a project development notice from a domestic automaker, with an expected total sales amount of approximately 732 million yuan [21]

Sales Performance - BYD's sales experienced a decline for the third consecutive month [1] Market Dynamics - The electric vehicle market faces intensifying competition from rivals introducing popular models [1]

BYD Co. electric vehicles on display at one of the company's showrooms in Shanghai. BYD Co.’s sales fell for a third straight month as the world’s largest electric vehicle maker faces intensifying competition from rivals churning out popular models. Most Read from Bloomberg The company delivered 480,186 vehicles in November, a 5.3% drop from the same period a year earlier. The decline is particularly notable as it comes during what’s supposed to be a busy period. Consumers are expected to rush to showro ...

注：本公司 2025 年 11 月出口新能源汽车合计 131,935 辆； 本公司 2025 年 11 月新能源汽车动力电池及储能电池装机总量约为 27.669 GWh，2025 年累计装机总量约为 258.282 GWh。 务请注意，上述产、销量数字未经审核，亦未经本公司审计师确认，或会予以调整并有待最终确认。本公司刊发财务业绩后，股东及 潜在投资者务必详阅。 单位：辆 产量 销量 项目类别 本月 去年同期 本年累计 去年累计 累计同比 本月 去年同期 本年累计 去年累计 累计同比 新能源汽车 474,175 540,588 4,117,552 3,837,632 7.29% 480,186 506,804 4,182,038 3,757,336 11.30% -乘用车 469,199 536,926 4,064,839 3,820,365 6.40% 474,921 504,003 4,130,639 3,740,930 10.42% -纯电动 233,631 208,859 2,031,189 1,588,206 27.89% 237,540 198,065 2,066,002 1,557,258 32 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 比亚迪股份有限公司 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01211 | | 說明 | | | | | | | | | 多櫃檯證券代號 | 81211 | RMB | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | | 3,683,400,000 | RMB | | | 1 RMB | | 3,683,400,000 | | 增加 / 減少 (-) | | | | | | | | RMB | | | | 本月底結存 | | | | ...