Core Insights - In the first three quarters of this year, domestic power and other battery production and sales have surpassed the total for the entire previous year, with production reaching 1121.9 GWh and sales at 1067.2 GWh, representing year-on-year growth of 51.4% and 55.8% respectively [1][2] Production and Sales Data - The cumulative production of domestic power and other batteries in the first three quarters was 1121.9 GWh, a year-on-year increase of 51.4% [1] - Cumulative sales reached 1067.2 GWh, with a year-on-year growth of 55.8% [1] - The total production and sales figures have already exceeded last year's totals of 1096.8 GWh and 1039.5 GWh respectively [1] Market Share and Competition - CATL (宁德时代) led the domestic market with a battery installation volume of 210.67 GWh, holding a market share of 42.75%, while BYD (比亚迪) followed with 111.21 GWh and a market share of 22.57% [1][3] - Together, CATL and BYD account for 65.32% of the domestic market [3] - Both companies experienced a decline in market share, with CATL down by 3.1 percentage points and BYD down by 2.1 percentage points compared to the previous year [4][5] Emerging Competitors - Gotion High-Tech (国轩高科) showed significant growth, achieving a market share increase of 1.2 percentage points, with a battery installation volume of 26.27 GWh [5][6] - Other second and third-tier battery manufacturers, such as EVE Energy (亿纬锂能) and Xinwangda (欣旺达), also reported market share increases [7][8] - The competition among second and third-tier manufacturers is intensifying, with improvements in product quality beyond just pricing [10] Battery Types and Trends - In the first three quarters, lithium iron phosphate (LFP) batteries accounted for 81.5% of total installations, with a cumulative volume of 402.6 GWh, reflecting a year-on-year growth of 62.7% [10] - In contrast, ternary batteries saw a cumulative installation volume of 91.2 GWh, representing a year-on-year decline of 7.8% [10] - CATL remains the leader in both LFP and ternary battery segments, with respective market shares of 36.47% and 36.61% [11][12] Export Performance - Cumulative exports of domestic power and other batteries reached 199.9 GWh, marking a year-on-year increase of 45.5% [12] - Power battery exports accounted for 64.6% of total exports, with a volume of 129.1 GWh, reflecting a year-on-year growth of 32.7% [12] - CATL led in exports with a growth rate of 37.9%, while BYD and Contemporary Amperex Technology Co., Ltd. (中创新航) followed with growth rates of 77.1% and 84.2% respectively [15]

承董事會命 比亞迪股份有限公司 主席 王傳福 香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 比亞迪股份有限公 司 BYD COMPANY LIMITED （在中華人民共和國註冊成立的股份有限公司） 股份代號：01211（港幣櫃台）及81211（人民幣櫃台） 網站：http://www.bydglobal.com 董事會會議通告 比亞迪股份有限公司（「本公司」）董事會（「董事會」）茲通告謹定於二零二 五年十月三十日（星期四）舉行董事會會議，以考慮及批准（其中包括）本公司截 至二零二五年九月三十日止九個月之未經審核第三季度業績及其發佈，以及處理 任何其他事項（如有）。 中國 • 深圳，二零二五年十月十五日 於本公告刊發日期，董事會成員包括執行董事王傳福先生、非執行董事呂向陽 先生及夏佐全先生、獨立非執行董事蔡洪平先生、張敏先生及喻玲女士。 ...

每经头条（nbdtoutiao）——出租白银的爆赚机会：年化利率飙升到35%，全球白银正空运往英国套 利，背后是一场史诗级逼空 （记者 王晓波） 每经AI快讯，比亚迪发布公告称，2025年10月14日，比亚迪接受野村、分析师、Joel Ying等50人调研， 公司吴越、常恩铭回答了投资者提出的问题。 ...

Sales Performance - In September 2025, BYD sold 396,270 vehicles, bringing the total sales from January to September to 3,260,146 vehicles [1] - Cumulatively, BYD has sold over 13.8 million new energy vehicles [1] Technological Advancements - BYD launched the revolutionary Super e-platform, featuring fast-charging batteries, a 30,000 RPM motor, and a new generation of automotive-grade silicon carbide power chips [1] - Achieved a peak charging power of 1 MW (1000 kW), with the fastest mass production charging speed of 5 minutes for 400 km [1] - The single motor power reaches 580 kW, with a top speed exceeding 300 km/h, defining the world's strongest professional pure electric platform [2] International Presence - At the Munich Auto Show on September 8, 2025, BYD showcased its high-end brand Tengshi with seven key models, including Tengshi Z9GT and D9, along with its megawatt fast-charging technology [3] - BYD launched an official certified used car program at the Munich Auto Show, ensuring vehicles undergo 179 strict inspections and battery health is guaranteed to be above 90% [3] Market Expansion - In August 2025, BYD partnered with Finnish dealer Veho Group to enhance its sales and service network in Finland, planning to add retail outlets in major cities [4] - Since entering the Finnish passenger car market in 2023, BYD has introduced 8 models, covering both pure electric and hybrid vehicles [4] - On August 27, 2025, BYD officially entered the Argentine market, marking a significant milestone in the country's automotive industry's transition to electrification [5] - The first round of exclusive pre-sales in Argentina includes models such as Yuan UP, Song PRO DM-i, and Seagull [6]

格隆汇10月15日丨比亚迪电子(00285.HK)发布公告，谨定于2025年10月30日（星期四）举行董事会会 议，以考虑及批准（其中包括）本公司截至2025年9月30日止九个月的未经审核第三季度业绩及其发 布，以及处理任何其他事项（如有）。 ...

格隆汇10月15日丨比亚迪(01211.HK)公布，谨定于2025年10月30日(星期四)举行董事会会议，以考虑及 批准(其中包括)公司截至2025年9月30日止九个月的未经审核第三季度业绩及其发布，以及处理任何其 他事项(如有)。 ...

中國 • 深圳，二零二五年十月十五日 於本公告刊發日期，董事會成員包括執行董事王傳福先生、非執行董事呂向陽 先生及夏佐全先生、獨立非執行董事蔡洪平先生、張敏先生及喻玲女士。 董事會會議通告 比亞迪股份有限公司（「本公司」）董事會（「董事會」）茲通告謹定於二零二 五年十月三十日（星期四）舉行董事會會議，以考慮及批准（其中包括）本公司截 至二零二五年九月三十日止九個月之未經審核第三季度業績及其發佈，以及處理 任何其他事項（如有）。 承董事會命 比亞迪股份有限公司 主席 王傳福 香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 比亞迪股份有限公 司 BYD COMPANY LIMITED （在中華人民共和國註冊成立的股份有限公司） 股份代號：01211（港幣櫃台）及81211（人民幣櫃台） 網站：http://www.bydglobal.com ...

Core Viewpoint - Tianjian New Materials Co., Ltd. is racing against time to go public on the Beijing Stock Exchange, facing significant performance challenges and potential buyback obligations if the listing fails [1][4]. Financial Performance - The company's revenue for 2022, 2023, and 2024 was 832.38 million, 933.80 million, and 1.13 billion yuan respectively, while net profits were 61.59 million, 82.88 million, and 63.52 million yuan, indicating a decline in profitability [4][5]. - The gross profit margin decreased from 22.25% in 2023 to 16.09% in 2024, primarily due to falling prices of main products [5][6]. Customer Dependency - The company heavily relies on BYD, with revenue from the top five customers accounting for 44.83%, 50.04%, and 51.31% over the reporting period, and BYD's contribution rising from 26.22% to 41.70% [7][8]. - The average selling price of products sold to BYD decreased by 11.61% in 2024, while unit costs increased by 3.01% [6][7]. Accounts Receivable and Liquidity - Accounts receivable increased from 432 million yuan in 2022 to 631 million yuan in 2024, with the ratio of accounts receivable to revenue rising from 51.93% to 55.90% [8]. - The company's asset-liability ratio increased from 61.22% in 2022 to 67.47% in 2024, indicating growing financial pressure [8]. Future Outlook - In the first half of 2025, revenue is expected to increase by 1.13% to 472 million yuan, but net profit is projected to decline by 5.35% [9]. - The company aims to enhance its market share among existing electric vehicle customers and strengthen its competitive position in the 3C electronics sector [9].

比亚迪继续蝉联销冠，9月零售销售达到347353台，环比增长12%，同比下滑10.2%，国内市场份额占比 为15.5%。吉利汽车位列第二，销量为232460辆，环比增加8.6%，同比增长42.8%。第三名为一汽-大 众，销量为138396辆，环比增加14.3%，同比下滑4.6%。第四名为长安汽车，9月销量为138396辆，环 比增幅为13.5%，同比增长32.1%。 奇瑞汽车销量为121257辆，排名榜单第五，环比增幅10.5%，同比下滑3.6%。目前，奇瑞海外市场增幅 喜人，在国内车企出口位列居前。 10月14日，乘联分会公布9月国内汽车品牌销量零售榜。数据显示，自主品牌车企继续保持领跑。 | | | 2025年9月厂商零售销量排行榜 | | | | | --- | --- | --- | --- | --- | --- | | 单位:辆 | | | | | | | NO. | 自 厂商 | 2025.9 | 环比 | 同比 | 份额 | | 1 | 比亚迪汽车 | 347,353 | 12.0% | -10.2% | 15.5% | | 2 | 吉利汽车 | 232,460 | 8.6% | 42.8% ...

Core Insights - BYD has officially launched the Han Long Range version, featuring an electric range of 245 kilometers and a fuel consumption of 3.44 liters per 100 kilometers when out of battery [1][3] - The Han DM-i Long Range version offers four models with prices ranging from 159,800 to 189,800 yuan after subsidies, while the Han EV Long Range version has three models priced between 173,800 and 205,800 yuan, with a 10,000 yuan trade-in subsidy available until October 31 [1][3] Group 1 - The Han DM-i Long Range version is equipped with the fifth-generation DM technology, achieving a pure electric range of 245 kilometers and a total range of 1,560 kilometers [3] - The Han EV Long Range version features a new eight-in-one intelligent electric drive system, with a starting electric range of 635 kilometers and a maximum of 705 kilometers, along with a 0-100 km/h acceleration time of 6.9 seconds [3] - The electric consumption for the Han EV Long Range version has been reduced to 10.6 kWh per 100 kilometers, significantly lowering long-distance travel costs [3] Group 2 - The Han Long Range version offers more personalized options with three new colors: Frosted Gold, Pine Green, and Distant Peak Blue, and upgraded interior materials for a better cabin experience [5] - The vehicle features a smart cooling and heating refrigerator with a capacity of 4.5 liters, active noise cancellation technology, and a smart anti-motion sickness system [5][7] - The Han Long Range version is equipped with the Yun Nian-C intelligent damping body control system, which can identify road conditions up to 15 meters ahead and adjust suspension damping accordingly [7] Group 3 - The vehicle includes the "Tian Shen Zhi Yan" driver assistance system, supporting various driving and parking assistance features, with over 300 parking scenarios supported [7] - BYD has prepared exclusive service rights for all Han owners, including a pick-up and delivery service, as well as parking assistance services at major locations like train stations and airports [8]