BYD(SZ:002594) Shen Zhen Shang Bao·2025-04-23 22:41Core Viewpoint - BYD's stock price surged significantly, with A-shares rising by 4.83% and H-shares by 3.89%, driven by the announcement of a new profit distribution plan that includes cash dividends and stock bonuses [2][3]. Group 1: Stock Performance - As of the close on April 23, BYD A-shares were priced at 371.99 CNY per share, with a trading volume of 9.22 billion CNY, leading the A-share market [2]. - Year-to-date, BYD A-shares have increased by 31.60%, while H-shares have risen by 46.44% [2]. Group 2: Profit Distribution Plan - BYD announced a profit distribution plan for 2024, proposing a cash dividend of 39.74 CNY per 10 shares (including tax), totaling approximately 12.077 billion CNY, along with a stock bonus of 8 shares for every 10 shares held and a capital reserve transfer of 12 shares for every 10 shares [2][3]. - Following this plan, BYD's total share capital will increase from 3.039 billion shares to 9.117 billion shares, which will dilute earnings per share and net asset per share metrics [2]. Group 3: Financial Performance - For 2024, BYD reported an operating revenue of 777.1 billion CNY, a year-on-year increase of 29%, and a net profit of 40.25 billion CNY, up 34% [3]. - The company expects a first-quarter net profit of 8.5 billion to 10 billion CNY, representing a year-on-year growth of 86.04% to 118.88% [3]. - In the first quarter, BYD achieved record high sales of 1 million new energy vehicles, with a 59.81% year-on-year increase [3]. Group 4: Market Impact - The surge in BYD's stock price has positively influenced the A-share market, particularly boosting the high stock bonus concept, with companies like Kobalt and New Aluminum achieving significant price increases [4].