Mei Ri Jing Ji Xin Wen·2025-08-30 23:49Core Viewpoint - BYD's half-year report for 2025 shows significant growth in revenue and net profit, driven primarily by its automotive segment, particularly in the electric vehicle market [1][2]. Financial Performance - In the first half of 2025, BYD reported revenue of approximately 371.28 billion yuan, a year-on-year increase of 23.3% [1]. - The net profit attributable to shareholders was around 15.51 billion yuan, reflecting a year-on-year growth of 13.79% [1]. - Cash reserves reached 156.1 billion yuan [1]. Business Segments - Revenue from automotive and related products was about 302.51 billion yuan, up 32.49% year-on-year, accounting for 81.48% of total revenue [2]. - Revenue from mobile components and assembly decreased by 5.54% to approximately 68.74 billion yuan, making up 18.51% of total revenue [2]. Sales Performance - BYD sold approximately 2.146 million new energy vehicles in the first half of 2025, a 33.04% increase year-on-year, ranking 7th globally among car manufacturers [2]. - Overseas sales exceeded 470,000 units, marking a 132% increase year-on-year [2]. - Total global sales for the first seven months of 2025 reached about 2.490 million units, a 27.35% increase year-on-year [2]. R&D Investment - R&D expenditure for the first half of 2025 was approximately 30.88 billion yuan, a 53.05% increase year-on-year, nearly double the net profit for the same period [5]. - Cumulative R&D investment has surpassed 210 billion yuan [5]. Market Expansion - BYD's new energy vehicles are now available in over 112 countries and regions, achieving the highest sales in several countries including Italy and Spain [5]. - The company plans to expand its product line and enhance its global supply chain in the second half of 2025 [5]. Operational Efficiency - BYD is focusing on improving collaboration across its supply chain and optimizing account management, resulting in lower turnover days for accounts payable compared to the industry average [7].