2 1 Shi Ji Jing Ji Bao Dao·2025-10-31 02:56Core Insights - BYD's revenue reached a record high of 566.27 billion yuan in the first three quarters of this year, marking a 13% year-on-year increase, while net profit decreased by 7.55% to 23.33 billion yuan [1] - The company achieved a net profit of 7.82 billion yuan in the third quarter, reflecting a quarter-on-quarter growth of 23% [1] - BYD's global sales reached 3.26 million units, an 18.64% increase year-on-year, completing 70.87% of its annual target of 4.6 million units [1] Overseas Market Expansion - The overseas market has become a significant growth engine for BYD, with overseas sales reaching 701,600 units, a staggering 132% increase year-on-year [2] - BYD's products are now available in 117 countries and regions worldwide [2] - The company has made substantial investments in overseas markets, including a strategic partnership with Veho Group in Finland to enhance its sales and service network [4] Manufacturing and R&D Investments - BYD's R&D expenditure reached 43.75 billion yuan in the first three quarters, a 31% increase year-on-year, surpassing Tesla's R&D spending by 10.9 billion yuan [6] - The company plans to establish over 2,000 stores in Europe by the end of 2026, with a focus on localizing operations and enhancing product offerings [5] - BYD's accounts payable decreased by 8% compared to the beginning of the year, indicating improved cash flow management [6] Product Development and Technology - BYD has introduced several groundbreaking technologies, including the Tian Shen Eye driver assistance system and the Super e-platform [6] - The company is accelerating its market expansion in Japan, launching the K-EV BYD RACCO and a plug-in hybrid model [5] - Citigroup's latest report forecasts BYD's sales to reach 4.67 million and 5.39 million units in the next two years, driven by high-end brand growth and strong overseas sales [7]