证券时报·2025-05-30 08:07Core Viewpoint - The article discusses the recent controversy surrounding BYD and Great Wall Motors, highlighting the contrasting views on the state of the Chinese automotive industry, particularly in the context of electric vehicles and financial health [1][3]. Group 1: Industry Concerns - Great Wall Motors' Chairman Wei Jianjun expressed concerns about the Chinese automotive industry's safety, suggesting that a situation akin to "Evergrande" exists within the sector, indicating potential financial instability [3]. - Wei emphasized that many electric vehicle manufacturers are currently operating at a loss, which undermines the industry's commercial viability and called for a reevaluation of government subsidies to ensure they support healthy industry development [3]. Group 2: BYD's Response - BYD's General Manager of Brand and Public Relations, Li Yunfei, refuted claims that BYD is comparable to "Evergrande," asserting that the company's rapid growth contrasts with stagnation in other firms, particularly in the new energy sector [1]. - Li stated that the financial health of Chinese mainstream automakers is generally better than that of foreign counterparts, and he criticized negative narratives about the new energy vehicle sector [1]. Group 3: Pricing Strategies - BYD has initiated a new round of price cuts across its Dynasty and Ocean series, with discounts reaching up to 53,000 yuan on various models, aimed at boosting sales [6][7]. - Specific models, such as the Qin PLUS DM-i and Song L DM-i, have seen significant price reductions, with discounts ranging from 13,000 to 32,000 yuan, indicating a competitive pricing strategy to attract consumers [6][7]. Group 4: Financial Performance - In the first quarter, BYD reported a revenue of 170.36 billion yuan, a year-on-year increase of 36.35%, and a net profit of 9.155 billion yuan, reflecting a 100.38% growth [7]. - For the full year 2024, BYD projected revenues of 777.1 billion yuan, representing a 29% increase, with net profits expected to reach 40.25 billion yuan, a 34% rise compared to the previous year [7].