Core Viewpoint - BYD's overseas business is becoming a significant growth engine, with a focus on localizing operations, technological innovation, and advancements in energy storage solutions [1][2][4]. Group 1: Overseas Business - BYD's overseas sales surged by 155.5% year-on-year, with 83,524 vehicles sold in October and a cumulative total of 785,103 vehicles from January to October [2]. - The company has expanded its presence in over 110 countries and regions across six continents, enhancing the penetration rate of electric vehicles in Europe, Latin America, and Asia-Pacific [2]. - BYD is accelerating its localization efforts in research, design, and operations, with plans to launch 7 to 8 electric and hybrid models in Japan by 2027 [2]. Group 2: Technological Innovation - BYD emphasizes "technology as king and innovation as fundamental," with R&D investments ranking among the top in A-share listed companies [3]. - The company has introduced technologies such as the "blade battery" for safety, "DM-i super hybrid" for efficiency, and "Tian Shen Zhi Yan" for intelligent driving, further solidifying its technological edge [3]. - The "Tian Shen Zhi Yan" system has been installed in over 2 million vehicles, generating more than 130 million kilometers of data daily, and offers advanced parking capabilities comparable to L4 level [3]. Group 3: Energy Storage Business - BYD's energy storage business has expanded globally, covering over 110 countries and providing solutions for hundreds of projects [4]. - As of October 2025, the total installed capacity of BYD's power batteries and energy storage batteries exceeded 230 GWh, representing a year-on-year increase of over 55% [4]. - The company launched the "Haohan" energy storage product featuring the world's largest dedicated blade battery, improving energy density by over 300% compared to conventional products [4].

Core Insights - BYD's 14 millionth electric vehicle, the Song Pro, was officially launched in Brazil, marking a significant milestone in the company's globalization efforts and reflecting the shift of Chinese EV companies from "product export" to "value creation" in overseas markets [1] Group 1: Market Performance - In Brazil, BYD's sales surged from 260 units in 2022 to 17,000 units in 2023, and projected to reach 76,000 units in 2024, with May 2025 alone seeing over 9,000 units sold, capturing a market share of 9.7% [4] - BYD's local models, such as the Dolphin and Song Pro, have become bestsellers, while the BYD SHARK, a plug-in hybrid pickup, has filled a gap in the high-performance electric pickup market in Latin America [4] Group 2: Localization Strategy - BYD's success in Brazil is attributed to its precise localization strategy, which includes the establishment of the "BYD Recharge" integrated charging network, covering over 450 charging stations and introducing an "automatic charging" feature to enhance user convenience [4][7] - The company plans to build a network of 240 dealerships in Brazil by the end of 2025, alongside a charging service system in collaboration with the Brazilian government [7] Group 3: Brand and Consumer Trust - BYD has built consumer trust through transparent operations and product quality, receiving accolades such as "Car of the Year" for the Dolphin and "Best Hybrid Car" for the Song Pro, which have bolstered the brand's credibility [6] - The combination of BYD's technological capabilities and effective communication strategies has helped bridge cultural gaps and secure recognition in overseas markets [6] Group 4: Sustainability and Social Responsibility - BYD's Brazilian factory operates entirely on renewable energy and features rainwater recycling and wastewater treatment systems, earning international green certification [7] - The renaming of the road in front of BYD's factory to "BYD Road" symbolizes the company's commitment to social responsibility and enhances the international image of Chinese automotive brands [7][9] Group 5: Globalization Insights - BYD's achievements in Brazil demonstrate a successful model for Chinese automotive companies to expand internationally by focusing on technology adaptation, ecosystem building, and social responsibility [9]