Core Viewpoint - BYD's impressive performance in the first half of the year is largely driven by overseas sales, which have seen significant growth despite increasing domestic competition [2][4]. Group 1: Sales Performance - From January to July, BYD's passenger car sales reached 2.4543 million units, a year-on-year increase of 25.99% [2]. - Overseas sales of BYD's passenger cars and pickups reached 550,300 units, a year-on-year increase of over 130%, contributing more than 60% to the overall sales growth [2][4]. - In July alone, BYD achieved overseas sales of 80,200 units, accounting for 23.51% of its monthly performance [2]. Group 2: Market Expansion - BYD's strategy includes stable sales in existing markets and explosive growth in new markets, with Indonesia showing a staggering year-on-year increase of 1142% [4][5]. - Other countries with significant sales growth include Turkey, the UK, Spain, Germany, Italy, Norway, and Portugal, all exceeding 100% growth [5][6]. Group 3: Management Insights - BYD's overseas business is managed by three executives, focusing on different regions: Li Ke for Europe and America, Liu Xueliang for Asia-Pacific, and Huang Xuezhi for the Middle East and Africa [6]. - Liu Xueliang emphasizes the importance of building brand trust through years of operation in various countries, particularly in the electric bus sector, which has laid a solid foundation for passenger car sales [7][10]. Group 4: Strategic Goals - BYD aims for sustainable growth rather than just rapid sales increases, focusing on establishing a strong brand presence in international markets [10][12]. - The company is committed to a long-term vision, prioritizing the establishment of trust and quality service over immediate sales figures [12][24]. Group 5: Competitive Landscape - BYD faces significant competition from Japanese and Korean automakers in the Asia-Pacific region, which are well-established and have a conservative consumer base [20][26]. - The company is actively working to improve its brand image and consumer perception of Chinese brands in international markets [33][34]. Group 6: Future Outlook - BYD is expanding its production capabilities in various countries, including Cambodia and Pakistan, to enhance local manufacturing and sales [28][29]. - The company is also exploring the establishment of R&D centers in overseas markets to better tailor products to local consumer needs [30].