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Business· Manufacturing· TMT

BYD’s H1 net profit tripled, new-energy cars sales spiked

CKN
minutes 2019/08/23 08:51:22
2,021
BYD, new energy vehicles, automobile manufacturing

Aug 23, 2019 (China Knowledge) - BYD (002594) released its first half year resulting reporting company's revenue of RMB 62.2 bln, up 14.84% YoY. The net profit attributable to shareholders is RMB 1.455 bln, an increase of 203.61% YoY. Based on this, BYD expects net profit for the first three quarters of 2019 to be RMB 15.55-17.55 bln, an increase of 1.83%-14.93% YoY.

According to the report, in the first half of the year, BYD’s sales of new energy vehicles rose sharply. In the same period, a total of 228,100 cars were sold. Among them, 145,700 new energy vehicles were sold, up 94.5% YoY. Its revenue of new energy vehicle reached RMB 25.448 bln, an increase of 38.77% YoY, accounting for 40.92% of the company’s total revenue.

BYD plans to launch e2, e3, Next-gen BYD Qin and other new models in the H2, of which e2 will be officially put on sale in the near future.

It is worth mentioning that on August 20, BYD was selected as the third in the list of “Changing the World” published by Fortune magazine for "expanding the electric vehicle market" and promoting the development of the global electric vehicle industry with far-reaching influence, after Qualcomm and MasterCard (MA), and became the only car company to enter the list.

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