BYD Financial Report: BYD's total revenue in 2024 will reach 777.102 billion yuan, and its net profit will reach 40.254 billion yuan, a year-on-year increase of 34%.

According to recent news, BYD released its strongest financial report in history.

The 2024 annual report released by BYD shows that the company's revenue in 2024 will be 777.102 billion yuan, a year-on-year increase of 29.02%; among them, the revenue from automobiles, automobile-related products and other product businesses will be approximately RMB 617.382 billion, a year-on-year increase of 27.70%.

The revenue from mobile phone components, assembly and other product businesses was approximately RMB 159.609 billion, a year-on-year increase of 34.60%; the two businesses accounted for 79.45% and 20.54% of the total revenue, respectively.

BYD's net profit attributable to shareholders of the parent company in 2024 was RMB 40.254 billion, up 34.00% year-on-year, with earnings per share of RMB 13.84. The board of directors recommended a final dividend of RMB 3.974 per share (including tax).

Moreover, as of December 31 last year, BYD's cash flow on hand was 154.937 billion yuan. BYD's net profit and cash reserves were both the highest among domestic automakers.

BYD pointed out that all of the company's core operating indicators hit record highs, and its performance has maintained steady growth for many years.

In terms of sales volume, BYD's global sales volume will reach 4.27 million vehicles in 2024, a year-on-year increase of 41%, making it the sales champion in the Chinese auto market and the global new energy vehicle market.

In terms of R&D, BYD has maintained its high-speed growth as always. The amount of R&D investment in 2024 was 54.16 billion yuan, a year-on-year increase of 35.68%, and for more than ten consecutive years, R&D investment has exceeded the annual net profit.

BYD emphasized that the company has a large technical R&D team and strong scientific and technological innovation capabilities, and has developed a series of world-leading forward-looking technologies to create long-term and sustainable core competitive advantages.

In the first half of the automotive electrification, BYD insisted on "two legs, one step at a time" with pure electric and plug-in hybrid, and continued to lead the market with the world's leading electrification technology. In the second half of the automotive intelligence, BYD relied on its own complete product matrix, million-level sales volume and strong R&D implementation capabilities to take the lead in promoting the full popularization of intelligent driving technology and leading the intelligent transformation of the automotive industry.