BYD published its third-quarter results on the evening of Oct. 29. The company posted Q3 revenue of about 221.5 billion yuan, up roughly 14% year on year, and net profit of 10.0 billion yuan, up about 28%, with net margin rising to 4.52%.
For the first nine months, revenue held steady at 566.3 billion yuan while net profit reached 22.35 billion yuan, down 4.24%. Cumulative sales through September were 3.13 million units, down 3.94%, though quarterly sales recovered from 1.50 million in Q1 to 1.10 million in Q2 and 1.32 million in Q3.
Overseas markets were the main growth engine: nine-month overseas sales hit 1.34 million units, up 91% year on year, lifting the overseas share to about 43%. Chairman Wang Chuanfu said the original 1.5 million overseas target for the year looks beatable.
R&D remained heavy at 36.3 billion yuan in the first nine months, surpassing net profit, while BYD said its flash-charging network had reached 12,165 stations across 341 cities by Oct. 7.
Image: BYD flash-charging demonstration. Source: Wikimedia Commons (CC BY 3.0).
