BYD Co Ltd is a Chinese maker of automobiles, battery-powered bicycles, buses, forklifts, rechargeable batteries, vehicles, and is base in Shenzhen. It has 2 significant subsidiaries, BYD Car and BYD Electronic and also was established in February 1995.
The new hybrid vehicle business grew rapidly with sales volume improving significantly and competitiveness continuing to increase
Revenue from the BYD assembly business and the artificial intelligence product business improves rapidly.
According to the statistics from China Association of Automobile Manufacturers, in the first six months of 2019, the manufacturing as well as sales quantity of cars in China amounted to 12,132,000 units as well as 12,323,000 units, respectively, down by 13.7% and 12.4% year-on-year. Among which, the brand-new power automobile organisation remained to buck the fad and also kept growth, with production and sales quantity reaching 614,000 systems and 617,000 devices respectively, up by 48.5% as well as 49.6% year-on-year. This signifies a continual increase market penetration rate.
According to the data from China Association of Automobile Manufacturers, BYD’s market share in the new energy vehicle segment increased from approximately 20%
Replacement of Older Dynasty Series
Most importantly, the Group continued to promote the replacement of older models in the Dynasty series, and several models were launched, including the new generation of “Tang EV”, new plug-in hybrid electric version of “Song Max” , and the new generation of “Yuan EV”, all of which were well acclaimed in the market for their excellent performance and appearance.
“Tang EV”, with the ability to accelerate from 0 km/h to 100 km/h within 4.3 seconds and its comprehensive endurance reaching 500km, is regarded as the SUV with most power in China, setting a new benchmark in the industry.
Yuan BYD top 5 electric car in China
In the first half of 2019, the new generation of “Yuan EV”, “e5” and the brand new model of “Tang DM” of BYD ranked among the top five in terms of electric car sales in China, which further consolidated BYD’s leading position in the new energy vehicle industry.
In addition, the new models in the Dynasty series are first in the series to be installed with electronic platforms, which offers the benefits of high integration, standardization and operation scale. Thus, platform is able to achieve great improvement as to overall vehicle weight, energy performance and reliability. In addition, this also significantly reduce production cost, further consolidating the competitive advantages of its products. During the Period, the Group further enhanced its product layout with a brand new pure electric vehicle model series based on the e platform, the e series, and comprehensively covered the new energy vehicle segment market. The Group launched the e series models “e1” and the SUV model “S2” in April and June respectively, both receiving positive responses from the market.
Chinese Cities with BYD pure electric buses
In the field of pure electric buses, BYD’s pure electric buses have been in operation in countless cities across China including Shenzhen, Guangzhou, Tianjin, Dalian, Changsha and more.
Electric Bus Growth
In terms of the overseas market, the Group’s “electrification of urban public transportation” continued to progress rapidly, and the Group completed the delivery of electric buses to the UK, Norway, Belgium, Spain, Singapore and Ecuador, solidifying its leading position in the wave of electrification of public transportation in cities around the world.
Gross Profit and Margin
During the Period, the Group’s gross profit increased by approximately 35.59% to approximately 9, 181 million Yuan. Gross profit margin increased from 13.04% in the first half of 2018 to approximately 15.50% during the Period. The increase in gross profit margin was mainly attributable to the rise of new energy automobile profit.