Byd achieved an impressive growth in his earnings of the first quarter, consolidating his leadership in the electric vehicle market and standing out despite economic fluctuations
The Byd gain In the first quarter it increased 100.4% compared to the previous year, the fastest pace in almost two years, while the Chinese giant of electric vehicles expands its leadership in its competitive local market by launching a war of prices of intelligent electric vehicles. On the sidewalk in front, Teslawhich also presented results this week, did not convince the market.
The net gain totaled 9.2 billion yuan (US $1.26 billion), according to the report presented this Friday, compared to the company’s prior estimate of between 8.5 billion yuan and 10 billion yuan. The income was 170.4 billion yuan in the quarter, which represents a 36.4% year -on -year increase compared to an increase of 52.7% in the previous quarter.
THE DETAIL OF THE BALANCE
The Chinese manufacturer of new energy vehicles (NEV) reported a net income of 9.16 billion yuan (1.26 billion dollars) in the first quarter, an increase of 100.38% year -on -year, although it fell 39.03% compared to the fourth quarter of 2024. On April 8, Byd published an advance of profits showing that he expected a net income of between 8.5 billion yuan and 10 billion yuan in the first quarter.
The company reported revenues of 170.36 billion yuan in the first quarter, which represents an increase of 36.35% year -on -year, although it fell 38.02% compared to the fourth quarter.
The gross margin for the first quarter was 20.07%, a decrease of 0.64 percentage points compared to 20.71% of the previous year, but an increase of 3.05 percentage points compared to the fourth quarter.
It should be noted that Byd adjusted his calculation of operating costs according to the latest accounting standards in his profit report, which resulted in a change in the gross margin for the same period last year.
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Operating costs for the first quarter of 2024 were reviewed upwards from 9.76 billion yuans previously reported to 9.91 billion yuan, which caused the gross margin for quarter to change from 21.88% previously reported to 20.71% more recent.
In the first quarter, the operational costs of ByD amounted to 13.62 billion yuan, an increase of 37.45% interannual. The company said this was mainly due to the growth of its Nev business.
In the first quarter, BYD’s Sales were 1,000,804 units, an increase of 59.81% year -on -year, although 34.34% fell compared to the fourth quarter of 2024, according to the data published above.
The I+D expenses of byd for the first quarter amounted to 14.22 billion yuan, an increase of 34.04% year -on -year, mainly due to compensation to employees and consumption of materials.
Source: Ambito
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
