BYD today announced that the first half of 2022 is expected to achieve a net profit of 2.8 billion yuan – 3.6 billion yuan, an increase of 138.59% – 206.76%.
BYD said that in the first half of 2022, despite the many unfavorable factors such as macroeconomic downturn, epidemic emanations, chip shortage and continuous increase in raw material prices, the performance of the new energy vehicle industry was a standout.
The Group’s new energy vehicle sales grew strongly, hitting record highs and leading the market share, achieving rapid year-on-year growth, driving significant improvement in earnings and hedging to a certain extent the earnings pressure from upstream raw material prices.
In the cell phone components and assembly business, demand in the consumer electronics industry was weak, but the Group’s profitability recovered thanks to improved cost control capabilities and product mix adjustments.
BYD officially announced its June sales data, which showed that BYD sold 134,036 new vehicles in June, up 162.7% year-on-year in June, and BYD’s cumulative sales in the first half of this year had reached 646,399 units, with cumulative year-on-year sales surging 162.03%.
Among them, new energy vehicle sales occupy the absolute majority, new energy passenger car sales in June totaled 133,762 units, up 168.8% year-on-year; the first half of the cumulative sales of 638,157 units, up 324.84% year-on-year.
