Update of BYD (01May2023)
BYD is not only the largest NEV maker in China, but also one of the largest battery makers in the world. The Updates below are extracted from CNEVPost: BYD reported revenue of RMB 120.17 billion in the first quarter, up 79.83 percent year-on-year, although it was 23.15 percent lower than in the fourth quarter of last year. BYD's net profit for the quarter was RMB 4.13 billion, up 410.89 percent year-on-year, although it was 43.5 percent lower than in the fourth quarter of last year. After excluding non-recurring gains and losses, BYD's net profit in the first quarter was RMB 3.57 billion, up 593.68 percent year-on-year. It reported basic earnings per share of RMB 1.42 in the first quarter, up 407.14 percent year-on-year. BYD's costs grew in line with sales growth, with operating costs for the quarter at RMB 98.71 billion, up 68.62 percent year-on-year. Its selling expenses for the quarter were RMB 4.65 billion, up 234.96 percent year-on-year, and R&D expenses were RMB...