专利摘要显示，本申请公开了一种路面类型的识别方法、设备、存储介质及车辆，涉及车辆环境感知技 术领域，旨在解决相关技术中道路的路面类型识别结果不准确的问题。该路面类型的识别方法包括：获 取道路图像，将道路图像进行划分得到左侧区域子图像和右侧区域子图像，分别对左侧区域子图像和右 侧区域子图像进行路面类型识别，确定左侧区域子图像的路面类型和右侧区域子图像的路面类型。 金融界2025年5月1日消息，国家知识产权局信息显示，比亚迪股份有限公司;比亚迪汽车工业有限公司 申请一项名为"一种路面类型的识别方法、设备、存储介质及车辆"的专利，公开号CN119888651A，申 请日期为2024年11月。 比亚迪汽车工业有限公司，成立于2006年，位于深圳市，是一家以从事汽车制造业为主的企业。企业注 册资本375765.452367万美元。通过天眼查大数据分析，比亚迪汽车工业有限公司共对外投资了333家企 业，参与招投标项目2136次，财产线索方面有商标信息20条，专利信息784条，此外企业还拥有行政许 可5737个。 天眼查资料显示，比亚迪股份有限公司，成立于1995年，位于深圳市，是一家以从事电气机械和器材制 造业为主的企业 ...

中国 证券研究 2025 年 4 月 27 日 比亚迪-H&A 2025 年 1 季度业绩强劲；预计未来增长继续 比亚迪 2025 年 1 季度业绩几无意外，因为公司已于 4 月 9 日发布了 超出预期的业绩预报。业绩预报后，我们上调了盈利预测（链接）， 预计 2025 年平均单车利润为 1.05 万元（对比管理层指引为 1 万元， 市场一致预期为 9,800 元）。我们注意到，今年迄今市场对公司 2025 全年的一致预期已上调了 17%；尽管如此，我们的预测依然高于市场 。比亚迪仍是我们的首选股。 分析师声明及重要披露，包括非美国分析师披露，见第 5 页。 摩根大通与其研究报告所覆盖的公司开展业务，或寻求与这些公司开展业务。因此，投资者应意识到其中可能存 在利益冲突，进而可能会影响本报告的客观性。投资者在做出投资决策时，本报告之观点应仅作为投资者的考虑 因素之一。 亚太汽车行业研究主管 证券分析师: 赖以哲 AC (86-21) 6106 6353 nick.yc.lai@jpmorgan.com 登记编号: S1730520030008 证券分析师: 沈佳捷, CFA (86-21) 6106 6352 ...

4月27日晚，中国自主制造、已投入运营的全球最大装载量汽车运输船——比亚迪"深圳号"，装载着7000多辆比亚迪 新能源车，从苏州太仓港出发，前往巴西伊塔雅伊港。整个航程预计30余天。 当"深圳号"穿越太平洋，其航迹恰似中国高水平开放经济的隐喻：既有应对风浪的务实策略，更有拥抱世界的长远 视野。从比亚迪、华为到宁德时代，从输出产品到输出标准，在美国关税围堵的背景下，中国企业正以多元路径诠 释"开放的大门越开越大"的承诺。 由"被动运输"转向"自主掌控" 数据显示，2024年中国汽车出口量达640万辆，连续第二年居全球第一。2025年一季度，比亚迪、奇瑞、吉利等国内 车企，海外销量也呈爆发式增长。 一季度，比亚迪海外销量为21万辆，同比增长超过120%，3月份海外销量更是首次站上7万辆的高峰。在巴西、泰 国、英国和澳大利亚等市场，比亚迪新能源汽车的竞争力显著增强，进一步巩固了全球新能源汽车销量领先的地 位。 一边是，国产新能源汽车海外销售如火如荼，销量飙升。另一边，有数据显示，目前全球700余艘从事汽车远洋海运 的专业船只，主要被欧日韩企业控制，国内汽车运输船运力仅占全球的2.63%。中国汽车跨洋运力和汽车出口能 ...

证券分析师：刘虹辰 电话：010-88321818 E-MAIL：liuhc@tpyzq.com 分析师登记编号：S1190524010002 2025 年 04 月 30 日 公司点评 买入/维持 比亚迪(002594) 目标价: 昨收盘:355.00 BYD 的全球 SHENZHEN 时刻 ◼ 走势比较 (20%) 2% 24% 46% 68% 90% 24/4/30 24/7/11 24/9/21 24/12/2 25/2/12 25/4/25 比亚迪 沪深300 ◼ 股票数据 | 总股本/流通(亿股) | 30.39/11.62 | | --- | --- | | 总市值/流通(亿元) | 10,788.68/4,1 | | | 26.57 | | 12 个月内最高/最低价 | 403.4/206.58 | | (元) | | 相关研究报告 <<比亚迪：从批量爆款到全面智 能>>--2025-03-26 <<比亚迪时刻：从批量爆款到全面智 能>>--2024-09-01 <<双宋齐发，进入批量打造销冠爆款 车型的比亚迪时刻>>--2024-07-29 事件：公司发布 2025 年一季报，实现营业总收入 ...

[Table_Info1] [Table_Title] 证券研究报告 / 公司点评报告 三重动能驱动韧性增长，全球化+高端化战略深化 [Table_Summary] 连续增长凸显经营韧性。2024 年全年公司实现营业收入 7771.02 亿元， 同比增长 29.02% ,实现归母净利润 402.54 亿元，同比增长 34.00%,实现 扣非后归母净利润 369.83 亿元，同比增长 29.94%。2025 年 Q1 实现营 业收入 1703.60 亿元，同比增长 36.35%，实现归母净利润 91.55 亿元， 同比增长 100.38%，实现扣非后归母净利润 81.72 亿元，同比增长 117.80%。2024 年全年公司整体毛利率为 19.44%，同比小幅下滑，其 中 Q4 毛利率为 17.01%，同比下滑 4.21pct，2025 年 Q1 毛利率为 20.07，同比下滑 1.82pct，主要系受到行业竞争加剧、价格战等影响。 技术迭代+成本管控对冲降价压力。销量稳健增长：2024 年销量 427 万 辆、同比+41.1%，2025Q1 销量 100 万辆、同比+59.8%，国内市占率稳 居 35%；AS ...

BYD真的赚麻了。 前些天，比亚迪公布了今年一季度的财报。就迪子之前卖爆那劲儿，大伙儿也猜到业绩应该挺不错的，但是真没想到，人家挣的是如此之多。 根据财报信息，一季度，比亚迪营收总共 1703.6 亿元，同比增长 36.35%。相比之下，特斯拉在老马各种不上心后，一季度营收大概是 1411.5 亿元，已经 大幅落后迪子。 | | 本報告期 | 上年同期 | 本報告期比上年 同期增減(%) | | --- | --- | --- | --- | | 營業收入(元) | 170.360.448.000.00 | 124,944,397,000.00 | 36.35% | | 歸屬於上市公司股東的淨利潤(元) | 9.154.985,000.00 | 4.568.793.000.00 | 100.38% | | 歸屬於上市公司股東的扣除非經常性損益的淨利潤(元) | 8.171.627.000.00 | 3.751.980.000.00 | 117.80% | | 經營活動產生的現金流量淨額(元) | 8.580.961.000.00 | 10.227.984.000.00 | -16.10% | | 基本每股收益 ...

Investment Rating - The report maintains a "Buy" rating for BYD with a target price of HKD 491.00 [6][21][19] Core Insights - BYD reported a revenue of CNY 170 billion in 1Q25, reflecting a year-on-year increase of 36% but a quarter-on-quarter decline of 38% due to a shipment of 1 million NEVs, which is a 60% increase year-on-year [1][8] - The gross profit margin (GPM) for BYD in 1Q25 was 20.1%, down 0.6 percentage points year-on-year, indicating ongoing fierce competition in the market [1][8] - Operating profit for BYD was CNY 5.6 billion, a 39% increase year-on-year, while net profit reached CNY 9.2 billion, doubling year-on-year [1][8] Summary by Sections Financial Performance - Revenue for 1Q25 was CNY 170.36 billion, a 36% increase year-on-year but a 38% decrease quarter-on-quarter [8] - Operating profit was CNY 5.6 billion, up 39% year-on-year, while net profit was CNY 9.2 billion, reflecting a 100% increase year-on-year [1][8] - The GPM was 20.1%, down from 20.7% in 1Q24, indicating a decline in profitability due to competitive pressures [1][8] Market Dynamics - The report highlights that BYD continues to benefit from its business scale despite a competitive environment, with sales and marketing expenses growing at a slower pace than revenue [1][4] - Recent government policies tightening smart driving function promotions have affected order volumes across the industry, prompting a shift in focus towards pricing strategies [2][3] Strategic Initiatives - BYD has initiated time-limited promotions with price cuts of 8-17% on select models to stimulate demand [4] - The company aims to improve liquidity through a proposed distribution of bonus shares, increasing the total number of shares from 3,039 million to 9,117 million [5][21]

Group 1 - Multiple automakers are launching smart driving assistance insurance to address safety concerns related to intelligent driving technology [3][4] - Xiaopeng Motors offers an annual smart driving assistance service for 239 yuan, with a maximum payout of 1 million yuan after an accident [3] - GAC Group's "Smart Driving Assurance Insurance" provides a maximum coverage of 3 million yuan for the first year, covering full compensation for accidents involving smart driving systems [3] Group 2 - BYD's passenger car factory in Cambodia is expected to start production in the fourth quarter of this year, with an annual capacity of 10,000 vehicles [4] - BYD aims for overseas sales of approximately 800,000 units this year, with a 521% year-on-year increase in orders in Cambodia [4] Group 3 - Lantu Motors aims to rank in the top three in the mid-to-large new energy SUV market with its Lantu FREE+ model, which will feature Huawei's advanced driving system [5][6] - The Lantu FREE+ is expected to begin pre-orders in June [5] Group 4 - Dongfeng's Nano brand has launched its second model, the Nano 06, with a sales target of over 10,000 units per month by the end of July [7] - The Nano 06 will also be marketed overseas under the name Vigo, with plans for global pre-sales and exports starting in the third quarter [7] Group 5 - Avita has launched new versions of its models Avita 06 and Avita 11 within 10 days, with the Avita 11 starting at 280,000 yuan [8] - The new versions are equipped with Huawei's intelligent driving assistance system, enhancing their competitiveness in the smart vehicle market [8] Group 6 - GAC Honda's P7 model has been launched with a starting price of 199,900 yuan, marking a significant move in the electrification of Japanese joint ventures in China [9] - The P7 features advanced driving assistance and smart cockpit systems, developed in collaboration with local companies [9] Group 7 - Changan's Inertia brand has updated three classic models with the new Blue Whale 500Bar engine, marking a shift towards diverse powertrain options [10] - The company plans to continue introducing various powertrain models, including ICE, PHEV, and HEV [10] Group 8 - SAIC Motor has launched its overseas strategy 3.0, named "Glocal Strategy," aiming to introduce 17 new overseas models in the next three years [11][12] - The strategy focuses on creating a localized ecosystem and global automotive brand, transitioning from scale expansion to value creation [12] Group 9 - The all-new Lincoln Navigator limited edition has been launched at the Shanghai International Auto Show, with a price range of 1.258 million to 1.458 million yuan [13] - The vehicle features a high-strength aluminum body and a spacious interior, emphasizing Lincoln's commitment to luxury and quality [13]

Group 1 - BYD has established a strong global presence, with its electric vehicles being sold in over 100 countries and regions across six continents [1] - In Brazil, BYD dominates the electric vehicle market, with 70% of electric cars sold being BYD models, and it is projected to be the top seller of new energy vehicles in the first quarter of 2025 [1] - BYD's engineering team, consisting of over 120,000 members, focuses on advancing core technologies in batteries, electric control, and motors to drive innovation in its product lineup [1] Group 2 - BYD's Seagull model won the "2025 World Urban Car" award, and the company's executive vice president received the "2025 World Car Person of the Year" accolade [2] - The Seal model was recognized as one of the "Top Ten Best Cars" in the 2024-2025 Japan Car of the Year awards, marking a significant achievement for a Chinese automaker [2] - In 2024, BYD ranked 143rd on the Fortune Global 500 list and received multiple brand accolades, highlighting its growing value and recognition in the global market [2]

Group 1 - The article discusses the challenges faced by foreign companies, particularly in the automotive sector, when entering the Indian market, highlighting the case of BYD and its concerns over potential investment in India [1][22] - It mentions the significant tax penalties imposed on Volkswagen by the Indian government, amounting to $2.5 billion, due to alleged tax evasion over a decade [4][11] - The article outlines the complex tax structure in India, where different tax rates apply to complete vehicle imports versus component imports, leading to disputes over tax reporting practices [6][8] Group 2 - The article describes how other foreign automakers, including Kia and Hyundai, have faced similar tax issues in India, with total penalties for various companies reaching $6 billion [11][13] - It highlights the experience of SAIC's MG Motors in India, where the company faced regulatory hurdles and investigations after attempting to increase investment [14][20] - The article also discusses the broader trend of foreign companies facing difficulties in India, with many companies reconsidering their investments due to regulatory challenges and potential penalties [59] Group 3 - The article provides examples of other industries facing similar challenges, such as Xiaomi, which had its assets frozen by Indian authorities over alleged violations of foreign exchange laws [27][31] - It discusses the Indian government's push for localization in various sectors, pressuring foreign companies to comply with local ownership and operational requirements [33][55] - The article concludes by emphasizing the hostile environment for foreign investment in India, with many companies opting to withdraw or halt their projects due to the unpredictable regulatory landscape [59][60]