BYD(002594) 中国经营报·2025-04-27 10:20Core Viewpoint - BYD has reported strong financial results for Q1 2025, showcasing significant growth in revenue and net profit amidst increasing competition in the global electric vehicle market [1][3]. Financial Performance - In Q1 2025, BYD achieved a revenue of 170.36 billion yuan, representing a year-on-year increase of 36.35% [2]. - The net profit attributable to shareholders reached 9.15 billion yuan, marking a substantial growth of 100.38% compared to the same period last year [2]. - The net profit after deducting non-recurring gains and losses was 8.17 billion yuan, up 117.80% year-on-year [2]. - Basic and diluted earnings per share were both 3.12 yuan, reflecting a 98.73% increase from the previous year [2]. Sales and Market Expansion - BYD's sales volume in Q1 2025 reached 1,000,800 units, a remarkable year-on-year growth of 60% [3]. - The company continues to focus on technological innovation as a core driver for growth, with R&D expenses amounting to 14.22 billion yuan, exceeding the net profit for the same period [3]. Financial Management and Risk Control - BYD's asset-liability ratio has decreased from 77% at the end of Q4 2024 to 70% by the end of Q1 2025, indicating improved financial stability [5]. - The company has demonstrated strong cash flow management, with a recent placement of 129.8 million H-shares raising approximately 5.6 billion USD, attracting significant long-term investment [5][6]. - These financial strategies enhance BYD's ability to withstand external risks and support sustainable development in an uncertain economic environment [6].