Although the prosperity of the new energy vehicle industry in the first half of this year was not as good as before, BYD still showed its leading style in new energy vehicles, and its net profit in the first half of the year maintained a triple-digit growth.
On July 15, BYD announced its own semi-annual performance forecast for 2023. In the first half of the year, BYD’s net profit attributable to shareholders of listed companies ranged from 10.5 billion to 11.7 billion yuan, a year-on-year increase of 192.05% to 225.43%. From 9.3 billion to 10.3 billion, a year-on-year increase of 206.99% to 240%. Among them, the profit attributable to shareholders of listed companies in the second quarter of BYD reached 6.37 billion to 7.57 billion yuan, a year-on-year increase of 128.6% to 171.6%, and a month-on-month increase of 54.2% to 83.3%.
Wall Street Insights and Wisdom Research believes that in the second quarter, BYD continued to maintain its own advantages in the new energy vehicle market. Through the relatively strong sales growth of new energy vehicle products, it steadily increased its market share and simultaneously realized an increase in profits, strengthening its own strength. leading position.
In the first half of this year, BYD’s new energy vehicle sales reached 1.256 million, a year-on-year increase of 94.25%. Among them, the cumulative sales of plug-in hybrid models were 631,400, a cumulative increase of 101%; An increase of 91%, BYD’s new energy vehicle market share in the first half of the year was as high as 38%. Wall Street Insights and Wisdom Research believes that the growth rate of BYD’s net profit is significantly higher than the sales growth rate of new energy vehicles, which shows that in the fierce price war of new energy vehicles in the first half of the year, BYD took the lead and did not receive too many price cuts This is fundamentally different from most of the new car-making forces that have begun to experience negative profit growth rates and are making money at a loss.
In terms of splitting, although BYD’s profit also includes BYD Electronics’ net profit, the main source comes from automobiles. It is estimated that BYD Electronics’ profit in the first half of the year will be 1.2-1.5 billion yuan, while BYD’s profit in the first half of the year will be 10.5 billion yuan. To 11.7 billion yuan, BYD’s single-car profit will reach 7,800 yuan when converted into the middle number, a year-on-year increase of 39.2% compared to 5,600 yuan in the same period last year.
The main reason is that BYD has enjoyed a sharp drop in the price of raw material lithium carbonate without a substantial price cut. The average price of battery-grade lithium carbonate in the fourth quarter of last year, the first quarter and the second quarter of this year was 550,000 yuan. /ton, 450,000 yuan/ton and 250,000 yuan/ton, which means that the average price of lithium carbonate has dropped by about 300,000 yuan in half a year, and the cost of Tesla’s new energy vehicle products has dropped by 1 About ten thousand yuan.
In addition, BYD’s rapid progress in the new energy vehicle market has also simultaneously driven its own growth in the field of power batteries. In the first half of this year, BYD overwhelmed LG New Energy to rank second in domestic and global power battery installed capacity, second only to Ningde era, and the gap between them is constantly narrowing.
From the perspective of the domestic power battery market, BYD’s power battery installed capacity in the first half of the year reached 45.41GWh, a year-on-year increase of 90.9%, and its market share increased by nearly 10 percentage points to 29.85%. Among them, in the field of lithium iron phosphate batteries, BYD has surpassed CATL to win the championship with a power battery installed capacity of 45.4GWh and a market share of 43.68%. From a global perspective, BYD’s global power battery installed capacity from January to May this year reached 38.1GWh, a year-on-year increase of 107.8%, and its market share increased by 4.3 percentage points to 16.1%. Whether it is the growth rate of power battery installed capacity or market share The improvement level is almost at the forefront of major power battery manufacturers. In the first half of this year, Tesla took the lead in launching a price war, which caused the entire new energy vehicle market to face fierce competition. Even Tesla, which has a “big family and a big business”, has experienced a simultaneous decline in profits and gross margins, but BYD has withstood the test. With the launch of BYD’s high-end new models and the implementation of its overseas strategy, BYD’s future will not stop here, and it is expected to make further breakthroughs.
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2023-07-15 03:42:00
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