BYD Co., Ltd., a prominent electric vehicle manufacturer and a key player in the global new energy vehicle sector, unveiled its impressive 2023 annual report on March 26th, showcasing substantial growth in crucial financial indicators.
Financial Achievements:
- Operating income surged to 602.315 billion yuan, marking a significant 42.04% year-over-year increase.
- Net profit attributable to shareholders skyrocketed by 80.72% to 30.041 billion yuan.
- Basic earnings per share rose to 10.32 yuan.
- The company intends to distribute a cash dividend of 30.96 yuan for every 10 shares held to all shareholders.
BYD's Dominance in the Electric Vehicle Market
BYD continued its reign as the foremost global player in new energy vehicle sales throughout 2023, delivering an impressive 3.02 million vehicles. This accomplishment solidifies the company's supremacy in the rapidly expanding electric vehicle sector and positions it as one of the top ten global automakers.
Innovations in Electric Vehicle Affordability
Building on its commitment to advancing electric vehicle technology and affordability, BYD introduced the Honor Edition model in February 2024, following the successful launch of the Champion Edition last year. The Honor Edition model, which offers "electricity cheaper than petrol," represents a significant step in enhancing the accessibility of electric vehicles.
BYD's Milestones in the Electric Vehicle Industry
On March 25th, BYD achieved a significant milestone by becoming the world's first automaker to produce its 7 millionth new energy vehicle. Headquartered in Shenzhen, China, BYD Co., Ltd., a multinational technology company established in 1995, initially focused on battery production before diversifying into electric vehicles, electronics, and sustainable technologies. BYD's commitment to research and development has firmly established it as a major player in the electric vehicle market, offering a diverse range of passenger cars, buses, trucks, and commercial vehicles.
