BYD (1211) reveals its result of the first quarter this year. The net profit was RMB 750 million, which increased 6.32 times year-on-year. Operating income RMB 30.3 billion, a 22.5% increase year-on-year. Net profit attributable to shareholders after deduction of extraordinary profit or loss was RMB 412 million, while same period last year recorded a RMB 329 million loss. Basic earnings per share was RMB 0.25, which increased 11.5 times year-on-year.

The company expects the estimated operating results for the first half of this year would have a year-on-year increase of over 50%. The company expects that the new energy vehicles will remain hot items, and the sales volume and revenue of the new energy vehicles will continue to maintain strong growth, leading to a continuously rapid improvement in the company’s revenue and profitability.

Regarding new energy passenger vehicles, with the completion of the replacement and upgrading of the new models from the Dynasty series, the new energy passenger vehicles of the company enter into a new growth cycle. In terms of new energy commercial vehicles, with the gradual expansion of special use vehicles such as dump trucks, the new energy commercial vehicle product line of the company is gradually enriched, driving the faster year-on-year growth in revenue of commercial vehicles. 

As to fuel vehicles, affected by the downturn of the overall market demands and exit of the company’s previous models, the sales volume recorded a certain decline as compared with the same period of last year.