Shulou(Shulou.com)11/24 Report--

CTOnews.com August 29 news, BYD Electronics issued an announcement on the Hong Kong Stock Exchange: turnover in the first half of 2022 fell 1.88% to 43.694 billion yuan, gross profit decreased 23.94% to 2.328 billion yuan, and net profit of 634 million yuan decreased 61.43% compared with the same period last year.

CTOnews.com learned that due to the repeated epidemic and weak market demand, the overall capacity utilization rate of BYD Electronics was not high in the first half of this year, and profits were under pressure. It is said that in the first half of the year:

The depth and breadth of cooperation with overseas customers continues to strengthen, the share of core products continues to increase, the product category continues to expand, and the business scale continues to grow.

Benefiting from the rapid growth of sales of new energy vehicles, shipments of products such as Smart Netlink and intelligent cockpit have increased significantly, and the scale of business has increased by 150.93% compared with the same period last year.

Shipments of new smart products such as smart homes, drones and commercial equipment continued to increase, driving revenue growth of 37.95% compared with the same period last year.

We will continue to increase investment in R & D and comprehensively distribute related product lines in new energy vehicles and other fields, so as to reserve new potential energy for the future development of the Group.

BYD pointed out that the global smartphone market recorded negative growth against a backdrop of supply chain bottlenecks and global economic instability holding back consumer spending. In the face of a challenging macroeconomic environment, consumers have become more cautious.

In terms of Android customers, BYD Group continues to maintain a leading position in the market. Revenue from Android assembly and parts business fell year-on-year due to a decline in sales of high-end flagship models.

In terms of overseas key customer business, the Group's share and shipments of core products assembly and spare parts have further increased, and the introduction of new projects will provide strong support for the Group's future profit growth. During the period, the Group recorded revenue of RMB 33.151 billion in the smartphone and laptop business, a decrease of approximately 11.79 per cent compared with the same period in 2021. Of this total, the revenue from spare parts was about 6.708 billion yuan, down 5.65% from the same period last year, and the assembly revenue was about 26.443 billion yuan, down about 13.22% from the same period last year.

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