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

CTOnews.com reported on March 29, and on the evening of March 28, BYD released its 2022 annual report. According to the announcement, BYD achieved operating income of 424.061 billion yuan in 2022, an increase of 96.2 percent over the same period last year; net profit of 16.622 billion yuan, an increase of 445.86 percent over the same period last year; basic earnings per share of 5.71 yuan; and the company plans to pay a dividend of 11.42 yuan (including tax) for every 10 shares.

According to CTOnews.com, Wang Chuanfu, chairman of BYD, said at the results meeting today that our goal is to become the largest carmaker in China by the end of this year.

In response to the recent price war in China's auto market, Wang Chuanfu said that the reason for the price war is the contradiction between supply and demand, and supply exceeds demand. Some enterprises will be eliminated, and some enterprises will gain a larger market share. Home appliances, mobile phones and other industries are called in this way, and new energy and cars are no exception. The market has also entered a knockout stage in 2023, and if supply exceeds demand, the price war will continue. Wang Chuanfu also said that the price war did have a psychological impact on consumers, but it is believed that the impact will be reduced by the end of April. With the development of local auto shows in May, market confidence will gradually recover. It is believed that in May, China's auto market will return to a relatively good level of growth.

Wang Chuanfu also said that Chinese car demand in January and February was slightly weaker than the same period last year, but BYD maintained a strong growth, with sales in January and February up by about 84.2% compared with the same period last year. Wang Chuanfu said that in a few days, the March data will be released, and it is believed that sales in the first quarter will still maintain a growth rate of more than 80% compared with the same period last year.

Wang Chuanfu said that the Tengli brand has received more than 50,000 orders, and luxury goods look up to the brand to target a million yuan market segment, and despite facing "great challenges", it has still achieved good results. China's new energy vehicle market has entered a stage of comprehensive expansion. Battery demand remains strong, consumer demand for batteries is slowing, and global demand for smartphones remains sluggish.

In addition, Wang Chuanfu also revealed that the IPO plan for BYD's semiconductor business is still in progress.

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