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BYD Company (1211) investor relations material
BYD Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue reached RMB803.96 billion, up 3.46% year-over-year, driven by NEV business growth.
Net profit attributable to shareholders was RMB32.62 billion, down 18.97% year-over-year due to product mix changes and lower gross margin.
Gross profit margin declined to 17.74% from 19.44% in 2024.
Overseas revenue surged to RMB310.7 billion, accounting for 38.65% of total revenue.
R&D investment reached RMB63.4 billion, up 17% year-over-year.
Financial highlights
Operating revenue: RMB803.96 billion (+3.46% YoY).
Net profit attributable to shareholders: RMB32.62 billion (-18.97% YoY).
Gross profit: RMB142.66 billion (-5.56% YoY).
Gross margin: 17.74% (down from 19.44%).
Basic and diluted EPS: RMB3.58 (down from RMB4.61).
Operating cash inflow: RMB59.14 billion (down from RMB133.45 billion in 2024).
Total assets: RMB883.73 billion; net assets: RMB246.27 billion.
Outlook and guidance
NEV penetration expected to continue rising, supported by policy incentives and technological innovation.
Focus on global expansion, especially in Europe, Latin America, and Asia-Pacific.
Continued investment in R&D, intelligentization, and electrification to drive product upgrades and premiumization.
Targeting further growth in overseas sales and localized manufacturing.
- Q3 profit fell 33% year-over-year as margins tightened and operational cash flow declined.1211
Q3 202530 Oct 2025 - Net profit rose 34% YoY to RMB40.25B on strong revenue and margin gains.1211
Q4 20242 Oct 2025 - Net profit rose 24.44% to RMB13.6 billion on record NEV sales and margin gains.1211
Q2 20242 Oct 2025 - H1 2025 revenue up 23.3% and net profit up 13.8%, with unaudited results released.1211
Q2 20252 Oct 2025 - Q3 revenue up 24% and net profit up 11%, with management boosting shareholdings.1211
Q3 202413 Jun 2025 - Q1 2025 net profit soared 100% on strong new energy vehicle growth and capital raise.1211
Q1 20256 Jun 2025
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