BYD Q3: Surprisingly profitable, with monthly earnings exceeding 1.9 billion yuan, and sales exceeding 200,000 units in September


On October 28, BYD Co., Ltd. (002594, BYD) released its financial report for the third quarter of 2022. According to the financial report, BYD achieved revenue of 117.081 billion yuan, a year-on-year increase of 115.59%; net profit was 5.716 billion yuan, a year-on-year increase of 350.26%.


In the third quarter, BYD’s average daily revenue reached an astonishing 1.272 billion yuan, and its average monthly net profit reached 1.905 billion yuan. Such astonishing ability to make money is envied by peers, and it also makes everyone look at him.


Regarding the performance growth, BYD said that the change in operating income in the first three quarters was mainly due to the increase in the new energy vehicle business.


From the sales data, in September this year, BYD sold a total of 201,300 new energy vehicles, a year-on-year increase of more than 183%. This is the first time that BYD’s monthly sales exceeded 200,000. BYD’s cumulative sales this year has exceeded 1 million units, reaching 1.1753 million units, a year-on-year increase of 249.6%. On the sales list of domestic passenger car manufacturers in September, BYD has become the sales leader, with a market share of 9.9%.


In addition, BYD announced that the company and its subsidiaries plan to purchase lithium battery equipment from the joint-stock company Dongguan Derui Precision Equipment Co., Ltd., and the amount of related transactions is expected to not exceed 1.13 billion yuan.


Recently, many industry insiders and melon eaters believe that BYD is expected to grow into the most profitable manufacturer of new energy vehicle companies. Some people even ridiculed that a generation of “Di Wang” appeared.