BYD (BYDDF) ( (BYDDF) ) has realeased its Q3 earnings. Here is a breakdown of the information BYD (BYDDF) presented to its investors.
BYD Company Limited, a leading Chinese manufacturer in the automotive and electronics sectors, is known for its innovations in electric vehicles and renewable energy solutions. The company released its third-quarter earnings report for 2024, showcasing significant growth in revenue and profits.
In the third quarter of 2024, BYD reported an operating revenue of approximately RMB 201.1 billion, marking a 24.04% increase compared to the same period last year. The net profit attributable to shareholders was RMB 11.6 billion, an 11.47% increase year-on-year. The company also reported a notable rise in total assets, reaching RMB 764.3 billion, which is a 12.47% increase from the end of the previous year.
Key financial metrics revealed that BYD’s net cash flow from operating activities saw a decline of 42.5%, attributed primarily to increased cash payments for goods and services and employee expenses. Despite this, the company maintained a solid growth trajectory in its core automotive business, with significant increases in receivables financing and inventories reflecting higher demand and production capacity.
Looking ahead, BYD remains optimistic about its role in the evolving new energy sector. The company is poised to leverage its advancements in electric vehicles and renewable technology to capitalize on the growing market for eco-friendly transportation solutions, aligning with national and global sustainability goals.
