BYD's operating income and net profit climbed rapidly in the first half of this year. However, it is worth noting that although BYD earned a lot of money in the first half of this year, the net cash flow from operating activities was negative, which is related to BYD's massive expansion of new energy vehicles. BYD's 2016 semi-annual report showed that BYD's operating income in the first half of this year was 44.95 billion yuan, a year-on-year increase of 42.3%. The net profit attributable to shareholders of listed companies was 2.26 billion yuan, a year-on-year increase of 384.2%. Among them, BYD Auto and related products business revenue of about 24.194 billion yuan in the first half of the year, up 36.46% year-on-year, of which new energy vehicle business revenue of about 15.546 billion yuan, an increase of about 1.60 times, accounting for 34.58% of the group's total revenue; mobile phones Revenue from components and assembly business was approximately 16.564 billion yuan, up 44.23% year-on-year; revenue from secondary rechargeable batteries and photovoltaic business was approximately 4.174 billion yuan, up 76.57% year-on-year.
It is worth noting that although operating income and net profit increased rapidly, BYD's net cash flow from operating activities in the first half of this year was -14.28 billion yuan, down 147.27% from 3.022 billion yuan in the same period last year. In an interview with the "First Financial Daily" reporter on August 29, BYD insiders said that the new energy vehicle is the strategic direction for the transformation and upgrading of China's auto industry. It is now in a critical period of accelerating development. BYD is accelerating the layout of new energy vehicles. At this stage, large investments are made to promote the expansion of the new energy vehicle market. It is normal for a company to have a negative net cash flow from operating activities during the growth period. Due to the opportunity to seize the development of new energy vehicles, and BYD's financing ability is not bad, BYD's automotive business will continue to grow steadily.
In the first half of this year, BYD's new energy vehicle sales increased by 130.74% year-on-year to approximately 49,000 units; among them, pure electric vehicles sold about 22,000 units, a year-on-year increase of 310.82%. According to data released by the China Association of Automobile Manufacturers, BYD has a market share of approximately 27% in the new energy vehicle sector in the first half of this year and a market share of approximately 36% in the field of new energy passenger vehicles. However, BYD's traditional cars sold about 131,000 units in the first half of the year, down 29.61% year-on-year. The above-mentioned insiders of BYD said that the company is in the period of product structure adjustment, and is slanting more resources to new energy vehicles. The decline in the market share of traditional vehicles is inevitable.
In order to grasp the opportunities brought about by the explosive growth of the new energy automobile industry, BYD completed the non-public issuance of A shares in the last month, raising a net amount of approximately RMB 14.369 billion. This will provide financial support for the continued rapid growth of BYD's new energy vehicle business. The funds raised are intended to be used for the expansion of iron-powered lithium-ion batteries and research and development of new energy vehicles, to expand the capacity of BYD's power battery and accelerate the development of new energy vehicle basic technologies and new models.
From January to June this year, the sales volume of new energy vehicles in China was 170,000 units, a year-on-year increase of 126.9%, far higher than the increase of 8.1% in China's overall automobile market. Wang Binggang, a special expert on the major technology of electric vehicles in the 863 Program of the Ministry of Science and Technology, said in an interview with the “First Financial Daily†on the 29th that, under the policy push, the growth of new energy vehicles in the second half of the year is expected to be better than the first half.
"In the first half of this year, new energy vehicles continued to maintain rapid growth, but the growth rate in the fourth quarter of last year has slowed down. However, the growth rate in the fourth quarter of last year is a bit abnormal, and there have been false reports of sales, fraud, etc. The situation, after rectification, is now gradually returning to rationality. With the implementation of new energy subsidies and other policies in 2016, this will drive sales of new energy vehicles in the second half of the year.†Wang Binggang thinks so.
At present, the state and various provinces and cities have successively launched a number of new energy vehicle support policies, while strengthening monitoring and management to promote the healthy development of the new energy vehicle industry. In August 2016, the National Development and Reform Office issued a draft for the “Measures for the Management of Carbon Equity for New Energy Vehiclesâ€, solicited opinions from government departments and industry associations, and strengthened the control and management of carbon emissions from automobiles. BYD believes that this policy is an opportunity for the company. According to BYD's plan, further increase investment, expand production capacity, speed up the research and development and listing progress of new models. In the future, with the launch of more new models, the product portfolio will continue to be optimized, and the sales of new energy vehicles are expected to further increase and expand the scale effect. In turn, the income and profitability of new energy vehicles will be improved. In addition, in order to further develop the urban public transportation business, BYD utilizes the battery, motor and electronic control technologies accumulated in the field of new energy vehicles, and strives to develop a low-carbon and environmentally-friendly straddle-type monorail to solve the increasingly serious traffic congestion problem in large and medium-sized cities.
In addition to launching new energy vehicles, BYD has also stepped up its pace in the field of smart cars. It has established a research and development team to conduct in-depth research and development of intelligent driving basic technologies and application technologies. At present, BYD has improved the level of vehicle intelligence through technologies such as remote control and cloud services. Many intelligent driving technologies, including automatic parking and adaptive cruise, will be gradually applied in the future to promote the evolution of automobiles from manual driving to intelligent driving.
Electirc Healthy Teapot,Glass Teapot,Electric Teapot,Multi Function Health Teapot
Shaoxing Haoda Electrical Appliance Co.,Ltd , https://www.hotplates.nl