BYD released its 2024 financial report, with key indicators reaching record highs. The company achieved a revenue of RMB 777.1 billion (USD 107 billion), representing a 29% year-on-year increase, and a net profit attributable to shareholders of RMB 40.25 billion, marking a 34% year-on-year growth.
Research and Development (R&D) investment reached RMB 54.2 billion, up 36% year-on-year, setting a new record and bringing the company’s total R&D investment to over RMB 180 billion.
The total domestic tax contribution reached RMB 51 billion, which is also a record high. Cash reserves hit a record-breaking RMB 154.9 billion, further strengthening the company’s financial stability.
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Technology-based, innovation-oriented
Technology-based, innovation-orientedAs of 31 December 2024, the Group averaged 45 patent applications and 20 patent licenses per working day. During the year, the Group successively unveiled a series of groundbreaking technologies, setting the trend for industry development.
At the beginning of the year, the Group introduced its new intelligence strategy, “Integrated Vehicle Intelligence,” achieving efficient integration of electrification and intelligence.
The advanced intelligent driving assistance system, known as “DiPilot Advanced Intelligent Driving Assistance System” (天神之眼), was also formally equipped with the mapless city navigation function nationwide, solidifying its position in the top tier of advanced intelligent driving.
The “Super e-Platform” technology was released in March. The platform achieves a charging power of one megawatt (1,000 kW), the highest peak charging speed for mass-production vehicles.
