BYD is a high-tech company devoted to technological innovations for a better life. BYD was founded in February 1995, and after more than 20 years of fast growth, the company has established over 30 industrial parks worldwide and has played a significant role in industries. BYD is principally engaged in automobile business which includes new energy vehicles and traditional fuel-engined vehicles, handset components and assembly services, rechargeable battery and photovoltaic business, as well as the urban rail transit business segment which the Group has actively developed. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions. BYD is listed on the Hong Kong and Shenzhen Stock Exchanges, with revenue and market capitalization each exceeding RMB 100 billion.
In 2019, BYD recorded a total revenue of approximately RMB121,778 million, representing a year-on-year decrease of 0.01%, among which, the revenue from the automobile business and related products amounted to approximately RMB59,537 million, representing a year-on-year decrease of 17.04%; the revenue from the handset components and assembly business amounted to approximately RMB52,522 million, representing a year-on-year increase of 27.05%; the revenue from the rechargeable batteries and photovoltaic business amounted to approximately RMB9,719 million, representing a year-on year increase of 11.95%. These three business segments accounted for 48.89%, 43.13% and 7.98% of the Groups total revenue, respectively.
BYD automobiles business is comprised of new energy vehicles, traditional fuel-engined vehicles, electric buses, and urban transit.
One of the most important of automobiles business is new energy vehicle, which contributes most in BYD.
As a leading new energy vehicle (NEV) manufacturer, BYD has a lot of supply chain advantages comparing with Telsa, NIO , etc. BYD’s NEVs have ranked No.1 in global sales for three consecutive years. Developing electric vehicles that are intelligent and connected, BYD is inaugurating a new age of automotive innovation. Relying on the development of core technologies, diversification of design language and the perfected product portfolio, the Group continued to enhance its product competitiveness.
In 2019, BYD continued to upgrade product matrix of the Dynasty Series by launching new models during the year, including the brand new generation of “ Tang EV ”, the brand new “ Song Max ” plug-in hybrid version, the brand new “Yuan EV”, the brand new “Qin EV” and the modified edition of “Song Pro”, which have won unanimous praise in the market for their excellent performance and appearance. In 2019, the “Yuan EV” and the “Tang DM” ranked among top five in new energy vehicle sales in China.
Another important one is urban transit for future growth.
To create a solution for urban traffic congestion, BYD invested a total of RMB 5 billion and mobilized more than 1,000 engineers in a five-year R&D project to create BYD SkyRail, a straddle-beam monorail system featuring proprietary technologies for switches, bogies, track beams and other core technologies across the supply chain.
Relying on its own innovative capabilities and expertise, BYD builds the entire SkyRail system, including the complete vehicle, tracks, stations and communication systems.
In the future, along with the commencement of domestic and oversea projects in the domestic and foreign markets, it is expected that the related businesses will generate new growth space for the Group.
Handset Components and Assembly Business
As one of the world’s providers of smart product solutions with the strongest comprehensive competitiveness, BYD provides complete vehicle design, component production and complete vehicle assembly services for domestic and foreign mobile phone manufacturers and other smart mobile terminal suppliers.
In line with continued breakthroughs in market development and business expansion, the front-end demand has increased. In order to provide better services and satisfy the diversified needs of different strategic customers, the Group launched a global strategy to expand the production capacity, building advanced manufacturing bases at home and abroad. On top of the manufacturing bases in Shenzhen, Huizhou, Shantou, Shanwei, Shaoguan and Xi’an, the newly-built base within this year in Changsha has come on stream successfully, meanwhile, new bases in Zhongshan and Xi’an are under construction. Overseas, two new manufacturing bases in Europe have been put into production, and manufacturing bases in Southeast Asia have also commenced its production.
Rechargeable Batteries and Photovoltaic Business
BYD’s rechargeable batteries mainly include lithium-ion batteries and iron batteries products, which are widely used in mobile phones, electronic tools and other portable electronic devices. In 2020, the Group’s traditional battery business achieved steady growth with its market share continued to increase. In addition, the photovoltaic market has seen a remarkable recovery since 2019, which boosted the growth of the Group’s photovoltaic business to some extent.
BYD has developed PV+Storage, a new business model focused on renewable energy production, storage and applications, designed to change the world by leveraging new energy solutions.
As the founder Wang Chuanfu said, in the future, new energy automobiles and urban rail transit business will continue to be an important strategic development direction of BYD. BYD will continue to actively promote electrification in various fields. This move will not only help BYD realize long-termand healthy development, but also deliver the Group’s sense of social responsibility.
BYD is dedicated to building a zero-emission ecosystem through new energy solutions, and continuously innovate for better life.