BYD Reports Record-Breaking Revenue of RMB 777.1 billion in 2024

BYD released its 2024 financial report, with key indicators reaching record highs! The company achieved a revenue of RMB 777.1 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. 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, also a record high. Cash reserves hit a record-breaking RMB 154.9 billion, further strengthening the company’s financial stability.

BYD 2024 Financial Report – Key Operating Data

Technology-based, innovation-oriented

As 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, literally 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. In March, the “Super e-Platform” technology was released.The platform achieves a charging power of one megawatt (1,000kW), the highest peak charging speed for mass-production vehicles.