【1211 Performance】BYD ADR down 5% in Hong Kong, earning 19% less last year, final dividend 0.358 RMB

BYD (01211)
announced its full-year results for 2025, with revenue of 803.96 billion yuan (RMB, the same below), a year-on-year increase of 3%, of which 310.7 billion yuan came from overseas sales, and a net profit of 32.62 billion yuan, down 19% year-on-year.

BYD’s final dividend per share is 0.358 yuan; after a 1-for-3 stock split last year, the final dividend for 2024 will be 3.974 yuan, with a bonus of 20 shares (8 red shares and 12 shares from capitalization increase).

BYD’s ADR is adjusted to 101.45 HKD, which is 4.7% lower than the closing price of 106.5 HKD in Hong Kong.

BYD stated that the preliminary sales volume was 4.6 million vehicles, with preliminary overseas exports of 1.05 million vehicles, and R&D investment of 63.4 billion yuan, an increase of 17%, with cash reserves of 167.8 billion yuan.

During the period, the revenue from automobiles, automotive-related products, and other products was 648.65 billion yuan, an increase of 5% year-on-year, of which revenue from contracts with customers in China (including Hong Kong, Macau, and Taiwan) was 457.04 billion yuan, down 12%, and overseas revenue was 191.35 billion yuan, a significant increase of 92%.

As for revenue from mobile phone components, assembly, and other products, it was 155.2 billion yuan, down 3%, of which revenue from contracts with customers in China (including Hong Kong, Macau, and Taiwan) was 35.9 billion yuan, down 4%, and overseas revenue was 119.29 billion yuan, down 2%.

BYD Chairman Wang Chuanfu pointed out that in March this year, the second-generation blade battery and flash charging technology were released, achieving “normal temperature charging, from 10% to 70% in just 5 minutes; from 10% to 97% in just 9 minutes; at minus 30 degrees, from 20% to 97% in just 12 minutes,” setting a new record for the fastest charging speed in global mass production, tackling the global challenges of “slow charging” and “difficult low-temperature charging” in the first half of electrification. At the same time, the “Flash Charging China” strategy was launched, leading China’s new energy vehicles into the era of flash charging, helping to perfectly conclude the first half of electrification.

As for BYD Electronics (00285)
last year’s revenue was 179.48 billion yuan, an increase of 1.2%, with a net profit of 3.52 billion yuan, down 17.6%, and a final dividend per share of 0.156 yuan, down 73% year-on-year.