Third Quarter Financial Report Reveals BIAD's Continued Success

Beijing Biyanda Automobile Company Limited, commonly known as BEV or BYD, has announced its third quarter financial report, showing a significant increase in revenue and sales compared to the same period last year.

Revenue Growth

The company reported an operating revenue of RMB 2011 billion (approx. USD 308 million) in the third quarter, representing a 24.04% year-over-year (YoY) growth. For the first three quarters, BEV's total operating revenue reached RMB 5022 billion (approx. USD 761 million), showing a 18.94% YoY increase.

Net Profit Reaches New Heights

BEV's shareholders' net profit reached RMB 116 billion (approx. USD 17.7 million), with a 11.47% year-over-year growth. The first three quarters saw the company's shareholders' net profit reach RMB 252 billion (approx. USD 38.2 million), displaying an 18.1% YoY increase.

New Vehicle Launches

BEV unveiled several new vehicle models that feature the latest fifth-generation DM technology, including the SongPro DM-i, Hai Shi 05 DM-i, Bei Shi 07 DM-i, Song L DM-i, and SongPLUS DM-i. These new launches, combined with previously announced QinL DM-i and Hai Shi 06 DM-i models, helped boost BEV's sales in the third quarter.

Third-Quarter Sales Break Records

BEV's single-month sales reached an all-time high of 419,426 units in September 2022, surpassing previous peak sales during January by a factor of two. The company's combined sales of new vehicles for the first three quarters exceeded 2.74 million units, representing a 32.13% year-over-year growth and a total of 113.49 million units sold.

Key Competitors: BEV Leaps Ahead of Tesla

In terms of revenue, the Beiyang Group, or BEV's parent company, surpassed its main rival, Tesla Inc., for the first time in the third quarter, as its revenue reached 2,011 billion US dollars (approx. 147 trillion CNY). However, net profit remains ahead for Tesla.

Comparison Chart:

| Quarter | BYD Revenue (USD) | Tesla Revenue(USD) | | --- | --- | --- | | Q3 | 308 million | 761 million | | Pre-Season 2022 | 1386/1.8T$ | 151/1.9T$ |

The latest third quarter sales for BYD reached an even record high, surpassing those achieved with Tesla, and both had only slightly increased sales in September of this year.

Sales Performance

Many top-selling vehicle models by BEV, such as the new SongPLUS DM-i, QinL DM-i, Hai Shi 06 DM-i, and Song L DM-i, have continued to maintain their leading position in terms of monthly sales. According to BYD, the monthly sale for these vehicles falls within between 20,000 to 400,000 units.

This translates into combined quarterly new vehicle totals for BEV at over 2.74 million vehicles sold, demonstrating its strong performance and remarkable growth capabilities.