Chinese EV maker BYD doubles Q1 2025 net profit

China’s electric vehicle (EV) manufacturer BYD has reported a 100.4% surge, year-on-year, in net profit attributed to the shareholders for the first quarter (Q1) of the 2025 financial year. Net profit in Q1 reached 9.15bn yuan ($1.3bn).

Operating revenue for the period stood at 170.36bn yuan, up from 124.94bn yuan a year earlier.

The growth in operating revenue was largely attributed to the expansion of BYD’s new energy vehicle (NEV) business.

The company recorded a 16.10% decline in net cash flow from operating activities to 8.58bn yuan in Q1 2025.

In a press statement, BYD said: “During the reporting period, the company strengthened its capacity to further advance its technological capabilities and accelerate its overseas expansion.

“Further, the company was able to enrich its shareholder base and optimise its structure of assets and liabilities by attracting a number of high calibre institutional investors to participate in the placing. The company completed the placing and issue of a total of 129,800,000 new H shares of the company to not less than six places on 11 March 2025.”

Basic and diluted earnings per share were 3.12 yuan, a jump of 98.73%.

The company’s total assets as at the end of the reporting period stood at 840bn yuan, a year-over-year increase of 7.30%.

Last month, Reuters reported that BYD plans to double its overseas sales to over 800,000 units in 2025.

The company intends to manage tariffs by assembling vehicles locally and identified Britain as a key growth market, citing its openness to competitive Chinese products.

In 2024, BYD sold 417,204 units outside China and anticipates a “substantial rise” in its UK market share.

Last week, BYD signed an agreement with Saudi oil major Aramco to advance new energy vehicle technologies.

A joint development agreement was signed between Saudi Aramco Technologies Company (SATC) and BYD to enhance vehicle efficiency and environmental performance.

"Chinese EV maker BYD doubles Q1 2025 net profit" was originally created and published by Just Auto, a GlobalData owned brand.

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