EV maker BYD’s Q4 net profit soared 1,114% on year

 

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Chinese electric vehicle and power battery company BYD Company reported a net profit of 16.6 billion yuan for the year of 2022, surging 445.86% from the year before. Revenue surged 96.2% to 424 billion yuan.

The company declared a divide of 11.42 yuan in cash per 10 shares. 

For the fourth quarter of 2022, the company’s net income attributable to shareholders reached 7.3 billion yuan in the fourth quarter of 2022, skyrocketing 1,114.29 % from a year earlier and up 27.89% from the third quarter. Revenue in the quarter surged 120% year over year to 156.4 billion.

Revenue from autos and auto-related product business reached about 324.7 billion yuan in 2022, jumping 151.78% from the year before, accounting for 76.57% of its total revenue.