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BYD Company (1211) investor relations material
BYD Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Operating revenue for Q3 2025 was RMB 194.98 billion, down 3.05% year-over-year; year-to-date revenue reached RMB 566.27 billion, up 12.75% year-over-year.
Net profit attributable to shareholders for Q3 was RMB 7.82 billion, down 32.60% year-over-year; year-to-date net profit was RMB 23.33 billion, down 7.55% year-over-year.
The company completed a major share distribution plan, increasing total share capital from 3.04 billion to 9.12 billion shares.
Financial highlights
Net profit after extraordinary items for Q3 was RMB 6.89 billion, down 36.65% year-over-year; year-to-date was RMB 20.49 billion, down 11.65%.
Basic and diluted EPS for Q3 were RMB 0.85, down 36.09% year-over-year; year-to-date EPS was RMB 2.56, down 11.42%.
Weighted average return on net assets for Q3 was 3.40%, down 4.08 percentage points year-over-year.
Net cash flow from operating activities for Q3 was RMB 40.85 billion, down 27.42% year-over-year.
Total assets at period end were RMB 901.93 billion, up 15.14% from year-end 2024.
Outlook and guidance
The company increased R&D investment by 31.3% year-over-year to RMB 43.75 billion for the first nine months, indicating a focus on innovation and future growth.
Explain Q3 net profit decline drivers
Funding strategy for capex and R&D
Inventory build-up vs. Q3 revenue dip
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Next BYD Company earnings date
Q4 202525 Mar, 2026
Next BYD Company earnings date
Q4 202525 Mar, 2026
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Frequently asked questions
EVs, Battery Tech, and More
BYD Company Limited is a Chinese multinational conglomerate that specializes in manufacturing a wide array of products ranging from electronic components to various types of vehicles. Its vehicle business, BYD Auto, is its largest and most famous division and focuses on EVs. Besides vehicles, BYD's product portfolio includes rechargeable batteries, photovoltaic products, and various electronic components. The firm also provides assembly services for whole products and is also active in renewable energy solutions and urban rail transit systems. The company is headquartered in Shenzhen, Guangdong, China, and its shares are listed on the Hong Kong and Shenzhen Stock Exchanges.
Founding and Growth
BYD was founded in 1995, with an initial focus on rechargeable phone batteries. In 2003, BYD ventured into the automotive industry by acquiring the state-owned automobile manufacturer Tsinchuan Automobile Company, which allowed it to commence car production under the BYD Auto brand. In the years to follow, BYD gained international recognition for its advancements in battery technology, particularly in lithium-ion batteries, which are used in mobile phones, electric EVs, and other electronic devices. Notably, Warren Buffet’s legendary Berkshire Hathaway invested in the company in 2009. BYD has continued to diversify its business operations, venturing into electric buses, trucks, monorail systems, and large-scale energy storage solutions.
BYD Auto
BYD Auto specializes in the development, manufacturing, and sale of various types of vehicles, focusing particularly on electric vehicles, which include battery-electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles. The business segment produces vehicles of all kinds, including private cars, commercial vehicles, trucks, buses, and more.
BYD Electronics
BYD's electronics business is a major global player in the manufacturing of components and providing assembly services for consumer electronics, telecommunications, and IT industries. It specializes in rechargeable batteries, with a product range that includes cell phone batteries, laptop batteries, and batteries for other portable electronics. This segment also produces photovoltaic products, including solar panels and solar energy storage solutions.
Besides automotive and electronics, BYD also operates an energy division, a rail transit division, a semiconductor division, and more.
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