BYD Company (1211) Q3 2025 earnings summary

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.