Yesterday evening, BYD announced the profit forecast for the first half of 2023. Profit will reach $9.8 billion (average), an increase of 223.5% year-on-year, and an amazing growth rate. If the second half was able to maintain this number, the annual earnings would reach $200 billion (supportive more than that, I will analyze down). What is the concept of $200 million in China's automotive industry? SAIC MOTOR, the leading automobile industry in China, sold more than 5 million cars a year, and the peak profit of about $36 billion a year. If BYD's annual profit reaches $200 billion, it is 56% of SAIC MOTOR at its peak. Although only 56%, it was SAIC's peak profit, and in general SAIC MOTOR is only $300 billion a year. Moreover, SAIC MOTOR contains multiple sub-brands, and BYD is a single independent brand. Secondly, BYD can reach this level in a very short time, in fact, is already very powerful.
BYD's auto sales volume in the first half of the year was 12.48,000 vehicles, up 95.6% year-on-year. Under the sales volume growth of only 95.6%, profit rose sharply by 223.5%, which means that BYD's scale and efficiency is already very significant this year. However, the above situation is basically expected. More than 10 years ago, when the automotive market was still in the world of fuel vehicles, BYD was still struggling to insisted on the development of hybrid cars and pure electric cars. When the major traditional depot also gained strong profits in the fuel car market, BYD buried a new energy car that had no demand at that time. What BYD has done in the past, it has been grinding a sword for ten years, and it has always owed...