After exceeding the annual sales target of new energy vehicles, BYD (002594) inadvertently handed over an excellent performance answer sheet.
On the evening of January 29, BYD released its 2023 performance forecast, showing that during the period, the company is expected to achieve a net profit of 29 billion yuan to 31 billion yuan, an increase of 74.46% to 86.49% over the same period last year, and is expected to achieve a non-net profit of 27.4 billion yuan to 29.7 billion yuan, an increase of 75.22% to 89.92% over the same period last year, and basic earnings per share of 9.98 yuan/share to 10.67 yuan/share, compared with 5.71 yuan/share in the same period last year.
BYD, net profit is expected to be 29 billion +
On January 1, 2024, BYD announced its production and sales report for December 2023. According to the report, BYD's new energy vehicle sales in December 2023 will be 341,000 units, a year-on-year increase of 45%, and the cumulative annual sales volume will be 3,024,400 units, exceeding the previously set target of selling 3 million new energy vehicles in 2023.
In addition, the total installed capacity of BYD's new energy vehicle power batteries and energy storage batteries in December 2023 will be about 17.746GWh, and the cumulative installed capacity in 2023 will be about 150.909GWh.
In the performance forecast, BYD also said that in 2023, the new energy vehicle industry will continue to maintain a rapid growth trend, and the company's new energy vehicle sales will hit a record high, further consolidating its leading position as the world's No. 1 new energy vehicle sales. Despite the fiercer competition in the industry, the company has achieved significant improvement in profitability and demonstrated strong resilience by virtue of the continuous improvement of brand power, the rapid growth of overseas sales, the continuous expansion of scale advantages and the strong cost control ability of the industrial chain.
In terms of mobile phone parts and assembly business, benefiting from the increase in the business share of overseas key customers and the recovery of Android customer demand, the rapid growth of new energy vehicles and new smart products, the capacity utilization rate increased significantly, the business structure was further optimized, the profitability was significantly improved, and the profit achieved substantial growth.
BYD is not the only company that will see a significant increase in NEV sales in 2023.
In December 2023, SAIC Motor Motor sold a record 219,000 new energy vehicles, and in 2023, it sold 1.123 million new energy vehicles, ranking second among Chinese automakers.
GAC Group's new energy brand Aion sold 45,900 units in December 2023, up 53% year-on-year, and the cumulative sales in 2023 were 480,000 units, up 77% year-on-year.
In addition, Li Auto's sales in December 2023 also exceeded the 50,000 mark, about 50,400 units, a year-on-year increase of 137.1%. In 2023, a total of 376,000 units were delivered, with a year-on-year growth rate of 182.2%.
The rapid growth of BYD and other car companies is in the context of the rapid development of the new energy vehicle industry chain in the mainland.
On the evening of January 29, Guoxuan Hi-Tech (002074), the earliest domestic enterprise engaged in the independent research and development, production and sales of power lithium-ion batteries (packs) for new energy vehicles, also released a 2023 performance forecast, showing that the company's net profit increased significantly during the period, and the non-net profit turned into a profit.
Guoxuan Hi-Tech said that during the reporting period, benefiting from the rapid development of the new energy industry, the market demand for power and energy storage lithium batteries was strong, and the company's lithium battery business developed rapidly. In 2023, the company's overseas business has shown initial results, with further improvement in market development capabilities, further improvement in energy storage business delivery capabilities, and good returns.
In 2023, Guoxuan Hi-Tech expects to achieve operating income of 31 billion yuan to 33 billion yuan, compared with 23.052 billion yuan in the same period of last year, net profit of 800 million yuan to 1.1 billion yuan, an increase of 157% to 253% over the same period of last year, non-net profit of 85 million yuan to 120 million yuan, a loss of 515 million yuan in the same period last year, and basic earnings per share of 0.45 yuan/share to 0.62 yuan/share, compared with 0.18 yuan/share in the same period last year.
According to the data, in the first half of 2023, China's automobile exports have surpassed Japan to become the world's largest and largest automobile exporter, and the proportion of automobile exports in the total export value increased from 0.6% in 2020 to 2.8%, reaching US$46.48 billion, a year-on-year increase of 108.2%.
According to data released by the Passenger Car Association at the beginning of this year, in 2023, the cumulative retail sales of domestic passenger cars will be 21.699 million units, a year-on-year increase of 5.6%. Among them, in December 2023, the retail sales volume of the domestic passenger car market was 2.353 million units, an increase of 8.5% year-on-year and 13.1% month-on-month.
The Passenger Association said that 2023 will be a year for Chinese automobiles to "create miracles", with total vehicle sales (including passenger cars and commercial vehicles) exceeding 30 million, showing the strong potential and market development space of the automobile industry. With the continuous contribution of electrification transformation and export growth, it will be a trend for China's annual automobile production and sales to exceed 40 million units in the future.
Editor-in-charge: Zhu Yumeng
Proofreader: Tao Qian
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BYD, net profit is expected to be 29 billion +
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