On the evening of August 29, BYD released its financial report for the first half of 2025, with all key indicators reaching record highs for the same period: revenue reached 371.3 billion yuan, up 23% year-on-year; net profit attributable to shareholders was 15.5 billion yuan, an increase of 14% year-on-year; R&D investment amounted to 30.9 billion yuan, up 53% year-on-year and far exceeding net profit for the same period; cash reserves reached 156.1 billion yuan, making the company’s financial position increasingly robust.
While pursuing steady development, BYD has always adhered to fulfilling its social responsibilities and actively giving back to society. In the first half of 2025, BYD's total domestic tax payments reached 27.1 billion yuan, exceeding its net profit for the same period by more than 10 billion yuan.
Performance growth outpaces overseas giants
Due to the pressure on the global economy and factors such as trade wars, the semi-annual reports of leading overseas automakers show a trend of "stagnant revenue and declining profits," with the net profit of several giants falling by more than 30%.
In contrast, BYD achieved steady growth in the first half of the year, breaking through the market with strong performance and outpacing many overseas giants in terms of growth rate. This fully demonstrates the resilience and potential of China's automobile industry.
From January to July 2025, BYD's global sales reached 2.49 million vehicles, a year-on-year increase of 27.4%. The overseas market performed particularly well, with BYD's passenger cars and pickups overseas sales exceeding 550,000 units in the first seven months, a year-on-year growth of over 130%. Sales have already surpassed the total for the entire previous year, and overseas sales are expected to challenge the one million mark this year. As of July, BYD's new energy vehicles have entered more than 112 countries and regions worldwide, achieving the number one position in new energy vehicle sales in the first half of the year in several countries including Italy, Turkey, Spain, and Brazil.
Crowned as the "King of R&D" in the A-share market for consecutive years
In 2024, BYD became the "R&D King" of the A-share market for the first time. In the first half of this year, BYD's R&D investment reached 30.9 billion yuan, a year-on-year increase of 53%, which is twice its net profit during the same period, securing its position as the "R&D King" of the A-share market for the first half of the year.
As of now, BYD has accumulated over 210 billion yuan in R&D investment, with the development philosophy of "technology as king, innovation as the foundation" deeply ingrained in its DNA. As a result, BYD has launched groundbreaking technologies such as the "God's Eye" advanced driver assistance system, the Super e-Platform Megawatt Fast Charging, and the Lingyun onboard drone system. Additionally, it has become the world's first automaker to offer a comprehensive "all-inclusive" guarantee for smart parking.
How strong is BYD's technological capability? According to the authoritative releases by China Automotive Information Technology, BYD has overwhelmingly topped the three major rankings: "Global New Energy Vehicle Technology China Patent Authorization Ranking," "Global Hybrid Vehicle Technology China Patent Authorization Ranking," and "Global Pure Electric Vehicle Technology China Patent Authorization Ranking." With a comprehensively leading number of patents, BYD demonstrates its profound accumulation and robust R&D strength in the field of new energy vehicle technology.
Conclusion: The global automotive industry is undergoing accelerated transformation. Unlike overseas giants who are gradually entering a period of adjustment, BYD, leveraging its strong technological reserves, precise market strategies, comprehensive product line coverage, and accelerated global expansion, has laid a solid foundation for sustained and steady growth in performance, positioning itself to seize strategic opportunities in this round of industry transformation.
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