Fast Technology, March 25th news. The company released its strongest financial report yet in 2024, reporting a net income of 7771.02 billion yuan in 2024, a 29.02% increase from 2023. The same year, the net income for non-dividend shareholders was 402.54 billion yuan, a 34.00% increase from 2023.

At the same time, BYD's cumulative R&D investment exceeded 180 billion yuan; its total domestic tax payment reached a record high of 51 billion yuan; and its cash reserves reached a record 154.9 billion yuan, resulting in a more stable financial situation.

BYD mentioned in its financial report.The average payment cycle for the company to pay its upstream suppliers is 127 days, which is better than the average payment cycle of major listed automotive companies in the domestic market.

Previously, Tesla's Vice President Tao Lin announced on Weibo that the payment cycle for supply chain partners in 2024 will only be around 90 days.

In a comparison with Tesla, the other four Chinese new energy vehicle manufacturers' payment cycles to suppliers are all over 160 days, with some companies reaching as high as 300 days.

She believes that partnering with business associates to win together through technology innovations makes the cost efficient, and therefore, can make the business go further. Industry can flourish more and consumers can enjoy better products for a long time.