BYD's net profit in 2017 was 4.066 billion yuan, down 19.51% year-on-year

On March 27th, BYD released the 2017 annual report. The company's 2017 revenue for the year was 105.917 billion yuan, an increase of 2.36% year-on-year. The net profit for the year was 4.066 billion yuan, a year-on-year decrease of 19.51%. Revenue from the energy and automotive business was approximately RMB 39.06 billion, an increase of 12.83% year-on-year, accounting for a further 36.88% of the company's revenue.

According to the disclosure, due to the subsidy of new energy vehicles, the profitability of this business, especially the electric bus, has dropped significantly, which has brought greater pressure on the overall profitability of the company. Traditional car sales are expected to achieve rapid growth, but market competition Still fierce, to some extent affected the profitability of traditional automotive business.

However, in 2017, revenue from BYD's mobile phone parts and assembly business was approximately RMB 39.7 billion, which represented an increase of approximately 4.27% year-on-year. BYD’s technology and mature technology in the field of metal components received high-end flagship model orders from leading smartphone manufacturers. It provides metal housings and metal middle frame products. At the same time, BYD emphasizes that: 'In 2017, we actively developed the 3D glass housing business, made adequate technology reserves and production capacity distribution, and successfully won orders from domestic and foreign leading mobile phone manufacturers and achieved mass production. Shipping, for the company to cultivate new revenue growth. '