In a recent interactive dialogue between BYD and investors or shareholders, through more than 30 questions, the market status, vendor strategy and investor mentality of the new energy vehicle industry were revealed. For example, 40% of its revenue comes from The decline in subsidies for new energy vehicles and national new energy vehicles will affect the estimated price of new energy vehicles next year by about 8%. Whether it is for A-share investors or for the new energy vehicle industry, it is of great value.
Operating income was 72.798 billion yuan, a year-on-year increase of 50.12%. Net profit was 3.664 billion yuan, an increase of 86.82% over the same period of last year. This is BYD's operational data from January to September 2016. Afterwards, BYD in-depth describes the current business status and future development of BYD to investors and analysts from all over the world, and also reflects the current status and future development trend of new energy vehicles and transportation industry.
New energy market status
1. New energy is the main driver of income growth
According to the data of the National Passenger Cars Joint Conference, the total sales volume of domestic new energy passenger cars was 151,324 vehicles on January -9, 2016, and the sales volume of BYD new energy vehicles was 70,790, accounting for 46.7% of the national total sales. Ranked first in the ranking of new energy vehicle sales.
The sales of new energy vehicles directly boosted the company's total revenue growth. From 1 to 9 2016, BYD Group achieved operating income of 72.798 billion yuan, a year-on-year increase of 50.12%. The net profit was 3.664 billion yuan, a year-on-year increase of 86.82%.
In the BYD Group's total revenue, about 40% of new energy vehicles, traditional fuel vehicle sales accounted for 20%, mobile phone components and assembly business accounted for more than 30%, and less than 10% of the remaining 3C batteries and photovoltaic power generation business. If you cut off other businesses such as mobile phones and photovoltaics, the revenue of the new energy vehicle business has already accounted for two-thirds of the entire BYD auto business revenue, becoming a veritable pillar business of BYD.
2. Plug-in hybrid is the first step in car electrification
At present, BYD's new energy vehicles include three pure electric vehicles, e5, e6 and Qin EV, as well as Tang and Qin plug-in hybrid models. According to the data of the passenger car joint meeting, in the first 11 months of this year, the sales of these five models were 13,219, 18,077, 10,137, 29,895 and 21,047. The sales volume of two plug-in hybrid models Tang and Qin accounted for 32.3% and 22.7% respectively. Both accounted for 55.1% of BYD's total sales of all new energy vehicles.
At present, although electric vehicles are the trend of the times, it is also the development direction that the Chinese government has vigorously guided. However, due to the short battery life and imperfect charging infrastructure, its further promotion in China is also facing difficulties. In fact, it is for this reason that mainstream European and American automakers, such as BMW, Audi, Toyota, and Honda, are launching plug-in hybrid versions for their mainstream models, such as the BMW 5 Series and the new X1. Plug-in hybrid version, Audi A6L e-tron and other models.
Honda's executive director and executive director of the Honda Institute of Technology, Ms. Minhiro, said in a forum a few days ago that by 2030, Honda's sales of plug-in hybrids will reach in the automotive product system. Two-thirds of the whole.
3. Battery technology: a trick can not eat all over the sky
In the 2008 financial crisis, Buffett bought a 10% stake in BYD for HK$1.8 billion, which attracted worldwide attention. The outside world also interpreted Buffett’s reason for investing in BYD as optimistic about BYD’s accumulation of vehicle battery technology.
Wang Chuanfu optimistic about the development of electric vehicles 12 years ago? In 2003, BYD, which is in the field of mobile phone battery, announced the acquisition of Qinchuan Automobile and obtained the qualification of automobile production. However, this move has not been recognized by investors. BYD’s share price has dropped from 18 Hong Kong dollars to 9 Hong Kong dollars. Wang Chuanfu explained and explained, “I made The car is optimistic about the future development of electric vehicles, and the iron phosphate battery I have mastered will dominate the rivers and lakes after 12 years."
BYD did achieve a dazzling moment in a flash. In 2008, BYD's first hybrid model, the F3DM, was launched. Bosch and Volkswagen also showed interest in BYD's iron phosphate battery technology. In 2010, Daimler proposed to cooperate with BYD. The two parties established a joint venture company, Shenzhen BYD Daimler New Technology Co., Ltd. (the company has now changed its name to Tengshi Motor) to produce the electric vehicles of the Tengshi brand, BYD. Providing powertrains and battery packs, Daimler is responsible for vehicle and interior design, and BYD is able to achieve this position based on its ferric phosphate battery technology, and all its electric/hybrid models are also equipped. It is an iron phosphate battery.
The advantage of lithium iron phosphate battery is its safety, its high temperature resistance and puncture resistance are stronger, and the number of cycles is also more, but the disadvantage is that the energy density is low and the low temperature phenotype is poor. The ternary lithium battery has an advantage in battery capacity and power. More and more car companies are choosing to use this solution, including Tesla, GM, BMW and other companies.
But BYD is now preparing to replace a battery route.
BYD said that it has been engaged in research and development of nickel-cobalt-manganese-lithium batteries for a long time, and the corresponding battery factory is under construction. Next year, BYD models equipped with ternary lithium batteries will be seen.
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