Chinese EV giant BYD's fourth-quarter profit leaps 73pc

BYD's shares in Hong Kong have risen by 51 percent year-to-date and are currently slightly off an all-time-high reached last week.

The Chinese EV champion overtook Volkswagen to lead China's car sales with a record 4.25 million vehicles in 2024.

The company has continued to roll out cheaper models, contributing to the deepening of a brutal two-year price war in the world's largest auto market.

It has also roiled the market in recent weeks by unveiling a new super-charging EV technology platform and announcing that it will offer smart driving features on most of its line-up at no extra charge.

Sales of autos and related products that accounted for 79.4 percent of the company's operating revenue generated a 22.3 percent gross profit margin last year, up 1.3 percentage points from a year earlier.

The automaker said earlier this month it had raised HK$43.5 billion in a primary share sale that was increased in size, with proceeds to be invested in research and development, and expanding overseas, among other purposes.

BYD is considering Germany for a possible third plant in Europe, Reuters has reported. Its overseas shipments jumped 71.9 percent last year to make up 10 precent of overall car sales.

REUTERS