BYD Announces First-Half 2026 Results: Profits Decline, but Export Volumes Rise

*This content was translated by AI.

Chinese automaker and battery manufacturer BYD released its first-half 2026 financial results on the 28th. While profits declined due to exchange rate fluctuations causing currency conversion losses, sales volumes, particularly overseas exports, surged significantly. However, Chairman Wang Chuanfu pointed out issues with battery production capacity.

BYD's detailed first-half revenue figures show that from January to June, total revenue reached approximately 344.815 billion yuan (about 70.2335 trillion won), a 7.13% decrease compared to the same period last year. Net profit was approximately 12.32 billion yuan (about 2.5093 trillion won), marking a sharp 20.54% decline. The drop in net profit was primarily driven by foreign exchange losses from short-term currency fluctuations. In the second quarter alone, net profit increased by 30% year-on-year, and the gross profit margin reached 18.9%.

Revenue from the automotive and related sectors amounted to approximately 275.34 billion yuan (about 56.0812 trillion won), a decrease of 8.98%, accounting for 79.85% of total revenue.Revenue from electronics and other sectors reached approximately 69.45 billion yuan (about 14.1364 trillion won), an increase of 0.96%. Cumulative sales of new energy vehicles (NEVs) from January to June totaled approximately 1.8085 million units, a 15.72% decline.

Chairman Wang Chuanfu cited insufficient production capacity for the second-generation Blade battery currently in the Yangsan phase as the reason for declining sales, stating that this year's sales volume will depend on battery production output.

In contrast, first-half exports reached 792,000 units, a sharp 67.8% increase compared to the same period last year, accounting for approximately 44% of total sales. Combined sales of premium brands Denza, Fangqingbao, and Yangwang totaled about 228,000 units, up 61%. Domestic sales in China during the first half reached approximately 1.016 million units, narrowing the gap with Geely Automobile's domestic sales of about 950,000 units.

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*This content was translated by AI.