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BYD said it expects net income in the first quarter to be between RMB 8.5 billion and RMB 10 billion, an increase of 86.04 percent to 118.88 percent year-on-year.
BYD (HKG: 1211, OTCMKTS: BYDDY) previewed solid first-quarter results, though not as strong as the fourth quarter of 2024.
The new energy vehicle (NEV) maker expects its net income for the first quarter to be between RMB 8.5 billion ($1.16 billion) and RMB 10 billion, up 86.04 percent year-on-year to 118.88 percent, according to a stock exchange announcement during the lunch break today.
BYD expects its basic earnings per share for the first quarter to range from RMB 2.91 to RMB 3.42, up from RMB 1.57 in the same period last year.
China's NEV industry maintained strong growth momentum in the first quarter, and the company, an industry leader, saw the highest first-quarter performance in NEV sales, BYD said.
BYD's overseas NEV sales grew significantly in the first quarter, further consolidating its position as the world's No. 1 seller of NEVs, it said.
In addition, the continuously expanding scale effect and vertically integrated strategic layout helped the group's business profitability achieve significant growth, BYD said.
($1 = RMB 7.3280)
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