Summary by Futu AI
In the third quarter of 2024, BYD Company Limited achieved revenue of approximately 201.1 billion, a year-on-year increase of 24.04%; net profit reached 11.6 billion, a year-on-year increase of 11.47%. Year-to-date, revenue amounted to 502.2 billion, an 18.94% increase year-on-year; net profit was 25.2 billion, an 18.12% increase year-on-year; net cash flow from operating activities was 56.2 billion, a decrease of 42.5% from the same period last year. Management pointed out that the revenue growth was mainly driven by the automobiles business, supported by increasing investments in bank wealth management and advance payment for material procurement to expand the business. Despite the decrease in cash flow, the company maintains a healthy balance sheet, with total assets growing by 12.47% to 764.2 billion. Looking ahead, company executives are increasing their shareholding, demonstrating confidence in the prospects of the new energy fund industry and the company's development. Major risks include fluctuations in market demand and exchange rate variations. The company will continue to focus on technological innovation and market expansion to address challenges.
