Leading electric car maker BYD (SH:002594) released a new logo, though today the company's shares are down 1%.
On the afternoon of February 17, BYD's official Weibo said that BYD Group and its BYD automobiles upgraded the brand identity.
Overall, the new logo has become more "rounded".
According to BYD's official statement, the group's new logo retains the passionate red color and ring circumference, adjusts the round frame lines, and changes the original glyph sharp angle to a more mathematically beautiful rounded corner. The whole is more rounded and generous, showing a sense of affinity and openness, and realizing the perfect combination of technical aesthetics and humanistic feelings.
But for the new logo, netizens have a mixed reputation. Some people complained that "it seems to have changed, and it seems that it has not changed." This is reminiscent of the hot discussion caused by Xiaomi's release of a new logo not long ago. At that time, Xiaomi spent 2 million yuan to invite the famous Japanese designer Hara Kenya to personally design the design. However, due to the fact that the new and old logos do not look much different, they were ridiculed by netizens as "whether they have been deceived".
BYD's competitor Xiaopeng Automobile also changed its logo not long ago. The new logo as a whole is no longer presented in a balanced four-part form, but more like a butterfly flying with its wings outstretched.
There are also enthusiastic netizens who list a number of brand new and old logo comparison charts, this picture is jokingly called "everyone comes to find stubble". Overall, the brand side basically changes little when replacing the new logo. Some netizens said that for the mature brands of large companies, the logo can only be slightly changed, and the big change is easy to cause users to disagree.
In fact, BYD Auto issued a new logo on January 1 last year, indicating that the new logo is only used in the domestic passenger car market, and the other businesses of the group remain unchanged from the original logo.
At that time, after the release of the new logo, BYD rose more than 6% for two consecutive days.
However, this TIME BYD logo upgrade is not so lucky. On February 18, BYD's stock price fell 1%, closing at 242.96 yuan / share, and the total market value of A shares was 660 billion yuan, down nearly 30% from the high point of 333.33 yuan / share in October 2021.
BYD's logo has undergone many changes in its history. At the beginning of its establishment in 2003, BYD used a blue and white logo, but because of the high similarity with the logo of bmw, it was complained about by netizens. Since 2007, the company has replaced the long-used "Blue Sky and White Clouds" logo with an existing logo composed of three letters and an oval outline of "BYD", which is both the initial of BYD's pinyin and the abbreviation of BYD's corporate culture: Build Your Dreams.
Spit to complain, the market is most concerned about, naturally or BYD's performance. As a leader in electric vehicles, BYD sold a total of 603,800 new energy vehicles last year, an increase of 218.3% year-on-year. In addition, with the great success of blade batteries, BYD expanded its market share in the global power battery field to 8.8% in 2021 (SNE Research).
Entering 2022, BYD ushered in a good start, and sales in January directly dried up Tesla. In January this year, BYD won the first place in new energy vehicle sales with 93,000 new energy vehicles; in comparison, Tesla sold only 60,000 vehicles that month.
However, BYD's financial performance last year was not ideal. According to financial data, BYD achieved revenue of 145.192 billion yuan in the first three quarters, an increase of 38.25% year-on-year; net profit attributable to the mother was 2.443 billion yuan, down 28.43% year-on-year; deducted non-net profit of 886 million yuan, down -64.45% year-on-year.