Hundreds of car parks | Must be out of the boutique
Recently, BYD new energy vehicles have been selling crazy!
According to the data, BYD sold 88,283 new energy vehicles in February, an increase of 764.1% year-on-year. Among them, the sales of pure electric vehicle models were 43173 units, an increase of 301.65% year-on-year; the sales of plug-in hybrid models were 44300 units, an increase of 1080.55% year-on-year.
In the first two months of this year, the cumulative sales of BYD automobiles have reached 186,500 units, an increase of 194.5% over last year.
In the past 2021, bydir Automobile's cumulative sales were 730093 units, an increase of 75.4% year-on-year, of which the sales of new energy passenger cars reached 593745 units, an increase of 231.60% year-on-year.
However, while new energy vehicles are selling out, net profits are declining.
Recently, BYD announced the revenue in 2021, BYD achieved operating income of 216.142 billion yuan in 2021, an increase of 38.02% year-on-year; net profit attributable to shareholders of listed companies of 3.045 billion yuan, a year-on-year decrease of 28.08%; deduction of non-net profit of 1.255 billion yuan, a year-on-year decrease of 57.53%.
It is worth mentioning that the net profit was 3.045 billion yuan, including 2.263 billion yuan of government subsidies included in the current period. After deducting government subsidies, BYD's actual net profit in 2021 is only 782 million yuan.
In 2022, subsidies for new energy vehicles will end. At that time, how much profit will BYD still have?
Why do new energy vehicles sell out and sell out, but the net profit has declined? The answer is given in the annual report.
According to the annual report, in 2021, the gross profit margin of BYD automobiles and related products was only 17.39%, down 7.81% year-on-year. In contrast, both WEILAI and Ideal Gross Margin remained at around 20%.
However, the difference between BYD and Weilai and Nio is that BYD's gross profit margin includes the gross profit margin of the whole vehicle, batteries and other parts. Weilai and Ideal only contain the whole vehicle.
We know that BYD's automotive business covers the whole vehicle and battery, and the batteries produced by BYD are basically all supplied. As for the reason for the decline in gross profit margin, there is a very important aspect, that is, the price increase of raw materials in cost, and the price of materials used in batteries is several times and dozens of times the price increase.