1.65 billion yuan is earned every day! China's most profitable car company was born

Recently, the net profit ranking of car companies has been released, and China's most profitable car company was born, earning 1.65 billion yuan every day, which has benefited shareholders, employees and the country. Which car company is so powerful?

1. The birth of China's most profitable car company

Recently, car companies have released their 2023 financial reports.

Among them, BYD's revenue last year was as high as 602.32 billion yuan, a year-on-year increase of 42.0%. Based on this accounting, BYD earned 1.65 billion yuan every day last year, which can complete 16 and a half "small goals", which is really comparable to a money printing machine.

At the same time, BYD's profitability has increased significantly, with a net profit of 30.04 billion yuan last year, a year-on-year increase of 80.72%, that is, 82.3 million yuan per day.

In the net profit ranking of car companies, BYD not only tops the list, but also leads far ahead, with a net profit equal to the sum of the three car companies SAIC, Ideal and Great Wall.

2023 is a year in which China's automotive industry, especially new energy vehicle companies, is mired in a price war. In the fierce competition, BYD Champion Edition series models have set off huge waves in the market with their ultra-low prices.

However, BYD's net profit and gross profit margin have risen instead of falling, and its gross profit margin was as high as 23.6% last year, far exceeding Tesla's 18.2%.

This shows that the price war has not affected BYD's profits, and the rest is full of strength.

The fundamental reason is that BYD has three advantages that are difficult for other car companies to have: industry-leading core technology, the layout model of the whole industry chain, and the scale effect is becoming more and more apparent.

2. Wang Chuanfu created two miracles

In the past two years, the automotive industry has entered a period of deep reshuffle, and the fierce price war has accelerated the survival of the fittest.

In the fierce competition, BYD, under the leadership of Wang Chuanfu, achieved an excellent sales of 3.02 million units last year, realizing the two miracles of Chinese automobiles.

First, in the domestic market, BYD has become the double sales champion of enterprises and brands in China's auto market, breaking the 40-year monopoly history of joint venture brands in one fell swoop.

BYD's achievement shows that Chinese cars have finally surpassed foreign cars in the domestic market, which is enough to make all Chinese raise their eyebrows.

Second, with a sales volume of 3.02 million units, BYD has unprecedentedly ranked among the top ten car companies in the world, leading Chinese automobiles to new heights.

On the list of the world's top ten car companies, BYD beat Suzuki and ranked ninth, squeezing out BMW, a frequent customer on the list.

It is worth noting that except for BYD's market share, which has increased significantly compared with 2022, the other nine car companies are declining.

BYD's market share from 2021 to 2023 will be 0.9%, 2.3%, and 3.5% respectively, rising very fast, showing the strong development potential and promising future of "the world's first brother of new energy".

3. Shareholders, employees, and the country benefit

BYD's success is equivalent to making a huge cake, and shareholders, employees, and the country can share the dividends.

First of all, BYD's ability to make money last year was so strong, shareholders are the direct beneficiaries, and they will definitely make a lot of money. If nothing else, you can know the autumn from the stock dividends.

At the same time as the release of the annual report, BYD started a large dividend and announced a heroic dividend plan:

It is planned to distribute a cash dividend of 30.96 yuan to all shareholders for every 10 shares, with an estimated dividend amount of 9.012 billion yuan and a dividend rate of about 30%. In this regard, every BYD shareholder smiled.

Second, employees benefit. In 2023, the number of BYD employees will be as high as 703,500, including 524,700 production personnel, 37,500 sales personnel, 104,000 technical personnel, 34,200 administrative personnel, and 3,193 financial personnel.

As a result, BYD has far surpassed JD.com, which has 560,000 employees, and Huawei, which has 210,000 people, to become the private enterprise with the largest number of employees.

Last year, BYD's salary expenditure exceeded 80 billion yuan, and the average annual salary of employees was 128,000 yuan. Behind this is the employment of countless people, as well as the lives of countless families.

For each of us ordinary people and ordinary families, the more companies like BYD, the better.

Finally, the state benefits. In 2023, BYD will pay income tax of 5.925 billion yuan, contributing tax revenue to the country.

More importantly, BYD's success proves its absolute leadership in the field of new energy vehicles in the world.

Moreover, it also highlights the accuracy and forward-looking choice of the development path of China's automobile industry, and lays a solid foundation for the sustainable and healthy development of China's automobile industry and the realization of corner overtaking as soon as possible.

For the whole country, every industry needs more companies like BYD, Huawei, DJI, etc.