Quick Technology News, August 28 - BYD today released its financial report for the first half of 2024.

The report shows that the company's total revenue during this period reached RMB 301.127 billion, an increase of 15.76% year-on-year, while net profit reached RMB 13.631 billion, a significant increase of 24.44% year-on-year.

Specifically, the company's primary source of revenue - automobiles, automobile-related products, and other products - contributed approximately RMB 228.317 billion in revenue, an increase of 9.33% year-on-year. On the other hand, the mobile phone components, assembly, and other product businesses also performed well, with revenue of approximately RMB 72.778 billion, a soaring 42.45% year-on-year.

In terms of R&D, BYD remains relentless, investing up to RMB 20.2 billion in the first half of the year, a 42% increase from the same period last year. This figure is approximately RMB 6.6 billion higher than the net profit for the same period. To date, the company's cumulative R&D investment has approached RMB 150 billion.

On the path of innovation, BYD continues to lead the way. To date, the total number of patents applied for globally has exceeded 48,000, with over 30,000 authorized patents, and the R&D team has grown to over 100,000 personnel.

Looking ahead, BYD commits to continuing to unwaveringly increase its R&D investment, aiming to bring even more disruptive experiences to users.