With the continuous changes in the global automotive market and the rapid development of technology, China's auto manufacturing industry has demonstrated varying business performance in the first half of 2024. Auto Door Network will analyze the financial reports of four auto manufacturers, BYD, Thalys, Geely, and Great Wall, for the first half of 2024, and take into account sales data to review the financial status and market performance of each auto company.

First, let's look at BYD, the leader in China's new energy vehicle (NEV) industry. BYD Co., Ltd. achieved operating revenue of RMB 301.127 billion in the first half of 2024, a year-on-year increase of 15.76%. In terms of profits, there was no lag, with gross profit for the half-year period increasing by 26.42% year-on-year to RMB 60.28 billion, representing a gross margin of 20%, up from 18.33% in the same period last year. Net profit reached RMB 13.631 billion, a year-on-year increase of 24.44%. Additionally, BYD's financial report for the first half shows that the company invested RMB 20.2 billion in research and development (R&D), a 42% increase over the same period last year. BYD's strong performance is attributed to its continuous investment and technological innovation in the NEV field.

According to sales data, BYD sold 1,612,983 NEVs in the first half of 2024, a year-on-year increase of 28.5%. Notably, BYD's "Qin PLUS" and "Seagull" models performed particularly well, selling 241,372 and 167,861 units, respectively. BYD's high sales and profits are attributed to its strong technological R&D capabilities and brand influence. Additionally, BYD's breakthroughs in battery technology and electric platforms have laid a solid foundation for the company's long-term development.

Next, let's turn to Thalys. In the first half of 2024, Thalys achieved actual operating revenue of RMB 65.044 billion, a significant increase of 489.58% over the same period last year. The company's total profit reached RMB 1.699 billion, marking its first profitable year, with a gross margin of 25.04%. In terms of other expenses, Thalys only invested RMB 2.827 billion in R&D, which is still relatively low in the industry. Sales expenses amounted to RMB 9.337 billion, accounting for a relatively large proportion.

Thalys also delivered impressive sales performance, with 200,900 vehicles sold in the first half of 2024, a year-on-year increase of 348.55%. Thalys' performance in the NEV sector is equally noteworthy, especially with the large-scale delivery of its premium model, AITO M9, and the recent launch of AITO M7 Ultra and M7 PRO. Through its collaboration with Huawei, Thalys has enhanced the intelligence of its products and firmly established its position in the fiercely competitive market with smart driving technology. However, compared to BYD, Thalys' profits are relatively low, which may be related to high marketing expenses and vehicle costs.

Moving on to Geely Auto. In the first half of 2024, Geely Auto achieved operating revenue of RMB 107.3 billion, a year-on-year increase of 46.6%. Net profit reached RMB 10.6 billion, a substantial year-on-year increase of 575%. More importantly, Geely's revenue and net profit growth were achieved against the backdrop of its transformation towards NEVs. In other words, the pains of the electrification transition did not negatively impact Geely's performance. Geely's sales figures were also impressive, with 956,000 vehicles sold in the first half of 2024, a year-on-year increase of 40.98%.

Geely's success is attributed to its multi-brand strategy and international layout. Geely's sub-brands, including Lynk & Co., Geometry, and Zeekr, have all delivered strong market performance. In particular, Lynk & Co.'s premium models, the "Lynk & Co. 01" and "Lynk & Co. 03," have achieved notable success in the market. Through acquisitions and partnerships, Geely has continuously expanded its global market influence, which is one of the reasons for its ability to maintain high profits.

Finally, let's examine Great Wall Motors. In the first half of 2024, Great Wall Motors achieved operating revenue of RMB 91.429 billion, a year-on-year increase of 30.67%. Net profit reached RMB 7.079 billion, a substantial year-on-year increase of 419.99%. Gross profit per vehicle also increased significantly, reaching RMB 34,200, a year-on-year growth of 50.37%. This marks the fourth consecutive year of growth for Great Wall Motors. Sales figures were also positive, with 554,900 vehicles sold in the first half of 2024, a year-on-year increase of 6.95%.

Great Wall Motors is highly competitive in the SUV and pickup truck segments. Its pickup trucks have ranked first in sales for 26 consecutive years, with a domestic market share of nearly 50%. In the SUV segment, Great Wall Motors is represented by its Tank brand. Through the continuous launch of new models and technological innovation, Great Wall Motors has enhanced the market competitiveness of its products. However, compared to the other three auto companies, Great Wall Motors' profits are relatively low, which may be related to its concentrated product line and intense market competition.

Through comparative analysis, we can see that BYD, Thalys, Geely, and Great Wall Motors all achieved solid financial and market performance in the first half of 2024. Among them, BYD and Geely stood out in terms of sales and profits, while Thalys and Great Wall Motors demonstrated competitiveness in specific areas. The success of these auto companies is attributed to their technological innovation, brand building, and forward-looking strategic layouts. Looking ahead, as the automotive market continues to expand and technology advances, these companies are poised for even better and faster development.

(Images sourced from the internet, please remove upon infringement)