Consumer Durables
BYD Co. Ltd.
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Company Background
BYD is a major Chinese automaker based in Shenzhen, Guangdong Province. It sells vehicles under the BYD brand.
Founded in 1995, BYD started out as a battery maker and entered the automobile business in 2003. The company has diversified into areas such as cellphone assembly and solar cell manufacturing. Leveraging its strength as a battery maker, the company is developing electric and plug-in hybrid vehicles.
BYD Chairman Wang Chuanfu, who was once the richest man in China, still has supreme power within the company. Wang holds about a 23% stake in BYD as of March 2015, making him the largest shareholder. A subsidiary of Berkshire Hathaway, run by U.S. billionaire investor Warren Buffett, bought into the company in 2008. It is still a major shareholder with about a 9% stake.
Business Summary
BYD Co. Ltd. engages in the research, development, manufacture and sale of rechargeable batteries and photovoltaic business. It operates its business through four segments: Rechargeable Battery and Other Products; Mobile Handset Components and Assembly Service; Automobiles and Related Products; and Corporate and Others. The Rechargeable Battery and Other Products segment manufactures and sells lithium-ion and nickel batteries principally for mobile phones, electric tool, and other portable electronic instruments and new energy products. The Mobile Handset Components and Assembly Service segment consists of mobile handset components such as housings, keypads, and the provision of assembly services. The Automobiles and Related Products segment comprises of automobiles, auto-related moulds and components, automobiles leasing, after sales service, and skyrail related business. The company was founded on February 10, 1995 and is headquartered in Shenzhen, China.
Financial Highlights
| Dec 2018 | HKD | USD |
| Revenue | 144,255.73M | 18,405.72M |
| Gross Profit | 21,539.22M | 2,748.21M |
| Operating income | 5,022.34M | 640.80M |
| Income before tax | 5,460.76M | 696.74M |
| Net income | 3,010.56M | 384.12M |
| EBITDA | 16,015.96M | 2,043.49M |
| Diluted EPS | 1.10 | 0.14 |
| Dividends Per Share | 0.23 | 0.02 |
| Total Assets | 221,880.51M | 28,339.58M |
| Total liabilities | 154,918.59M | 19,786.90M |
| Total equity | 58,503.15M | 7,472.28M |
| Operating cash flow | 10,702.01M | 1,365.48M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 69,680.22M | 95,732.88M | 117,084.53M | 118,365.07M | 144,255.73M |
| Gross Profit | 8,954.38M | 13,829.57M | 22,567.45M | 20,857.78M | 21,539.22M |
| Operating income | 1,186.03M | 4,410.92M | 9,295.36M | 7,161.73M | 5,022.34M |
| Income before tax | 1,253.92M | 4,980.52M | 8,375.49M | 6,739.98M | 5,460.76M |
| Net income | 545.60M | 3,432.29M | 5,655.18M | 4,407.59M | 3,010.56M |
| EBITDA | 6,487.25M | 10,965.16M | 17,377.08M | 15,190.78M | 16,015.96M |
| Diluted EPS | 0.22 | 1.38 | 2.19 | 1.61 | 1.10 |
| Dividends Per Share | 0 | 0 | 0.62 | 0.17 | 0.23 |
| Total Assets | 117,508.79M | 137,832.93M | 161,846.96M | 213,798.62M | 221,880.51M |
| Total liabilities | 80,003.94M | 96,805.74M | 102,641.80M | 144,492.01M | 154,918.59M |
| Total equity | 31,706.38M | 34,724.34M | 52,948.48M | 61,352.83M | 58,503.15M |
| Operating cash flow | -2,020.66M | 2,611.97M | -4,669.03M | 4,315.21M | 10,702.01M |
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 8,985.56M | 12,348.52M | 15,083.43M | 15,188.99M | 18,405.72M |
| Gross Profit | 1,154.70M | 1,783.86M | 2,907.25M | 2,676.54M | 2,748.21M |
| Operating income | 152.94M | 568.96M | 1,197.47M | 919.01M | 640.80M |
| Income before tax | 161.69M | 642.43M | 1,078.97M | 864.89M | 696.74M |
| Net income | 70.35M | 442.73M | 728.53M | 565.59M | 384.12M |
| EBITDA | 836.55M | 1,414.39M | 2,238.60M | 1,949.33M | 2,043.49M |
| Diluted EPS | 0.02 | 0.17 | 0.28 | 0.20 | 0.14 |
| Dividends Per Share | 0 | 0 | 0.08 | 0.02 | 0.02 |
| Total Assets | 15,152.94M | 17,784.54M | 20,874.99M | 27,349.42M | 28,339.58M |
| Total liabilities | 10,316.63M | 12,490.82M | 13,238.72M | 18,483.62M | 19,786.90M |
| Total equity | 4,088.58M | 4,480.47M | 6,829.28M | 7,848.34M | 7,472.28M |
| Operating cash flow | -260.57M | 336.91M | -601.48M | 553.74M | 1,365.48M |
Valuation Measures
| Dec 2018 | |
| PER | 39.69 |
| ROA | 1.38% |
| ROE | 5.02% |
| Operating margin | 3.48% |
| Profit margin | 2.08% |
Key executives
- Chairman, President & General Manager: Chuan Fu Wang
- Chief Financial Officer: Ya Lin Zhou
- Vice President: Huan Ming Liu
- Vice President & General Manager-Division I: Nian Qiang Wang
- Vice President & General Manager-Division 14: Hong Bin Luo
Shareholders
- Berkshire Hathaway, Inc. (24.5%)
- Himalaya Capital Management LLC (8.2%)
- The Vanguard Group, Inc. (2.7%)
- BlackRock Fund Advisors (2.3%)
- Norges Bank Investment Management (1.1%)
- Global X Management Co. LLC (0.6%)
- Dimensional Fund Advisors LP (0.5%)
- BlackRock Investment Management (UK) Ltd. (0.5%)
- BlackRock Advisors (UK) Ltd. (0.4%)
- Hang Seng Investment Management Ltd. (0.3%)
Contact Details
- Website:http://www.byd.com.cn
- Address: No.1, Yan'an Road, Kuichong Street, Shenzhen, 518118, China
- Phone: +86.755.8988.8888
Related Companies
- BYD Auto Finance Co., Ltd.
- Huizhou Byd Battery Co., Ltd.
- BYD (Shenzhen) Supply Chain Management Co., Ltd.
- Changsha BYD Auto Co., Ltd.
- BYD (Wuhan) Electronic Co., Ltd.
- BYD Motors, Inc.
- BYD (Shangluo) Industrial Co., Ltd.
- BYD Auto Industry Co., Ltd.
- Ogihara Corp. /Tatebayashi Ops/
- Shanghai BYD Co. Ltd.
- BYD Lithium Batteries Co., Ltd.
- BYD Industry & Commerce Co., Ltd.
- Byd Electronic Hungary Ltd.
- Beijing Byd Mould Co. Ltd.
- Byd Automobile Co. Ltd.
- BYD (Huizhou) Co. Ltd.
- BYD Auto Sales Co., Ltd.
- BYD Battery Co. Ltd.
- BYD America Corp.
- BYD (Ningbo) Semi-conductor Co. Ltd.
- BYD Hungary Kft
- BYD (H.K.) Co. Ltd.
- Shanghai BYD Lithium Battery Co. Ltd.
- BYD Auto Co., Ltd.
- Xian Zhen Chuan Automobile Ltd
- BYD Electronic (International) Co., Ltd.
Competitors
- Beiqi Foton Motor Co., Ltd. Class A
- Hengdian Group DMEGC Magnetics Co., Ltd Class A
- CBAK Energy Technology, Inc.
- Alstom SA
- SHIN HEUNG ENERGY & ELECTRONICS Co., Ltd.
- Xiamen King Long Motor Group Co. Ltd. Class A
- Cummins Inc.
- SolarEdge Technologies, Inc.
- Electrovaya Inc.
- Tianjin Motor Dies Co. Ltd. Class A
- Advanced Lithium Electrochemistry (Cayman) Co. Ltd.
- NFI Group Inc.
- ADOMANI, Inc.
- Engie EPS SA
- Gentex Corporation
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Last Updated on 18 Nov, 2019