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on august 28, the byd news anti-fake office posted a microblog stating that the company will formally file a lawsuit against self-media accounts such as "xiao yu doesn't understand cars" and "hulang talks about cars". the specific situation is as follows:

1. the self-media "xiao yu doesn't understand cars" published false and insulting remarks in its videos, defaming the reputation of byd and fangchengbao brands.

2. the self-media “hulang shuoche” and jiang mou published insulting and slanderous remarks against byd on multiple platforms, with obvious subjective malice.

byd said that the company will continue to safeguard its legitimate rights and interests through legal means.

on the evening of august 28, byd, the leader in new energy vehicles, handed in its half-year performance report.

byd co., ltd. (01211.hk) announced on the hong kong stock exchange that in the first half of 2024, the group achieved revenue of approximately rmb 301.127 billion, a year-on-year increase of 15.76%.

among them, the revenue of automobile, automobile-related products and other product businesses was approximately rmb 228.317 billion, a year-on-year increase of 9.33%; the revenue of mobile phone components, assembly and other product businesses was approximately rmb 72.778 billion, a year-on-year increase of 42.45%.

in the first half of the year, the profit attributable to owners of the company was rmb 13.631 billion, a year-on-year increase of 24.44%; earnings per share were rmb 4.68.

image source: photo by kong zesi, reporter of china business network

the announcement shows that during the reporting period, byd's operating income increased mainly due to the increase in new energy vehicle business and mobile phone parts and assembly business. the profit attributable to equity holders of the parent company increased by 24.44% compared with the same period last year, mainly due to the growth of new energy vehicle business.

in terms of gross profit, byd's gross profit increased by approximately 26.42% to approximately rmb 60.267 billion in the first half of 2024, and its gross profit margin increased from approximately 18.33% in the first half of 2023 to approximately 20.01% during the period. the announcement showed that the company's gross profit margin increased mainly due to the increase in new energy vehicle business.

public data shows that in the first half of 2024, byd's cumulative sales reached 1.613 million vehicles, a year-on-year increase of 28.46%.

among them, the sales volume of pure electric vehicles was 726,200 units, a year-on-year increase of 17.73%; the sales volume of plug-in hybrid models was 881,000 units, a year-on-year increase of 39.54%.

in terms of overseas markets, byd exported a total of 203,000 vehicles in the first half of the year, a year-on-year increase of 173.8%.

image source: photo by wang yan, reporter of china business network