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byd's investment in intelligence has ushered in the decisive battle.

the latest semi-annual report shows that byd has lost a lot of money in r&d in the past 6 months.20.2 billion, which is equivalent to110 million per daythe r&d funds are burning.

not only did they spend all their net profits, but they also lost money.6 billion。

what does 6 billion mean? it is more than the ideal auto, which is also investing a lot of money in r&d.half a yeartotal r&d expenditure.

this is the interim performance report released by byd on august 28.

in addition to the astonishingly high r&d investment, other data in this financial report also performed well.

in the first half of the year, byd delivered a total of 1.61 million new vehicles, a year-on-year increase of 28.6%.

operating revenue was 301.1 billion yuan, a year-on-year increase of 15.76%; revenue from automobile-related businesses was 228.2 billion yuan, a year-on-year increase of 9.3%; and net profit was 14.11 billion yuan, a year-on-year increase of 23.4%.

in the first half of the year, the gross profit margin of complete vehicles was 22.4%, which still exceeded that of most new energy vehicle companies, but compared with the previous quarter, it fell by 5.7 percentage points.

more core data will be analyzed one by one below.

surpassed honda and nissan, becoming the seventh largest car manufacturer in the world for the first time

according to the financial report, byd delivered 1.613 million new vehicles in the first half of the year, a year-on-year increase of 28.46%, equivalent tobyd sells 6 cars every minute.。

among them, global deliveries in the second quarter reached 980,000 vehicles, a year-on-year increase of 40% and a month-on-month increase of 56.5%.

according to the latest data released by market research firm marklines on august 23, byd's sales in the second quarter surpassedhonda motorandnissan,becomethe world's seventh largest automaker。

in the same period last year, byd's sales of 700,000 vehicles ranked first in the world.tenth。

the strong growth in automobile sales has also driven a significant increase in byd's operating income.

byd in the first half of the yearoperating income301.1 billion yuan, a year-on-year increase of 15.76%. on average, byd1.67 billion yuan in deposits every day。

among them, the operating income in the second quarter was 176.2 billion yuan, a year-on-year increase of 25.9% and a month-on-month increase of 41%.

segmented business structure, first halfautomobiles and automobile related productsthe revenue from other product businesses was 228.317 billion yuan, a year-on-year increase of 9.33%, accounting for 76% of the total revenue.

andmobile phone parts and assemblythe revenue from other product businesses was 72.778 billion yuan, a year-on-year increase of 42.45%, accounting for 24% of the total revenue.

first halfnet profitit was 14.17 billion yuan, a year-on-year increase of 23.4%, and the average profit per vehicle was 7,500 yuan.

the net profit in the second quarter was 9.34 billion yuan, an increase of 32.3% over the same period last year and an increase of 1.3% over the first quarter of this year.doubled。

in the first half of the year, byd group's overall gross profit margin was 20.01%, compared with 18.3% in the same period last year. this growth was mainly due toautomobile and related productsgross profit margin growth.

the gross profit margin of automobile products was 23.9%, an increase of 3.3 percentage points year-on-year; while the gross profit margin of mobile phone components and related products was only9.5%。

specifically, the gross profit margin of automobiles in the second quarter was 22.4%, up 0.8 percentage points year-on-year, maintaining an advantage among most new energy vehicle companies, but down from 28.1% in the first quarter.down 5.7 percentage points。

the decline in automotive gross profit margin in the second quarter may include the following reasons:

one is that in february this year, byd took the lead in reducing prices and launched a model that was even cheaper than the champion edition.honor editionmodel, takeprice reduction and additional configurationroute, resulting in a drop in the price of byd's bicycles.

the second is fang chengbao, yangwang, tengshi, etc.high-end models, its market share in the sales structure was further squeezed, and the proportion of low-gross-profit-margin models increased, which also led to a decline in gross profit margin.

in addition, gross profit margin is also affectedr&d investmentimpact.

in the first half of the year, byd's r&d investment was 20.2 billion yuan, an increase of 41.6% over the same period last year, creatingall-time high。

so far, byd’s cumulative r&d investment has reached nearly150 billion。

the growth rate of r&d investment is significantly higher than the growth rate of revenue (25.9%) and the growth rate of net profit (23.4%).

in addition, the r&d investment in the first half of the yearexceeding net profit of 6.6 billion yuanthis is unique among its peers.

and among the r&d investment, 19.6 billion yuan isresearch and development expenses, the capitalization rate is only 3%.

it can be seen that byd spent most of its expenses in the research and development stage.

such heavy investment in r&d sends a message to the market: byd is serious about catching up with intelligence.

byd invests heavily in r&d to catch up with smart technology on two fronts

wang chuanfu once said that the first half of the new energy vehicleelectrification, the second half isintelligentintelligence is not just about smart cockpit and smart driving, it also includes the integration of intelligence and electricity.vehicle intelligence, is the correct direction for the intelligent development of new energy vehicles.

president of byd new technology instituteyang dongsheng, recently revealed that he often received calls from chairman wang chuanfu in the middle of the night, and the topics of the conversations mainly revolved aroundintelligentexpand.

byd’s top priority now is intelligence.

in the past, byd did not keep up with the trend of smart driving in the first place.

the core of its technology strategy is to focus more on electric vehicles, where byd has made progress, andelectrificationmarket process.

howeverthe ai ​​wavethe arrival of ai has affected all walks of life, including intelligent driving. this made byd realize that the trend of ai is unstoppable.intelligentit is the key to winning the next competition.

at the beginning of 2023, bydintelligent drivingit was identified as the company's core strategy, and the research and development of high-end intelligent driving was handed over to the new technology institute.

since then, byd has started to catch up with the intelligentization process.independent research and developmentandopen collaborationtwo-way operation.

existself-developedon the one hand, the intelligent driving team of the new technology institute has expanded rapidly, from just over 100 people in 22 years to 100 in the first half of this year.4000, the size of the intelligent driving team has surpassed that of nio, xiaoli, li auto and xiaomi.

at present, byd has developed its own in-vehicle computing platform, built its own supercomputing center, established a perception laboratory, and developed end-to-end large models.

its self-developed high-end intelligent driving assistance system "eye of god", which has been installed in many models such as denza and ocean.

for example, the first batch ofbyd z9gtit is the world's first technology platform that can simultaneously achieve three-motor independent drive and original rear-wheel steering, and can also take into account pure electric and hybrid.

earlier this year, byd released a new strategy for the intelligent development of its new energy vehicles:vehicle intelligence。

through the full-stack self-developed xuanji architecture and the first-of-its-kind xuanji ai big model, the vehicle's electrification architecture is optimized and intelligent functions are integrated.

wang chuanfu said that byd will invest in the field of intelligence in the future.100 billion yuan。

on the other hand, byd also chose tosuppliercollaborate to accelerate the process of intelligent development.

on august 27, byd announced thatequation leopardandhuaweireached a cooperation agreement to jointly developthe world's first hardcore exclusive intelligent driving solution。

according to byd,equation leopard 8equipped with huawei qiankun intelligent driving ads 3.0, it has fully entered the actual vehicle testing stage and is expected to be launched in 2024.listing after the third quarter。

byd has joined hands with huawei, and the two giants of electrification and intelligence have joined forces, which provides a new idea for how to break the current price tug-of-war.

byd alsomomenta, horizon robotics, boschwe have cooperated with multiple domestic and foreign intelligent driving suppliers to install low-, medium- and high-level intelligent driving in more than 40 byd vehicle series.

relying on these "two legs", byd is moving faster and faster in a field where it was not good at in the past, until it is running.

in addition, byd has another important growth point, that isgoing to sea。

executive vice president of bydli keit was revealed that overseas markets will account for a large proportion of global sales, and even nearly half of sales will come from overseas.

in the second quarter of this year, byd's overseas sales reached105,000 vehicles, an increase ofnearly twice; from january to july, byd's exports reached233,000 vehicles, an increase of more than 150% year-on-year.

strong overseas market expansion, covering 91 countries and regions around the world, further boosted byd's sales growth.

due to the slow electrification process of japanese brands, honda and nissan's sales were surpassed by byd in the second quarter.

in the current ranking, the only japanese automaker that surpasses byd is no. 1 with 2.63 million units sold.toyota。

while the us's "big three automakers" are still in the leading position, byd is rapidly catching up with ford, with its year-on-year growth rate having surpassed it by a large margin.

as the leader of domestic new energy vehicles, byd's improved global status means that the automotive industry is transforming towards electrification.this transformation will be led by china, the world's largest electric vehicle market.