20.2 billion r&d investment in half a year: byd's secret weapon for rapid development
2024-09-10
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recently, major mainstream listed automakers have successively disclosed their 2024 semi-annual reports. domestic brands have shown strong growth momentum in operating income, and the market share of chinese brands has continued to rise, in sharp contrast to joint venture brands. byd's operating income in the first half of the year was 301.127 billion yuan, a year-on-year increase of 15.76%, surpassing saic group for the first time and ranking first among domestic mainstream automakers. surpassing saic group is not only a milestone in byd's own development, but also an important manifestation of the overall improvement of the strength of domestic brands. at the same time, byd's net profit in the first half of the year reached 13.631 billion yuan, a year-on-year increase of 24.44%.
in terms of sales, according to the latest data from yiche.com, byd's sales in july have jumped to third in the world, second only to toyota and volkswagen; previously, according to marklines data, in the second quarter of this year, byd's sales have surpassed honda to become the world's seventh largest automaker.
many international investment banks are optimistic about byd's development. jpmorgan chase believes that byd's products are gradually being recognized by global consumers, and it is expected that byd's global deliveries will reach an astonishing 6 million vehicles by 2026.
byd's high-speed growth in performance is due to its huge r&d investment. wind data shows that among more than 5,300 a-share listed companies, byd's r&d expenses ranked first, reaching 20.2 billion yuan, a year-on-year increase of 42%, setting a historical high, and 6.6 billion yuan higher than the net profit in the same period. byd has always adhered to the development concept of "technology is king, innovation is the basis". in the first half of the year, byd's r&d investment exceeded tesla (16.1 billion yuan), and was almost equal to the sum of great wall motors (6.38 billion yuan), ideal auto (6.08 billion yuan), geely auto (4.55 billion yuan), and changan automobile (4.61 billion yuan).
among the leading domestic brands, byd's r&d investment in the first half of the year was more than three times that of great wall and more than four times that of geely. some analysts believe that according to the current momentum, byd's r&d investment for the whole year of 2024 is expected to reach 50 billion. in the 14 years from 2011 to now, byd's r&d investment has been higher than its net profit for 13 years, sometimes even several times the net profit in the same period. as of now, byd's cumulative r&d investment has reached nearly 150 billion, with more than 100,000 r&d personnel, making it the automaker with the most r&d personnel in the world. it has applied for more than 48,000 patents and authorized more than 30,000 patents worldwide.
this long-term, high-intensity r&d investment has not only promoted byd's technological progress and product innovation, but also laid a solid foundation for the company's long-term development. it is through continuous and huge r&d investment that byd has been able to build a huge technology fish pond. since the beginning of this year, byd has successively released disruptive technologies such as xuanji architecture, fifth-generation dm technology, and yi sanfang, providing strong support for the rapid growth of sales.
at the same time, it can be seen from the semi-annual report that although the new forces in car manufacturing are not as profitable as traditional car companies, they have performed well in r&d investment. ideal auto's r&d investment increased by 42% year-on-year, which is comparable to byd's growth rate, showing the positive attitude of new forces in technological innovation and product development. although the revenue scale is limited, the high proportion of r&d investment helps new forces in car manufacturing maintain competitiveness in the fierce market competition and achieve sustainable development.
chinese automakers are increasingly concerned about r&d investment. the r&d investment of most automakers is higher than their net profit in the same period. with the rapid growth of the global new energy vehicle market, chinese automakers are expected to play a more important role on the international stage.
(special planning)
