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BYD profit dropped 28% in 2021, revenue up 38%
source link: https://technode.com/2022/03/30/byd-profit-dropped-28-in-2021-revenue-up-38/
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Posted inNews Feed
BYD profit dropped 28% in 2021, revenue up 38%
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TechNode Feed
Mar 30, 2022Mar 30, 2022
Leading Chinese EV manufacturer BYD released its Q4 and 2021 earnings on Tuesday. Revenue increased 38% from 2020 figures to RMB 216.1 billion ($34 billion) last year. Yet the company saw net profit fall 28% to RMB 3 billion from 2020 to 2021, despite vehicle shipments growing by 73.3% to 740,100 in the same period. Price rises also contributed to the company seeing a further reduction in its net profit figures during the final quarter of 2021, with BYD recording a 52.6% quarterly decrease to RMB 602 million. [Futu, in Chinese]
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