BYD's mixed Q3 2025: profit dips, assets grow

BYD Company Limited's third-quarter 2025 report shows total operating revenue of 194.98 billion yuan for the period, a 3.05% decrease compared to the same period last year. Net profit attributable to shareholders of the listed company fell by 32.60% to 7.82 billion yuan. Diluted earnings per share also decreased by 36.09% to 0.85 yuan per share.

Despite the quarterly profit decline, the company saw substantial growth in its financial position from the beginning of the year. Total assets increased by 15.14% to 901.92 billion yuan as of September 30, 2025, compared to the previous year-end. Total owners' equity attributable to shareholders surged by 32.53% to 245.51 billion yuan, driven by significant increases in capital reserve and share capital due to bonus shares and capitalization of capital reserve.

Noteworthy changes in the balance sheet include a 37.06% increase in financial assets held for trading, mainly due to wealth management business, and a 144.51% increase in construction in progress reflecting higher asset investments. Contract liabilities also rose by 40.29%, primarily from advance receipts in the automobile business. The company also reported a 949.92% increase in net cash flows from financing activities, driven by H shares placement, borrowings, and bond issuance.