BYD Global Revenue And Revenue Breakdown By Segment

Lights on highway. Pexels Image.

BYD Company Limited (Build Your Dreams) is a Chinese multinational manufacturing conglomerate headquartered in Shenzhen, Guangdong, China. Founded in February 1995 by Wang Chuanfu, BYD initially started as a battery manufacturer and has since expanded into various industries, including automobiles, electronics, renewable energy, and rail transit.

This article presents BYD’s global revenue and revenue by segment. BYD’s reportable segments consist of two major divisions based on the 2023 annual report, and they are: mobile handset components and automobiles.

For your information, BYD derives its revenue primarily from the sales of automobile products. BYD’s revenue share of automobile products hit the highest level of 80% of the total as of fiscal year 2023.

Let’s dive into the details!

Investors seeking detailed information on BYD’s sales statistics can find valuable insights on the following pages: BYD revenue by country, BYD new energy vehicle sales, and BYD ev and hybrid vehicle sales.

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Definitions

To help readers understand the content better, the following terms and glossaries have been provided.

Automobiles And Related Products, And Others: BYD’s Automobiles and Related Products, and Others segment encompasses the manufacture and sale of automobiles, including internal combustion, hybrid, and battery-electric passenger vehicles.

It also includes buses, coaches, taxis, logistics vehicles, construction vehicles, sanitation vehicles, and vehicles for warehousing, port, airport, and mining operations. Additionally, this segment covers auto-related molds and components, automobile leasing, after-sales services, and automobile power batteries.

Mobile Handset Components, Assembly Service, And Others: BYD’s Mobile Handset Components, Assembly Service, and Other Products segment involves the manufacture and sale of mobile handset components such as housings and electronic components.

Additionally, this segment provides assembly services for these components. Essentially, BYD acts as a one-stop supplier for mobile phone manufacturers, offering product design, manufacturing, testing, assembly, and after-sales services.

Renminbi (RMB): Renminbi or RMB is the official currency of the People’s Republic of China. The primary unit of the renminbi is the yuan (CNY). The symbol for the Chinese Yuan Renminbi (CNY) is ¥.

BYD Company uses the Renminbi (RMB) for its financial transactions and reporting. The current exchange rate for the Chinese Yuan Renminbi (CNY) to the US Dollar (USD) is approximately 7.24 CNY for 1 USD.

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Total Revenue

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BYD uses the Renminbi (RMB), also known as the Yuan (CNY), for its financial transactions and reporting. The exchange rate of the RMB to USD is available here: Renminbi (RMB).

In fiscal year 2023, BYD’s global revenue reached RMB 600 billion (US$ 83 billion), marking a 42% increase from the previous year. In fiscal year 2022, BYD earned RMB 424 billion (US$ 58 billion) in global revenue, while revenue in fiscal year 2021 was RMB 216 billion (US$ 30 billion).

Since fiscal year 2019, BYD’s total revenue has surged by nearly 400%, driven largely by the company’s aggressive global expansion strategy. BYD has been establishing a presence in new markets across Europe, North America, and Latin America.

Moreover, the company has seen a significant increase in sales of its new energy vehicles (NEVs), with over 3 million NEVs sold in 2023, as presented in this article: BYD NEV sales.

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Revenue From Mobile Handset Components And Automobiles Segments

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BYD uses the Renminbi (RMB), also known as the Yuan (CNY), for its financial transactions and reporting. The exchange rate of the RMB to USD is available here: Renminbi (RMB).

BYD’s businesses consist of two major segments: automobiles and mobile handset components. The definitions of BYD’s segments are available here: automobiles and mobile handset components.

BYD’s primary income stream is its automobiles segment, which generated revenue of RMB 483 billion (US$ 66 billion) in fiscal year 2023, a 49% increase from the previous year.

In contrast, BYD’s mobile handset components segment generated only RMB 118 billion (US$ 16 billion) in revenue in fiscal year 2023, roughly a quarter of the revenue produced by the automobiles segment in the same period.

For fiscal year 2022, BYD reported revenue of RMB 324 billion (US$ 45 billion) from the automobiles segment, and RMB 99 billion (US$ 14 billion) from the mobile handset components segment.

Both segments have experienced significant revenue growth since fiscal year 2019. However, the automobiles segment has been the primary driver, with revenue growth reaching 600% over the past four years.

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Revenue From Mobile Handset Components And Automobiles Segments In Percentage

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BYD uses the Renminbi (RMB), also known as the Yuan (CNY), for its financial transactions and reporting. The exchange rate of the RMB to USD is available here: Renminbi (RMB).

BYD’s businesses consist of two major segments: automobiles and mobile handset components. The definitions of BYD’s segments are available here: automobiles and mobile handset components.

BYD’s automobiles segment’s share of total revenue surged from 57% in fiscal year 2019 to a record 80% in fiscal year 2023. Meanwhile, the mobile handset components segment’s revenue share declined from 43% to just 20% over the same period.

This trend highlights the much faster revenue growth in the automobiles division compared to the mobile handset components sector.

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Mobile Handset Components And Automobiles Revenue Growth

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BYD uses the Renminbi (RMB), also known as the Yuan (CNY), for its financial transactions and reporting. The exchange rate of the RMB to USD is available here: Renminbi (RMB).

BYD’s businesses consist of two major segments: automobiles and mobile handset components. The definitions of BYD’s segments are available here: automobiles and mobile handset components.

BYD’s automobiles segment has experienced a much faster revenue growth than the mobile handset components segment, as shown in the graph above.

BYD’s automobiles segment has experienced an average annual revenue growth of 79% since fiscal year 2021, compared to 27% per year for the mobile handset components segment.

For BYD’s global revenue, the average annual growth rate was 60% over the last three years.

In fiscal year 2023, BYD’s automobiles division saw a year-over-year revenue growth of 49%, while the mobile handset components division experienced a 20% increase.

BYD’s total revenue grew 42% year-over-year in fiscal year 2023 versus 96% in the previous year.

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Conclusion

In conclusion, BYD’s automobiles segment has seen much faster revenue growth compared to the mobile handset components segment, with the automobiles segment’s share of total revenue increasing significantly over the past few years.

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References and Credits

1. All financial figures presented in this article were obtained and referenced from BYD’s annual reports published in the Investors Relation Page: BYD Investors Relation.

2. Pexels Images.

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Disclosure

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