BYD 2026 Half-Year Report Breaks Through Strongly, Leading the Global New Energy Track

Evening of August 28, 2026, BYD (002594.SZ) unveiled its first-half operating performance report with a splash! Amid fierce competition in the global automotive industry and industry-wide profitability pressure, BYD, still relying on its strong operational resilience and comprehensive strength, walked steadily and firmly, delivering a highly valuable and bright financial report, fully displaying the hardcore confidence of an industry leader and a steady development trend, highlighting the continuous steady development foundation.

From the core operating data, BYD's first-half performance was very bright: achieving 344.8 billion yuan in operating revenue, with net profit attributable to shareholders reaching a high of 12.3 billion yuan. It continuously invested a high amount of 28.9 billion yuan into technical R&D, while holding a sufficient cash reserve of 167.4 billion yuan, solidifying the firm foundation for the company's steady development. Particularly worth noting is that the second quarter performance witnessed a strong breakout, with net profit increasing significantly by 30% year-on-year, and gross margin continuing to climb to 18.9%, successfully reaching a new high in the past year! This set of eye-catching data intuitively verifies that BYD's profitability is continuously improving and upgrading, with the momentum of high-quality development being unstoppable.

With intensifying industry competition and accelerating restructuring of the market landscape, many brands are facing growth bottlenecks. However, relying on a solid and steady operational foundation and continuously optimized business structure, BYD moved upstream against the industry wave. Its overall development momentum in the first half was high and upward, with market competitiveness continuing to soar, and its position as the global new energy vehicle industry leader becoming more and more solid and unshakable.

Overseas High-End Dual-Drive Sprint, Growth Structure Continues to Optimize and Upgrade

Only by pushing forward in two directions can the growth ceiling be broken! In the first half of this year, BYD precisely laid out the two core tracks of internationalization and high-endization. The dual-wheel drive achieved growth acceleration, and the overall growth structure of the enterprise continued to improve and become increasingly healthy.

The overseas market witnessed explosive growth, becoming the core new engine for performance growth! In the first half of the year, BYD's overseas sales volume soared to 790,000 units, skyrocketing by 68% year-on-year, with a very rapid growth momentum. Currently, the brand's business has comprehensively covered more than 120 countries and regions worldwide. Relying on solid product strength, it successfully topped the sales charts of new energy vehicles in several key overseas core markets such as the UK, Brazil, and Thailand, winning the favor of global consumers. With the continued release of overseas local production capacity and the continuous improvement of the global sales channel system, BYD's global layout is gradually entering the harvest period, and its overseas business is continuously injecting powerful momentum into the overall performance growth of the enterprise.

The high-end layout has also been bountiful, with brand value and product premium capability continuously leaping upward! In the first half of the year, Fang Cheng Bao, Denza, and Yangwang, the three high-end brands, worked together to break through, with cumulative sales breaking 228,000 units, increasing by 61% year-on-year. Their proportion in total sales steadily rose to 12.6%, marking significant results in BYD's structural high-end transformation.

Among them, the new high-end brand Fang Cheng Bao performed particularly stunning, with first-half sales strength breaking through 160,000 units, skyrocketing by 163% year-on-year, achieving leapfrogging growth; Denza brand steadily deep-dived into the high-end market, achieving double harvest in reputation and sales, with June sales breaking the 20,000 unit milestone for the first time, and an average product price of up to 360,000 yuan, firmly standing in the mid-to-high-end new energy market; Yangwang created an industry miracle, becoming the benchmark brand that was the fastest to break the 10,000 units in domestic million-level luxury new energy vehicles, thoroughly breaking the monopoly pattern of overseas luxury brands, showcasing the top-tier strength of Chinese Smart Manufacturing.

The dual-line strategy of international expansion and high-end quality improvement allowed BYD's product structure to continuously iterate and optimize, with core profitability steadily climbing. Net profit and gross margin in the second quarter both went up, creating phased achievements. The slight fluctuation in overall net profit in the first half was mainly due to short-term exchange losses caused by market exchange rate fluctuations. Excluding the impact of these external factors, BYD's main business profitability trend was stable and favorable, and the enterprise's super development resilience in crossing industry cycles was fully revealed.

Billions in R&D Build Technical Barriers, Hardcore Tech Results Land Densely

Continuous technological innovation is the core secret of BYD's long-term leading of the industry and the core driving force for the enterprise's high-quality development! For many years, BYD has always persisted in heavy R&D and strong innovation, deeply digging core technologies with ultra-high investment, building a deep industry moat. In the first half of 2026, enterprise R&D investment reached a high of 28.9 billion yuan, with investment scale far exceeding net profit for the same period, continuously retaining the heavyweight honor of A-share "King of R&D". To date, BYD's cumulative R&D investment has exceeded 270 billion yuan. The massive scientific research investment provides relentless hard support for technology iteration and product upgrades.

Heavy investment must have high returns! BYD, which has continuously deep-dived into R&D, is now entering a concentrated explosion period for technological results, with a series of disruptive technologies landing in mass production, thoroughly solving industry pain points. In March this year, the second-generation Blade Battery and Flash Charge Technology were officially released, which refreshed the record for the fastest charging speed of global mass-produced vehicles in one go, successfully solving the global industry problems of "slow charging" and "difficult charging in low temperatures". Relying on solid technical strength, it gained authoritative recognition from the Ministry of Industry and Information Technology (MIIT), bringing users an ultimate convenient car experience.

Technology landing and ecosystem layout are accelerating in sync! Currently, second-generation Blade Battery capacity continues to ramp up and expand, and national Flash Charge station construction is in full swing. Relying on the "Flash Charge China" strategy, BYD has already built 10,000 Flash Charge stations nationwide, comprehensively covering 332 cities, perfectly constructing an all-domain fast charging network. Not only is it deeply digging the domestic market, the brand is also accelerating the global energy ecosystem layout, planning to deploy 6,000 Flash Charge stations overseas within one year, using Chinese technology to boost global new energy vehicle electrification leapfrogging development, and promoting a global green mobility revolution.

The intelligent track has also frequently reported good news, continuously leading the industry! After realizing intelligent parking safety backup, BYD was the first to officially announce in May this year that it had completed city navigation safety backup, becoming the only enterprise in the world to achieve intelligent driving "dual safety backup". With extremely strict safety standards, it promotes the universal popularization of intelligent assisted driving technology, escorting the safety of users' travel.

Data witnesses hardcore strength! As of July 31, the number of BYD intelligent assisted driving vehicles in possession has broken 3.52 million units, with the daily cumulative driving data of its SkyEye intelligent driving system exceeding 220 million kilometers. Massive real road condition data continues to feed back and iterate technology. Meanwhile, the brand's heavy-release Xuanji A3 Chip is the first domestically self-developed 4nm process intelligent driving chip. From the underlying core chip to the complete system software, BYD has achieved full-stack self-development and vertical integration, continuously leading the wave of global automotive industry intelligence and digitalization revolution.

Uphold Original Intention to Practice Responsibility, Interpreting Corporate Social Responsibility with Hard Work

Leading with strength, yet holding warm responsibility! While developing rapidly and digging deep into innovation, BYD always remembers corporate social responsibility, practicing the green development concept with practical actions, showcasing the responsibility and layout of a national enterprise.

Tax and financial contributions demonstrate corporate responsibility. In the first half of 2026, BYD's domestic tax total reached a high of 22.3 billion yuan, a value far exceeding net profit for the same period, injecting strong momentum into social economic development. In the field of green low-carbon development, BYD is more unswervingly anchored to the long-term goal of "achieving full value chain carbon neutrality by 2045", with its ESG comprehensive performance stably in the top tier of domestic enterprises, continuously empowering global dual carbon causes.

Green results are visible and tangible! From January to June this year, BYD new energy vehicles' full lifecycle carbon emission reduction reached a high of 23.17 million tons, with equivalent tree planting volume reaching 386 million trees. With substantial green results, it helps global industry low-carbon transformation and contributes Chinese enterprise strength to ecological environment protection.

Future Looks Promising! Full-Year Performance Climbs Quarter by Quarter, Leading Global Industry Revolution

Looking back at the first half of 2026, the global automotive industry structure underwent deep restructuring, and overall industry operating pressure was highlighted. Facing a complex and changing market environment, BYD broke through against the trend, overcoming difficulties, relying on precise strategic layout, hardcore technical strength, and perfect industrial layout, to achieve a strong turnaround in second quarter performance and reach a new level, delivering an operating report that exceeded expectations.

Outlook for the second half, BYD's growth momentum continues to accumulate, with strong potential! With frontier technology results continuously landing in mass production, high-end model market share steadily rising, and global layout comprehensively entering the harvest period, the enterprise's core profitability and long-term development potential will be further released, with full-year performance expected to continue climbing quarter by quarter and rising steadily.

From breaking technical barriers with billions in R&D to setting sail for globalization; from the high-end product matrix comprehensively breaking through to personally practicing social responsibility, BYD is reconstructing industry growth logic with all-round, multi-level core competitiveness, continuously leading the global new energy track, and leading a brand-new revolution in the global automotive industry! In the future, this national car enterprise will definitely continue to break through and create better results!