
Company Profile H0121181211A002594 BYD Company Limited (“BYD” or the “Company” together with itssubsidiaries, “the Group”; stock code: H shares: 01211 (HKD counter);81211 (RMB counter); A shares: 002594) is principally engaged inautomobile business which mainly includes new energy vehicles,handset components and assembly services, rechargeable batteries andphotovoltaics business. Meanwhile, with its technological advantage, theGroup actively develops urban rail transportation business segment. As a pioneer and leader in the global new energy vehicle industry, relyingon its strong technological accumulation in the fields of power batteries,motors and electronic control, and through continuous technologicalinnovation, the Group has developed its long-term and sustainable corecompetitive advantages which established the leading position of theGroup in the global new energy vehicle industry and accelerated thetransformation and upgrade of the global automobile industry. Dell– BYD is one of the leading rechargeable battery manufacturers in theworld. As to the field of consumer batteries, the Group’s li-ion batteriesare widely used in various consumer electronics products and newintelligent products. Major clients include leading consumer electronicsmanufacturers such as Samsung, Dell and Lenovo. As to the field of powerbatteries, the Group has developed “Blade Batteries”, the highly safe LFPbatteries, to better meet the urgent demand of safety in the market, andto speed up the pace of LFP batteries returning to the mainstream marketof power batteries. As to the field of energy storage batteries, the Groupfocuses on applications such as power grid energy storage, industrialand commercial energy storage and household energy storage to providecleaner and more sustainable energy storage solutions to customers. As an important move of the Group in the field of clean energy, thephotovoltaics business has a complete industrial chain layout coveringsilicon wafer, solar cells, photovoltaic modules and photovoltaic systemapplication, etc. It connects all processes from energy collection, storageto application. The Group will proactively develop new technologies topromote the continuous upgrade of its products. 5GAI3D The Group is a global leading provider of high-tech and innovativeproducts, providing customers around the world with one-stop productsolutions relying on its core advantages in electronic information, AI, 5Gand Internet of Things, thermal management, new materials, precisionmolds and digital manufacturing technologies. The Group engages indiversified market segments, such as smart phones, tablet computers,smart home devices, game hardware, drones, AI servers, 3D printers,Internet of Things, robots, communication equipment and medical andhealth equipment. The competence of the Company in highly verticalintegration enhances its ability to provide customers with a full range ofservices, and quickly and efficiently respond to changing demands. Urban rail transportation business is an important area for the Group’sfuture development. With its technology and cost advantages in the areaof new energy, the Group has successfully developed medium-capacity“SkyRail” and low-capacity “SkyShuttle” with high efficiency and low cost,which, together with new energy vehicles, achieves the three-dimensionalcoverage of urban public transportation, and drives the long-term andsustainable development of the Group while addressing urban traffic jamand reducing air pollution. Contents 2Financial Highlights8Corporate Information10Chairman’s Statement20Management Discussion and Analysis55Directors, Supervisors and Senior Management67Corporate Governance Report88Report of the Directors103Report of the Supervisory Committee105Audit Report115Consolidated Balance Sheet118Consolidated Income Statement120Consolidated Statement of Changes in Owners’ Equity122Consolidated Cash Flow Statement125Company Balance Sheet127Company Income Statement129Company Statement of Changes in Owners’ Equity131Company Cash Flow Statement134Notes to Financial Statements352Five Year Financial Summary Financial Highlights 2 15 410 816 0112 U8U9 DMODMOSUV58SUPER 83583 310 74 1122 310 B Y DATTO 3 Octopus EV5,000 9,99910,000BYD ATTO3 O c t o p u s E l e c t r i cVehiclesOctopus EV35,000 59 1018 1220 426 T5 4S T5DM4.5T5 7.38-8.98305km405kmCLTC 4S4S 512 926 218 14 2023706 30 82 126 1124 62 2023500212 600 2023 5002122022224 1 26Euro NCAP2023Euro NCAP 6005006003 Emerging technologies 5 January 16 August 10 April Launch of Yangwang brand and “e4Platform” technologyThe “Gan Yue Xing He ()” Yangwang brand and technology Launch of BYD’s DiSus system Launch of FANGCHENGBAO brand and DMO technology platformThe FANGCHENGBAO brand and technology launch conference washeld in Shenzhen, officially launching FANGCHENGBAO, a globalprofessional and personalized brand, and its core exclusive technologyDMO, a super hybrid off-r