In the first quarter of 2020, the net profit of BYD1.1.300 million yuan fell by over 80% year-on-year.

On April 29th, BYD released a quarterly report. The data shows that BYD's 20 19 revenue was1967.9 billion yuan, down 35.06% year-on-year. The net profit attributable to shareholders of listed companies was1.10.30 billion yuan, down 84.98% year-on-year, and the non-net profit loss was deducted by 47 1 10,000 yuan. BYD said: The decrease in income was mainly caused by the novel coronavirus epidemic and the macroeconomic downturn.

The financial report shows that BYD's net cash inflow from operating activities in the first quarter was 4.949 billion, up113% year-on-year. BYD said that the increase in cash flow was mainly due to the accelerated payment of accounts receivable. BYD spent 756 million yuan on R&D expenses in the first quarter, down 465,438+0.5% year-on-year, mainly due to the decrease of R&D personnel's salary and material consumption in this period.

In terms of market sales performance, BYD's March sales report showed that the cumulative sales volume of automobiles from June 5438 to March was about 6 1300, down 47.89% year-on-year. From June 5438 to March, the cumulative sales volume of new energy vehicles was about 22,200, down 69.67% year-on-year. According to the data of Passenger Car Federation, in the first quarter of 2020, the narrow passenger car retail market was 30 1 10,000 vehicles, down 4 1% year-on-year. Among them, the retail volume in February was only 250,000 vehicles, down 80% year-on-year. Judging from the overall performance of the market, BYD outperformed the market.

BYD is expected to resume growth in the second quarter of this year due to the extension of the implementation period of the national financial subsidy policy for the promotion and application of new energy vehicles to the end of 2022. In the second quarter of 2020, it is expected that the epidemic situation in the domestic market will gradually subside and the automobile industry will recover steadily. Benefiting from the recovery of the industry and the continuous improvement of the Group's brand power, it is expected that the sales volume and revenue of the Group's new energy vehicles will go out of the trough, driving the Group's revenue to achieve recovery growth.

At the same time, the continuous decline in the cost of new energy vehicles will also promote the profitability of the Group. In terms of fuel vehicle business, driven by hot-selling models such as Song pro, it is expected that sales will also achieve good performance. In addition, mask production is expected to contribute to the Group's sales revenue and profit growth.

BYD said that the net profit attributable to shareholders of listed companies in June-June 2020 is expected to be16-1800 million yuan, a year-on-year increase of 10%-23.75%.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.