BYD H1 Revenue Down 7% to 344.8B, Net Profit 12.3B, Gross Margin Up to 18.85% | Earnings Report

BYD's H1 2026 revenue reached 344.8 billion yuan, with net profit of 12.3 billion yuan, down 7.1% and 20.5% year-on-year respectively, mainly dragged by the auto business. However, the structure improved notably: gross margin rose against the trend to 18.85%, overseas business became a core growth driver with 792,000 units exported, and overseas revenue accounted for over half of the total. Premium brand sales grew 61%, R&D investment reached 28.9 billion yuan, while cash flow and cash reserves remained strong.