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BYD’s 2020 net profit increased by 162% year-on-year, and the e-cigarette business soars

BYD released its 2020 annual report. In 2020, the company achieved operating income of 156.598 billion yuan, a year-on-year increase of 22.59%; net profit attributable to shareholders of listed companies (abbreviated as net profit) was 4.234 billion yuan, a year-on-year increase of 162.27%; attributable to shareholders of listed companies The net profit after deducting non-recurring gains and losses was 2.954 billion yuan, a year-on-year increase of 1181.50%. A cash dividend of RMB 1.48 (tax included) is distributed for every 10 shares. The annual report mentioned that the e-cigarette business will enter a period of volume growing in 2021.

BYD Net Profit 2012-2021
BYD Net Profit 2012-2021

For a long time, BYD has maintained a state of increasing revenue but not profit. From the financial data of 2012 to the present, its operating income has basically maintained growth. In 2020, BYD ended the previous four-year continuous decline in net profit and achieved the second-best net profit performance in history, second only to 5.05 billion in 2016.

BYD is mainly engaged in the automotive business including new energy vehicles and traditional fuel vehicles, mobile phone components and assembly business, secondary rechargeable batteries and photovoltaic business, and is actively expanding the urban rail transit business.

It is worth noting that the 2020 annual report mentions that in 2021, BYD will seize the huge business opportunities in emerging business areas, lay out business areas in multiple dimensions, strive to expand categories, increase R&D investment, product technology upgrades, and strive to expand new customers and continue to improve the market. Share.

In particular, the vapes, drones, smart home and other business sectors will enter a period of volume growing, pushing the group’s business to a high-speed growth track.

BYD’s annual report undoubtedly further confirms the news of the advancing e-cigarette industry chain industry.

The news started with a patent news in January 2021. According to the Qicha APP, BYD disclosed the patent information of “an electronic cigarette” on January 19, the patent publication number is CN212368321U. This patent calculates the current remaining amount of the electronic cigarette based on the smoke concentration or temperature detected by the sensor. The number of puffs be displayed on the display, so that the user of the e-cigarette can know the remaining puffs of the e-cigarette in real time, so that the user has a clear understanding of the expected use of the e-cigarette, and avoids the user’s anxiety, which improves the experience of e-cigarette users.

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