In the evening of February 28, BYD released that due to the slowdown in domestic demand for automobiles and other factors, the revenue in 2012 was 46.732 billion yuan, declined 4.29% year on year, and net profit was 81.002 million yuan, down 94.15% year-on-year.
To December 31, 2012, the total asset of BYD was 68.61 billion yuan, an increase of 4.55%, and net asset was 21.196 billion yuan, increased 0.33% compared with the last year.
BYD said that the decline in performance was mainly due to slowdown of the Chinese automotive market demand in 2012, although in the fourth quarter, with the rapid increases in sales of new models, the automotive business quarter revenues increase significantly, the full year is still maintain the steady development compared with the last year. In addition, affected by the decline of the customers’ market share, the operating performance of BYD’s mobile phone parts and assembly operations also declined.
