BYD's revenues fell by 8% after the first quarterly profit decline in the last three years, despite robust external sales.

BYD reported a 30% decrease in net profit in the April-June 2025 quarter, reaching 6.36 billion yuan. Price reductions affected the operating margin, and the company attributed the profit decline to harmful industry practices. Although external revenues increased by 50%, research and development expenses rose by over 50%, indicating a focus on innovation. Analysts estimate a possible recovery of the profit margin, but below the level of 2024, with annual sales of approximately 5.1 million vehicles for 2025.