On July 7, BYD (002594) released the latest investor survey interview records, disclosed the company's operating situation in 2015, how to treat the energy density of lithium iron phosphate battery and ternary lithium battery, the competitive advantage of new energy vehicles, how to establish their own For brands and other situations, the following is a detailed record:
Question 1: A brief introduction to BYD's annual operating situation in 2015?
A: In terms of H-share earnings, the company's total revenue in 2015 was approximately RMB77.6 billion, a year-on-year increase of 40%, mainly driven by the significant growth in sales of new energy vehicles and the growth of mobile phone components and assembly business. Net profit for 2015 was 2.82 billion yuan, a year-on-year increase of 5.5 times. In the income structure, about 50% comes from automobile revenue, 43% comes from mobile phone parts business, and 7% comes from secondary rechargeable batteries and photovoltaic business. Among them, the revenue of new energy vehicles in the automotive business accounted for 50% of the automotive business, and about a quarter of the revenue of the entire group came from new energy vehicles. In the future, as the new energy vehicle business continues to grow, its share of the company's revenue will further increase and will become the company's core source of income in the future.
Question 2: How do you view the energy density of lithium iron phosphate batteries and ternary batteries?
Answer: The energy density of the battery is determined by the positive material. The energy density limit of the lithium iron phosphate battery is about 170 wh/kg-175 wh/kg, and the energy density of the ternary battery can reach a higher level. Undoubtedly, the energy density of the ternary battery is higher than that of the lithium iron phosphate battery, but the activity of the ternary battery is high, which is easy to cause thermal runaway, and the battery safety control is very demanding. According to the different characteristics of these two types of batteries, the company will use lithium iron phosphate batteries in models that are not sensitive to the size and weight of the whole vehicle, such as electric buses and commercial vehicles, and are sensitive to the volume and weight of the whole vehicle. Many models such as PHEV will consider using a ternary battery.
Question 3: What are the new energy models launched by the company this year?
A: In the first quarter of this year, the company launched pure electric cars Qin EV and E5 for the market. In the third quarter, the company will launch a new plug-in hybrid SUV model Song and Yuan. At the same time, the company will launch a pure electric version of Song EV and Yuan EV in the future, and plans to launch a new model Ming and Han in 2017-2018.
Question 4: Does the company think that the competitive advantage of BYD's new energy vehicles in the future?
A: We are very confident about the company's position in the new energy vehicle market, and this confidence comes from BYD's own core technology and R&D team. In general, the development cycle of traditional fuel vehicles is 2-3 years, and the development cycle of new energy vehicles is longer. BYD has been in the field of new energy vehicles for nearly 10 years. In 2008, the world's first generation of plug-in hybrid new energy vehicle F3DM was launched for the first time. At present, BYD's Qin and Tang are second-generation technologies. In addition, the pure electric taxi E6 developed by BYD has been running in Shenzhen for 5 years, with a cumulative driving distance of 300 million kilometers and a maximum driving distance of 700,000 kilometers. These big data and experience accumulation can be developed for BYD's new models. Provide foundation and support.
Question 5: How does BYD establish its own brand?
A: It is true that domestic consumers are highly concerned about car brands. The company is also deeply aware of this and has adjusted from many aspects to strengthen brand building. This year, the company established a special brand public relations office and signed a contract with Roland Berger to seek the company's brand building and image upgrade. At the same time, we have also increased the investment in advertising and the title of the program. We believe that in the next 3-5 years, we will have a big leap in brand management and brand image.
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