File photo/ Zhang Jian (NBD)

BYD on March 28 reported its best performance since going public.

The 2022 annual report of BYD showed that the company achieved total operating revenue of 424.061 billion yuan, an increase of 96.2% year-on-year, and net profit attributable to shareholders of the listed company was 16.622 billion yuan, an increase of 445.86% year-on-year. The gross profit margin increased by 4.02 percentage points from 13.02% in 2021 to 17.04%.

This is also the first time that BYD's annual net profit scale has exceeded 10 billion yuan and exceeded the total of the past five years (about 15.8 billion yuan).

In terms of sales, BYD sold a total of 1.8635 million new energy vehicles in 2022, an increase of 208.64% year-on-year, of which 910,000 were pure electric vehicles, an increase of 184%, and 946,000 were plug-in hybrids, an increase of 247%.

In addition to the sales growth, the scale effect and the continuous release of high-value models have also gradually improved BYD's unit profit.

Benefiting from the substantial growth in sales, BYD surpassed Tesla (1.31 million) in 2022 to become the world's number one in new energy vehicle sales.

While continuing to focus on the domestic market, BYD is also accelerating its overseas market layout, and its new energy passenger vehicles such as Han EV, Tang EV, Yuan PLUS, and Song PLUS DM-i have been sold in 43 countries and regions such as Japan, Germany, Australia, and Brazil.