To The Moon

$BYD COMPANY(01211)$ is set to release its financial results on August 28. The market expects Q2 revenue of RMB 211.7 billion, representing year‑on‑year growth of approximately 24.3%. Adjusted earnings per share are projected at RMB 0.79, down 24% year‑on‑year.

In terms of valuation, the current P/E ratio stands at 27.67x, which is at a relatively high level over the past three years, yet still below the industry average of 33.67x.

Looking at the revenue structure, BYD's income primarily comes from two segments: automobiles and related products, and mobile handset components and assembly. Automobiles are the main revenue source, accounting for about 84% of total revenue. In terms of sales volume, BYD disclosed that it delivered a cumulative 1.108 million vehicles in Q2 2026, down roughly 3% year‑on‑year, but up sharply by 58.19% quarter‑on‑quarter from the 700,000 units delivered in the first quarter.

BYD's overseas business expansion is a key focus for the market. In the second quarter of 2026, overseas deliveries reached approximately 470,000 vehicles, up 87% year‑on‑year and 46.8% quarter‑on‑quarter, accounting for about 42.4% of total deliveries. In June alone, overseas deliveries of BYD passenger vehicles and pickup trucks were approximately 174,900 units, up 95% year‑on‑year. The share of overseas markets in the Group's total sales continues to rise, and has become a critical driver of performance growth.