比亚迪:H股公告(2025年中期报告)

2025 INTERIMREPORT
中期報告
COMPANY PROFILE
公司簡介
BYD Company Limited (“BYD” or “the Company”, together with its 比亞迪股份有限公司（「比亞迪」或「本公司」，連同其
subsidiaries, “the Group”; stock code: H shares: 01211 (HKD counter); 附屬公司統稱「本集團」或「集團」；股份代號：H股：
81211 (RMB counter); A shares: 002594) is principally engaged in 01211（港幣櫃檯）；81211（人民幣櫃檯）；A股：
automobile business which mainly includes new energy vehicles, 002594）主要從事以新能源汽車為主的汽車業務、手
handset components and assembly services, rechargeable batteries and 機部件及組裝業務，二次充電電池及光伏業務，同
photovoltaics business. Meanwhile, with its technological superiority, the 時利用自身的技術優勢積極拓展城市軌道交通業務
Group actively develops urban rail transportation business segment. 領域。
As a pioneer and leader in the global new energy vehicle industry, relying 作為全球新能源汽車行業先行者和領導者，本集團
on its strong technological accumulation in the key fields of automobile 憑借在汽車電動化及智能化等關鍵領域的雄厚技術
electrification and intelligence, and through continuous technological 積累，通過技術的持續創新，打造出長期、可持續
innovation, the Group has developed its long-term and sustainable 的核心競爭優勢，夯實了本集團於全球新能源汽車
core competitive advantages which solidified the leading position of the 行業的領導地位，加速推動全球汽車產業轉型升級
Group in the global new energy vehicle industry and accelerated the 進程。
transformation and upgrade of the global automobile industry.
BYD is one of the leading rechargeable battery manufacturers in the 本集團為全球領先的二次充電電池製造商之一。消
world. As to the field of consumer batteries, the Group’s li-ion batteries are 費類電池領域，本集團生產的鋰離子電池廣泛應用
widely used in various consumer electronics products and new intelligent 於各類消費類電子產品及新型智能產品領域。動力
products. As to the field of power batteries, the Group has developed 電池領域，本集團開發了高度安全的磷酸鐵鋰電池–
“Blade Batteries”, the highly safe LFP batteries, to better meet the urgent 「刀片電池」，更好地解決市場安全痛點，加速磷酸
demand of safety in the market, and to speed up the pace of LFP batteries 鐵鋰電池重回動力電池主流賽道，助力全球新能源
returning to the mainstream market of power batteries, thereby boosting 汽車產業行穩致遠。儲能電池領域，本集團在電源
the steady and long-term development of the global new energy vehicle 側儲能、電網儲能、工商業儲能、家庭儲能等應用
industry. As to the field of energy storage batteries, the Group focuses 領域發力，為客戶提供更加清潔可持續的儲能解決
on applications such as power-side energy storage, power grid energy 方案。
storage, industrial and commercial energy storage and household energy
storage to provide cleaner and more sustainable energy storage solutions
to customers.
As an important move of the Group in the field of clean energy, the 光伏業務作為本集團在清潔能源領域的重要佈局之
photovoltaics business is devoted to changing the lifestyle of people with 一，致力於用清潔能源改變人類生活方式，以實現
clean energy. With an aim to achieve the sustainable development of clean 能源的可持續發展為目標，擁有硅片、電池片、光
energy, it has a complete industrial chain layout covering silicon wafer, 伏組件、光伏系統應用等全產業鏈佈局。本集團將
solar cells, photovoltaic modules and photovoltaic system application, 繼續積極佈局新技術，推動產品不斷升級。
etc. The Group will continue to proactively develop new technologies to
promote the continuous upgrade of its products.
As a global leading provider of high-tech and innovative products, 作為全球領先的高科技創新產品提供商，本集團業
the Group engages in a wide variety of business covering diversified 務廣泛，涵蓋消費電子、AI數據中心等多元化的市
areas including consumer electronics and AI data centers. With its core 場領域，依託電子信息技術、人工智能技術、5G和
advantages in electronic information, AI, 5G and Internet of Things, thermal 物聯網技術、熱管理技術、新材料技術、精密模具
management, new materials, precision molds and digital manufacturing 技術和數字化製造技術等核心優勢，以及高效規模
technologies, as well as efficient and scalable manufacturing experience 化的生產經驗和豐富的產品組合，為全球客戶提供
and a diverse product portfolio, the Group provides customers around the 一站式產品解決方案。
world with one-stop product solutions.
With its technology and cost advantages in the area of new energy, 憑藉在新能源業務領域建立的技術和成本優勢，本
the Group has successfully developed medium-capacity “SkyRail” and 集團在城市軌道交通領域成功研發出高效率、低成
low-capacity “SkyShuttle” with high efficiency and low cost in the area 本的中運量「雲 軌」和 低運 量「雲巴」產品，配合新能
of urban rail transportation, which, together with new energy vehicles, 源汽車實現對城市公共交通的立體化覆蓋，在幫助
achieves the three-dimensional coverage of urban public transportation, 城市解決交通擁堵和空氣污染的同時，實現本集團
and drives the long-term and sustainable development of the Group while 的長遠及可持續發展。
addressing urban traffic jam and reducing air pollution.

CONTENTS
目錄
2 Corporate Information 公司資料
4 Financial Highlights 財務摘要
5 Management Discussion and Analysis 管理層討論及分析
59 Consolidated Balance Sheet 合併資產負債表
62 Consolidated Income Statement 合併利潤表
65 Consolidated Statement of Changes in Owners’ Equity