Summary by Moomoo AI
BYD Electronics announced its annual results for the year ended December 31, 2023, with sales of approximately RMB1299.57 billion, an increase of 21.24% year-on-year. Gross profit increased by 64.31% to approximately RMB104.34 billion. The owners' profit share of the parent company also increased significantly by 117.56% to approximately RMB40.41 billion. Earnings per share increased year-on-year to RMB1.79 and a final dividend of RMB0.538 per share is proposed. THE COMPANY'S THREE BUSINESS SEGMENTS: CONSUMER ELECTRONICS, NEW SMART PRODUCTS, AND NEW ENERGY CARS ACHIEVED YEAR-ON-YEAR GROWTH, WITH AN INNOVATIVE TOTAL REVENUE SCALE. The Group's business structure was further optimized, capacity utilization continued to increase and profitability improved significantly. The Group expands R&D investments and product layouts in new energy automotive products, AI servers, and more to bring new momentum to business development. In addition, the Group completed the acquisition of premium assets that will rapidly expand its smartphone parts business, improve customer and product structure, and promote industry upgrades.