Lee Yunfay, the head of the public relations department of public relations in social networks, responded to a recent interview with Great Wall Boss Wei Jianzyun. The founder of GWM said “Evergrande in [китайском] The auto industry has already appeared, it just has not exploded yet. ” Many saw a parallel between the BYD concern and the once largest developer of China, who went bankrupt in 2021.
Although Wei Jiangjun did not directly call BYD, the representative of Lee Yunfay immediately wrote on the social networks “This is a lie”. Then the public relations leader by BYD deleted the first post and prepared a more detailed comment. He called the competitor’s statement “malicious slanderous campaign”, and then moved to the numbers.
Now the ratio of BYD assets and obligations is 70%, which indicates a risk zone. However, Li Yunfay recalled that General Motors (76%), Ford (84%), Apple (80%) and Boeing (102%) are even higher coefficients. In China, there are also enough similar “risky” automakers: Geely has 68%, Seres Aito has 76%.
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The BYD representative also commented on a total debt of 580 billion yuan ($ 81 billion). Lee Yunfay recalled that the Toyota debt is 2.7 trillion yuan, Volkswagen has 3.4 trilliaon yuan, and Ford has 1.7 trillion yuan. Chinese brands are not all smooth either: Geely owes 505 billion yuan, and SAIC – 610 billion yuan.
BYD also has low payables: the auto giant owes 31%of the operating revenue, which is lower than the Geely (32%), SAIC (38%), Great Wall (39%). On average, BYD suppliers are calculated in 127 days, which is identical to Geely and faster than similar Great Wall operations (163 days) and SAIC (164 days).
The BYD representative recalled that in 2024 the concern’s net profit amounted to 40.3 billion yuan ($ 5.6 billion), and investments in R&D amount to 54.2 billion yuan ($ 7.5 billion). These are the best BYD operating indicators in 30 years. According to Lee Yunfay, the general financial condition of Chinese auto giants is better than that of foreign colleagues, and comparisons with Evergrande are not appropriate and undermine the Chinese vehicle sector on new energy sources.
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