BYD

1. ^a Production, not sales — the FY2008 annual report discloses output only.
2. ^b Rounded as filed — narrative MD&A figures, rounded to the nearest ~1,000–10,000.
3. ^c Derived from separately disclosed components, not a stated total; FY2017 is a floor.
4. ¹ FY2008 is not comparable to any other year in this column. BYD's FY2008 annual report discloses automobile OUTPUT of approximately 170,000 units and gives no sales-volume figure; the YoY cells either side of it therefore mix production against sales and should not be quoted.
5. ² FY2017 is a lower bound. The FY2017 annual report gives fuel vehicles of 245,000 units (-24.62%) and new energy vehicles of “over 110,000 units”; 355,000 is the sum of the disclosed floor, so true FY2017 sales are 355,000 or higher.
6. ³ FY2005-2007 figures are exact and are materially different from the BYD series circulated by third-party aggregators (which show approx. 11,038 / 63,592 / 101,665 for those years). The aggregator series is China-market registration data for BYD-brand passenger cars; the series above is BYD's own reported company-wide unit sales, including exports and non-passenger models. The two are different metrics, not competing estimates of the same one.
7. ⁴ FY2018-2025 figures are the year-to-date December totals from BYD's monthly production and sales bulletins. BYD states on every such bulletin that these volumes are unaudited, have not been confirmed by its auditors, and may be subject to adjustment and final confirmation. They are not restated in the audited annual report, which discloses no unit-sales total at all.
8. ⁵ BYD ceased production of pure internal-combustion vehicles in March 2022. From FY2023 the total vehicle sales figure equals new energy vehicle sales exactly, because no other category exists.
9. ²⁰⁰⁵ Exact (as filed) — FY2005 Annual Report (MD&A) — 11,059 old models + 4,934 F3
10. ²⁰⁰⁶ Exact (as filed) — FY2006 Annual Report (MD&A) — “55,038 vehicles”, +244%
11. ²⁰⁰⁷ Exact (as filed) — FY2007 Annual Report (MD&A) — F3 84,021 + Flyer 1,921
12. ²⁰⁰⁸ Production, not sales — FY2008 Annual Report — “output … approx. 170,000 units” (PRODUCTION)
13. ²⁰⁰⁹ Rounded (as filed) — FY2009 Annual Report — “approx. 450,000 units”, +approx. 1.7x
14. ²⁰¹⁰ Rounded (as filed) — FY2010 Annual Report — “more than 500,000 units”, +approx. 10%
15. ²⁰¹¹ Rounded (as filed) — FY2011 Annual Report — “437 thousand vehicles”, -13.33%
16. ²⁰¹² Rounded (as filed) — FY2012 Annual Report — “approx. 420,000 automobile and some vehicle components products”
17. ²⁰¹³ Rounded (as filed) — FY2013 Annual Report — “approximately 470 thousand units”, +14.38%
18. ²⁰¹⁴ Rounded (as filed) — FY2014 Annual Report — “about 373 thousand units”, -21.33%
19. ²⁰¹⁵ Rounded (as filed) — FY2015 Annual Report — “approximately 380 thousand units”, +1.23%
20. ²⁰¹⁶ Derived from components — Derived: FY2016 AR fuel approx. 326k (+1.78%) + NEV 96k (+69.85%)
21. ²⁰¹⁷ Derived from components — Derived: FY2017 AR fuel 245,000 (-24.62%) + NEV “over 110,000”
22. ²⁰¹⁸ Exact (as filed) — Dec-2018 Production & Sales Bulletin (SZSE/CNInfo, 7 Jan 2019)
23. ²⁰¹⁹ Exact (as filed) — Dec-2019 Production & Sales Bulletin (SZSE/CNInfo, 8 Jan 2020)
24. ²⁰²⁰ Exact (as filed) — Dec-2021 HKEX bulletin, prior-year comparative column
25. ²⁰²¹ Exact (as filed) — Dec-2021 HKEX Voluntary Announcement (3 Jan 2022)
26. ²⁰²² Exact (as filed) — Dec-2022 HKEX Voluntary Announcement (2 Jan 2023)
27. ²⁰²³ Exact (as filed) — Dec-2023 HKEX Voluntary Announcement (1 Jan 2024)
28. ²⁰²⁴ Exact (as filed) — Dec-2024 HKEX Voluntary Announcement (1 Jan 2025)
29. ²⁰²⁵ Exact (as filed) — Dec-2025 HKEX Voluntary Announcement (1 Jan 2026)

BYD Company Limited, HKEX annual reports (FY2005–FY2017) and December production-and-sales bulletins (FY2018–FY2025)

1. ¹ THE OVERSEAS UNIT SERIES IS NOT ONE SERIES. BYD's monthly bulletins changed the defined term twice inside 2025 alone. Jul-2022 to Feb-2025 the note reads “oversea sales volume of New Energy PASSENGER Vehicle”. Mar-2025 to Jun-2025 it reads “oversea sales volume of New Energy Vehicle” (commercial vehicles now included). Jul-2025 onward it reads “EXPORT volume of New Energy Vehicle”. The FY2025 total of 1,046,083 is therefore 133,361 on the passenger-only basis + 330,905 on the all-NEV overseas-sales basis + 581,817 on the export basis.
2. ² “Overseas sales” and “exports” are not the same quantity, and the gap is widening. Exports count units shipped out of China; overseas sales count units sold outside China however they were built. BYD's Rayong (Thailand) plant began output in July 2024 and its Camacari (Brazil) plant in 2025, so locally built, locally sold units are inside the earlier definition and outside the later one. The reported +145% FY2025 overseas growth is measured across that definitional change and overstates the like-for-like rate by an unquantifiable amount.
3. ³ FY2022 overseas of 50,021 covers only July-December. BYD did not disclose a monthly overseas figure before the July 2022 bulletin, and no bulletin has ever disclosed a year-to-date overseas cumulative. Every annual overseas figure in Block A was built here by summing the twelve (or six) monthly disclosures. That reconstruction reproduces BYD's own publicly quoted annual totals exactly for FY2023 (242,765), FY2024 (417,204) and FY2025 (1,046,083), which is what validates the method.
4. ⁴ The implied China residual line is arithmetic, not disclosure. It also mixes bases from FY2025 (a company-wide total less an export figure), so it is a rough control total only.
5. ^· Overseas / export unit sales (as disclosed) — Sum of BYD monthly bulletins. See notes 1-3: perimeter is NOT constant.
6. ^· Implied China / domestic residual — Calculated: total sales less disclosed overseas. Not a BYD disclosure.
7. ^· Overseas as % of total sales — Formula: Block A row 1 / Summary total.

BYD Company Limited, HKEX filings and monthly bulletins

1. ⁵ BLOCK B IS NOT A REGIONAL CAR-SALES PROXY. Group revenue consolidates BYD Electronic (01211's listed subsidiary 00285), which assembles handsets for overseas OEMs. The clearest illustration: overseas revenue tripled from RMB19.5bn in FY2019 to RMB59.1bn in FY2020 while overseas car sales were negligible — that was pandemic face-mask and electronics export revenue, not vehicles. Reading FY2020 overseas revenue share as an overseas vehicle share would be wrong by an order of magnitude.
2. ⁶ FY2021 is disclosed twice on two accounting bases. The FY2021 annual report (HKFRS) shows PRC RMB147,405m / Overseas RMB63,895m / total RMB211,300m. The FY2022 annual report's comparative column (PRC GAAP presentation) shows PRC RMB152,235m / Overseas RMB63,907m / total RMB216,142m. This workbook uses each year's own first-reported figure, so the FY2021 column will not tie to the FY2022 report's comparative.
3. ⁷ Third-party registration data (ACEA for Europe, SMMT for the UK, Fenabrave for Brazil, VFACTS for Australia, LTA for Singapore, FADA for India) can fill the country-level gap, but those are registrations or retail deliveries compiled by industry bodies, not BYD unit disclosures, and they are timing-shifted against wholesale. They are deliberately excluded here to keep every figure in this workbook traceable to a BYD filing. They should never be summed against BYD export units.
4. ^· PRC / China (incl. Hong Kong, Macau, Taiwan) — Label varies by vintage: “PRC”, “China”, with/without HK-Macau-Taiwan.
5. ^· Overseas (single aggregate line, FY2020 on) — From FY2020 BYD collapsed all non-PRC geography into one line.
6. ^· Asia Pacific (excluding PRC) — Appears FY2008, then again FY2017-2019 only.
7. ^· Europe — Disclosed FY2007-08 and FY2012-16; absorbed into Others/Overseas otherwise.
8. ^· United States of America — Labelled “America” in FY2007-08.
9. ^· India — Separately disclosed FY2009-2015 only.
10. ^· Hungary — Separately disclosed FY2009-2011 only.
11. ^· Brazil — Separately disclosed FY2009-2011 only.
12. ^· Others / unallocated — Residual; composition changes with the lines above.
13. ^· TOTAL GROUP REVENUE — Per each year's own annual report segment note.
14. ^· Overseas / non-PRC revenue as % of group — 1 less PRC share of total. Reflects electronics, not cars — see note 5.

BYD Company Limited, HKEX annual reports

1. ¹ Amber italic = rounded or derived (FY2014-2017). Black = exact bulletin figure (FY2018-2025). FY2014's NEV 18,800 / ICE 354,200 are back-solved from the FY2015 annual report's disclosed growth rates (+208.13% NEV, -9.73% ICE) applied to FY2015's rounded figures — they are estimates carrying the rounding error of both inputs.
2. ² FY2017 NEV of 110,000 is a floor (“over 110,000 units”), so the FY2017 total and the FY2017-18 growth rate are both conservative.
3. ³ The FY2018 annual report narrative and the FY2018 bulletin disagree on ICE volume. The annual report says the Group “sold more than 254,000 units of traditional fuel vehicles, +3.7%”; the January 2019 bulletin reports 272,876. The bulletin figure is used here because it is the one that reconciles to the disclosed total of 520,687 and to the disclosed category children. The approx. 19,000-unit gap between BYD's own two disclosures for the same year is unexplained in either document.
4. ⁴ BEV/PHEV mix inverted twice inside this window and the reversals are economically significant: PHEV overtook BEV during FY2018, BEV led again FY2019-FY2021, PHEV led FY2022-FY2024 on DM-i, and FY2025 saw BEV +27.9% against PHEV -7.9% — the first PHEV decline in the series.
5. ⁵ Commercial vehicles are a rounding error on volume but not on direction: NEV commercial rose from 6,115 units in FY2022 to 57,013 in FY2025, driven entirely by “Others” (trucks/vans), while buses fell. Anyone modelling BYD's commercial ramp should note the bus line has been flat-to-down every year since FY2019.
6. ^· FY2005–FY2013 — NO VEHICLE-TYPE SPLIT DISCLOSED
7. ²⁰⁰⁵ Total 15,993 = 11,059 old-model cars (ASP approx. RMB26,139) + 4,934 F3 (ASP approx. RMB64,957). Split is by model, not vehicle type.
8. ²⁰⁰⁶ Total 55,038, of which F3 46,307. No further split.
9. ²⁰⁰⁷ Total 85,942 = F3 84,021 + Flyer 1,921. No further split.
10. ²⁰⁰⁸ Output approx. 170,000, of which F3 approx. 140,000. F3DM (world's first mass-market PHEV) launched 15 Dec 2008 — no units disclosed.
11. ^2009-2011 Totals only (approx. 450,000 / >500,000 / 437,000). NEV referenced qualitatively: FY2012 AR cites >200 K9 electric buses and 800 e6 electric taxis operating in Shenzhen — a fleet-in-service count, not annual sales.
12. ^2012-2013 Totals only (approx. 420,000 / approx. 470,000). FY2012's figure is expressly “automobile and some vehicle components products” — a mixed unit that is not purely vehicles.

BYD Company Limited, HKEX annual reports (FY2014–FY2017) and monthly bulletins (FY2018–FY2025)