According to pre-disclosed materials, BYD's strategic goal is to become the world's leading provider of new energy solutions. For this reason, BYD continues to enhance its core competitiveness in the three business segments of battery, IT and automotive, and finally achieves three The large business segment is expanding in depth into the new energy sector.
According to Gaogong LED reporters from multiple sources, if the CSRC approves smoothly, BYD will prepare for listing in the next two months or so, and the approval period is valid for 6 months. In other words, if the approval is passed, BYD will be listed on the A-share this year.
The road to BYD's return to A shares is quite tortuous.
In 2008, BYD had plans to return to A-shares and eventually aborted due to poor market performance. In July 2009, BYD announced that the board of directors passed the return to A-shares, and the relevant materials were subsequently reported to the China Securities Regulatory Commission for approval; 2010 7 In the month, BYD once again delayed the A-share issuance plan and extended the validity period of the A-share plan resolution for one year.
It is worth noting that the profitability of BYD's auto business in 2010 was significantly lower than that in 2009, which directly led to the decline in the overall performance of the BYD Group in 2010.
According to BYD's 2010 annual report, BYD's net profit decreased by 33.48% year-on-year; however, its operating income in 2010 increased from 41.114 billion yuan in 2009 to 48.484 billion yuan, an increase of 17.84%. The decrease in net profit in 2010 was mainly attributable to the decline in gross profit margin of automobile business and the increase in sales expenses. The gross profit margin of the automotive business decreased from 25.09% in 2009 to 20.91% in 2010, while the sales expenses increased by 688 million yuan in the same period, an increase of 46.25%.
A series of problems such as the decline in car sales have increased the pressure on BYD. In 2011, BYD's new models will be listed, and the demand for capital investment in new energy research and development is also growing. BYD really needs to return to A shares to achieve financing and ensure the normal development of new energy business.
However, in 2010, among the more than 100 capital markets in the world, the A-share market saw the most declines throughout the year. Some insiders analyzed that BYD, which suffered from shrinking sales and the new energy business is in the cultivation stage, will not have a good premium even if it can return to A.
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