A Comparative Study on the Financial Performance of China's New Energy Vehicles: Taking BYD, SAIC Group and Li Auto as Examples

Bingyao Li

doi:10.54097/0qbn9765

Authors

Bingyao Li Wenzhou Kean University, Wenzhou, Zhejiang Province, China

DOI:

https://doi.org/10.54097/0qbn9765

Keywords:

New Energy Vehicles, Financial Performance, BYD, SAIC Motor, Li Auto.

Abstract

With the rapid development of the new energy vehicle industry, China has achieved significant market scale in this sector and has seen the emergence of representative companies. This study takes BYD, SAIC Group and Li Auto as examples to compare the differences in their financial performance from 2020 to 2024. The research results show that BYD has strong profitability and an improved asset utilization efficiency, but it is under liquidity pressure. The profitability of SAIC Group is showing a downward trend. Although the liquidity is stable, the financial risk is relatively high. However, Li Auto achieved a turnaround from losses to profits by relying on sales growth and reasonable leverage. The analysis of research and development intensity reflects the decisive role of innovation investment in financial performance. The significance of this research lies in analyzing and presenting the differences in financial performance among private leading enterprises, state-owned enterprises undergoing transformation, and new development forces, providing references for investors and policy makers.

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