BYD 2025 First Quarter Financial Report

BYD's total assets in the first quarter of 2025 were 840.5 billion yuan, total liabilities were 594.3 billion yuan, and its asset-liability ratio was 70.7%. Its liabilities mainly include short-term loans, long-term loans, notes payable and accounts payable. BYD's total liabilities have exceeded SAIC Group, making it the most indebted automaker.