BYD’s Beijing Blitz: 30,000 Great Tang Orders in 24 Hours as Earnings Loom

BYD unveils a massive product lineup at the Beijing Auto Show, from a $10,000 city car to a 2,977-hp hypercar, but faces a potential 50% profit drop in Q1 earnings on April 28.

The numbers coming out of the Beijing Auto Show are staggering, but the real test for BYD arrives on Tuesday. The Chinese automaker has unleashed a product offensive spanning everything from a $10,000 city car to a 2,977-horsepower hypercar, yet investors are bracing for first-quarter earnings that could show profits nearly halved.

A Record-Breaking Start for the Great Tang

BYD opened pre-orders for its flagship Great Tang SUV at the show, and the response was immediate. More than 30,000 reservations flooded in within the first 24 hours. The seven-seater, priced between 250,000 and 320,000 yuan (roughly $36,200 to $46,400), targets the premium segment with a rear-wheel-drive variant offering up to 950 kilometers of range from a 130-kWh battery pack.

The model is part of a broader push across BYD’s four marques — Dynasty, Denza, Yangwang, and Fangchengbao — that are all on display at the showgrounds, which span a record 380,000 square meters.

From Hypercars to Entry-Level EVs

At the extreme end of the spectrum, Yangwang unveiled the U9 Xtreme, a limited-edition hypercar that cranks motor output from 960 kW to 2,220 kW — equivalent to nearly 2,977 horsepower. The vehicle holds the production-car speed record at 496 km/h, regardless of drivetrain type. Only 30 units will be built, finished in a black-and-gold livery.

On the opposite flank, BYD upgraded its entry-level Seagull, extending range from 405 to 505 kilometers. For the first time, the model offers an optional LiDAR system that activates the “God’s Eye B” driver-assistance suite. The move brings advanced autonomous-driving hardware to the mass market.

The Denza Z, an electric super-sports car with over 1,000 horsepower, is currently undergoing testing at the Nürburgring. Its European launch is set for summer, where it will be positioned directly against the Porsche 911.

The Yuan Plus Gets a Flash-Charge Boost

BYD is also rolling out its flash-charge technology across the lineup. The updated Yuan Plus, which had been losing ground to cheaper domestic rivals, now offers range options of 540 and 630 kilometers. Faster charging and greater range are intended to reverse that market-share erosion.

Earnings Day: The Numbers That Matter

All this product firepower comes against a sobering financial backdrop. On April 28, BYD’s board meets in Shenzhen to review first-quarter results. Analysts expect revenue of around 134 billion yuan — a decline of roughly 21% year-on-year. Earnings per share are forecast at 0.55 yuan, nearly halved from the same period last year.

The comparison is brutal. In the first quarter of 2025, BYD had doubled its net profit. For the full year 2025, the company reported its first annual profit decline since 2021, despite record revenue of 804 billion yuan that allowed BYD to overtake Tesla in global sales.

The fourth quarter of last year already signaled trouble, with profit plunging 38% due to falling vehicle prices and thinning margins in the auto business. The aggressive price war in BYD’s home market continues to squeeze profitability, even as the company has unseated Tesla as the world’s top seller by volume.

Home Market Contradictions

BYD delivered 303,150 vehicles in the most recent reporting period, maintaining its lead in China. But that figure represents a drop of nearly 53% from the prior year — a decline largely explained by a high base effect from early 2025, when sales were exceptionally strong.

The stock market has taken a cautious view. The Hong Kong-listed H-shares trade around 103 HKD, down roughly a quarter over the past year. In New York, BYD’s ADR slipped 1.4% on Friday to $12.96. Despite the recent weakness, the ADR is still up about 16% year-to-date, suggesting investors have priced in the earnings downturn without abandoning the long-term growth narrative.

The Balancing Act

BYD is trying to execute a delicate strategy: maintain aggressive pricing at home to defend market share while expanding into higher-margin markets abroad. Models like the Atto 3 and the Denza luxury brand are spearheading the push into Europe, where margins are fatter.

Tuesday’s earnings will reveal whether the sheer scale of BYD’s volume growth can offset the damage from China’s relentless price war. The product blitz in Beijing shows the company is betting big on technology and range to win the next phase of the EV battle. Whether that bet pays off financially is the question investors are waiting to answer.