BYD’s Profit Collapses 55% as Domestic Sales Slide Eighth Consecutive Month; Robots and Exports Offer New Path

BYD's Hong Kong shares trade near 52-week low after Q1 net profit fell 55% and domestic deliveries slid. Overseas sales surged, new hybrid SUVs launched, and humanoid robots planned to boost growth.

BYD’s Hong Kong-listed shares are trading at 90.70 HKD, scraping the lower end of a 52-week band that stretches from 88.50 to 143.60 HKD. The stock’s proximity to its trough reflects a punishing start to 2026: a 55% dive in first-quarter net profit and an uninterrupted eight-month slide in China deliveries have left investors searching for catalysts. The automaker’s response—a wave of new plug-in hybrids and a surprise foray into humanoid robotics—underscores the urgency of its situation.

Net profit for the three months ended March fell to 4.09 billion CNY from 9.15 billion CNY a year earlier, while revenue contracted nearly 12% to 150.23 billion CNY. The earnings squeeze in BYD’s core electric-vehicle business has been compounded by mounting price competition in China, where rivals Leapmotor and Zeekr both posted record sales in April even as BYD’s home deliveries slipped again.

The company delivered 314,100 new-energy vehicles last month, down 15.7% year-on-year though up 6.2% from March. The domestic weakness, however, was partially offset by a surge in overseas shipments that hit an all-time high of more than 134,000 units—a 70.9% jump from April 2025. Exports now account for 42.8% of monthly sales. In Europe, including the UK and EFTA countries, BYD’s new registrations soared more than 155% in the first quarter, according to the European Automobile Manufacturers’ Association.

To sustain that international momentum and target global deliveries of 5.0 million to 5.5 million vehicles this year—growth of up to 20%—BYD is refreshing its product line at an accelerated pace. On Tuesday the company unveiled the updated Sealion 06 DM-i for 2026, a compact hybrid SUV priced between 129,900 and 159,900 CNY. It uses the fifth generation of BYD’s DM technology, boasts an all-electric range of up to 310 kilometres under the CLTC standard, and consumes just 3.3 litres per 100 kilometres in hybrid mode. Combined, the fuel and battery give a total range of 1,845 kilometres.

A standout feature is the optional DiPilot 300 assistance system, which covers urban autopilot, highway navigation, traffic-light recognition with a real-time countdown and roundabout guidance. BYD’s fleet equipped with driver-assistance technology has swelled to 2.99 million vehicles, generating more than 190 million kilometres of driving data daily.

On May 28, the company will launch the Song Ultra DM-i and simultaneously hold an intelligence strategy conference where further advances in autonomous driving are expected to be detailed. The rapid-fire model rollout is designed to recapture lost ground in a domestic market where BYD has ceded share to aggressive competitors.

Yet the most eye-catching initiative lies outside the automotive arena. BYD has revealed plans to develop seventh-generation humanoid robots under the brand name Yao-Shun-Yu. From May 2026, the robots will first appear in BYD’s own 4S dealerships, greeting customers and providing product advice. A second phase targets the home, with the robots designed to clean, cook and offer companionship. The move mirrors a broader shift in China’s EV industry: XPeng’s CEO He Xiaopeng announced on the same day that his company intends to mass-produce its IRON robot by the end of 2026, with deployment as sales assistants in XPeng stores from the first quarter of 2027. XPeng has earmarked 7 billion CNY for AI research and development this year.

BYD’s robotics pivot comes as the company contends with softening margins in its core business. Last year BYD sold 4.6 million vehicles, ranking sixth globally among automakers, but the scaling challenge is now shifting from volume to profitability. The capital intensity of developing humanoid machines will be closely watched by investors who have already endured a steep markdown in the equity.

On the corporate calendar, BYD has closed its share register for two windows in June: from June 4–9 to determine eligibility for the annual general meeting, and from June 15–18 to establish entitlement to the proposed final dividend of 0.358 CNY per share for fiscal 2025. Shareholders will vote on the dividend at the AGM on June 9, with payment scheduled for August 9. The meeting will also consider appointing Ernst & Young Hua Ming as the sole external and internal auditor for 2026, and approve a guarantee framework of up to 150 billion CNY to support credit for subsidiaries and affiliates.

With the stock languishing near a one-year low and the domestic market still showing no sign of a rebound, the dual bets on advanced hybrids and household robotics represent BYD’s most aggressive hedge yet: a bid to defend its automotive kingdom while planted firmly in a new frontier. Whether the product blitz and the robot gambit can re-energise the share price will become clearer as the company’s second-quarter numbers and the June AGM approach.