Company Profile
公司簡介
BYD Company Limited (“BYD” or the “Company” together with its 比亞迪股份有限公司（「比亞迪」或「本公司」，連同subsidiaries “the Group”; stock code: H shares: 01211 (HKD counter); 其附屬公司統稱「本集團」或「集團」；股份代號：H
81211 (RMB counter); A shares: 002594) is principally engaged in 股：01211（港幣櫃台）；81211（人民幣櫃台）；A股：
automobile business which mainly includes new energy vehicles 002594）主要從事以新能源汽車為主的汽車業務、手機
handset components and assembly services rechargeable batteries and 部件及組裝業務，二次充電電池及光伏業務，同時利用photovoltaics business. Meanwhile with its technological advantage the 自身的技術優勢積極拓展城市軌道交通業務領域。
Group actively develops urban rail transportation business segment.As a pioneer and leader in the global new energy vehicle industry relying 作為全球新能源汽車行業先行者和領導者，集團憑藉在on its strong technological accumulation in the fields of power batteries 動力電池、電機、電控等領域的雄厚技術積累，通過技motors and electronic control and through continuous technological 術的持續創新，打造出長期、可持續的核心競爭優勢，innovation the Group has developed its long-term and sustainable core 奠定了本集團於全球新能源汽車行業的領導地位，加速competitive advantages which established the leading position of the 推動全球汽車產業轉型升級進程。
Group in the global new energy vehicle industry and accelerated the
transformation and upgrade of the global automobile industry.BYD is one of the leading rechargeable battery manufacturers in the 本集團為全球領先的二次充電電池製造商之一。消費類world. As to the field of consumer batteries the Group’s li-ion batteries 電池領域，本集團生產的鋰離子電池廣泛應用於各類消are widely used in various consumer electronics products and new 費類電子產品及新型智能產品領域，主要客戶包括三intelligent products. Major clients include leading consumer electronics 星、Dell、聯想等消費類電子產品領導廠商。動力電池manufacturers such as Samsung Dell and Lenovo. As to the field of power 領域，本集團開發了高度安全的磷酸鐵鋰電池 –「 刀片batteries the Group has developed “Blade Batteries” the highly safe LFP 電池」，更好解決市場安全痛點，加速磷酸鐵鋰電池重batteries to better meet the urgent demand of safety in the market and 回動力電池主流賽道。儲能電池領域，本集團在電網儲to speed up the pace of LFP batteries returning to the mainstream market 能、工商業儲能、家庭儲能等應用領域發力，為客戶提of power batteries. As to the field of energy storage batteries the Group 供更加清潔可持續的儲能解決方案。
focuses on applications such as power grid energy storage industrial
and commercial energy storage and household energy storage to provide
cleaner and more sustainable energy storage solutions to customers.As an important move of the Group in the field of clean energy the 光伏業務作為本集團在清潔能源領域的重要佈局之一，photovoltaics business has a complete industrial chain layout covering 擁有矽片、電池片、光伏組件、光伏系統應用等全產業
silicon wafer solar cells photovoltaic modules and photovoltaic system 鏈佈局，打通能源從吸收、存儲到應用的各個環節。本application etc. It connects all processes from energy collection storage 集團將積極佈局新技術，推動產品不斷升級。
to application. The Group will proactively develop new technologies to
promote the continuous upgrade of its products.The Group is a global leading provider of high-tech and innovative 作為全球領先的高科技創新產品提供商，依託電子信products providing customers around the world with one-stop product 息技術、人工智能技術、5G和物聯網技術、熱管理技
solutions relying on its core advantages in electronic information AI 5G 術、新材料技術、精密模具技術和數字化製造技術等核
and Internet of Things thermal management new materials precision 心優勢，為全球客戶提供一站式產品解決方案。產品涵molds and digital manufacturing technologies. The Group engages in 蓋智能手機、平板電腦、智能家居、遊戲硬件、無人
diversified market segments such as smart phones tablet computers 機、AI服務器、3D打印機、物聯網、機器人、通信設
smart home devices game hardware drones AI servers 3D printers 備、醫療健康設備等多元化的市場領域，公司的高度垂Internet of Things robots communication equipment and medical and 直整合能力使得公司可以為客戶提供全面的服務，更快health equipment. The competence of the Company in highly vertical 和更有效率地回應市場不斷變化的需求。
integration enhances its ability to provide customers with a full range of
services and quickly and efficiently respond to changing demands.Urban rail transportation business is an important area for the Group’s 城市軌道交通業務是本集團未來發展的戰略方向之一。
future development. With its technology and cost advantages in the area 憑藉在新能源業務領域業已建立的技術和成本優勢，of new energy the Group has successfully developed medium-capacity 集團成功研發出高效率、低成本的中運量「雲軌」和低運
“SkyRail” and low-capacity “SkyShuttle” with high efficiency and low cost 量「雲巴」產品，配合新能源汽車實現對城市公共交通的which together with new energy vehicles achieves the three-dimensional 立體化覆蓋，在幫助城市解決交通擁堵和空氣污染的同coverage of urban public transportation and drives the long-term and 時，實現集團的長遠及可持續發展。
sustainable development of the Group while addressing urban traffic jam
and reducing air pollution.Contents目錄
2 Financial Highlights 財務摘要
8 Corporate Information 公司資料
10 Chairman’s Statement 主席報告書
20 Management Discussion and Analysis 管理層討論與分析
55 Directors Supervisors and Senior Management 董事、監事及高級管理層
67 Corporate Governance Report 企業管治報告
88 Report of the Directors 董事會報告
103 Report of the Supervisory Committee 監事會報告
105 Audit Report 審計報告
115 Consolidated Balance Sheet 合併資產負債表
118 Consolidated Income Statement 合併利潤表
120 Consolidated Statement of Changes in Owners’ Equity 合併股東權益變動表
122 Consolidated Cash Flow Statement 合併現金流量表
125 Company Balance Sheet 公司資產負債表
127 Company Income Statement 公司利潤表
129 Company Statement of Changes in Owners’ Equity 公司股東權益變動表
131 Company Cash Flow Statement 公司現金流量表
134 Notes to Financial Statements 財務報表附註
352 Five Year Financial Summary 五年財務摘要2 BYD Company Limited Annual Report 2023比亞迪股份有限公司 二零二三年年報 4
Financial Highlights Financial Highlights財務摘要財務摘要
FIVE-YEAR COMPARISON OF KEY FINANCIAL FIGURES 五年主要財務數據之比較 REVENUE BREAKDOWN BY PRODUCT CATEGORIES 按產品類別劃分的營業額
For the year ended 31 December
Mobile handset components assembly service and 19.68% 23.30%截至十二月三十一日止年度 other products
手機部件、組裝及其他產品
20232022202120202019
二零二三年 二零二二年 二零二一年 二零二零年 二零一九年 Automobiles and related products and other products 2023 2022
RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 汽車、汽車相關產品及其他產品人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元
80.27%76.57%
Revenue 營業額 602315354 424060635 216142395 156597691 127738523
Gross profit 毛利 121757004 72244955 28144706 30346311 20814235
Gross profit margin (%) 毛利率(%) 20 17 13 19 16 2023 2022
Profit attributable to owners 母公司擁有人 二零二三年 二零二二年
of the parent 應佔溢利 30040811 16622448 3045188 4234267 1614450
Net profit margin (%) 淨利潤率(%) 5.0 3.9 1.4 2.7 1.3 REVENUE BREAKDOWN BY LOCATIONS OF 按客戶所在地劃分的營業額
CUSTOMERS
As at 31 December
於十二月三十一日26.60%21.57%
73.40%78.43%
20232022202120202019
二零二三年 PRC (including Hong Kong Macau and Taiwan)二零二二年 二零二一年 二零二零年 二零一九年
中國(包括港澳台地區)
RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 2023 2022人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元
Overseas境外
Net assets (less non- 淨資產值
controlling interests) （扣除非控股權益） 138810065 111029299 95069671 56874274 56762289
Total assets 資產總值 679547670 493860646 295780147 201017321 195641593
Gearing ratio (%) (Note1) 資本負債比率(%)
20232022（附註1）-44-26-1569124二零二三年二零二二年
Current ratio (times) 流動比率（倍） 0.67 0.72 0.97 1.05 0.99
Receivables turnover 應收類款項週轉天數
(days) (Note2) （日（）附註2） 43 53 95 135 175
Inventory turnover (days) 存貨週轉天數（日） 64 64 73 83 89
Note1: Gearing ratio = Total borrowings net of cash and cash equivalents/ 附註1： 資本負債比率=總借貸扣除現金及現金等價值
net assets (less minority interests) 物╱淨資產值（扣除少數股東權益）
Note2: Receivables include trade receivables contract assets and 附註2： 應收類款項包含應收賬款、合同資產、應收款
receivables financing. 項融資。黑科技 新車上市拓新界，全新品牌再升級，爆款黑科技加持，賦能黑馬級產品。
1月5日4月10日8月16日
仰望品牌暨「易四方」技術發佈 比亞迪雲輦系統發佈 方程豹品牌及DMO技術平台發佈
「敢越星河」仰望品牌暨技術發佈會在深圳召開，正式發佈了全新高端比亞迪發佈雲輦智能車身控制系統。作為行業首個新能源方程豹品牌暨技術發佈會在深圳召開，正式發佈了全球專業個性化品牌汽車品牌「仰望」及其核心技術「易四方」。搭載易四方的首款硬派越野 專屬的智能車身控制系統，雲輦系統填補了國內的技術空 方程豹及其核心專屬技術DMO超級混動越野平台。首搭DMO的超級混U8、首款純電動性能超跑U9亮相。易四方顛覆性的四電機技術，打 白，實現「從0到1」的突破，並超越行業先進水平，實現「從 動硬派SUV豹5也正式發佈，同時，豹8概念車「SUPER 8」以及豹3共同破傳統汽車的想象空間，創造全新的汽車安全技術體系。1到2」的提升。構成的「583」硬派家族同步驚艷亮相。
新藍海巨輪劈波斬浪，實力積厚成勢，走出去更見海闊天空，共赴新能源汽車市場新藍海。
3月10日3月10日7月4日11月22日
比亞迪泰國乘用車生產基地奠基，B Y D 比亞迪與英國Octopus EV簽署5000台電動 比亞迪宣佈在巴西打造大型生產基地綜合體， 比亞迪漢在阿聯酋上市，迪拜迎來全新旗ATTO 3當地交付破萬 車採購協議 將投建三座全新工廠 艦展廳
比亞迪在泰國舉行首家海外乘用車生產基地奠基儀 比亞迪與英國電動汽車公司Octopus E lect r ic 比亞迪與巴西巴伊亞州政府共同宣佈，雙方將在卡馬 比亞迪迎來在阿聯酋迪拜全新旗艦展廳的盛大開式，同時舉行了第9999輛以及10000輛BYD ATTO Vehicles達成合作，Octopus EV未來3年內將向比 薩里市設立由三座工廠組成的大型生產基地綜合體， 幕，並正式推出純電車型漢，開啓比亞迪阿聯酋
3的交付儀式。這標誌着比亞迪在海外進一步擴展亞迪購買5000輛電動車用於服務英國市場，雙方分別為電動客車和卡車底盤的生產工廠、新能源乘用新能源乘用車市場的全新格局。展廳的落成為比佈局，也是比亞迪在亞太市場深耕細作的進一步體攜手共促英國綠色交通建設。車整車生產工廠以及磷酸鐵鋰電池材料的加工工廠，亞迪在阿聯酋乘用車市場的品牌推廣、產品銷售現。此舉將進一步推動比亞迪的全球化進程。和戰略發展注入新動力。
綠色行從汽車到雲巴，從乘用車到商用車，綠色產品持續煥新，助力綠色出行新時代。
4月26日5月9日10月18日12月20日
「新一代主流代步車」海鷗上市 湖南湘江新區大王山歡樂雲巴線開通 比亞迪首款混動輕卡T5發佈 首家比亞迪對公4S店盛大開業
「新一代主流代步車」比亞迪海鷗正式上市，售價區 湖南湘江新區大王山歡樂雲巴通車儀式在湖南湘江 「強大基因 輕卡新紀元—比亞迪混動輕卡T5新品發佈 全國首家比亞迪對公4S店在西安市盛大開業。比間為7.38萬元-8.98萬元。海鷗是比亞迪新一代技 新區大王山雲巴站舉行，標誌着大王山歡樂雲巴 暨智慧工廠體驗日」在江蘇省淮安市舉辦。比亞迪首 亞迪對公4S店的業務範圍涵蓋國內網約車、出租術向廣域市場的全新車型，擁有305km和405km兩 正式開通。大王山歡樂雲巴作為全球首條旅遊雲巴 款搭載DM技術的4.5噸級城市物流輕卡T5與全新淮安 車、駕考車、政企採購、城市物流、分時租賃、種續航里程（CLTC綜合工況）。海鷗憑藉全維全優 線，是推進旅遊產業交通現代化發展的重要範例， 卡車智慧工廠一同亮相。比亞迪商用車為交通運輸發 普通租賃等多種業務場景，為綠色出行提供車型的高能品質和精品屬性，刷新了傳統小車價值標代表了比亞迪對旅遊產業交通智能化、綠色化和融展貢獻綠色方案。定義、車輛銷售、金融服務、運營賦能、售後專桿。合化發展的實踐。修等一站式解決方案。
發展紅紅紅火火建設忙，生產車間機器鳴，奏響高質量發展新樂章；紅彤彤的簽約本見證產業深化合作，「朋友圈」再迎新夥伴。
1月4日2月18日5月12日9月26日
比亞迪新能源動力電池徐州生產基地奠基比亞迪新能源汽車核心零部件產業園項目落濰柴動力與比亞迪戰略合作簽約比亞迪電子與捷普簽署股權收購協議
江蘇省徐州市委、市政府舉行2023年全市重大產戶常州濰柴動力與比亞迪在深圳簽署戰略合作協議。雙方擬比亞迪股份控股子公司比亞迪電子與捷普簽署了業項目集中開工暨比亞迪新能源動力電池徐州生產比亞迪新能源汽車核心零部件產業園項目落戶於江利用各自優勢在新能源領域建立更加全面的、深度的《股權收購協議》，收購捷普旗下生產消費電子產基地奠基活動。項目位於徐州經濟技術開發區，其蘇常州濱江經濟開發區。項目建成達產後將年產戰略合作關係，在山東合資生產動力電池，建設動力品零部件的移動電子製造業務。本次收購將拓展中一期用地約706畝，包括潔淨、組裝、配料、無30萬套智慧動力總成、傳動系統等核心零部件，電池研發製造基地，持續強化新能源產業鏈、創新比亞迪電子客戶與產品邊界，拓寬智能手機零部塵、恒溫、乾燥等車間，建設刀片電池生產線。進一步助力常州「新能源之都」建設。鏈、價值鏈，為推動我國新能源商用車產業化發展作件業務，增加核心器件產品的戰略性佈局，助推出積極貢獻。比亞迪電子產業升級。
閃耀金奮進的每一秒，高光閃耀，拼搏的所有汗水，終將凝結成「金」。
6月2日8月2日11月24日12月6日
重慶璧山雲巴項目榮獲「中國鋼結構金獎」比亞迪躍居2023年《財富》世界500強第212位全球首家達成600萬輛新能源汽車下線，比亞比亞迪唐、宋、海豹、海豚獲歐洲最高安
2023年全國建築鋼結構行業大會在上海召開，比《財富》世界500強榜單全球發佈，比亞迪位列第212迪再創紀錄全評級
亞迪璧山雲巴項目榮獲第十五屆「中國鋼結構金獎」位，排名較2022年上升224名，成為今年排名升幅最比亞迪第600萬輛新能源汽車在鄭州工廠下線。比亞12月6日，比亞迪唐、宋車型獲得歐洲新車安
（第一批）。該獎項是經國務院批准的建築領域國際 大的中國企業。 迪從「第500萬輛」到「第600萬輛」僅用時3個多月，再 全評鑒協會Euro NCAP五星安全評級（2023年新級優質工程獎，是中國建築鋼結構行業工程質量的創產銷新紀錄。這不僅是比亞迪的又一里程碑，更是規），這是比亞迪繼海豹、海豚之後，又有兩款車最高榮譽。 中國新能源汽車發展的縮影，推動中國新能源汽車行 型獲得Euro NCAP五星安全評級。一年四款車型業進入規模化、全球化的高質量發展階段。獲得此評級在中國汽車行業中尚屬首例，充分展現了比亞迪強大的安全技術實力和卓越的產品安全性能。Emerging technologies The launch of new vehicles opens up new presence with new brands upgraded and popular emerging technologies are a plus to empower hot-selling products.
5 January 10 April 16 August
Launch of Yangwang brand and “e4 Platform” technology Launch of BYD’s DiSus system Launch of FANGCHENGBAO brand and DMO technology platform
The “Gan Yue Xing He (敢越星河)” Yangwang brand and technology BYD launched the DiSus intelligent body control system. The FANGCHENGBAO brand and technology launch conference was
launch conference was held in Shenzhen officially launching a new high- As the industry’s first new energy exclusive intelligent body held in Shenzhen officially launching FANGCHENGBAO a global
end vehicle brand “Yangwang” and its core technology “e4 Platform”. control system the DiSus system has filled the domestic professional and personalized brand and its core exclusive technology
The first hardcore SUV U8 equipped with e4 Platform and the first battery technology gap to achieve a breakthrough “from 0 to 1” DMO a super hybrid off-road platform. BAO 5 a super hybrid hardcore
electric performance supercar U9 were unveiled. e4 Platform’s disruptive and surpassed the industry’s advanced level to achieve an SUV first equipped with DMO was also officially launched. At the
four-motor technology breaks the imagination of traditional vehicles and improvement of “from 1 to 2”. same time the “583” hardcore family composed of BAO 8 concept car
creates a new vehicle safety technology system. “SUPER 8” and BAO 3 made a stunning debut simultaneously.New blue ocean A giant ship has cut through the waves with its strength accumulated into momentum. BYD goes global to witness wider presence and join the blue ocean of new energy vehicle market.
10 March 10 March 4 July 22 November
Ground breaking of BYD’s passenger vehicles production base in Signing of purchase agreement for 5000 electric vehicles between Announcement of BYD to build a large-scale production base complex in Launch of BYD Han in the UAE and Dubai welcoming a new flagship
Thailand with a local delivery of BYD ATTO 3 exceeding 10000 units BYD and British Octopus EV Brazil and invest in the construction of three new factories showroom
BYD held a groundbreaking ceremony for its first BYD reached a cooperation with Octopus Electric BYD and the Government of Bahia State in Brazil jointly BYD celebrated the grand opening of its new flagship
overseas passenger car production base in Thailand Vehicles a British electric vehicle company. Octopus announced that the two parties will set up a large-scale showroom in Dubai the UAE and officially launched the
and also held a delivery ceremony for the 9999th EV will purchase 5000 electric vehicles from BYD in production base complex consisting of three factories in pure electric model Han opening up a new pattern for
and 10000th BYD ATTO 3. This marks BYD’s further the next three years to serve the British market. The two Cama?ari namely electric bus and truck chassis production BYD’s new energy passenger vehicle market in the UAE.expansion overseas and is also a further manifestation parties will work together to promote the construction of factory new energy passenger vehicles production factory and The completion of the showroom has injected new impetus
of BYD’s intensive efforts in the Asia-Pacific market. green transportation in the UK. lithium iron phosphate battery material processing factory. This into BYD’s brand promotion product sales and strategic
move will further promote BYD’s globalization process. development in the UAE passenger vehicles market.Green travel Green products are continually refreshed from vehicles to SkyShuttle and from passenger vehicles to commercial vehicles helping usher in a new era of green travel.
26 April 9 May 18 October 20 December
Launch of the new-generation mainstream vehicle “Sea Gull” Opening of Happy Sky Shuttle line in Dawang Mountain in Xiangjiang New District Hunan Launch of BYD’s first hybrid light truck T5 Grand opening of the first BYD Corporate-specific 4S Store
The new-generation mainstream vehicle “BYD Sea Gull” The opening ceremony of Happy Sky Shuttle in Dawang The “Powerful Genes and New Era of Light Trucks – BYD The country’s first BYD Corporate-specific 4S Store waswas officially launched with a price range of RMB73800 Mountain in Xiangjiang New District Hunan was held at Hybrid Light Truck T5 New Product Launch and Smart opened grandly in Xi’an. The business scope of BYDto RMB89800. Sea Gull is a new model introduced by Dawangshan Yunba Station in Xiangjiang New District Hunan Factory Experience Day” was held in Huai’an City Jiangsu Corporate-specific 4S Store covers domestic online ride-
BYD’s new generation technology to the wide-area market. marking the official opening of the Happy Sky Shuttle in Dawang Province. BYD’s first 4.5-ton urban logistics light truck T5 hailing taxis driving test cars government and enterprise
It has two cruising ranges of 305km and 405km (CLTC Mountain. As the world’s first tourist sky shuttle line the Happy equipped with DM technology was unveiled together with procurement urban logistics time-sharing leasing general
comprehensive test cycle). Sea Gull has refreshed the Sky Shuttle in Dawang Mountain is an important example of the new Huai’an truck smart factory. BYD’s commercial leasing and other business scenarios providing one-stop
value benchmark of traditional small vehicles by virtue of promoting the modernization of transportation in the tourism vehicles have contributed green solutions to transportation solutions for green travel such as vehicle model definition
its high-performance quality and premium attributes with industry and represents BYD’s practice of intelligent green and development. vehicle sales financial services operational empowerment
comprehensive maintenance and excellence. integrated development of transportation in the tourism industry. and after-sales maintenance.Robust development Booming construction and humming machines in the production workshop write a new chapter of high-quality development.
4 January 18 February 12 May 26 September
Ground breaking of BYD’s New Energy Power Battery Xuzhou Settling of BYD’s New Energy Automobile Core Components Industrial Signing of strategic cooperation agreement between Weichai Power and Signing of equity acquisition agreement between BYD Electronic and
Production Base Park project in Changzhou BYD Jabil
The Xuzhou Municipal Party Committee and Municipal BYD’s New Energy Vehic le Core Components Weichai Power and BYD signed a strategic cooperation agreement in BE a subsidiary of BYD signed an equity acquisition
Government of Jiangsu Province held a centralized Industrial Park project was settled in Binjiang Economic Shenzhen. The two parties plan to use their respective advantages to agreement with Jabil to acquire Jabil’s mobility
commencement of the city’s major industrial projects Development Zone Changzhou Jiangsu. The project establish a more comprehensive and in-depth strategic cooperative business that manufactures components for consumer
in 2023 and a groundbreaking event for BYD’s New once completed and reaches production capacity relationship in the field of new energy. Both parties will jointly electronics products. This acquisition will broaden
Energy Power Battery Xuzhou Production Base. The
project is located in Xuzhou Economic and Technological wil l produce 300000 sets of smart powertrains produce power batteries in Shandong build a power battery R&D BE’s customer base and diversify its product portfolio
Development Zone the first phase of which covers about transmission systems and other core components and manufacturing base and continue to enhance the new energy expand the business of smartphone components and
706 acres including cleaning assembly batching dust- annually further supporting the construction of industry chain innovation chain and value chain in order to make enhance the strategic layout of core device products
free constant temperature drying and other workshops to Changzhou as a “new energy capital”. positive contributions to the industrialization development of new thus propelling the industrial upgrading of BE.build a blade battery production line. energy commercial vehicles of the PRC.Dazzling achievements Tremendous achievements shine during every second of progress and all the sweat of endeavour will condense into “gold”.
2 June 2 August 24 November 6 DecemberChongqing Bishan SkyShuttle project winning the “China Steel BYD ranking 212th among Fortune Global 500 companies in 2023 BYD setting another record to become the world’s first company to roll BYD Tang Song Seal and Dolphin receiving the highest safetyStructure Gold Award” out 6 million new energy vehicles rating in Europe
The 2023 National Construction Steel Structure The Fortune Global 500 list was released globally. BYD BYD’s 6 millionth new energy vehicle rolled off the assembly BYD Tang and Song models received a five-star safety
Industry Conference was held in Shanghai. BYD ranked 212th an increase of 224 places from 2022 line at its Zhengzhou factory. It only took BYD more than 3 rating (new regulations for 2023) from the European New
Bishan SkyShuttle project won the 15th “China Steel becoming the Chinese company with the largest increase months to go from the “5 millionth vehicle” to the “6 millionth Car Assessment Programme (Euro NCAP). This is BYD’sStructure Gold Award” (the first batch). This award in ranking this year. vehicle” setting a new production and sales record. This is another two models to receive a five-star safety rating from
is an international high-quality project award in the not only another milestone for BYD but also a microcosm of Euro NCAP after the Seal and Dolphin. It is the first time in
construction field approved by the State Council. the development of new energy vehicles in China pushing China’s automobile industry that four models in one year
It is the highest honor for project quality in China’s China’s new energy vehicle industry into a stage of large- have received this rating which fully demonstrates BYD’s
construction steel structure industry. scale global and high-quality development. strong safety technology strength and excellent product
safety performance.8 BYD Company Limited比亞迪股份有限公司
Corporate Information公司資料
EXECUTIVE DIRECTOR 執行董事
Wang Chuan-fu 王傳福
NON-EXECUTIVE DIRECTORS 非執行董事
Lv Xiang-yang 呂向陽
Xia Zuo-quan 夏佐全
INDEPENDENT NON-EXECUTIVE DIRECTORS 獨立非執行董事
Cai Hong-ping 蔡洪平
Zhang Min 張敏
Yu Ling (appointed on 19 September 2023) 喻玲（於二零二三年九月十九日獲委任）
Jiang Yan-bo (resigned on 19 September 2023) 蔣岩波（自二零二三年九月十九日辭任）
SUPERVISORS 監事
Dong Jun-qing (resigned on 19 September 2023) 董俊卿（自二零二三年九月十九日辭任）
Li Yong-zhao 李永釗
Zhu Ai-yun (appointed on 19 September 2023) 朱愛雲（於二零二三年九月十九日獲委任）
Wang Zhen 王珍
Huang Jiang-feng 黃江鋒
Tang Mei 唐梅
COMPANY SECRETARY 公司秘書
Li Qian 李黔
AUDIT COMMITTEE 審核委員會
Lv Xiang-yang (resigned on 19 September 2023) 呂向陽（自二零二三年九月十九日辭任）
Xia Zuo-quan (appointed on 19 September 2023) 夏佐全（於二零二三年九月十九日獲委任）
Cai Hong-ping 蔡洪平
Zhang Min (Chairman) 張敏（主席）
Yu Ling (appointed on 19 September 2023) 喻玲（於二零二三年九月十九日獲委任）
Jiang Yan-bo (resigned on 19 September 2023) 蔣岩波（自二零二三年九月十九日辭任）
REMUNERATION COMMITTEE 薪酬委員會
Wang Chuan-fu 王傳福
Xia Zuo-quan 夏佐全
Cai Hong-ping (Chairman) 蔡洪平（主席）
Zhang Min 張敏
Yu Ling (appointed on 19 September 2023) 喻玲（於二零二三年九月十九日獲委任）
Jiang Yan-bo (resigned on 19 September 2023) 蔣岩波（自二零二三年九月十九日辭任）
NOMINATION COMMITTEE 提名委員會
Wang Chuan-fu 王傳福
Lv Xiang-yang 呂向陽
Cai Hong-ping 蔡洪平
Zhang Min 張敏
Yu Ling (Chairman) (appointed on 19 September 2023) 喻玲（主席）（於二零二三年九月十九日獲委任）
Jiang Yan-bo (Chairman) (resigned on 19 September 2023) 蔣岩波（主席）（自二零二三年九月十九日辭任）
STRATEGY COMMITTEE 戰略委員會
Wang Chuan-fu (Chairman) 王傳褔（主席）
Lv Xiang-yang 呂向陽
Xia Zuo-quan 夏佐全
Cai Hong-ping 蔡洪平
Zhang Min 張敏Annual Report 2023二零二三年年報9
Corporate Information公司資料
AUTHORISED REPRESENTATIVES 授權代表
Wang Chuan-fu 王傳福
Li Qian 李黔
LEGAL ADDRESS 法定地址
No. 1 Yan’an Road 中國
Kuichong Sub-district 廣東省
Dapeng New District 深圳市
Shenzhen 大鵬新區
Guangdong Province 葵湧街道
The PRC 延安路一號
AUDITORS 核數師
Ernst & Young Hua Ming LLP 安永華明會計師事務所（特殊普通合夥）
PLACE OF BUSINESS IN HONG KONG 香港營業地點
Unit 1712 17th Floor 香港
Tower 2 Grand Central Plaza 新界
No. 138 Shatin Rural Committee Road 沙田鄉事會路138號
New Territories 新城市中央廣場二期
Hong Kong 17樓1712室
HONG KONG SHARE REGISTRAR AND TRANSFER 香港股份過戶登記處
OFFICE
Computershare Hong Kong Investor Services Limited 香港中央證券登記有限公司
Shops 1712–1716 香港
17th Floor 灣仔
Hopewell Centre 皇后大道東183號
183 Queen’s Road East 合和中心
Wanchai 17樓
Hong Kong 1712–1716號鋪
INVESTOR AND MEDIA RELATIONS CONSULTANT 投資者及傳媒關係顧問
iPR Ogilvy Ltd. iPR奧美公關
Tel: (852) 2136 6185 電話：(852) 2136 6185
Fax: (852) 3170 6606 傳真：(852) 3170 6606
Email: byd@iprogilvy.com 電郵：byd@iprogilvy.com
WEBSITE 公司網址
www.bydglobal.com www.bydglobal.com
STOCK CODE 股票代碼
H Shares: 01211 (HKD Counter); 81211 (RMB Counter) H股：01211（港幣櫃台）；81211（人民幣櫃台）
(The Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”)) （香港聯合交易所有限公司（「香港聯交所」））
A Shares: 002594 (Shenzhen Stock Exchange (“SZSE”)) A股：002594（深圳證券交易所（「深交所」））10 BYD Company Limited比亞迪股份有限公司
Chairman’s Statement主席報告書
As a pioneer and leader in the global new energy vehicle industry the Group has steadily promoted the
upgrading of brand power and the strategic layout of going abroad and achieved substantial business
development in the background of increasingly fierce competition in the industry leading China’s new energy
vehicle sales for 11 consecutive years retaining its No. 1 position in the global sales of new energy vehicles and
creating a history for a Chinese automobile enterprise to rank top ten in terms of global sales for the first time.本集團作為全球新能源汽車行業先行者和領導者，穩步推進品牌力提升及出海戰略佈局，在行業競爭日趨激烈的背景下實現業務長足發展，連續十一年穩居中國新能源汽車銷量龍頭地位並蟬聯全球新能源汽車銷量冠軍，並開創中國車企首次躋身全球銷量前十的歷史。
Dear Shareholders 致各位股東：
On behalf of the board (the “Board”) of directors (the “Directors”) of 本人謹代表比亞迪股份有限公司（「比亞迪」或「本公BYD Company Limited (“BYD” or the “Company”) and its subsidiaries 司」）及其附屬公司（統稱「本集團」╱「集團」）董事會向
(collectively referred to as the “Group”) I hereby present the annual 各位股東提呈本集團截至二零二三年十二月三十一
report of the Group for the year ended 31 December 2023 (the “Year” 日止年度（「年內」或「期內」）之年報。
or the “Period”) to you.In 2023 the international geopolitical tensions intensified the 二零二三年，國際地緣政治緊張局勢加劇，通脹高high inflationary environment prevailed the growth of most major 企的大環境持續，多數主要經濟體增長放緩，全球economies slowed down and the complexity severity and uncertainty 經濟發展的複雜性、嚴峻性、不確定性上升。中國of global economic development increased. The unfavourable external 經濟亦受到外部環境影響，總需求不足，消費及投environment also affected China’s economy resulting in insufficient 資預期偏弱，房地產市場低迷，各行各業面臨諸多overall demand weak consumption and investment expectations a 挑戰。為此，中國政府加大宏觀調控力度，着力擴sluggish property market and various challenges faced by industries 大內需、優化結構、提振信心，使中國經濟的「韌and trades. To this end the Chinese government stepped up its 性」突顯。全年國內生產總值增速為5.2%，中國經濟macro-control efforts focusing on expanding domestic demand 回升向好的趨勢進一步鞏固，並成為世界經濟增長optimising structure and boosting confidence which highlighted the 的重要引擎。
“resilience” of China’s economy. The annual GDP in 2023 increased
by 5.2% year on year marking a further consolidation of China’s
economic recovery and making it an important engine of growth for
the world economy.Annual Report 2023二零二三年年報11
Chairman’s Statement主席報告書In 2023 China’s automobile industry showed a “starting low and 二零二三年，中國汽車行業在複雜的外部環境中呈moving high gradually improving” trend amid the complex external 現「低開高走，逐步向好」走勢。年初，受到促銷政environment. At the beginning of the Year affected by the switch of 策切換和市場價格波動影響，汽車消費恢復相對滯promotional policies and market price fluctuations the recovery of 後；隨著中央和地方促銷政策、國六排放標準等發
automobile consumption was relatively lagging; yet with the release 佈實施，市場需求逐步釋放，「金九銀十」的熱銷重and implementation of the central and local promotional policies and 現。全年中國汽車銷量達3009.4萬輛，同比增長the China VI Emissions Standard for Vehicles the market demand was 12.0%，連續15年穩居全球第一，汽車整車出口達gradually released and the booming sales phenomenon in “Golden 491萬輛，同比增長57.9%，汽車業成為拉動中國September and Silver October” reappeared. The sales volume of 工業經濟增長的重要動力。二零二三年，中國新能automobiles in China reached 30.094 million units throughout the 源汽車繼續高速發展，全年銷量達949.5萬輛，同Year representing a year-on-year increase of 12.0% and ranking 比增長37.9%，連續九年全球稱冠，滲透率攀升至first in the world for the fifteenth consecutive year and the export of 31.6%，乘用車滲透率更在十二月突破40%，中國汽automobiles reached 4.91 million units representing a year-on-year 車市場格局發生了深刻的變化。中國新能源汽車憑increase of 57.9%. The automobile industry has become an important 藉完整成熟的產業鏈、領先的電動智能化技術，產driving force behind China’s industrial economic growth. In 2023 品力和品牌力持續提升，亦得到全球消費者的廣泛China’s new energy vehicles continued their rapid development with a 認可，全年新能源汽車出口達120.3萬輛，同比增長sales volume of 9.495 million units throughout the Year representing 77.6%，為全球汽車產業的綠色轉型貢獻了重要力a year-on-year increase of 37.9% and ranking first in the world for 量。二次充電電池方面，傳統消費類電子行業下半the ninth consecutive year. The penetration rate of new energy 年開始逐步形成弱復甦，上游電池需求亦受影響。
vehicles in China climbed up to 31.6% and that of passenger cars 儲能領域需求旺盛、市場活躍度不斷提升。光伏方even exceeded 40% in December indicating profound changes 面，碳中和浪潮崛起，全球光伏需求熱熾，企業加in the landscape of China’s automobile market. Riding on its 速一體化進程，國內光伏產業各環節供需保持高增comprehensive and mature industrial chain and leading electrically 長態勢。智能終端領域方面，全球智能手機行業powered intelligent technology China’s new energy vehicle brands 持續低迷，PC方面，雖然有人工智能(AI)應用的刺enhanced their product and brand power continuously and were 激，但需求仍受宏觀經濟影響。
also widely recognised by global consumers. China’s annual auto
exports amounted to 1.203 million units representing a year-on-year
increase of 77.6% contributing to the green-oriented transformation of
the global automobile industry significantly. In terms of rechargeable
batteries the traditional consumer electronics industry began to form
a weak recovery in the second half which also affected the demand
for upstream batteries. The robust demand in energy storage field
continuously heightened the market’s activity. As for the photovoltaic
industry the rise of carbon neutrality has ignited a global surge in
demand accelerating the integration of companies. Domestically the
photovoltaic industry is experiencing robust growth across all stages
of supply and demand. In terms of smart terminals the development
of global smartphone industry was still sluggish. In terms of the PC
field despite the stimulus from artificial intelligence (AI) applications
the demand was still influenced by the macroeconomy.12 BYD Company Limited比亞迪股份有限公司
Chairman’s Statement主席報告書
For the year ended 31 December 2023 the Group realized an 截至二零二三年十二月三十一日止年度，本集團營operating revenue of RMB602315 million representing a year-on-year 業額為人民幣602315百萬元，同比提升42.04%。
increase of 42.04%. Profit attributable to the owners of the parent 母公司擁有人應佔溢利為人民幣30041百萬元，同company were RMB30041 million an increase of 80.72% year- 比提升80.72%，每股盈利為人民幣10.32元。董事on-year with the earnings per share of RMB10.32. The Board 會建議派發末期股息每股人民幣3.096元（含稅）。
recommended the payment of a final dividend of RMB3.096 per share
(tax-inclusive).As a pioneer and leader in the global new energy vehicle industry the 本集團作為全球新能源汽車行業先行者和領導者，Group has steadily promoted the upgrading of brand power and the 穩步推進品牌力提升及出海戰略佈局，在行業競爭strategic layout of going abroad and achieved substantial business 日趨激烈的背景下實現業務長足發展，連續十一年development in the background of increasingly fierce competition 穩居中國新能源汽車銷量龍頭地位並蟬聯全球新能
in the industry leading China’s new energy vehicle sales for 11 源汽車銷量冠軍，並開創中國車企首次躋身全球銷consecutive years retaining its No. 1 position in the global sales of 量前十的歷史。
new energy vehicles and creating a history for a Chinese automobile
enterprise to rank top ten in terms of global sales for the first time.In the field of new energy passenger vehicles relying on the 在新能源乘用車領域，本集團依託心技術的持續創continuous innovation of core technologies and targeted and effective 新以及精準高效的市場策略，二零二三年銷量強勢market strategies the Group took the lead in sales in 2023 remaining 領跑，蟬聯中國車企乘用車銷量第一。本集團在持in the first spot in sales volume of passenger vehicles among Chinese 續推動現有技術應用的基礎之上，先後發佈「易四auto companies. Based on continuously promoting the application 方」架構、「雲輦」智能車身控制系統、「天神之眼」高
of existing technologies the Group successively released world- 階智能駕駛輔助系統及「DMO」超級混動越野平台等
leading forward-looking and revolutionary technologies including the 全球領先的前瞻性、顛覆性技術，進一步增強本集“e4 Platform” architecture the “DiSus” intelligent body control system 團的綜合競爭力，助力業務發展向更高層次邁進。
the advanced intelligent driving assistance system literally known as
“God’s Eye (天神之眼)” and the “DMO” super hybrid off-road platform
which further enhanced the Group’s comprehensive competitiveness
and lifted its business development to a higher level.Annual Report 2023二零二三年年報13
Chairman’s Statement主席報告書
The Group further expands the brand matrix shaping a multi-brand 本集團持續完善品牌矩陣，形成由「比亞迪」品牌、gradient layout consisting of the “BYD” brand the “Denza” brand 「騰勢」品牌、「仰望」品牌及「方程豹」品牌所構建的
the “Yangwang” brand and the “FANGCHENGBAO” brand. During 多品牌梯度佈局，年內各品牌市場表現亮眼，多品the Year all brands delivered stunning performance and the multi- 牌策略初見成效。「比亞迪」品牌作為本集團首個乘brand strategy achieved initial results. As the Group’s first passenger 用車品牌，逐步形成了「王朝」和「海洋」兩大系列產vehicle brand the “BYD” brand has gradually developed two series of 品。「王朝」系列旗下擁有「漢」、「唐」、「宋」、「秦」products the “Dynasty” series and the “Ocean” series. The “Dynasty” 和「元」五大家族式產品。「漢」家族於年內正式煥新series have five family products of “Han” “Tang” “Song” “Qin” 上市「漢EV冠軍版」、「漢DM-i冠軍版」和「漢DM-p戰
and “Yuan”. The “Han” family was rejuvenated during the Year and 神版」，產品力全面提升；「唐」家族推出「唐EV冠軍“Han EV Champion Edition” “Han DM-i Champion Edition” and “Han 版」、「唐DM-i冠軍版」和「唐DM-p冠軍版╱戰神版」，DM-p Ares Edition” were officially launched with product strength 進一步加強「唐」家族的產品競爭力；「宋」家族推出
comprehensively improved; the “Tang” family launched “Tang EV 「宋PLUS冠軍版」和「宋Pro冠軍版」，「宋L」亦於年底Champion Edition” “Tang DM-i Champion Edition” and “Tang DM-p 正式上市，助力「宋」家族持續領跑SUV市場；「秦Champion Edition/Ares Edition” which further strengthened the PLUS冠軍版」的上市成功打破合資壟斷，成為十三product competitiveness of the “Tang” family; the “Song” family 年來首次斬獲年度家轎冠軍的中國品牌車型。「元launched “Song PLUS Champion Edition” and “Song Pro Champion PLUS冠軍版」煥新推出，持續領跑A級純電市場。Edition” and “Song L” was also unveiled at the end of the year which 「海洋」系列中，「海豚」連續兩年獲得A0級汽車年銷empowered the “Song” family to continue to lead the new energy 冠軍；四月新上市的「海鷗」銷量持續高漲，榮獲A00SUV market; the launch of “Qin PLUS Champion Edition” successfully 級汽車年銷冠軍；同月煥新的「驅逐艦05冠軍版」在
put an end to the monopoly of joint venture brands being the first A+級轎車市場中實現銷量口碑齊頭並進；「海豹冠軍
Chinese model that claimed the championship on the chart of best- 版」及「海豹DM-i」分別於五月及九月上市，持續引領selling sedans of the year in 13 years. “Yuan PLUS Champion Edition” 中型轎車市場。
was launched with a new design and maintained the leading position
in the A-class pure electric vehicle market. Among the “Ocean”
series “Dolphin” continued to take the lead claiming the champion
of A0-class vehicle sales for two consecutive years; “Sea Gull”
newly launched in April witnessed rising sales all the way alongto the championship of annual A00-class vehicle sales; “Destroyer
05 Champion Edition” rejuvenated in the same month receivedboth good sales and reputation in the A+ class sedan market; “SealChampion Edition” and “Seal DM-i” launched in May and September
respectively continued their leading position in the midsize sedan
market.14 BYD Company Limited比亞迪股份有限公司
Chairman’s Statement主席報告書
Following the “BYD” brand as the Group’s brand focusing on the new 繼「比亞迪」品牌後，「騰勢」品牌作為本集團專注於energy luxury vehicle market the “Denza” brand endeavors to grow 新能源豪華汽車市場的品牌，致力於從中國豪華市from the path-breaker of China’s luxury new energy vehicle market 場的破局者邁向新能源豪華科技品牌領先者。「騰to the leader of technologies enabling luxury new energy vehicles. 勢」品牌首款豪華MPV「騰勢D9」銷量持續霸榜，榮“Denza D9” the first luxury MPV under the “Denza” brand was on the 獲二零二三年全品類MPV年度銷量冠軍。首搭「天神list of bestsellers and claimed the championship of 2023 for annual 之眼」高階智能駕駛輔助系統和「雲輦-A」智能空氣車
sales in the MPV market. Equipped with the “God’s Eye” advanced 身控制系統（標準版）的豪華獵跑SUV「騰勢N7」於七
intelligent driving assistance system and the “DiSus-A” intelligent air 月推出，實現整車智電融合，為用戶帶來智能、安body control system (standard version) the luxury shooting-brake SUV 全、舒適的新豪華出行體驗。此外，全新高端品牌“Denza N7” was launched in July which demonstrates the integration 「仰望」正式發佈，以其顛覆性的技術和產品開拓百of intelligence and electrification technologies and brings the luxury 萬級新能源市場，並重塑新能源時代高端品牌價值travel experience underpinned by intelligence safety and comfort. In 觀。「仰望U8」豪華版於九月上市，並在年底首個完addition a new high-end brand “Yangwang” was officially launched 整交付月，成為百萬級新能源SUV月度銷量第一，which opened up the million-RMB-worth new energy market with its 創造了中國汽車高端化的里程碑。專業個性化品牌subversive technologies and products and reshaped the high-end 「方程豹」亦於十一月推出超級混動硬派SUV「豹5」，brand values in the new energy era. “Yangwang U8” was launched 自上市以來熱度高企。
in September and secured the first place in the list of million-RMB-
worth new energy SUVs for monthly sales in the first calendar month
of delivery before the end of the year marking a milestone in the
history of China’s auto industry in developing high-end brands.The professional and personalized “FANGCHENGBAO” brand also
launched the super hybrid hardcore SUV “BAO 5” in November which
has been gaining popularity since it becomes available.While consolidating and expanding its development advantages in the 本集團在鞏固和擴大國內市場發展優勢的同時，積domestic market the Group has been accelerating overseas market 極加速海外佈局，已進入日本、德國、澳大利亞、expansion and has entered countries and regions including Japan 巴西、阿聯酋等多個國家和地區，勇奪多國新能源Germany Australia Brazil and the United Arab Emirates recording 汽車銷量冠軍。本集團首個海外乘用車生產基地泰stunning performance evidenced by the championship in new energy 國工廠於三月正式奠基，七月及十二月，亦分別宣vehicle sales. In March the foundation stone of the Group’s first 佈將在巴西設立大型生產基地綜合體及在匈牙利打
overseas passenger vehicle production base was officially laid in 造全球領先的新能源汽車整車製造基地，積極推進Thailand. In July and December the Group announced respectively 本地化生產進程，推動全球汽車電動化轉型。
that it would establish a large-scale manufacturing base complex
in Brazil and build a world-class new energy vehicle production
in Hungary to make active efforts to achieve localized production
thereby promoting the transformation of global vehicle electrification.In terms of rechargeable batteries product R&D and capacity 二次充電電池方面，年內產品研發及產能提升進展expansion went smoothly during the Year which contributed to the 順利，助力傳統電池業務穩步發展。此外，在保障steady development of the traditional battery business. In addition 自身動力電池需求的同時，本集團亦持續積極拓展while meeting inner power battery demand the Group also continued 外部客戶，加速市場化佈局。在儲能業務領域，本to actively expand external customers and accelerate the market- 集團推動新型儲能產業實現跨越式發展。光伏業務oriented deployment. In terms of energy storage field the Group 方面，在「雙碳」目標的引領下，本集團加速新技術facilitated the new energy storage industry to achieve leapfrog 研發佈局。
development. In respect of the photovoltaic business under the
guidance of the “carbon peaking and carbon neutrality” goal the
Group accelerated new technology R&D.Annual Report 2023二零二三年年報15
Chairman’s Statement主席報告書
With respect to the handset components and assembly segment 手機部件及組裝領域，本集團是全球領先的高科技the Group is a global leading provider of high-tech and innovative 創新產品提供商，依託於業界領先的研發和製造實products. With industry-leading R&D and manufacturing strength 力、高效規模化的生產經驗、多元的產品組合以及
efficient mass production experience diversified product portfolio 豐富的客戶資源，業務結構進一步優化，成本管控and abundant customer base the Group saw a significant profitability 能力提升，盈利能力顯著改善。消費電子方面，本improvement thanks to the further optimization in business structure 集團持續深化與大客戶的戰略合作關係，進一步鞏and cost control enhancement. In terms of consumer electronics 固自身行業龍頭地位。年內，新型智能產品業務發the Group continued to deepen its strategic cooperation with major 展持續穩健發展，市場份額不斷提升。
customers to consolidate its own leading position in the industry.During the Year the new intelligent product business continued its
steady development with an increasing market share.In terms of material acquisitions BYD Electronics (International) 重大收購方面，本集團旗下控股子公司比亞迪電子Company Limited a majority-owned subsidiary of the Group （國際）有限公司於二零二三年十二月二十九日完成
completed the acquisition of the mobile electronics manufacturing 收購全球最大電子製造服務及解決方案提供商之一
business of Jabil Inc. one of the world’s largest electronic Jabil Inc.的移動電子製造業務。此項收購將拓寬比manufacturing services and solutions providers on 29 December 亞迪電子的智能手機零部件業務。
2023. The acquisition will broaden the smartphone parts business of
BYD Electronics.Looking ahead to 2024 despite the complexity of the external 展望二零二四年，儘管外部環境依舊複雜，中國將environment China will continue to expand and unleash the new 以「穩中求進、以進促穩、先立後破」的基調，持續potential of domestic demand accelerate the development of new 擴大釋放內需新潛能，加快發展新質生產力，推動quality productive forces and push the economy to achieve high 經濟在平穩運行中實現高質量發展。三月，國務院quality development in a stable operation under the general principles 常務會議審議通過了《推動大規模設備更新和消費品of “pursuing progress while ensuring stability promoting stability 以舊換新行動方案》，亦利好新能源汽車行業。預期through progress and establishing the new before abolishing the 二零二四年中國新能源汽車市場將延續強勁增長勢old”. In March the executive meeting of the State Council considered 頭，邁進千萬輛級時代，滲透率有望再突破。
and passed the Action Plan for the Promotion of the Large-Scale
Equipment Renewal and Trade-in of Consumer Goods which is
also favorable to the new energy vehicle industry. It is expected that
China’s new energy vehicle market will continue to grow strongly in
2024 and the production capacity will exceed 10 million units with
penetration rate hitting another record high.With regard to the automobiles business the Group will strengthen the 在汽車領域，本集團將強化核心技術的研發及自主independency and controllability of its core technologies R&D and 可控，持續提升產品競爭力；緊抓市場消費趨勢，continue to enhance the competitiveness of its products. Focusing on 持續推進多品牌矩陣佈局，加速業務出海進程，助market consumption trend the Group will further improve its layout of 力中國汽車產業引領全球新能源汽車浪潮。
multi-brand matrix and accelerate the business “going global” to help
China’s automobile industry to lead the global new energy vehicle
trend.16 BYD Company Limited比亞迪股份有限公司
Chairman’s Statement主席報告書
In terms of rechargeable batteries the Group will continue to enhance 二次充電電池方面，本集團將持續提升自主創新和its independent innovation and R&D capabilities actively promote 研發能力，積極推進新技術應用及產品升級；進一the application of the innovative technologies and product upgrades 步擴大客戶基礎和業務範圍，推動相關業務持續發further expand its customer base and business coverage and 展。光伏業務方面，本集團將積極把握行業發展脈facilitate sustainable development of relevant businesses. In terms of 絡，着力技術研發，推動產品轉型升級，以迎接行photovoltaics business the Group will actively grasp the development 業爆發性增長機遇。
trend of the industry focus on technology R&D promote product
transformation and upgrading to usher in the explosive growth
opportunities of the industry.For the handset components and assembly business the Group will 手機部件及組裝業務方面，本集團將積極把握市場proactively capture market opportunities continue to put efforts on the 機遇，持續戰略佈局核心技術研發及創新，加強垂R&D of core technologies enhance its vertical integration advantage 直整合優勢，深化大客戶策略。在保持傳統業務行and deepen the strategy of developing major customers. While 業領導地位的同時，前瞻佈局的新興業務的相關產maintaining our industry-leading position in traditional businesses the 品線將保持強勁發展勢頭，帶動本集團業務及收入forward-looking deployment in the relevant product lines of emerging 規模持續壯大。消費電子業務方面，本集團將充分businesses will maintain a strong development momentum driving 把握AI、鈦金屬材料及其他新應用所帶來的發展機
the continuous growth of the Group’s business and revenue scale. In 遇，不斷擴大市場份額。新型智能產品業務方面，terms of consumer electronics business the Group will fully seize the 本集團看好AI服務器的市場前景，將持續積極投入development opportunities brought by AI titanium metal materials and 研發資源，加大佈局AI服務器相關產品和解決方other new applications to continue to expand its market share. In terms 案。本集團將持續深化與各細分領域頂尖客戶的合of new intelligent product business the Group is optimistic about the 作，智能家居、遊戲硬件、無人機等板塊將保持良market prospects for AI servers. It will keep investing in the R&D of AI 好發展勢頭，帶動新型智能產品業務規模長期可持servers actively and put more effort on the development of products 續發展。
and solutions related to AI servers. The Group will continue to deepen
cooperation with top-tier clients in various niche fields. There will be a
strong growth momentum in the fields of smart home devices game
hardware and drones driving the long-term sustainability of the new
intelligent product business scale.To contribute to practice of the “carbon peaking and carbon 為助力實踐「雙碳」目標，本集團將繼續堅定發展戰neutrality” goal the Group will continue to adhere to its development 略，堅持技術創新和核心技術自主可控，推出更多strategy insist on technological innovation and independency and 更具競爭力的產品，為城市發展提供多元化的綠色controllability of its core technologies launch more products with 解決方案，促進低碳社會和可持續發展。同時，本higher competitiveness provide diversified green solutions for urban 集團積極推進市場化發展，構建產業合作共贏生development and promote rapid and healthy development of a low- 態，實現本集團的長久繁榮和基業長青，將本集團carbon society. At the same time the Group actively promoted market- 打造成中國工業的百年企業。
oriented development and built a win-win ecosystem through industrial
cooperation in an attempt to achieve the long-term prosperity and
long-lasting development of the Group and make the Group a century-
old enterprise in China.Annual Report 2023二零二三年年報17
Chairman’s Statement主席報告書
Lastly on behalf of the Group I would like to express sincere 最後，本人謹代表本集團感謝各位忠誠客戶一直以gratitude to our loyal customers for their persistent support and love. 來的支持及厚愛，同時亦感激各位業務夥伴、投資I also give my heartfelt thanks to all business partners investors and 者及股東的信任，並對全體員工在過去一年緊守崗shareholders for their trust. Besides I would like to present my heartfelt 位，默默耕耘和奉獻致以衷心感謝。本集團將繼往gratitude to all staff for their unobtrusive hard work and contribution 開來，與時並進，把握市場機遇，發揮自身優勢，in the past year. The Group will build on past achievements and keep 致力推進本集團的長期可持續發展，為股東創造最pace with the times seize market opportunities and make use of its 大回報。
own advantages to promote the long-term healthy development of the
Group to maximize returns for shareholders.Wang Chuan-fu 主席
Chairman 王傳福
Shenzhen the PRC 26 March 2024 中國深圳，二零二四年三月二十六日20 BYD Company Limited比亞迪股份有限公司Management Discussion and Analysis管理層討論與分析
INDUSTRY ANALYSIS AND REVIEW 行業分析及回顧
Automobiles and Batteries Business 汽車及電池業務
In 2023 the international geopolitical tensions intensified the 二零二三年，國際地緣政治緊張局勢加劇，通脹高high inflationary environment prevailed the growth of most major 企的大環境持續，多數主要經濟體增長放緩，全球economies slowed down and the complexity severity and uncertainty 經濟發展的複雜性、嚴峻性、不確定性上升。中國of global economic development increased. The unfavourable external 經濟亦受到外部環境影響，總需求不足，消費及投environment also affected China’s economy resulting in insufficient 資預期偏弱，房地產市場低迷，各行各業面臨諸多overall demand weak consumption and investment expectations a 挑戰。面對外部壓力和內部困難，中國政府加大宏sluggish property market and various challenges faced by industries 觀調控力度，着力擴大內需、優化結構、提振信and trades. In the face of external pressures and internal difficulties 心，使中國經濟的「韌性」突顯。據國家統計局公佈the Chinese government stepped up its macro-control efforts focusing 的數據顯示，二零二三年全年國內生產總值增速為on expanding domestic demand optimising structure and boosting 5.2%，呈現前低、中高、後穩的態勢，中國經濟回confidence which highlighted the “resilience” of China’s economy. 升向好的趨勢進一步鞏固，並成為世界經濟增長的According to the data released by the National Bureau of Statistics 重要引擎。
the annual GDP in 2023 increased by 5.2% year on year showing a
trend of starting low moving up and stabilising later on marking a
further consolidation of China’s economic recovery and making it an
important engine of growth for the world economy.Annual Report 2023二零二三年年報21
Management Discussion and Analysis管理層討論與分析In 2023 China’s automobile industry showed a “starting low and 二零二三年，中國汽車行業在複雜的宏觀環境中呈moving high gradually improving” trend amid the complex macro 現「低開高走，逐步向好」走勢。年初，受到促銷政environment. At the beginning of the Year affected by the switch of 策切換和市場價格波動影響，汽車消費恢復相對滯promotional policies and market price fluctuations the recovery of 後；隨着中央和地方促銷政策、國六排放標準等發
automobile consumption was relatively lagging; yet with the release 佈實施，市場需求逐步釋放，「金九銀十」的熱銷效and implementation of the central and local promotional policies and 應重現。根據中國汽車工業協會的數據，二零二三the China VI Emissions Standard for Vehicles the market demand 年全年中國汽車產銷量躍上新台階，同比分別增長was gradually released and the booming sales phenomenon in 11.6%和12.0%至3016.1萬輛和3009.4萬輛，產銷“Golden September and Silver October” reappeared. According to 量創歷史新高，並連續15年穩居全球第一，全年中the statistics from the China Association of Automobile Manufacturers 國汽車整車出口491萬輛，同比增長57.9%，汽車業the production and sales volume of automobiles in China leapt to a 成為拉動中國工業經濟增長的重要動力。期間，得new level in 2023 by registering a year-on-year growth of 11.6% and 益於中國新能源汽車的高速發展，中國自主品牌的
12.0% to a record high of 30.161 million units and 30.094 million units 市場份額不斷提升，全年自主品牌乘用車份額首次
respectively ranking first in the world for the fifteenth consecutive 突破50%，「換道超車」引領了行業拐點，中國汽車year and throughout the year China’s export of automobiles reached 市場格局發生了深刻的變化。根據中國汽車工業協
4.91 million units representing a year-on-year increase of 57.9%. The 會的數據，二零二三年全年中國新能源汽車產銷量
automobile industry has become an important driving force behind 分別為958.7萬輛和949.5萬輛，同比分別增長35.8%China’s industrial economic growth. During the Period benefiting from 和37.9%，連續九年位居全球第一，市場滲透率進the rapid development of China’s new energy vehicles the market 一步攀升逾5.9個百分點至31.6%，乘用車滲透率更share of Chinese local brands continued to increase with the market 在十二月突破40%。中國新能源汽車憑藉完整成熟share of local brands of passenger cars exceeding 50% for the first 的產業鏈、領先的電動智能化技術，產品力和品牌time. Such a movement of “changing lanes and overtaking” led to an 力持續提升，不僅在國內大放異彩，更遠銷海外，inflexion point in the industry and the pattern of China’s automobile 得到全球消費者的廣泛認可。據中國汽車工業協會market underwent a profound change. According to the statistics 整理的海關總署數據顯示，二零二三年全年中國新from the China Association of Automobile Manufacturers the annual 能源汽車出口達120.3萬輛，同比增長77.6%，為全production and sales volume of new energy vehicles in China recorded 球汽車產業的綠色轉型貢獻了重要力量。
a year-on-year growth of 35.8% and 37.9% in 2023 to 9.587 million
units and 9.495 million units respectively ranking first in the world
for the ninth consecutive year. The market penetration rate of new
energy vehicles in China further climbed by more than 5.9 percentage
points to 31.6% and that of passenger cars even exceeded 40% in
December. Riding on its comprehensive and mature industrial chain
and leading electrically powered intelligent technology China’s new
energy vehicle brands enhanced their product and brand power
continuously and achieved remarkable success not only in China but
also in overseas markets gaining widespread recognition from global
consumers. According to the statistics from the General Administration
of Customs of the People’s Republic of China consolidated by the
China Association of Automobile Manufacturers in 2023 China’s
annual auto exports amounted to 1.203 million units representing a
year-on-year increase of 77.6% contributing to the green-oriented
transformation of the global automobile industry significantly.22 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
The development of new energy vehicles is the only approach for 發展新能源汽車是我國從汽車大國邁向汽車強國的
China to evolve from a participant to an industry leader which has 必由之路，具有重大的戰略意義。順勢而為、乘勢great strategic significance. To consolidate and expand the current 而上，為了鞏固和擴大當前新能源汽車的發展優development advantages of the new energy vehicles the Chinese 勢，中國政府因時制宜的出台系列支持政策。二零government has introduced a series of expedient supportive policies. 二三年五月，國家發展改革委聯合國家能源局印發In May 2023 the National Development and Reform Commission and 《關於加快推進充電基礎設施建設 更好支持新能源the National Energy Administration jointly issued the Implementing 汽車下鄉和鄉村振興的實施意見》，優化新能源汽車Opinions on Accelerating the Construction of Charging Infrastructure 購買使用環境，積極推動新能源汽車在下沉市場的and Better Supporting New Energy Vehicles to the Countryside Policy 滲透。六月，財政部等三部門聯合發佈《關於延續和and Rural Revitalization 《( 關於加快推進充電基礎設施建設 更好支持新能 優化新能源汽車車輛購置稅減免政策的公告》，再源汽車下鄉和鄉村振興的實施意見》) to optimize the environment for the 度延長新能源汽車購置稅減免政策期限至二零二七
purchase and use of new energy vehicles and to proactively promote 年十二月三十一日，減免力度分年度逐步退坡，以the penetration of new energy vehicles into the lower-tier markets. In 穩定市場預期，促進新能源汽車消費潛力進一步釋June three government authorities including the Ministry of Finance 放。同月，國務院辦公廳印發《關於進一步構建高jointly issued the Announcement on Continuation and Optimization of 質量充電基礎設施體系的指導意見》，更好滿足人Policies for Reduction and Exemption of Vehicle Purchase Tax on New 民群眾購置和使用新能源汽車需要，助力推進交通Energy Vehicles 《( 關於延續和優化新能源汽車車輛購置稅減免政策 運輸綠色低碳轉型與現代化基礎設施體系建設。同的公告》) further extending the period of the policy to 31 December 月，工信部等五部門發佈《關於修改<乘用車企業平
2027 and the efforts for reduction and exemption will be gradually 均燃料消耗量與新能源汽車積分並行管理辦法>的phased out on an annual basis to stabilize the market expectation 決定》，建立新能源汽車積分池管理制度，引導產業and promote the further release of the consumption potential of 高質量發展。七月，國家發展改革委等部門印發《關new energy vehicles. In the same month the General Office of the 於促進汽車消費的若干措施》的通知，提出包括優State Council issued the Guiding Opinions on Further Construction 化汽車限購管理政策、降低新能源汽車購置使用成of a High-quality Charging Infrastructure System 《( 關於進一步構建 本等系列政策，擴大汽車消費。八月，工信部等七高質量充電基礎設施體系的指導意見》) to better meet the needs of 部門印發《汽車行業穩增長工作方案（2023年–2024the public in purchasing and using new energy vehicles which is 年）》，支持擴大新能源汽車消費、夯實產業鏈供應conducive to promoting the green and low-carbon transformation of 鏈。十一月，工信部等四部門發佈《關於開展智能網transportation and the construction of a modernized infrastructure 聯汽車准入和上路通行試點工作的通知》，為汽車企system. In the same month five departments including the Ministry 業開展智能網聯汽車生產試點工作打下基礎。十二of Industry and Information Technology (the “MIIT”) released the 月，工業和信息化部等三部門發佈《關於調整減免車Decision on Amending the “Measures for the Parallel Administration of 輛購置稅新能源汽車產品技術要求的公告》，引導企Credit Points for Average Fuel Consumption and New Energy Vehicles 業繼續提升產品質量和性能，促進新能源汽車產業of Passenger Vehicle Enterprises” 《( 關於修改<乘用車企業平均燃 高質量發展。料消耗量與新能源汽車積分並行管理辦法>的決定》) establishing a
credit points pool management system for new energy vehicles to
guide high-quality development for the industry. In July the National
Development and Reform Commission and other departments issued
a notice on Several Measures to Promote Automobile Consumption
《( 關於促進汽車消費的若干措施》) proposing a series of policies
including optimising automobile purchase restrictions and reducing
the cost of purchasing and using new energy vehicles to expand
automobile consumption. In August seven departments including
the MIIT issued the Work Plan for Stable Growth in the Automobile
Industry (2023–2024) 《( 汽車行業穩增長工作方案(2023年-2024年)》)
supporting the expansion of consumption of new energy vehicles and
consolidating the industrial chain and supply chain. In November
four departments including the MIIT issued the Notice on Carrying
Out Pilot Work for the Access and Road Use of Intelligent Connected
Vehicles 《( 關於開展智能網聯汽車准入和上路通行試點工作的通知》)
laying the foundation for automobile enterprises to carry out pilot
production work for intelligent connected vehicles. In December
three departments including the MIIT issued the Announcement on
Adjusting the Technological Requirements for New Energy VehicleProducts for Reduction and Exemption of Vehicle Purchase Tax 《( 關於調整減免車輛購置稅新能源汽車產品技術要求的公告》) guiding
enterprises to continue improving product quality and performance
and promoting the high-quality development of the new energy vehicle
industry.Annual Report 2023二零二三年年報23
Management Discussion and Analysis管理層討論與分析
In terms of rechargeable batteries in 2023 the demand from the 二次充電電池方面，二零二三年，傳統消費類電子traditional consumer electronics industry bottomed out in the first 行業需求在上半年築底，下半年開始逐步形成弱復half of the year and began to form a weak recovery in the second 甦，其上游電池需求亦受影響。儲能領域方面，全half which also affected the demand for upstream batteries. In terms 球雙碳戰略及能源結構轉型進程加速，儲能需求旺of the energy storage field the global carbon peaking and carbon 盛、技術進步、產能擴張，儲能市場活躍度不斷提neutrality strategy and the acceleration of the process of energy 升，持續蓬勃發展。光伏方面，碳中和浪潮蓬勃興structure transformation have led to robust energy storage demand 起，全球光伏需求熱熾，企業向一體化加速發展，technological progress and capacity expansion which continuously 國內光伏產業各環節供需保持高增長態勢。
heightened the market’s activity and fostered its sustained prosperous
development. As for the photovoltaic industry the drive towards
carbon neutrality has ignited a global surge in demand prompting
companies to move quickly towards a more integrated approach.Domestically the photovoltaic industry is experiencing robust growth
across all stages of supply and demand.Handset Components and Assembly Business 手機部件及組裝業務
In 2023 the persistence of inflation and the increased uncertainty 二零二三年，通脹持續及全球經濟的不確定性加of the global economy led to a weakening recovery of consumer 大，令消費需求復甦減弱，加上受年初庫存量增加demand. Coupled with the impact of increased inventory levels 的影響，根據市場研究機構IDC統計，二零二三年全at the beginning of the year according to the statistics from IDC 球智能手機出貨量同比下降3.2%，降至11.7億部，a market research institute in 2023 the shipment of global smart 為十年來最低的全年出貨量。中國智能手機市場上phones declined by 3.2% year-on-year to 1.17 billion units marking 半年依然處於低迷階段，下半年隨着經濟環境逐漸the lowest annual shipment in a decade. China’s smart phone market 改善及消費者對新機型熱度和關注度的提升，市場was lacklustre in the first half but experienced a modest recovery in 需求有所好轉，但尚未完全釋放。中國信息通信研the latter half as the economy improved and consumer interest in new 究院發表的數據顯示，二零二三年，國內手機市場models grew. According to the data released by the China Academy 整體出貨量累計2.89億部，同比增長6.5%，其中5Gof Information and Communications Technology in 2023 the shipment 手機出貨量為2.40億部，同比增長11.9%，佔同期手of domestic mobile phones reached 289 million units representing a 機出貨量的82.8%。PC方面，人工智能(AI)應用刺激year-on-year increase of 6.5%; in particular the shipment of 5G smart 了PC的剛性需求，但整體市場仍受宏觀經濟挑戰的phones was 240 million units representing a year-on-year growth of 影響，根據IDC數據，二零二三年，全球PC出貨量
11.9% accounting for 82.8% of the shipment of mobile phones in 同比下降13.9%至2.60億台；全球平板電腦出貨量為
the corresponding period. In terms of the PC field the application 1.29億台，同比下降20.5%。
of artificial intelligence (AI) has stimulated the rigid demand for
PCs but the overall market is still affected by the challenges of the
macroeconomic environment. According to the statistics from IDC in
2023 global PC shipments fell 13.9% year-on-year to 260 million units.
The global tablet computers shipments reached 129 million units
representing a year-on-year decline of 20.5%.24 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
BUSINESS REVIEW 業務回顧BYD Company Limited (“BYD” or “the Company” together with its 比亞迪股份有限公司（「比亞迪」或「本公司」及其附屬subsidiaries “the Group”) is principally engaged in the automobile 公司統稱「本集團」）主要經營包括以新能源汽車為
business which mainly includes new energy vehicles handset 主的汽車業務，手機部件及組裝業務，二次充電電components and assembly business rechargeable batteries and 池及光伏業務，並積極利用自身技術優勢拓展城市photovoltaic business. Meanwhile with its technological superiority 軌道交通及其他業務。於二零二三年，本集團實現the Group actively develops urban rail transportation and other 收入約人民幣602315百萬元，同比增長42.04%，business segments. In 2023 the Group recorded a revenue of 其中汽車、汽車相關產品及其他產品業務的收入約
approximately RMB602315 million representing a year-on-year 人民幣483453百萬元，同比增長48.90%；手機部increase of 42.04% among which the revenue from the automobiles 件、組裝及其他產品業務的收入約人民幣118577百
and related products and other products amounted to approximately 萬元，同比增長20.00%；佔本集團總收入的比例分RMB483453 million representing a year-on-year increase of 48.90%; 別為80.27%和19.68%。
the revenue from the handset components assembly service and
other products amounted to approximately RMB118577 million 汽車及電池業務
representing a year-on-year increase of 20.00%. These business
本集團作為全球新能源汽車行業先行者和領導者，segments accounted for 80.27% and 19.68% of the Group’s total
憑藉精準的戰略佈局、領先的技術實力、深刻的市
revenue respectively.場洞察、全面的產業佈局，穩步推進品牌力提升及出海戰略佈局，在行業競爭日趨激烈的大背景下厚Automobiles and Batteries Business積薄發，實現業務的長足發展。根據中汽協數據，As a pioneer and leader in the global new energy vehicle industry 二零二三年本集團新能源汽車市佔率進一步提升至
relying on its precise strategic layout leading technical strength 31.9%，同比增長4.8個百分點，連續十一年穩居中profound market insights and multi-dimensional industrial landscape 國新能源汽車銷量龍頭地位，蟬聯全球新能源汽車the Group has steadily promoted the upgrading of brand power 銷量桂冠，並開創中國車企首次躋身全球銷量前十and the strategic layout of going abroad and achieved substantial 的歷史。十一月，本集團第600萬輛新能源汽車下business development driven by the full preparation made in the 線，成為全球首家實現這一里程碑的車企，品牌影background of increasingly fierce competition in the industry. 響力持續擴大，為全球汽車產業轉型升級奠定堅實According to data from the China Automobile Association in 2023 the 基礎。
market share of the Group’s new energy vehicles further expanded
to 31.9% indicating a year-on-year increase of 4.8 percentage
points leading China’s new energy vehicle sales for 11 consecutive
years retaining its No. 1 position in the global sales of new energy
vehicles and creating a history for a Chinese automobile enterprise
to rank top ten in terms of global sales for the first time. In November
the Group launched the 6 millionth new energy vehicle becoming
the first automaker in the world to reach such a milestone claiming
greater brand influence and thus laying a solid foundation for the
transformation and upgrading of the global auto industry.In the field of new energy passenger vehicles relying on the 在新能源乘用車領域，本集團依託核心技術的持續continuous innovation of core technologies and targeted and effective 創新以及精準高效的市場策略，二零二三年銷量強market strategies the Group took the lead in sales in 2023 achieving 勢領跑，實現同比超60%的大幅增長，持續創歷史a substantial year-on-year growth of over 60% and continued to hit a 新高，蟬聯中國車企乘用車銷量第一。
record high remaining in the first spot in sales volume of passenger
vehicles among Chinese auto companies.Annual Report 2023二零二三年年報25
Management Discussion and Analysis管理層討論與分析
Being committed to independent innovation the Group vigorously 本集團始終堅持自主創新，用顛覆性技術催生壯大applies disruptive technologies to boost new quality productive forces 新質生產力，為行業高質量發展注入新動能。憑藉thereby fostering new drivers for the high-quality development of the 強大的研發基因和濃厚的工程師文化，本集團在industry. Relying on strong research and development genes and 持續推動現有技術應用的基礎之上，進一步推出rich engineer culture the Group further launched a series of world- 一系列全球領先的前瞻性、顛覆性技術。二零二三leading forward-looking and revolutionary technologies based on 年，本集團先後發佈「易四方」架構、「雲輦」智能車continuously promoting the application of existing technologies. In 身控制系統、「天神之眼」高階智能駕駛輔助系統及
2023 the Group successively released the “e4 Platform” architecture 「DMO」超級混動越野平台，進一步增強本集團的綜
the “DiSus” intelligent body control system the advanced intelligent 合競爭力，助力業務發展向更高層次邁進。「易四driving assistance system literally known as “God’s Eye” 「( 天神之眼」) 方」架構以四電機獨立驅動為核心，從感知、控制、and the “DMO” super hybrid off-road platform which further enhanced 執行三個維度圍繞新能源汽車的特性進行了全面重
the Group’s comprehensive competitiveness and lifted its business 構，為消費者帶來極致安全、極致性能和極致體驗development to a higher level. Based on the four-motor independent 的跨時代產品。「雲輦」作為全球首個新能源專屬的driver as the core the “e4 Platform” architecture completely 智能車身控制系統，打破碎片化的開發模式，系統reconstructs the characteristics of new energy vehicles in three 化考量新能源汽車的垂向控制問題，以高智能、護aspects of perception control and execution providing consumers 安全、穩駕乘、全覆蓋的技術優勢，為用戶帶來兼with a cross-era product featuring ultimate safety performance 顧舒適性與操控性的極致駕乘體驗。「天神之眼」高and experience. As the world’s first intelligent body control system 階智能駕駛輔助系統以自研硬件、軟件以及算法構
dedicated to new energy vehicles “DiSus” breaks the fragmented 建全棧自研整車系統級解決方案，為安全而生，實development model and systematically considers the vertical control 現全場景的陪伴、輔助、救助，開啓智能化的新篇of new energy vehicles aiming to bring users the ultimate driving 章。「DMO」超級混動越野平台通過全新混動非承載experience that takes into account both comfort and controllability with 式架構和越野專用混動架構的極致融合，充分發揮the technical advantages of high intelligence safety and protection 本集團在高性能底盤、智能電四驅及越野專用動力
stable driving and full coverage. With self-research hardware software 總成等方面的領先優勢，成就整車安全之上超強動and algorithms to build a full stack of self-research system-level 力、強悍越野與極致能耗之間的最佳平衡。
solutions for the entire vehicle the “God’s Eye” advanced intelligent
driving assistance system is born for safety enables a whole scenario
of companionship assistance and rescue and opens up a new
chapter of auto-intelligence. The “DMO” super hybrid off-road platform
makes full use of the Group’s leading advantages in high-performance
chassis intelligent electric four-wheel drive and off-road-specific
power-train system through the ultimate integration of new hybrid non-
load-bearing frame structure and off-road-specific hybrid structure
to achieve a perfect balance among super power strong off-road
strength and the least energy consumption while ensuring vehicle
safety.26 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
Relying on the continuous iteration and innovation
of the Group’s core technologies the Group further
expands the brand matrix as it unveils the high-
end “Yangwang” brand and the professional
and personalized “FANGCHENGBAO” brand in
succession during the year gradually shaping a
multi-brand gradient layout consisting of the “BYD”
brand the “Denza” brand the “Yangwang” brand
and the “FANGCHENGBAO” brand covering from
home to luxury from mass to personalized fully
satisfying users’ automobile needs in all scenarios.In 2023 all brands of the Group maintained steady
development and delivered stunning performance
and the multi-brand strategy achieved initial results.依託於核心技術的迭代與創新，本集團持續完善品牌矩陣，高端品牌「仰望」及專業個性化品牌「方程豹」年內相繼正式發佈，形成由「比亞迪」品牌、「騰勢」品牌、「仰望」品牌及「方程豹」品牌所構建的多
品牌梯度佈局，覆蓋從家用到豪華、從大眾到個性化，滿足用戶多方位全場景用車需求。二零二三年本集團各品牌穩紮穩打，市場表現亮眼，多品牌策略初見成效。Annual Report 2023二零二三年年報27
Management Discussion and Analysis管理層討論與分析
As the Group’s first passenger vehicle brand the “BYD” brand has 「比亞迪」品牌作為本集團首個乘用車品牌，逐步形gradually developed two series of products the “Dynasty” series 成了「王朝」和「海洋」兩大系列產品。期內，依託對and the “Ocean” series. Relying on precise insights into consumer 消費者需求的精準洞察，本集團積極優化「比亞迪」demand the Group actively optimized the product matrix of the 品牌產品矩陣，推出多款迭代及全新車型，進一步“BYD” brand and launched several iterative and new models during 推進「油電平價」，持續鞏固競爭優勢。「王朝」系列the period and it also further promoted the “price parity between 將領先的科技與國潮文化完美融合，打造國潮、智fuel-engine vehicle and electric vehicle” initiative to continuously 能的新能源汽車，旗下擁有「漢」、「唐」、「宋」、「秦」consolidate the competitive advantage. The “Dynasty” series perfectly 和「元」五大家族式產品。「漢」作為中國自主品牌高integrate the leading technology and Chinese fashion trend to create 端化的旗幟之一，自上市以來持續熱銷，熱度不Chinese fashion and smart new energy vehicles with five family 減。期內，「漢」家族全面煥新，「漢EV冠軍版」、「漢products of “Han” “Tang” “Song” “Qin” and “Yuan”. As one of the DM-i冠軍版」和「漢DM-p戰神版」正式上市，產品力signature products of domestic brands’ high-end process “Han” 全面提升，顛覆主流B級轎車市場。「唐」家族作為本has continued to be popular since its launch. During the period the 集團中大型旗艦SUV系列產品，「唐EV冠軍版」、「唐“Han” family was completely rejuvenated and “Han EV Champion DM-i冠軍版」和「唐DM-p冠軍版╱戰神版」的推出，Edition” “Han DM-i Champion Edition” and “Han DM-p Ares Edition” 進一步加強「唐」家族的產品競爭力。「宋」家族中，were officially launched. The product strength was comprehensively 「宋PLUS冠軍版」和「宋Pro冠軍版」於年內煥新推出，improved subverting the mainstream B-segment sedan market. 上市即熱銷，B級先鋒獵裝SUV「宋L」亦於年底正式“Tang” is the Group’s medium/large flagship SUV series product and 上市，「e平台3.0」、「CTB」和「雲輦-C」三大核心技術the launch of “Tang EV Champion Edition” “Tang DM-i Champion 賦能，助力「宋」家族以強大的產品力持續領跑SUVEdition” and “Tang DM-p Champion Edition/Ares Edition” has further 市場。「秦」家族中，「秦PLUS冠軍版」作為本年度首strengthened the product competitiveness of the “Tang” family. For 個迭代車型，上市即引爆市場，並成功打破合資壟the “Song” family “Song PLUS Champion Edition” and “Song Pro 斷，成為十三年來首次斬獲年度家轎冠軍的中國品Champion Edition” were launched with renewed designs during 牌車型。「元」家族中，作為搭載「e平台3.0」的首款Athe year being sought after immediately and “Song L” the B-class 級潮跑SUV，「元PLUS冠軍版」煥新推出，持續領跑pioneer shooting-brake SUV was unveiled at the end of the year. A級純電市場。
Empowered by the three core technologies “e-Platform 3.0” “CTB”
and “DiSus-C” “Song L” helped the “Song” family continue to lead the
new energy SUV market with strong product strength. For the “Qin”
family “Qin PLUS Champion Edition” as the first iterative model of the
year shocked the market immediately after its launch and put an end
to the monopoly of joint venture brands. It was the first Chinese model
that claimed the championship on the chart of best-selling sedans of
the year in 13 years. For the “Yuan” family “Yuan PLUS ChampionEdition” as the first A-class SUV equipped with “e-Platform 3.0” and
launched with a new design maintained the leading position in the
A-class pure electric vehicle market.28 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
「海洋」系列採用海洋美學的設計理念，以更年輕的產品定位，進一步滿足客戶多元化消費需求。純電新物種「海豚」銷量持續領跑，連續兩年獲得A0級汽車年銷冠軍，同時創造了A0級汽車年度銷量新紀錄。「海鷗」於四月正式上市，銷量勢頭一路高漲，榮獲A00級汽車年銷冠軍。「驅逐艦05冠軍版」亦於四月上市，持續滿足用戶多樣化的用車需求，在A+級轎車市場中實現銷量口碑齊頭並進。純電運動轎跑「海豹冠軍版」於五月煥新上市，「海豹DM-i」亦於九月正式上市，進一步豐富消費者的選擇，持續引領中型轎車市場。
The “Ocean” series adopts the design concept of
ocean aesthetics with a product position aimed
at younger generations to further satisfy the
diversified needs of consumers. The pure electric
vehicle product “Dolphin” continued to take the
lead claiming the champion of A0-class vehicle
sales for two consecutive years and setting a new
record of annual A0-class vehicle sales. Launched
officially in April “Sea Gull” witnessed rising sales
all the way along to the championship of annualA00-class vehicle sales. “Destroyer 05 ChampionEdition” also launched in April better met the
diverse needs of users for cars and received both
good sales and reputation in the A+ class sedan
market. On top of the pure electric sports activity
coupé “Seal Champion Edition” launched in May
with a renewed design “Seal DM-i” was available in
the market in September offering more alternatives
to consumers and consolidating the leading
position in the midsize sedan market.Annual Report 2023二零二三年年報29
Management Discussion and Analysis管理層討論與分析
As the Group’s brand focusing on the new energy luxury vehicle 「騰勢」品牌作為本集團專注於新能源豪華汽車市場
market the “Denza” brand builds its core competitiveness with 的品牌，以領先的新能源與安全技術、智慧豪華產leading new energy and safety technologies smart luxury product 品品質以及用戶生態服務體系，構建品牌核心競爭quality and user eco-services system and endeavors to grow from the 力，致力於從中國豪華市場的破局者邁向新能源豪path-breaker of China’s luxury new energy vehicle market to the leader 華科技品牌領先者。「騰勢」品牌首款豪華MPV「騰勢of technologies enabling luxury new energy vehicles. “Denza D9” D9」集豪華、智能、動力、安全於一身，銷量持續霸the first luxury MPV under the “Denza” brand that integrates luxury 榜，榮獲二零二三年全品類MPV年度銷量冠軍，牢intelligence power and safety was on the list of bestsellers and 牢佔據中國豪華MPV新價值標桿的引領地位。隨着claimed the championship of 2023 for annual sales in the MPV market 品牌勢能的穩健迸發，「騰勢」品牌以超卓的技術創firmly occupying the leading position in the new value benchmark 新，於七月正式推出智能豪華獵跑SUV「騰勢N7」。
of luxury MPVs in China. With the steady growth of the brand force 「騰勢N7」首搭「天神之眼」高階智能駕駛輔助系統和
the “Denza” brand launched the smart and luxury shooting-brake 「雲輦-A」智能空氣車身控制系統（標準版），從智能座SUV “Denza N7” with outstanding technological innovation in July. 艙、智能駕駛、智能底盤三大方面，實現整車智電Equipped with the “God’s Eye” advanced intelligent driving assistance 融合，為用戶帶來智能、安全、舒適的新豪華出行system and the “DiSus-A” intelligent air body control system (standard 體驗。
version) “Denza N7” demonstrates the integration of intelligence and
electrification technologies from three dimensions: intelligent cockpit
intelligent driving and intelligent chassis and brings the luxury travel
experience underpinned by intelligence safety and comfort.With the maturity and application of core technologies such as 伴隨着「易四方」等核心技術的成熟與應用，本集團“e4 Platform” the Group officially launched a new high-end brand 於年初正式發佈全新高端品牌「仰望」，以顛覆性的“Yangwang” at the beginning of the year which opened up the million- 技術和產品開拓百萬級新能源市場，並重塑新能源RMB-worth new energy market with subversive technologies and 時代高端品牌價值觀。「仰望U8」豪華版於九月正式products and reshaped the high-end brand values in the new energy 上市，搭載「易四方」及「雲輦-P」智能液壓車身控制系era. Available officially in September “Yangwang U8” Luxury version 統兩大核心技術，實現對車身的全方位智能控制，is equipped with “e4 Platform” technology and “DiSus-P” intelligent 真正做到了極致越野、舒適奢享的完美平衡，讓駕hydraulic body control system to realize all-round intelligent control of 乘體驗更具想象力。在年底首個完整交付月，「仰望the body and it truly achieves the perfect balance of extreme off-road U8」一舉成為百萬級新能源SUV月度銷量第一，創造capability comfort and luxury making the driving experience more 了中國汽車高端化的里程碑。
imaginative. In the first calendar month of delivery before the end of
the year “Yangwang U8” secured the first place in the list of million-
RMB-worth new energy SUVs for monthly sales marking a milestone
in the history of China’s auto industry in developing high-end brands.30 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
Unveiled in August “FANGCHENGBAO” brand a professional 本集團專業個性化品牌「方程豹」品牌於八月正式發
and personalized brand is built on the professional new energy 佈，依託專業新能源技術平台和整車架構，以兼technology platform and vehicle architecture and offers a diverse 具「野心、悅心、玩心」的多樣化強悍產品，與用戶range of powerful products underscoring “ambition joy and fun” 共同探索不同個性化場景下獨特的用車體驗和全
characteristics inviting users to explore unique driving experience 新生活方式。作為「方程豹」旗下首款超級混動硬派and new lifestyle in different personalized scenarios. “BAO 5” the SUV，「豹5」於十一月正式上市，搭載「DMO」超級混first super hybrid hardcore SUV under the “FANGCHENGBAO” brand 動越野平台並可選裝「雲輦-P」智能液壓車身控制系
officially launched in November is equipped with “DMO” super hybrid 統（標準版），兼顧越野性能和舒適體驗，自上市以off-road platform with “DiSus-P” intelligent hydraulic body control 來熱度高企。
system (standard version) being optional striking a balance between
off-road performance and comfortable experience and has been
gaining popularity since it becomes available.Annual Report 2023二零二三年年報31
Management Discussion and Analysis管理層討論與分析
While consolidating and expanding its development advantages in 在鞏固和擴大國內市場發展優勢的同時，本集團依the domestic market the Group has been accelerating overseas 託「科技領先、安全領先、品質領先、市場領先」的market expansion by relying on its comprehensive strength of “leading 全面實力，積極加速海外佈局。年內，本集團新能technology leading safety leading quality and leading market”. During 源乘用車已進入日本、德國、澳大利亞、巴西、阿
the year the Group’s new energy passenger vehicles have entered 聯酋等50多個國家和地區，勇奪多國新能源汽車銷more than 50 countries and regions including Japan Germany 量冠軍，技術和車型在國際上多次獲獎。本集團多Australia Brazil and the United Arab Emirates winning the first place 品牌車型不斷在國際亮相與上市，為全球消費者提in many countries in terms of the sales of new energy vehicles and 供卓越的綠色出行體驗。三月，本集團在墨西哥城being honored with multiple international awards for technologies and 舉行品牌發佈暨新車型上市發佈會，推出「漢EV」、model designs. As it debuts and launches vehicle models under its 「唐EV」、「元PLUS」（又名BYD ATTO 3）三款純電動
various brands in the international market the Group provides global 車型，開啓墨西哥乘用車市場的新格局。六月，本consumers with incomparable green travel experience. In March 集團在阿聯酋正式推出通過本地化和高溫測試的「元
the Group held a brand release and new model launch conference PLUS」，以確保用戶能夠獲得最佳的駕駛體驗，開in Mexico City and launched three pure electric models “Han EV” 啓中東乘用車市場全新篇章。九月，本集團攜六款“Tang EV” and “Yuan PLUS” (also known as “BYD ATTO 3”) opening 新能源汽車亮相德國慕尼黑車展，並宣佈「海豹」正up a new pattern in the Mexican passenger vehicles market. In June 式在歐洲上市。十月，本集團攜五款新能源車型及the Group launched “Yuan PLUS” in the United Arab Emirates which 核心技術亮相第47屆東京車展，成為歷史上首家參had passed localization and high-temperature tests to ensure that 加該車展的中國車企，並首次在海外展出亮相「仰望users can get the best driving experience opening a new chapter U8」。十一月，本集團攜五款重磅車型亮相第40屆in the Middle East passenger vehicles market. In September the 泰國國際汽車博覽會，除「元PLUS」、「海豚」、「海Group made its presence at the Munich Auto Show with six models 豹」三款在售車型外，亦首次帶來「騰勢N7」及「仰望of new energy vehicles and announced the availability of “Seal” in U8」，向媒體及廣大消費者展現本集團豐富多樣的產the European market. In October the Group unveiled five new energy 品矩陣和創新技術。
vehicle models and related core technologies at the 47th Tokyo Auto
Show being the first Chinese automaker attending the auto show
and unveiling “Yangwang U8” in the overseas market for the first
time. In November the Group made its presence at the 40th Thailand
International Motor Expo with five heavyweight models and displayed
“Denza N7” and “Yangwang U8” in addition to “Yuan PLUS” “Dolphin”
and “Seal” the three models that had been launched overseas
showcasing its diversified product matrix and innovative technologies
to the media and consumers.32 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
In addition adhering to the concept of win-win cooperation the Group 此外，本集團秉承合作共贏的理念，不斷加強與國continued to strengthen cooperation with international partners in the 際夥伴在汽車電動化發展方面的合作，積極推進本development of vehicle electrification made active efforts to achieve 地化生產進程，攜手眾多全球優質經銷商，為當地localized production and joined hands with many high-quality global 消費者提供優質的新能源汽車產品及服務，推動全dealers to provide local consumers with high-quality new energy 球汽車電動化轉型。三月，本集團首個海外乘用車vehicle products and services thereby promoting the transformation 生產基地在泰國奠基，為當地新能源汽車市場發展of global vehicle electrification. In March the foundation stone of the 注入新的活力。七月，本集團宣佈將在巴西設立大Group’s first overseas passenger vehicle production base was laid in 型生產基地綜合體，加速新能源汽車在當地的普及Thailand injecting new vitality into the development of the local new 與應用。九月，本集團與烏茲別克斯坦共和國投energy vehicle market. In July the Group announced that it would 資、工業與貿易部簽署投資協議，進一步為本集團establish a large-scale manufacturing base complex in Brazil to 與UZAVTOSANOAT JSC的合資企業在整車和零部
accelerate the popularization and application of new energy vehicles 件生產等方面提供有力支持。十二月，本集團宣佈in the country. In September the Group entered into the investment 將在匈牙利打造全球領先的新能源汽車整車製造基
agreement with the Ministry of Investment Industry and Trade of the 地，積極推動中匈之間的技術交流與創新，進一步Republic of Uzbekistan which provides strong support to the joint 深化歐洲市場佈局。
venture established in collaboration of the Group and UZAVTOSANOAT
JSC to boost production of vehicles and auto parts. In December the
Group announced that a world-class new energy vehicle production
base would be built in Hungary which demonstrated its active efforts
to enhance technological exchanges and innovation with Hungary and
to further develop the European market.In 2023 despite the challenges posed by intensified competition in 二零二三年，儘管面對汽車行業競爭加劇、新能源the automobile industry and the termination of new energy vehicle 汽車補貼取消的挑戰，本集團憑藉不斷提升的品牌subsidies satisfactory profitability continued in the new energy 力、快速增長的出海銷量、持續擴大的規模優勢和
passenger car business of the Group by virtue of the improving brand 強大的產業鏈成本控制能力，叠加上游原材料價格power the fast-growing overseas sales volume the expanding scale 回落，本集團新能源乘用車業務繼續保持良好的盈and the strong industry chain cost control capability coupled with the 利能力。
fall in prices of upstream raw materials.In the field of battery electric buses the Group carried out in- 純電動大巴領域，本集團持續深化市場佈局，以領depth market development launched quality products with leading 先技術不斷推出優質產品，並攜手眾多合作夥伴持technology and worked with various partners to continuously improve 續提升城市公交服務質量，推進全球公交電動化變the quality of urban public transportation services and lead the 革。期內，本集團積極開拓海外市場，助力出海大transformation of electrification of the global public transportation. 巴銷量持續增長。十月，本集團與烏茲別克斯坦首In October the Group signed an agreement with the municipal 都塔什干市政府簽訂協議，向當地提供2000台電動government of Tashkent the capital city of Uzbekistan to supply 2000 大巴，為當地市民提供安全、可靠、舒適、清潔的electric buses to the local government to provide local citizens with a 出行方式，以及營造更舒適的城市環境。十二月，safe reliable comfortable and clean means of transportation as well 本集團向墨西哥城交通政府部門交付了首批電動大
as to create a more comfortable urban environment. In December the 巴並投入運營，助力墨西哥城實現綠色交通轉型。
Group delivered the first batch of electric buses to the Mexico City
Transportation Government Department and those buses have been
put into operation helping Mexico City to realize green transportation
transformation.Annual Report 2023二零二三年年報33
Management Discussion and Analysis管理層討論與分析
In the field of urban rail transit the Group focused on solving urban 城市軌道交通領域，本集團圍繞解決城市微循環和microcirculation and last mile problems by steadily promoting the 最後一公里問題，穩步推進具有完全自主知識產權application of the medium-capacity “SkyRail” and low-capacity 及全產業鏈核心技術的中運量「雲軌」和低運量「雲
“SkyShuttle” with proprietary intellectual property rights providing 巴」的應用，為解決全球城市治理交通擁堵問題提供effective solutions to traffic jams in cities all over the world. For 有效方案。「雲巴」項目方面，五月，全球首條定位“SkyShuttle” project the SkyShuttle line of Dawang mountain in 休閑旅遊的湖南湘江新區大王山雲巴正式開通，有Xiangjiang New Area Hunan the world’s first SkyShuttle line for 效帶動區域旅遊產業升級，推動都市休閑旅遊產業leisure tourism was officially open to tourists in May effectively 融合發展。十一月，西安高新雲巴實現全線軌通，driving the upgrading of the regional tourism industry and promoting 該線路所經行區是西安高新區的核心區域，貫穿the integrated development of urban leisure tourism industry. In 區域內重要的交通走廊，覆蓋沿線主要的客流集散November the SkyShuttle line of Xi’an High-tech Zone was full- 點，有力助推低碳、智能的立體化交通出行方式，line connected. Offering accessibility to core areas of the zone the 為西安城市交通暢行提速。
line runs through important transportation corridors within the zone
covering the main passenger flow collector-distributor points along
its route. The line provides a strong boost for the low-carbon and
intelligent three-dimensional traffic travel mode contributing to the
development of transport sector of the city.34 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
In terms of external cooperation the Group continuously strengthened 對外合作方面，本集團持續加強與全球不同專業領cooperation with leading partners in different professional fields 域夥伴的合作。年內，本集團與全球領先的人工智around the world. During the year the Group deepened its 能計算製造商英偉達深化合作，雙方強強聯手、優cooperation with Nvidia the world’s leading artificial intelligence 勢互補，為廣大消費者打造更加安全且智能的汽computing manufacturer to jointly develop vehicles that are safer 車；本集團亦與濰柴動力簽署戰略合作協議，利用and intelligent for consumers. The Group also signed a strategic 雙方優勢在新能源領域建立更加全面、深度的戰略
cooperation agreement with Weichai Power to establish a more 合作關係，助力我國新能源商用車產業化發展邁向comprehensive and in-depth strategic cooperation relationship in the 新階段；此外，本集團與國家電投達成戰略合作協new energy field by utilizing the advantages of both parties thereby 議，雙方將以「優勢互補、互惠互利、開放合作、共helping China’s new energy commercial vehicle industrialization 同發展」的原則，在清潔能源、戶用儲能、綜合智慧development toward a new stage. Furthermore the Group entered 零碳電廠、科技研發、工業園區綠能替代及國際業
into a strategic cooperation agreement with State Power Investment 務等領域開展全方位深入合作，共同促進綠色低碳Corporation (“SIPC”) under which the two parties will carry out 能源發展。
all-round and in-depth cooperation in the fields of clean energy
household energy storage integrated intelligent zero-carbon
power plant technology research and development green energy
substitution in industrial parks and international business on thebasis of the principles of “mutual complementarity mutual benefitopen cooperation and common development” with a view to jointly
promoting the development of green and low-carbon energy.In terms of rechargeable batteries the Group continued to carry out in- 二次充電電池方面，本集團持續深耕，技術規模國depth development and maintained its leading position in technology 內領先，年內產品研發及產能提升進展順利，助力in China. Product R&D and capacity expansion went smoothly during 電池業務穩步發展。在保障自身動力電池需求的同the year which contributed to the steady development of the battery 時，本集團亦持續積極拓展外部客戶，加速市場化business. While meeting inner power battery demand the Group also 佈局。在儲能業務領域，本集團深耕儲能市場多continued to actively expand external customers and accelerate the 年，全面覆蓋電源側儲能、電網側儲能、工商業儲market-oriented deployment. Thanks to extensive efforts in energy 能、家庭儲能等應用領域，為全球客戶提供全場storage market in the past years the Group’s energy storage business 景、全價值、全生態的儲能解決方案，推動新型儲covered such areas of applications as power source energy storage 能產業實現跨越式發展。光伏業務方面，在「雙碳」grid energy storage industrial and commercial energy storage 目標的引領下，本集團加速新技術研發佈局，進一household energy storage providing global customers with full- 步構建綜合競爭優勢，為行業的快速發展做好準scenario full-value and ecosystem-based technology and product 備。
solutions and facilitating the new energy storage industry to achieve
leapfrog development. In respect of the photovoltaic business under
the guidance of the “carbon peaking and carbon neutrality” goal
the Group accelerated new technology R&D to further build up its
comprehensive competitive advantages and prepare for the rapid
development of the industry.Annual Report 2023二零二三年年報35
Management Discussion and Analysis管理層討論與分析
Handset Components and Assembly Business 手機部件及組裝業務
The Group is a global leading provider of high-tech and innovative 本集團是全球領先的高科技創新產品提供商，依託products providing customers around the world with one-stop product 電子信息技術、人工智能技術、5G和物聯網技術、
solutions relying on its core advantages in electronic information 熱管理技術、新材料技術、精密模具技術和數字化
AI 5G and Internet of Things thermal management new materials 製造技術等核心優勢，為全球客戶提供一站式產品precision molds and digital manufacturing technologies to provide 解決方案。本集團業務廣泛，涵蓋消費電子、新型customers around the globe with one-stop products solutions. With a 智能產品等多元化領域。依託於業界領先的研發和wide range of businesses the Group engages in diversified market 製造實力、高效規模化的生產經驗、多元的產品
segments such as consumer electronics and new intelligent products. 組合以及豐厚的客戶資源，本集團積極提升市場份With industry-leading R&D and manufacturing strength efficient mass 額，持續加快佈局具有增長潛力的新賽道，在複雜production experience diversified product portfolio and abundant 嚴峻的市場環境下，業務結構進一步優化，成本管customer base the Group actively increased its market share and 控能力提升，盈利能力顯著改善。
moved faster to extend its presence to new segments with potential
for growth. Amid the severe market environment the Group saw a
significant profitability improvement thanks to the further optimization
in business structure and cost control enhancement.With respect to the consumer electronics business the Group relying 消費電子業務方面，本集團憑藉領先的科研優勢及on top-notch R&D and solid product design and manufacturing 卓越的產品設計製造實力，持續深化與大客戶的戰capabilities continued to deepen its strategic cooperation with key 略合作，以行業領先的技術實力助力客戶產品的迭customers facilitated customers in the iteration and innovation of 代和創新，並不斷發掘業務增長潛力，在充滿挑戰their products based on its industry-leading technological capabilities 的市場環境下仍穩步擴大市場份額，鞏固自身行業and tapped into the potential for securing more businesses from 龍頭地位。本集團在海外大客戶核心產品的份額進customers. As a result the Group still achieved an increase in market 一步提升，新品類的結構件項目進展理想，實現業share further consolidating its leading position in the industry amid 務規模大幅增長。本集團亦持續聚焦為安卓市場的the challenging market. The Group experienced a further growth of its 旗艦產品提供全方位服務，智能手機市場需求於二market share in the core products of major overseas customers and 零二三年下半年有所回暖，本集團的安卓業務保持projects of new product categories were also in desired progress 穩健發展。
resulting in significant growth in business scale. The Group also
continued to focus on providing full range of services for flagship
products in the Android market. Group’s Android business maintained
steady growth as demands in the smartphone market picked up in the
second half of 2023.36 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
In terms of the new intelligent product business the Group actively 新型智能產品業務方面，本集團積極完善AI服務器enhanced its arrangements in AI servers and other high-growth 及其他高增長賽道的佈局，不斷深化與各板塊的行segments and continued to deepen its close cooperation with 業頭部客戶緊密合作，無人機、智能家居、遊戲硬industry-leading customers in various segments. The Group gained 件等業務板塊持續穩健發展，市場份額不斷提升。
a steady development of its businesses in such segments as drones
smart homes and gaming hardware with an increasing market share.In terms of material acquisitions BYD Electronics (International) 重大收購方面，本集團旗下控股子公司比亞迪電子Company Limited (“BYD Electronics”) a majority-owned subsidiary （國際）有限公司（「比亞迪電子」）於二零二三年十二月
of the Group completed the acquisition of the mobile electronics 二十九日完成收購全球最大電子製造服務及解決方
manufacturing business of Jabil Inc. one of the world’s largest 案提供商之一Jabil Inc.的移動電子製造業務。此項electronic manufacturing services and solutions providers on 29 收購將拓展比亞迪電子的客戶與產品邊界，拓寬智December 2023. The acquisition will expand the customer and 能手機零部件業務，助推產業升級。
product boundaries of BYD Electronics broaden the smartphone
components business and boost industrial upgrading.Annual Report 2023二零二三年年報37
Management Discussion and Analysis管理層討論與分析
PROSPECT AND STRATEGY 前景及策略
Looking ahead to 2024 the international economic environment will 展望二零二四年，國際經濟環境依舊錯綜複雜，在remain complex with global inflation on a downward trajectory under 供給側問題緩解和緊縮性貨幣政策的影響下，全球the impact of easing supply-side problems and tightening monetary 通脹呈下降趨勢，但經濟擴張的步伐依然緩慢，壓policy. However the pace of economic expansion will remain slow 制全球經濟增長的長期因素未得到根本解決，地緣since the long-term factors that have been weighing on global growth 政治帶來的經濟風險仍不可忽視。儘管外部環境依have not yet been resolved fundamentally and the economic risks 舊複雜，中國將以「穩中求進、以進促穩、先立後posed by geopolitics will remain material. Despite the complexity of 破」的基調，持續擴大釋放內需新潛能，加快發展the external environment China will continue to expand and unleash 新質生產力，推動經濟在平穩運行中實現高質量發the new potential of domestic demand accelerate the development of 展。三月，國務院常務會議審議通過了《推動大規模new quality productive forces and push the economy to achieve high 設備更新和消費品以舊換新行動方案》，會議指出quality development in a stable operation under the general principles 要堅持鼓勵先進、淘汰落後，積極開展汽車以舊換of “pursuing progress while ensuring stability promoting stability 新，亦利好新能源汽車行業。預期二零二四年中國through progress and establishing the new before abolishing the 新能源汽車市場將延續強勁增長勢頭，進入千萬輛old”. In March the executive meeting of the State Council considered 級時代，滲透率有望再突破。
and passed the Action Plan for the Promotion of the Large Scale
Equipment Renewal and Trade-in of Consumer Goods pointing out
that we should adhere to the principle of encouraging the advanced
and eliminating the backward and actively carrying out the trade-
in of automobiles which is also favorable to the new energy vehicle
industry. It is expected that China’s new energy vehicle market will
continue to grow strongly in 2024 and the production capacity will
exceed 10 million units with penetration rate hitting another record
high.Automobiles and Batteries Business 汽車及電池業務
The Group will adhere to its development strategy strengthen 本集團將堅定發展戰略，強化核心技術的自主可the independency and controllability of its core technologies and 控，持續提升產品競爭力；緊抓市場消費趨勢，堅continue to enhance the competitiveness of its products. Focusing 持以消費者需求為導向，持續推進多品牌矩陣建on market consumption trend and aligning with customer demands 設；加速業務出海進程，以新能源汽車領域的全面the Group will further improve its multi-brand matrix. The Group will 實力，為全球消費者提供卓越的新能源汽車體驗，accelerate the business “going global” to provide global consumers 助力中國汽車產業引領全球新能源汽車浪潮。
with excellent new energy vehicle experience with its comprehensive
strength in new energy vehicle area and to help China’s automobile
industry to lead the global new energy vehicle trend.38 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
In the field of new energy passenger vehicles the Group will continue 在新能源乘用車領域，本集團將繼續深化核心技術to deepen the R&D of core technologies for new energy vehicles 研發，夯實電動化上半場優勢，引領智能化下半場consolidate its existing electrification advantages and take the lead 發展。一月，本集團舉辦「2024比亞迪夢想日」發in the future development of intelligent automobiles. During the 佈會，首發智能化發展全新戰略「整車智能」並展示BYD Dream Day 2024 held in January 2024 the Group unveiled 智能駕駛、智能泊車、智能座艙等眾多技術成果，its Integrated Vehicle Intelligence strategy the new strategy of the 展現本集團的智能化實力和未來戰略佈局，引領行Group in relation to intelligent development and showcased its 業智能化發展新方向。本集團從「整車智能」理念出technological achievements such as intelligent driving intelligent 發，基於垂直整合、全棧自研的優勢以及電動化領parking and intelligent cockpit demonstrating the Group’s strengths 域的積累，發佈行業首個智電融合的智能化架構「璇in intelligentization and its strategic plans for the future and marking 璣」架構及首創雙循環多模態A「I 璇璣AI大模型」。「璇that the Group is leading the industry to pursue intelligent vehicles 璣」架構是整車智能的重要組成部分，以「一腦」、in a new direction. Based on the concept of “Integrated Vehicle 「兩端」、「三網」、「四鏈」實現了電動化與智能化的高Intelligence” and its advantages of vertical integration and full-stack 效融合，讓駕乘體驗更安全、更高效、更個性。「璇self-development and relying on its extensive experience in the 璣AI大模型」首次將人工智能應用到車輛全領域，擁electrification sector the Group released “XUANJI” Architecture the 有業界最龐大的數據底座、行業領先的樣本量和高first intelligent architecture in the industry and “XUANJI AI Large 算力，覆蓋整車三百多個場景，賦予整車智能持續Model” the first dual-cycle multi-modal AI. The “XUANJI” Architecture 進化的能力。
is an important part of the integrated vehicle intelligence realizing the
efficient integration of electrification and intelligence with “one brain”
“two ends” “three networks” and “four chains” making the drivingexperience safer more efficient and more personalized. The “XUANJIAI Large Model” marking the first application of AI technology across
all vehicular domains possesses the largest data foundation in the
industry leading sample sizes and high computing power covering
over 300 vehicular scenarios endowing the Integrated Vehicle
Intelligence system with the capacity for continuous adaptation.Annual Report 2023二零二三年年報39
Management Discussion and Analysis管理層討論與分析
The Group will continue to advance its multi-brand strategy constantly 本集團持續推進多品牌策略，不斷完善產品矩陣，refines its product matrix and initiates new product cycles. Several 開啓全新產品週期，多款新車型陸續釋放，以滿足vehicle models will be launched to satisfy the differentiated needs of 消費者差異化的購車需求。「比亞迪」品牌方面，二consumers. With respect to the “BYD” brand the “Qin PLUS Glory 月，「秦PLUS榮耀版」和「驅逐艦05榮耀版」正式上Edition” and “Destroyer 05 Glory Edition” were officially launched in 市，在煥新升級的同時實現「電比油低」，以遠超同February representing an upgrading of the previous editions and 級燃油車的高價值產品力，為用戶帶來新能源進階realizing “NEV cheaper than ICE”. These two editions provide users 用車體驗。「騰勢」品牌方面，智能豪華獵跑SUV「騰with advanced new energy vehicle experience with high-value product 勢N7」智能化全新升級，將「天神之眼」和「雲輦-A」competitiveness that are far superior to those of comparable fuel- （標準版）高效融合，使得「騰勢N7」的智能駕駛功能powered vehicles. For “Denza” brand the luxury shooting-brake SUV 更加舒適、安全。「仰望」品牌方面，純電性能超跑“Denza N7” was upgraded with a new level of intelligence efficiently 「仰望U9」二月正式上市，基於「易四方」、「雲輦-X」integrating the “God’s Eye” with the “DiSus-A” (standard version). 兩大核心技術，配合優秀的車身、氣動、智能化等This allows “Denza N7” to offer more comfortable and safer intelligent 行業頂尖技術，跳出傳統超跑的性能和體驗框架，driving. As for the “Yangwang” brand “Yangwang U9” the pure 用「可賽、可街、可玩」的用戶體驗，重新構建新時electric supercar was officially launched in February. Based on the 代的超跑價值標桿。「方程豹」品牌方面，首款硬派two core technologies of “e4 Platform” and “DiSus-X” as well as the SUV「豹5雲輦旗艦版」亦於一月正式開始交付，進一excellent bodywork aerodynamics intelligentization and other top 步為用戶帶來更完整舒適的硬派SUV駕乘體驗。
technologies in the industry “Yangwang U9” comes with unparalleled
performance and experience. Beyond the traditional supercar
performance and experience “Yangwang U9” offers the tastes of
“track racing urban driving and leisure off-road fun” and it redefines
the value benchmark of the supercars. The “FANGCHENGBAO” brand
delivered “Bao 5 DiSus Flagship Edition” in January which is the first
hardcore SUV under the brand and further brings a more complete
and comfortable hardcore SUV driving experience to users.40 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
In the field of overseas passenger vehicle business the Group 海外乘用車業務領域，本集團憑藉新能源領先優leveraged its leading strengths in the new energy vehicle sector to 勢，加速開拓海外市場，拓寬產品矩陣，繼續攜手accelerate its overseas markets expansion and expand its product 合作夥伴深耕海外各地市場，為全球消費者提供差matrix. The Group will continue to work together with its partners 異化、有競爭力的產品和優質的服務。一月，本集to develop overseas markets and provide global consumers with 團首條汽車運輸滾裝船首航成功，標誌着本集團海differentiated competitive products and quality services. In January 外市場拓展進入新階段。未來亦將有更多滾裝船陸the first Ro-Ro ships for automobile transportation of the Group 續投入運營，為本集團汽車出海提供充足的運力保successfully made its maiden voyage marking a new phase in the 障，也推動整個汽車出口行業的可持續發展。
overseas market expansion of the Group. In the future more Ro-
Ro ships will be put into operation providing ample transportation
capacity for the Group’s vehicles to go abroad and also promoting the
sustainable development of the entire automobile export industry.In the field of battery electric buses the Group will continue to 純電動大巴領域，本集團將繼續助力全球公交系統empower low-carbon upgrades in global public transportation 的綠色升級，為不同國家和地區帶來可持續、零污systems provide sustainable zero-pollution and intelligent public 染、智能化的公共交通解決方案，通過高效領先的transportation solutions to different countries and regions launch 創新技術，推出受市場認可的零排放高質量綠色環zero-emission high quality green and environmentally friendly public 保公共交通產品及服務，促進低碳社會快速普及健transportation products and services recognized by the market 康發展。
through efficient and leading-edge innovative technologies and
promote rapid and healthy development of a low-carbon society.Annual Report 2023二零二三年年報41
Management Discussion and Analysis管理層討論與分析
In the field of urban rail transit the Group will continue to innovate in 城市軌道交通方面，本集團將在綠色低碳、智能智the areas of green and low-carbon intelligent and smart integrated 慧、集成高效等方面不斷創新，將電動車產業鏈延and efficient development extend the electric vehicle industry 伸到軌道交通領域，着力推廣低碳環保的城市軌道chain to the field of rail transit focus on promoting low-carbon and 產品「- 雲軌」及「雲巴」，不斷開拓城市應用和國際合environmentally friendly urban rail transit products namely “SkyRail” 作，助力城市打造低碳交通，實現綠色智能交通高and “SkyShuttle” and continuously expand urban applications and 質量、可持續發展。
international cooperation to help cities build low-carbon transportation
and achieve high-quality and sustainable development of green and
intelligent transportation.In terms of rechargeable batteries the Group will continue to 二次充電電池方面，本集團將持續提升自主創新和enhance its independent innovation and R&D capabilities actively 研發能力，積極推進新技術應用及產品升級；進一promote the application of new technologies and product upgrades 步拓展客戶基礎和業務範圍，提升市場份額，推動further expand its customer base and business coverage increase 相關業務持續發展。光伏業務方面，本集團將積極market shares and facilitate sustainable development of relevant 把握市場發展脈絡，着力技術研發，集中資源投businesses. In terms of photovoltaics business the Group will actively 入，推動產品轉型升級，以優質的產品迎接行業爆grasp the development trend of the market focus on technology 發性增長機遇。
R&D concentrate resources promote product transformation and
upgrading to usher in the explosive growth opportunities of the
industry with high-quality products.Handset Components and Assembly Business 手機部件及組裝業務
The Group will proactively capture market opportunities continue 本集團將積極把握市場機遇，持續戰略佈局核心技to put efforts on the R&D of core technologies enhance its vertical 術研發及創新，加強垂直整合優勢，深化大客戶策integration advantage and deepen the strategy of developing 略。在保持傳統業務行業領導地位的同時，前瞻佈major customers. While maintaining our industry-leading position 局的新興業務的相關產品線將保持強勁發展勢頭，in traditional businesses the forward-looking deployment in the 帶動本集團業務及收入規模持續壯大。
relevant product lines of emerging businesses will maintain a strong
development momentum driving the continuous growth of the Group’s
business and revenue scale.42 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
In terms of consumer electronics business the Group will continue to 消費電子業務方面，本集團將繼續緊貼市場趨勢，closely follow market trends fully seize the development opportunities 充分把握AI、鈦金屬材料及其他新應用所帶來的發
brought by AI titanium metal materials and other new applications 展機遇，強化綜合競爭優勢，不斷擴大市場份額。
strengthen its comprehensive competitive advantage and continue to 本集團將持續深挖海外大客戶核心業務的潛力，進increase its market share. The Group will continue to deeply explore 一步提高核心產品的份額，積極開拓新品類領域，the core business potential of its major overseas customers further 帶動業務規模進一步壯大。此外，本集團繼續深化increase the core products share in those customers and actively 與客戶在安卓領域旗艦產品的戰略合作，配合客戶expand into new categories of products to further expand its business 的業務發展需求，持續助力客戶產品的迭代和升scale. In addition the Group will continue to deepen its strategic 級。同時，本集團於二零二三年十二月收購的移動cooperation with customers in Android flagship products support the 電子製造業務將帶來消費電子零部件業務規模的快
business development needs of customers and continuously assist in 速擴大和更多的長期發展機遇，並進一步提升市場the iteration and upgrade of customer products. At the same time the 份額及夯實自身行業龍頭地位。未來，本集團將繼mobile electronics manufacturing business acquired by the Group in 續大力拓展國內外市場，加強全球化佈局，為海內December 2023 will bring rapid expansion of the consumer electronics 外客戶提供更優質的全方位服務。
components business scale and more long-term development
opportunities further enhancing market share and consolidating its
leading position in the industry. In the future the Group will continue
to vigorously expand both domestic and international markets
strengthen global layout and provide higher-quality comprehensive
services to customers at home and abroad.In terms of new intelligent product business the Group is optimistic 新型智能產品業務方面，本集團看好AI服務器的市about the market prospects for AI servers and will continue to actively 場前景，將持續積極投入研發資源，加大佈局AI服invest in R&D resources expanding our focus on AI server-related 務器相關產品和解決方案。依託世界一流的研發實products and solutions. Leveraging world-class R&D capabilities 力、全球化佈局和垂直整合優勢，本集團將持續深a global layout and vertical integration advantages the Group will 化與各細分領域頂尖客戶的合作，智能家居、遊戲continue to deepen cooperation with top-tier clients in various niche 硬件、無人機等板塊將保持良好發展勢頭，帶動新fields. There will be a strong growth momentum in the fields of smart 型智能產品業務規模長期可持續發展。同時，本集home devices game hardware and drones driving the long-term 團將積極開拓其他具備增長潛力的新品類和新市
sustainability of the new intelligent product business scale. At the 場，培育新增長引擎。
same time the Group will actively explore other new categories and
markets with growth potential nurturing new engines for growth.Annual Report 2023二零二三年年報43
Management Discussion and Analysis管理層討論與分析
FINANCIAL REVIEW 財務回顧
Revenue and Profit Attributable to Owners of the Parent 營業額及母公司擁有人應佔溢利
Company
During the Year the Group’s revenue increased by 42.04% as 年內，營業額較二零二二年增加42.04%，主要是新compared to that of 2022 mainly attributable to the growth of new 能源汽車業務增加所致。母公司權益持有人應佔溢energy vehicle business. The profit attributable to equity holders of the 利較去年同期增加80.72%，主要為新能源汽車銷量parent company increased by 80.72% as compared to the previous 增長導致上升。
year mainly attributable to the increase in sales volume of new energy
vehicles.Segmental Information 分部資料
The following charts set out comparisons of the Group’s revenue by 下圖為本集團於截至二零二三年及二零二二年十二
product categories and locations of customers for the years ended 31 月三十一日止年度按產品類別和客戶所在地分析的
December 2023 and 2022: 營業額比較：
Revenue Breakdown by Product Categories Revenue Breakdown by Locations of Customers按產品類別劃分的營業額按客戶所在地劃分的營業額
26.60%21.57%
19.68%23.30%73.40%78.43%
2023202220232022
80.27%76.57%
2023202220232022
二零二三年二零二二年二零二三年二零二二年
Automobiles and related Mobile handset components PRC (including Hong Kong Overseas
products and other products assembly service and Macau and Taiwan) 境外
汽車、汽車相關產品及其他產品 other products 中國(包括港澳台地區)
手機部件、組裝及其他產品44 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
Gross Profit and Margin 毛利及邊際利潤
During the Year the Group’ s gross profit increased by approximately 本集團年內的毛利約上升 6 8 . 5 3 %至約人民幣
68.53% to approximately RMB121757 million. Gross profit margin 121757百萬元。毛利率由二零二二年約17.04%上
increased from approximately 17.04% in 2022 to approximately 升至年內約20.21%。毛利率較二零二二年上升，主
20.21% during the Year. The gross profit margin increased in 要是新能源汽車業務增加所致。
comparison with 2022 mainly attributable to the growth of new energy
vehicle business.Liquidity and Financial Resources 流動資金及財務資源
During the Year BYD recorded an operating cash inflow of 年內，比亞迪錄得經營現金流入約人民幣169725approximately RMB169725 mi l l ion compared wi th that of 百萬元，而二零二二年則錄得經營現金流入約人民approximately RMB140838 million in 2022. The cash inflow of the 幣140838百萬元。本集團期內現金流入主要是銷Group during the Period was mainly attributable to the increase in 售商品，提供勞務收到的現金增加所致。於二零二cash generated from the sales of goods and provision of services. 三年十二月三十一日的總借貸包括全部銀行貸款，Total borrowings as at 31 December 2023 including all bank loans 約為人民幣36545百萬元，而二零二二年十二月三were approximately RMB36545 million compared with approximately 十一日的總借貸包括銀行貸款及債券，為約人民幣RMB18517 million of total borrowings as at 31 December 2022 18517百萬元。銀行貸款的到期還款期限分佈在五including all bank loans and bonds. The maturity profile of the bank 年期間，分別須於一年期內償還約人民幣24570百loans thereof spreads over a period of five years with approximately 萬元，於第二至五年期內償還約人民幣11975百萬RMB24570 million repayable within one year and approximately 元。本集團擁有足夠的流動性以滿足日常流動資金RMB11975 million repayable within the second to the fifth years. The 管理及資本開支需求，並控制內部經營現金流量。
Group had adequate liquidity to meet its daily liquidity management
and capital expenditure requirements and control internal operating
cash flows.For the year ended 31 December 2023 turnover period of receivables 截至二零二三年十二月三十一日止年度，應收類款(including trade receivables contract assets and receivables 項（含應收賬款、合同資產、應收款項融資）週轉期
financing) was approximately 43 days as compared to approximately 約為43天，二零二二年同期約為53天，變化的主要
53 days for the same period in 2022 which was mainly due to the 原因為應收賬款平均餘額的同期增幅比營業收入的
fact that the increase of trade receivables balance in average was 同期增幅小所致。截至二零二三年十二月三十一日lower than that of sales revenue over the same period. The inventory 止年度，存貨週轉期約為64天，二零二二年同期約turnover period was approximately 64 days for the year ended 31 為64天，較上期基本無變化。
December 2023 as compared to approximately 64 days for the same
period in 2022 which remained basically the same as compared to
the previous period.Please refer to notes V.24 33 and 35 to the financial statements for 有關財務資源的詳情，請參閱財務報表附註五、
details of financial resources. 24、33、35。Annual Report 2023二零二三年年報45
Management Discussion and Analysis管理層討論與分析
Capital Structure 資本架構
The Group’s financial division is responsible for the Group’s financial 本集團財務處的職責是負責本集團的財務風險管理
risk management which operates according to policies implemented 工作，並根據高級管理層實行批核的政策運作。於and approved by senior management of the Group. As at 31 二零二三年十二月三十一日，借貸主要以人民幣結December 2023 borrowings were primarily settled in RMB while 算，而其現金及現金等價物則主要以人民幣及美元cash and cash equivalents were primarily held in RMB and US dollar. 持有。本集團計劃於期內維持適當的股本及債務組The Group plans to maintain an appropriate mix of equity and debt 合，以確保具備有效的資本架構。於二零二三年十to ensure an efficient capital structure during the Period. As at 31 二月三十一日，本集團未償還貸款均為人民幣貸December 2023 all of the Group’s outstanding loans were RMB loans 款，且該等未償還貸款中約有67%（二零二二年：and approximately 67% (2022: 43%) of such outstanding loans were 43%）按固定息率計息，而餘下部分則按浮動息率計at fixed interest rates with the remaining at floating interest rates. 息。
The Group monitors capital using a gearing ratio which is net debt 本集團透過使用資本負債比率（即負債淨額除以權divided by equity. The Group’s policy is to maintain the gearing ratio 益）監管其資本。本集團的政策為盡量維持低資本as low as possible. Net debt includes interest-bearing bank and other 負債比率。負債淨額包括計息銀行及其他借款並扣borrowings less cash and cash equivalents. Equity represents equity 除現金及現金等價物。權益為母公司擁有人應佔權attributable to owners of the parent. Therefore the gearing ratios 益。因此，本集團於二零二三年十二月三十一日及of the Group was -44% and -26% as at 31 December 2023 and 31 二零二二年十二月三十一日的資本負債比率分別
December 2022 respectively. 為-44%及-26%。
As at 31 December 2023 cash and bank balances with carrying 於二零二三年十二月三十一日，賬面價值為人民幣0amount of RMB0 (31 December 2022: RMB880000) were subject 千元（二零二一年十二月三十一日：人民幣880千元）
to restrictions as deposits of bank acceptance bills; cash and bank 的貨幣資金作為銀行承兌匯票出票保證金而受限，balances with carrying amount of RMB124124000 (31 December 另有人民幣124124千元（二零二二年十二月三十一
2022: RMB166291000) were subject to restrictions as guarantee 日：人民幣166291千元）的貨幣資金作為信用保證
deposits bid bond and others. 金、投標保證金及其他受限性質而受限。
Exposure to Foreign Exchange Risk 外匯風險
Most of the Group’s income and expenditure are settled in RMB and 本集團大部分收入及開支均以人民幣及美元結算。
US dollars. During the Period the Group did not experience any 期內，本集團並無因貨幣匯率的波動而令其營運或significant difficulties in or impacts on its operations or liquidity due 流動資金出現任何重大困難或影響。董事相信，本to fluctuations in currency exchange rates. The Directors believe that 集團將有充足外幣應付其外匯需要，並將採取切實the Group has sufficient foreign exchange to meet its own foreign 有效的方法防範外匯匯兌風險。
exchange requirements and will adopt practical measures to prevent
exposure to exchange rate risk.46 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
Employment Training and Development 僱用、培訓及發展
As at 31 December 2023 the Group had approximately 703.5 於二零二三年十二月三十一日，本集團僱用約70.35thousand employees. During the Period total staff cost accounted 萬名僱員。期內，員工成本總額佔本集團營業額約for approximately 14.84% of the Group’s turnover. Employees’ 14.84%。本集團按僱員的表現、資歷及當時的行remuneration was determined based on performance qualifications 業慣例釐定給予僱員的報酬，而酬金政策會定期檢and prevailing industry practices with compensation policies 討。根據年度工作表現評核，僱員或會獲發花紅及being reviewed on a regular basis. Bonuses were also awarded to 獎金。發放獎勵乃作為個人推動力的鼓勵。
employees based on their annual performance evaluation. Incentives
were offered to encourage personal motivation.In 2023 BYD embraces the core talent development philosophy of 二零二三年，比亞迪以「用優秀培養優秀，讓成功複“cultivating excellence with excellence allowing success to replicate 製成功」的核心人才發展理念搭建了比亞迪特色人success” which has constructed a distinctive talent training system 才培養體系，致力於打造多層次、全領域的學習型that is committed to building a multi-level and comprehensive learning 發展組織，建立線上線下多重培訓渠道，創新培訓and development organization establishing multi-training channels 形式，通過理論面授、案例研討、技能比武、實戰online and offline innovating training forms and continuously elevating 模擬等多種方式，持續提升公司人才競爭力，夯實the Company’s competitive edge in talent and strengthening its 人才厚度。為萃取總結比亞迪自成立以來的寶貴經talent pool by face-to-face theoretical training case studies skill 驗，全集團組織案例開發與運用專項活動，共收穫competitions and practical simulations. To extract and summarize the 百餘篇優秀案例，覆蓋技術、營銷、運營、綜合四valuable experience accumulated by BYD since its establishment 大領域，真正實現隱性經驗可視化、優秀經驗複製the Group organized a special event for case development and 化。基於E-learning在線學習平台的不斷優化，二零application gathering over a hundred outstanding cases covering 二三年，比亞迪累計內生課程1592門，平台課程資technology marketing operations and miscellaneous aiming to 源已過8381門。全年線上線下培訓課時達4881萬achieve the visualization of implicit experiences and the replication 學時，人均69課時，員工崗位培訓覆蓋率100%。二of excellent experiences. Based on the continuous optimization 零二三年，培訓成本累計投入超1億元。
of the E-learning online learning platform in 2023 BYD has
internally developed a total of 1592 courses and the platform’s
course resources have exceeded 8381. The total annual training
encompassing both online and offline formats reached an impressive
48.81 million class hours averaging 69 class hours per person with a
100% on-the-job training coverage rate for employees. In 2023 BYD’s
accumulated investment in talent costs exceeded RMB100 million.New employee training: To help new employees smoothly 新員工培訓：為全方位幫助新員工順利融入新環
integrate into the new environment and quickly become competent 境、快速勝任崗位，設置涵蓋公司管理制度、企in their positions a range of training courses is set up covering 業文化、產品知識、專業技能、吃穿住行等培訓
the Company’s management systems corporate culture product 課程。在基層新員工層面，比亞迪聚焦新人的企業knowledge professional skills food clothing housing and transport. 融入、安全素養、上崗作業等內容，在保障企業制At the grassroots level of new employees BYD focuses on the 度、企業文化輸入的同時，開展崗位技能、安全教integration of newcomers into the Company safety literacy and job- 育、消防安全培訓。
related operations. While ensuring the input of corporate systems
and corporate culture trainings in relation to on-the-job skills safety
education and fire safety are carried out.Annual Report 2023二零二三年年報47
Management Discussion and Analysis管理層討論與分析
Cultivation of management: To enhance the comprehensive 管理層培養：為提升各層級管理人員綜合能力，比capabilities of management at all levels BYD has established a “1+X” 亞迪針對管理人員搭建「1+X」課程體系，在集團引領course system for management personnel. While the Group sets the 方向的同時，開發與崗位貼合的專有課程。同時，direction it develops proprietary courses that are closely aligned with 通過對案例的復盤、萃取，向優秀對標，向標桿看job positions. At the same time by reviewing and extracting case 齊，實現優秀經驗的傳承與複製，持續推進對各層studies benchmarking against excellence and aligning with best 幹部的高效賦能。
practices it achieves the inheritance and replication of outstanding
experiences continuously advancing the efficient empowerment of
cadres at all levels.Cultivation of postdoctoral fellows: To continuously provide 博士後培養：為持續輸送、儲備公司技術創新的主
and reserve the main force and leading talents for the Company’s 力軍與領軍人才，比亞迪設立博士後工作站，聯合technological innovation BYD has established a postdoctoral 全國頂尖的一流院校、一流學科、一流流動站、一
workstation. Leveraging on its strengths in scientific and technological 流導師，依靠比亞迪的科技創新實力和多產業的競innovation and its competitive edge across multiple industries BYD 爭優勢，培養比亞迪一流博士後。現已在深圳、重has partnered with top universities academic disciplines mobile 慶、西安形成「三站三基地」的地域格局規模。
stations and tutors in China aiming to cultivate first-class postdoctoral
fellows of BYD. Currently a “three stations and three bases” regional
landscape has been formed in Shenzhen Chongqing and Xi’an.Specialized Talent: To enhance the innovation capabilities teamwork 專項人才：為提升企業內部員工的創新能力、團隊
skills professional qualities and management competencies of internal 協作能力、專業素養和管理素質，提高企業的綜合employees thereby improving the Company’s overall competitiveness 競爭力，比亞迪針對銷售人員、品質管理人員、採BYD has initiated specialized training projects for various types of 購系統人員、技術人才等類型人員開展專項培養項
personnel including sales personnel quality management personnel 目。例如，為應對社會技工荒，比亞迪通過搭建技procurement system personnel and technical talents. For instance 能人才發展通道，完善晉升體系，建立職業技能人in response to the shortage of skilled workers in society BYD has 才評價體系、技能人才職級體系、技能人才薪酬體
taken significant steps to cultivate a skilled workforce by establishing 系；同時完善技能人才培訓、考核、任用與待遇相
a development channel specifically for skilled talents which includes 結合的激勵機制，樹立崇尚技能、重視技能、勉勵enhancing the promotion system and setting up a comprehensive 技工不斷學習進步的文化氛圍。比亞迪以師徒制解evaluation system for professional and skilled talents as well as 決育人問題，以建設技能通道解決留人問題，最終creating a rank system and salary structure tailored to skilled workers. 建立了從「技能培養 – 內培出師 – 獨立頂崗 – 技能提
Furthermore BYD has refined its incentive mechanisms to better 升」的技能人才內生供應鏈。
integrate training assessment appointment and compensation for
skilled talents aiming to foster a culture that admires skillfulness
values the mastering of skills and encourages skilled workers to
engage in continuous learning and advancement. BYD addresses
the issue of nurturing talents through a mentorship system and solves
retention problems by establishing skill pathways as per which it has
ultimately created an internal talent supply chain that progresses from“skill cultivation – internal apprenticeship – independent job placement– skill enhancement”.48 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
Foreign talents: To support the development of the Company’s 海外人才：為助力公司海外業務的發展，搭建規範overseas business and to establish a standardized international 的國際人才培養體系，開設面向海外員工及出海員talent training system BYD has set up training courses for overseas 工的培訓課程。航海計劃從出海員工常見問題、合employees and those who will be working abroad. The voyage 法合規兩個角度出發，涵蓋了出境基礎知識、合規program starts from the common issues of employees going abroad 管理、企業文化、跨文化管理等多維度課程。同時and legal compliance covering multi-dimensional courses such 為加強境外入職員工對公司的了解、認同和崗位榮
as basic knowledge of going abroad compliance management 譽感，面向海外入職新員工設置「Flying Wings」系列corporate culture and cross-culture management. At the same time to 培訓。
strengthen the understanding identification and job honor of overseas
new employees a series of training named “Flying Wings” is set up for
new overseas employees.Furthermore the Group had also adopted the 2022 Employee Share 此外，本集團亦已採納二零二二年員工持股計劃Ownership Plan (the “Employee Share Ownership Plan”) and the （「員工持股計劃」）及比亞迪半導體股份有限公司股權
Share Option Incentive Scheme of BYD Semiconductor Company 期權激勵計劃（「子公司股權期權計劃」），均已獲本公Limited (the “Subsidiary Share Option Scheme”) which were 司股東分別於二零二二年五月二十七日及二零二一
approved by the Shareholders at the extraordinary general meeting of 年六月十六日舉行的臨時股東大會上批准。有關員the Company held on 27 May 2022 and 16 June 2021 respectively. 工持股計劃及子公司股權期權計劃的進一步詳情，For further details of the Employee Share Ownership Plan and the 請分別參閱本報告以下「二零二二年員工持股計劃」
Subsidiary Share Option Scheme please refer to the sections headed 及「子公司股權期權計劃」章節。
“2022 Employee Share Ownership Plan” and “Subsidiary Share OptionScheme” below of this report respectively.Annual Report 2023二零二三年年報49
Management Discussion and Analysis管理層討論與分析
2022 EMPLOYEE SHARE OWNERSHIP PLAN 二零二二年員工持股計劃
Reference is made to the announcement dated 22 April 2022 and the 茲提述本公司日期為二零二二年四月二十二日的公
circular dated 5 May 2022 (the “Circular”) of the Company in relation 告及日期為二零二二年五月五日的通函（「該通函」），to among others the adoption of the Employee Share Ownership 內容有關（其中包括）採納員工持股計劃（草案）。本公Plan (draft). The adoption was approved by the Shareholders at the 司股東於本公司於二零二二年五月二十七日舉行的
extraordinary general meeting of the Company held on 27 May 2022. 臨時股東大會上批准採納。
The Employee Share Ownership Plan is a discretionary employee 本次員工持股計劃為本公司的一項酌情員工持股計
share ownership plan of the Company and does not involve the grant 劃，並不涉及授出發行新股份或本公司任何其他新of options to issue new Shares or any other new securities of the 證券的期權。
Company.The Employee Share Ownership Plan is beneficial for the Company 本次員工持股計劃有利於本公司建立和完善利益共
to establish and improve the benefit sharing mechanism enhance 享機制，提高員工凝聚力和本公司競爭力，實現企the cohesion of employees and the competitiveness of the Company 業的長遠可持續發展。參與對象包括本公司的職工realizing its long-term sustainable development. Participants include 代表監事、高級管理人員以及比亞迪集團的中層管
employee representative supervisors senior management of the 理人員、核心骨幹員工，不包括本公司董事及最Company middle level management and core backbone employees 高行政人員及其聯繫人，參與本員工持股計劃的總of BYD Group (other than the Directors and chief executives of 人數不超過12000人，單個員工所持員工持股計劃the Company and their respective associates). The total number 份額所對應的股票總數累計不超過公司股本總額的
of participants of the Employee Share Ownership Plan shall not 1%。本次員工持股計劃通過非交易過戶等法律法規exceed 12000 persons. The entitlement of each participant under 允許的方式受讓公司回購的公司A股股票，受讓價格the Employee Share Ownership Plan should not exceed 1% of total 為人民幣0元╱股，參與對象無需出資。
share capital of the Company. The Employee Share Ownership Plan
transfers the A Shares of the Company repurchased through non-
trading transfer and other methods permitted by laws and regulations.The transfer price is RMB0 per share and the participants do not
need to make payments.
5511024 shares held by the designated securities repurchase 公司回購專用證券賬戶所持有的5511024股公司股
account of the Company have been granted and the closing price 票已全部完成授予，緊接授予日前一交易日公司Aof the Company’s A shares was RMB323.00 per share on the trading 股股票收盤價為人民幣323.00元╱股。於本報告日day immediately preceding the grant date. The aforesaid number of 期，上述過戶股票數量約佔公司已發行的總股本的shares transferred accounted for approximately 0.189% of the total 比例為0.189%。
issued share capital of the Company as at the date of this report.The first lock-up period of the Employee Share Ownership Plan had 本次員工持股計劃第一個鎖定期已於二零二三年七
expired on 15 July 2023 and 30% of the total number of shares of 月十五日屆滿，已解鎖比例為本次員工持股計劃the Company maintained under the Employee Share Ownership Plan 持有公司股票總數的30%，對應的標的股票數量為were vested which corresponds to 1653307 A shares representing 1653307股A股股票，佔本公司於本報告日期總股
0.057% of the total share capital of the Company of 2911142855 本2911142855股的0.057%。於解鎖日前一交易
shares as at the date of this report. The closing price of the Company’s 日，本公司A股股票的收盤價為人民幣264.41元╱A shares was RMB264.41 per share on the trading day immediately 股。
preceding the vesting date.The term of the Employee Share Ownership Plan shall be 48 months 本次員工持股計劃的存續期為48個月，自本員工from the date on which the Employee Share Ownership Plan is 持股計劃經股東大會審議通過且公司公告最後一筆
considered and approved at the general meeting and the Company 標的股票過戶至本員工持股計劃名下之日起算。因announces that the last batch of the underlying shares is transferred 此，截至二零二三年十二月三十一日，員工持股計to the Employee Share Ownership Plan. Thus the remaining life of 劃剩餘期限約為31個月。
the Employee Share Ownership Plan is about 31 months as at 31
December 2023.50 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
For details of the Employee Share Ownership Plan and repurchase of 有關本次員工持股計劃及回購本公司A股股份具體內
A Shares of the Company please refer to the table below and note XIII 容詳見下方表格以及本報告財務報表附註十三。
to the financial statements in this report.List out below are the details of movement of the A shares under the 下文載列於本報告期內及直至本報告日期本次員工
Employee Share Ownership Plan during the Reporting Period and up 持股計劃項下A股股票的變動詳情：
to the date of this report:
No. of
No. of unvested Closing price No. of No. of
A shares A shares No. of of A shares A shares No. of A shares
available for granted A shares immediately cancelled A shares available for
grant/ during the vested during preceding the during the lapsed during grant/ungranted
ungranted as at Reporting the Reporting vesting date Reporting the Reporting as at 31 December
1 January 2023 Period Period (RMB) Period Period 2023
於於二零二三年二零二三年一月一日緊接解鎖日期前十二月三十一日
可供授予╱ 於本報告期內 於本報告期內 的A股股票 於本報告期內 於本報告期內 可供授予的A股
未授予A股 授予的未解鎖 解鎖的A股 收盤價 註銷的A股 失效的A股 股票╱未授予
Type of participants 參與對象類別 股票數目 A股股票數目 股票數目 （人民幣元） 股票數目 股票數目 A股股票數目
Employee representative 公司的職工代表 0 0 1653307 264.41 0 0 0
supervisors and senior 監事、高級管 (Note 2) (Note 3) (Note 3) (Note 4) (Note 4) (Note 2)
management of the 理人員；比亞 （附註2） （附註3） （附註3） （附註4） （附註4） （附註2）
Company; middle level 迪集團的中層
management and core 管理人員、核
backbone employees 心骨幹員工
of BYD Group (Note 1) （附註1）
Notes: 註：
(1) The participants of the Employee Share Ownership Plan do not (1) 本次員工持股計劃參與對象不含董事、最高行
include Directors chief executives or substantial Shareholders 政人員或主要股東又或其各自的聯繫人；亦不
or their respective associates; or any related entities or service 含本公司關連實體參與者或服務提供者。
providers of the Company.
(2) All the 5511024 repurchased A shares were granted on 15 (2) 5511024股回購A股股票已於二零二二年七
July 2022. The closing price of the Company’s A shares was 月十五日全部授予。緊接授予日前一交易日本RMB323.00 per share on the trading day immediately preceding 公司A股股票收盤價為人民幣323.00元╱股。
the grant date. The fair value of the granted shares as at the date 於授予日期，授予股票的公允價值為人民幣of the grant was RMB1863773206.56. The A Shares under 1863773206.56元。本次員工持股計劃持有the Employee Share Ownership Plan will be unlocked in three 的本公司A股股票分三批解鎖：
tranches:
(a) The f i rs t unlocking per iod shal l be of 12 months (a) 第一個解鎖期，自本公司公告最後一筆commencing from the date of the last transfer of A Shares A股股票過戶至本次員工持股計劃名下
by the Plan and the relevant announcement by the 之日起滿12個月，解鎖數量為本次員工Company with the number of shares unlocked being 30% 持股計劃所持有A股股票總數的30%；
of the total number of A Shares under the Employee Share
Ownership Plan;Annual Report 2023二零二三年年報51
Management Discussion and Analysis管理層討論與分析
(b) The second unlocking period shall be of 24 months (b) 第二個解鎖期，自本公司公告最後一筆commencing from the date of the last transfer of A Shares A股股票過戶至本員工持股計劃名下之
by the Plan and the relevant announcement by the 日起算滿24個月，解鎖數量為本次員工Company with the number of shares unlocked being 30% 持股計劃所持有A股股票總數的30%；
of the total number of A Shares under the Employee Share
Ownership Plan;
(c) The third unlocking period shal l be of 36 months (c) 第三個解鎖期，自本公司公告最後一筆commencing from the date of the last transfer of A Shares A股股票過戶至本次員工持股計劃名下
by the Plan and the relevant announcement by the 之日起算滿36個月，解鎖數量為本員工Company and the number of shares unlocked being 40% 持股計劃所持有A股股票總數的40%；
of the total number of A Shares under the Employee Share
Ownership Plan;
(d) The vesting of the shares granted is subject to the (d) 授予股票需滿足相關具體條件才可解
fulfillment of relevant specific conditions. For details of the 鎖。關於授予股票解鎖的具體標準，請specific conditions of the vesting of shares granted please 參閱該通函；
refer to the Circular;(e) The company performance indicator for the first unlocking （e) 本次員工持股計劃第一個解鎖期解鎖公of shares is the growth rate of operating income for the 司層面的業績指標為以二零二一年營業
year of 2022 compared with the year of 2021 should reach 收入為基數，二零二二年的營業收入at least 30% and the individual performance indicator 增長率不低於30%。個人層面的考核指should reach (1) “to be improved” to be 80% unlocked (2) 標為：(1)業績考核為待改進的，個人“qualified” to be 100% unlocked. 層面解鎖比例為80%；（2）業績考核為
合格及以上的，個人層面解鎖比例為
100%。
(3) During the Reporting Period the first lock-up period of the (3) 於本報告期內，本次員工持股計劃第一個鎖
Employee Share Ownership Plan had expired on 15 July 2023 定期已於二零二三年七月十五日屆滿，已解and 30% of the total number of shares of the Company maintained 鎖比例為本次員工持股計劃持有公司股票總
under the Employee Share Ownership Plan were vested which 數的30%，對應的標的股票數量為1653307corresponds to 1653307 A shares representing 0.057% of the 股A股股票，佔本公司與於本報告日期總股本total share capital of the Company of 2911142855 shares as 2911142855股的0.057%。於解鎖日前一交易at the date of this report. The closing price of the Company’s A 日，本公司A股股票的收盤價為人民幣264.41shares was RMB264.41 per share on the trading day immediately 元╱股。
preceding the vesting date.
(4) No A shares were cancelled or lapsed during the Reporting Period. (4) 於本報告期內，並無任何A股股票被註銷或失效。
SUBSIDIARY SHARE OPTION SCHEME 子公司股權期權計劃
References are made to the announcement dated 11 May 2021 and 茲提述本公司日期為二零二一年五月十一日的公circular (the “Circular”) dated 31 May 2021 of the Company in relation 告及日期為二零二一年五月三十一日的通函（「該通to among others the proposed adoption of the Subsidiary Share 函」），內容有關（其中包括）建議採納子公司股權期權Option Scheme. The adoption of the Subsidiary Share Option Scheme 計劃。股東於本公司於二零二一年六月十六日舉行was approved by the Shareholders at the extraordinary general 的臨時股東大會上批准採納子公司股權期權計劃。
meeting of the Company held on 16 June 2021. The Subsidiary Share 該子公司股權期權計劃不構成上市規則十七章下規
Option Scheme is not a share schemes of a principal subsidiary of the 定的主要子公司股權期權計劃。
Company under Chapter 17 of the Listing Rules.The purpose of the Subsidiary Share Option Scheme is to among 子公司股權期權計劃旨在（其中包括）進一步建立及
others further establish and improve the incentive mechanism of BYD 完善比亞迪半導體的激勵機制、挽留及激勵人才以
Semiconductor retain and motivate talents and allow all participants 及允許全體參與方聚焦比亞迪半導體的長期發展並
to focus on the long-term development of BYD Semiconductor and 共同促進其可持續發展。
jointly promote its sustainable development.52 BYD Company Limited比亞迪股份有限公司
Management Discussion and Analysis管理層討論與分析
There are 36 participants in the Subsidiary Share Option Scheme 子公司股權期權計劃有36名參與者，包括比亞迪半including directors (excluding independent non-executive directors) 導體董事（不包括獨立非執行董事）、高級管理層及
senior management and key personnel (excluding supervisors) of BYD 關鍵人員（不包括監事）。子公司股權期權計劃乃僅Semiconductor. The Subsidiary Share Option Scheme is tailored to be 為上述36名參與者量身定制的一次性激勵安排。概a one-off incentive arrangement for the aforesaid 36 participants only. 無子公司股權期權計劃的36名激勵參與者乃本公司
None of the 36 incentive participants of the Subsidiary Share Option 層面的關連人士。有關上述參與者的身份及職位，Scheme is a connected person at the Company level. For details of 請參閱該通函。
the identity and positions of the aforesaid participants please refer to
the Circular.The number of shares of BYD Semiconductor in respect of which the 涉 及 股 權 期 權 的 比 亞 迪 半 導 體 股 份 數 目 為share options involved is 33088235 shares (representing 7.353% 33088235股（於本報告日期佔比亞迪半導體註冊of the registered share capital of BYD Semiconductor as at the date 股本的7.353%）。子公司股權期權計劃項下涉及的of this report) and the cumulative total number of shares of BYD 比亞迪半導體累計股份總數及比亞迪半導體所有其
Semiconductor involved under the Subsidiary Share Option Scheme 他計劃不應超過比亞迪半導體於二零二一年六月十and all other schemes of BYD Semiconductor shall not exceed 10% 六日（本公司臨時股東大會批准子公司股權期權計of the total share capital of BYD Semiconductor in issue on 16 June 劃之日）已發行股本總額的10%。於本報告日期，
2021 which is the date of approval of the Subsidiary Share Option 根據子公司股權期權計劃的條款及條件按行權價格
Scheme by the extraordinary general meeting of the Company. As 每股人民幣4.54元授予比亞迪半導體36名僱員合共at the date of this report an aggregate of 33088235 share options 33088235份股權期權（即子公司股權期權計劃項下representing all the share options which could be granted under the 可授予的所有股權期權）。截至二零二三年十二月三Subsidiary Share Option Scheme were granted to 36 employees 十一日，已授予的33088235份股權期權中，由於of BYD Semiconductor pursuant to the terms and conditions of the 僱員辭任導致314627份股權期權已失效並註銷。
Subsidiary Share Option Scheme at the exercise price of RMB4.54
per share. As of 31 December 2023 314627 share options out of the
33088235 share options had been lapsed and cancelled as a result
of the resignation of an employee.The validity period of the Subsidiary Share Option Scheme shall 子公司股權期權計劃的有效期將自股權期權授予日
commence from the grant date of the share options and end on 起至激勵對象獲授的股權期權全部行權或註銷之日
the date on which all the share options granted to the incentive 止，並於所有已行使或註銷的股權期權授予激勵participants have been exercised or cancelled which shall not be 參與者當日結束，不應超過十年。根據子公司股longer than 10 years. The share options granted under the Subsidiary 權期權計劃授予的股權期權應分三批行使，相應等Share Option Scheme shall be exercised in three tranches and the 待期應自授予日期起分別為24個月、36個月及48
corresponding vesting periods shall be 24 months 36 months and 48 個月。截至二零二三年十二月三十一日止，子公司months respectively from the grant date. As at 31 December 2023 股權期權計劃第一個行權期的可行權股權期權為
there were 9826411 exercisable share options for the first exercise 9826411份，其中6218756份股權期權獲行權，剩period of the Subsidiary Share Option Scheme of which 6218756 餘3607655份股權期權因逾期未行權已註銷。有關share options had been exercised and the remaining 3607655 share 行權期、作為股權期權行權條件的業績考核目標的
options had been cancelled as they were not exercised during the 詳情及子公司股權期權計劃的進一步詳情，請參閱exercise period. For details of the exercise period and performance 該通函及本報告的財務報表附註十三。
targets (as conditions of the exercise of the share options) and further
details of the Subsidiary Share Option Scheme please refer to the
Circular and note XIII to the financial statements in this report.Annual Report 2023二零二三年年報53
Management Discussion and Analysis管理層討論與分析
SHARE CAPITAL 股本
As at 31 December 2023 the share capital of the Company was as 於二零二三年十二月三十一日，本公司的股本如follows: 下：
Number of Approximate
shares issued percentage (%)
已發行股份數目約佔百分比(%)
A shares A股 1813142855 62.28%
H shares H股 1098000000 37.72%
Total 總數 2911142855 100.00%
PURCHASE SALE OR REDEMPTION OF SHARES 購買、出售或贖回股份
During the Reporting Period neither the Company nor any of its 於本報告期內，本公司或其任何附屬公司概無其他subsidiaries purchased or sold any of the Company’s shares. 購買或出售任何本公司股份。
SIGNIFICANT INVESTMENT HELD AND MATERIAL 所持重大投資及重大收購及出售附屬公司、
ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES 聯營公司及合營公司
ASSOCIATES AND JOINT VENTURES
References are made to the announcements of the Company dated 茲提述本公司日期為二零二三年八月二十八日、九
28 August 2023 27 September 2023 and 29 December 2023 in 月二十七日及十二月二十九的公告，內容有關本公
relation to the acquisition framework agreement and formal agreement 司控股子公司比亞迪電子（國際）有限公司（以下簡稱entered into by BYD Electronic (International) Company Limited 「比亞迪電子」）與Jabil Inc.旗下子公司Jabil Circuit(“BE”) a majority-owned subsidiary of the Company and Jabil Circuit (Singapore) Pte. Ltd（. 以下簡稱「捷普新加坡」或「賣(Singapore) Pte. Ltd. (“Jabil Singapore” or the “Seller”) a subsidiary 方」）就收購事項而言訂立收購框架協議及正式協
of Jabil Inc. in relation to the acquisition. BE acquired the product 議。比亞迪電子以人民幣158億元（等值22億美元）為manufacturing business from the Seller in Chengdu and Wuxi 基準，根據交割前後的現金、負債和淨營運資金等including the manufacturing of components for existing customers 項目的實際金額進行調整後，以現金對價收購賣方at a cash consideration which was on the basis of RMB15.8 billion 位於成都、無錫的產品生產製造業務，包括現有客(equivalent to US$2.2 billion) and with pre-closing and post-closing 戶的零部件生產製造業務。收購完成後，目標集團adjustments for the actual amounts of cash indebtedness and net 的財務資料將納入比亞迪電子合併財務報表範圍。
working capital. Upon the completion of the acquisition the financial
information of the target group will be included in the consolidated
financial statements of BE.Save as described above during the Reporting Period there was 除上文所述外，於本報告期內，概無其他所持重大no significant investment held material acquisition and disposal of 投資及重大收購及出售附屬公司、聯營公司及合營
subsidiaries associates and joint ventures. 公司。54 BYD Company Limited比亞迪股份有限公司Management Discussion and Analysis管理層討論與分析
CAPITAL COMMITMENT 資本承擔
Please refer to note XIV.1 to the financial statements for details of 有關資本承擔業務的詳情，請參閱財務報表附註十capital commitments. 四、1。
CONTINGENT LIABILITIES 或有負債
Please refer to note XIV.2 to the financial statements for details of 有關或有負債的詳情，請參閱財務報表附註十四、
contingent liabilities. 2。
ENVIRONMENTAL PROTECTION AND SOCIAL 環保及社會安全情況
SECURITY
During the Reporting Period the Company had no significant 報告期內，本公司不存在重大環保或社會安全問environmental protection or social security issues. 題。Annual Report 2023二零二三年年報55
Directors Supervisors and Senior Management
董事、監事及高級管理層
EXECUTIVE DIRECTOR 執行董事
Wang Chuan-fu 王傳福
Mr. Wang Chuan-fu aged 58 Chinese national a master’s degree 王傳福先生，58歲，中國國籍，碩士研究生學歷，holder and a senior engineer. Mr. Wang graduated from Central South 高級工程師。王先生於一九八七年畢業於中南工業University of Technology (中南工業大學) (currently known as Central 大學（現為中南大學），主修冶金物理化學，獲學士South University (中南大學)) in 1987 with a bachelor’s degree majoring 學位；並於一九九零年畢業於中國北京有色金屬研
in metallurgy physical chemistry and then graduated from Beijing 究總院，主修冶金物理化學，獲碩士學位。王先生Non-Ferrous Research Institute in the PRC (中國北京有色金屬研究 歷任北京有色金屬研究總院副主任、深圳市比格電
總院) in 1990 with a master’s degree majoring in metallurgy physical 池有限公司總經理，並於一九九五年二月與呂向陽chemistry. Mr. Wang held positions as vice supervisor in Beijing Non- 先生共同創辦深圳市比亞迪實業有限公司（「比亞迪Ferrous Research Institute (北京有色金屬研究總院) and general 實業」，於二零零二年六月十一日變更為比亞迪股manager in Shenzhen Bi Ge Battery Co. Limited (深圳市比格電池有限 份有限公司）任總經理；現任本公司董事長、執行董
公司). In February 1995 he founded Shenzhen BYD Battery Company 事兼總裁，負責本公司一般營運及制定本公司各項Limited (深圳市比亞迪實業有限公司) (“BYD Battery”) (became BYD 業務策略，並擔任比亞迪電子（國際）有限公司的非Company Limited (比亞迪股份有限公司) on 11 June 2002) with Mr. 執行董事及主席、比亞迪半導體股份有限公司董事
Lv Xiang-yang and took the position of general manager. He is the 長、深圳騰勢新能源汽車有限公司董事長、南方科
chairman executive director and President of the Company and 技大學理事。
is responsible for the general operations of the Company and the
development of business strategies for the Company. He is a non-
executive director and the chairman of BYD Electronic (International)
Company Limited (比亞迪電子(國際)有限公司) the chairman of BYD
Semiconductor Company Limited (比亞迪半導體股份有限公司) the
chairman of Shenzhen DENZA New Energy Automotive Co. Ltd. (深
圳騰勢新能源汽車有限公司) and a director of Southern University of
Science and Technology of China (南方科技大學).Mr. Wang being a technology expert enjoyed special allowances 王先生為享受國務院特殊津貼的科技專家，曾榮獲from the State Council. He was awarded “The 2008 CCTV Man of the 「二零零八年CCTV中國經濟年度人物年度創新獎」、Year China Economy Innovation Award” (二零零八年CCTV中國經 「二零一四年札耶德未來能源獎個人終身成就獎」、濟年度人物年度創新獎) “2014 Zayed Future Energy Prize Lifetime 「二零一六年聯合國開發計劃署「可持續發展顧問委Achievement Award” (二零一四年札耶德未來能源獎個人終身成就 員會」創始成員」、「十三五」國家發展規劃專家委員獎) “a founding member of the 2016 United Nations Development 會委員」、「二零一九年第五屆全國非公有制經濟人Programme’s ‘Advisory Council for Sustainable Development’” (二零一 士優秀中國特色社會主義事業建設者」、「深圳經濟六年聯合國開發計劃署「可持續發展顧問委員會」創始成員) “a member 特區建立40週年創新創業人物和先進模範人物」、of the ‘13th Five Year Plan’ National Development Planning Expert 「全國抗擊新冠肺炎民營經濟先進個人」等獎項，王Committee” 「( 十三五」國家發展規劃專家委員會委員) “an Outstanding 先生在《財富》雜誌評選的「2023年中國最具影響力Builder of Socialism with Chinese Characteristics in the 5th National 的50位商界領袖」以及福布斯中國發布的「2023福布Non- Public Economic Sector in 2019” (二零一九年第五屆全國非公 斯中國最佳CEO」榜單中，均榮登榜首。
有制經濟人士優秀中國特色社會主義事業建設者) “a model innovatorand entrepreneur and advanced model figure for the 40th Anniversaryof the Establishment of the Shenzhen Special Economic Zone” (深圳經濟特區建立40週年創新創業人物和先進模範人物) “National AdvancedPerson in the Private Economy for the Fight against COVID-19” (全
國抗擊新冠肺炎民營經濟先進個人) etc. Mr. Wang topped the list of
China’s 50 Most Influential Business Leaders in 2023 (2023年中國最
具影響力的50位商界領袖) published by the Fortune magazine and
the list of 2023 Forbes China Best CEO (2023福布斯中國最佳CEO)
published by Forbes China.56 BYD Company Limited比亞迪股份有限公司
Directors Supervisors and Senior Management
董事、監事及高級管理層
NON-EXECUTIVE DIRECTORS 非執行董事
Lv Xiang-yang 呂向陽
Mr. Lv Xiang-yang aged 62 Chinese national and a economist. Mr. 呂向陽先生，62歲，中國國籍，經濟師。呂先生曾Lv worked at Chaohu Branch of the People’s Bank of China (中國人 在中國人民銀行巢湖分行工作，一九九五年二月與民銀行巢湖分行). In February 1995 he founded BYD Battery with 王傳福先生共同創辦比亞迪實業，現任本公司副董Mr. Wang Chuan-fu and currently is the Vice Chairman and a non- 事長兼非執行董事，並擔任融捷投資控股集團有限executive Director of the Company and also a director of Youngy 公司董事、融捷股份有限公司董事、融捷健康科技
Investment Holding Group Co. Ltd. (融捷投資控股集團有限公司) a 股份有限公司董事、廣州文石信息科技有限公司董
director of Youngy Co. Ltd. (融捷股份有限公司) a director of Youngy 事長、南京融捷康生物科技有限公司董事長、融捷
Health Technology Co. Ltd. (融捷健康科技股份有限公司) chairman 教育科技有限公司董事長、安華農業保險股份有限
of Onyx International Inc. (廣州文石信息科技有限公司) chairman of 公司董事、廣東省製造業協會名譽會長、廣東省產
Nanjing Regenecore Biotech Co. Ltd. (南京融捷康生物科技有限公司) 業發展促進會名譽會長等職。
chairman of Youngy Education Technology Co. Ltd. (融捷教育科技有
限公司) a director of Anhua Agricultural Insurance Company Limited
(安華農業保險股份有限公司) honorary chairman of Guangdong
Manufacturers Association (廣東省製造業協會) honorary chairman of
Guangdong Association for the Promotion of Industrial Development
(廣東省產業發展促進會) and so on.Xia Zuo-quan 夏佐全
Mr. Xia Zuo-quan aged 61 Chinese national and a master’s degree 夏佐全先生，61歲，中國國籍，碩士研究生學歷。
holder. Mr. Xia studied computer science in Beijing Institute of Iron 夏先生於一九八五年至一九八七年期間在北京鋼鐵
and Steel Engineering (北京鋼鐵學院) (now known as University of 學院（現為北京科技大學）修讀計算機科學；並於二
Science & Technology Beijing (北京科技大學)) from 1985 to 1987 零零七年獲北京大學光華管理學院高級工商管理碩
and he graduated from Guanghua School of Management of Peking 士學位；夏先生曾在中國人民保險公司湖北分公司
University (北京大學光華管理學院) with an EMBA in 2007. Mr. Xia 工作，並於一九九七年加入比亞迪實業；曾任本公worked in the Hubei branch of The People’s Insurance Company (中 司執行董事、副總裁，現任本公司非執行董事，並國人民保險公司湖北分公司) and joined BYD Battery in 1997 and held 擔任深圳市正軒投資有限公司、深圳正軒前海股權
positions as an executive Director and Vice President of the Company. 投資基金管理有限公司、北京正軒投資有限責任公
He is a non-executive Director of the Company and chairman of 司董事長、深圳市優必選科技股份有限公司董事、
Shenzhen Zhengxuan Investment (Holdings) Co. Ltd. (深圳市正軒投 深圳市聯合利豐供應鏈管理有限公司董事、安諾優
資有限公司) Shenzhen Zhengxuan Qianhai Equity Investment Fund 達基因科技（北京）有限公司董事長、中國宇華教育
Management Co. Ltd. (深圳正軒前海股權投資基金管理有限公司) 集團有限公司獨立董事、深圳市蓮夏慈善基金會副
and Beijing Zhengxuan Investment Co. Ltd. (北京正軒投資有限責任 理事長等職。
公司) a director of UBTECH ROBOTICS CORP LTD. (深圳市優必選
科技股份有限公司) a director of Shenzhen Uni-Fortune Supply Chain
Service Co. Ltd. (深圳市聯合利豐供應鏈管理有限公司) chairman of
Annoroad Gene Technology (Beijing) Co. Ltd. (安諾優達基因科技
(北京)有限公司) an independent director of China Yuhua Education
Corporation Limited (中國宇華教育集團有限公司) vice chairman of
Shenzhen Lianxia Charity Foundation (深圳市蓮夏慈善基金會).Annual Report 2023二零二三年年報57
Directors Supervisors and Senior Management
董事、監事及高級管理層
INDEPENDENT NON-EXECUTIVE DIRECTORS 獨立非執行董事
Cai Hong-ping 蔡洪平
Mr. Cai Hong-ping aged 70 Chinese (Hong Kong) national and a 蔡洪平先生，70歲，中國香港籍，本科學歷。蔡先bachelor’s degree holder. Mr. Cai graduated from Fudan University (復 生於一九八八年畢業於復旦大學，獲新聞學學士學旦大學) in 1988 with a bachelor’s degree in mass communications. Mr. 位。蔡先生曾任德意志銀行投行亞太區執行主席；
Cai served as an executive chairman of Deutsche Bank (德意志銀行) 瑞銀投行亞洲區主席；法國巴黎資本（亞太）有限公
in the Asia Pacific region chairman of the investment banking division 司中國區主席；百富勤投資銀行高級副總裁、董事
of UBS AG in Asia chairman of China of BNP Paribas Capital (Asia 總經理；國務院國家體改委中國企業海外上市指導
Pacific) Limited (法國巴黎資本(亞太)有限公司) senior vice president 小組辦公室成員及中國H股公司董事會秘書聯席會議
and managing director of banking division of Peregrine Investments 主席。蔡先生現任本公司獨立非執行董事，漢德資Holdings Limited (百富勤投資銀行) member of the Overseas 本主席、創始合夥人，並擔任中國東方航空股份有Listing Team Office for Chinese Enterprises under the Restructuring 限公司、上海浦東發展銀行股份有限公司、中國南
Committee of the State Council (國務院國家體改委中國企業海外上市 方航空股份有限公司獨立董事，招商銀行股份有限指導小組辦公室) and the chairman of the Joint Committee of Board 公司監事。
Secretaries for H Share Companies in the PRC (中國H股公司董事
會秘書聯席會議). Mr. Cai currently serves as an independent non-
executive director of the Company the chairman and founding partner
of AGIC (漢德資本) an independent director of China Eastern Airlines
Corporation Limited (中國東方航空股份有限公司) Shanghai Pudong
Development Bank Co. Ltd. (上海浦東發展銀行股份有限公司) China
Southern Airlines Company Limited (中國南方航空股份有限公司) and
a supervisor of China Merchants Bank Co. Ltd. (招商銀行股份有限公
司).Zhang Min 張敏
Mr. Zhang Min aged 47 Chinese national a doctoral degree holder 張敏先生，47歲，中國國籍，博士研究生學歷，and a professor of accounting. Mr. Zhang graduated from Beijing 會計學教授。張先生於一九九九年畢業於北京物資Wuzi University (北京物資學院) in 1999 with a bachelor’s degree 學院，主修會計學，管理學學士學位，於二零零五in management majoring in accounting from Zhongnan University 年畢業於中南財經政法大學，主修會計學，管理學of Economics and Law (中南財經政法大學) in 2005 with a master’s 碩士學位，於二零零八年畢業於中國人民大學，主degree in management majoring in accounting from Renmin 修會計學，獲管理學博士學位，並於二零一零年從University of China (中國人民大學) in 2008 with a doctor’s degree in 北京大學光華管理學院博士後出站。張先生現任本management majoring in accounting and completed his post-doctoral 公司獨立非執行董事，中國人民大學商學院會計系training in Peking University Guanghua School of Management (北 教授、博士生導師、會計系主任，並擔任中國南玻京大學光華管理學院) in 2010. Mr. Zhang currently serves as an 集團股份有限公司、國投資本股份有限公司獨立董
independent non-executive Director of the Company the accounting 事。
professor supervisor for Ph.D. candidates and accounting director of
Business School Renmin University of China (中國人民大學商學院) as
well as an independent director of CSG Holding Co. Ltd. (中國南玻集
團股份有限公司) and SDIC Capital Co. Ltd. (國投資本股份有限公司).58 BYD Company Limited比亞迪股份有限公司
Directors Supervisors and Senior Management
董事、監事及高級管理層
Yu Ling 喻玲
Ms. Yu Ling aged 47 Chinese national a doctoral degree holder 喻玲女士，47歲，中國國籍，博士研究生學歷，法and a professor of law. Ms. Yu graduated from Xiangtan Polytechnic 學教授。喻女士於二零零一年畢業於湘潭工學院（現University (湘潭工學院) (currently known as Hunan University of 湖南科技大學）、湘潭大學，獲法學學士學位，二Science and Technology (湖南科技大學)) and Xiangtan University 零零四年畢業於江西財經大學，獲經濟法學碩士學(湘潭大學) in 2001 with a bachelor’s degree in law from Jiangxi 位，二零零八年畢業於華東政法大學，獲經濟法學University of Finance and Economics (江西財經大學) in 2004 with 博士學位。喻女士現任本公司獨立非執行董事，並a master degree in economic law and from East China University 擔任中國經濟法學研究會、財稅法學研究會、案例
of Political Science and Law (華東政法大學) in 2008 with a doctoral 法學研究會理事，亞洲競爭法學會理事，同時擔任degree in economic law. Ms. Yu currently serves as an independent 江西安義農村商業銀行股份有限公司、新餘農村商
non-executive Director of the Company a director of Economic Law 業銀行股份有限公司、江西潤田實業股份有限公司
Research Association of China (中國經濟法學研究會) Fiscal and Tax 獨立董事。
Law Research Association (財稅法學研究會) Case Law Research
Association (案例法學研究會) and Asia Competition Association (亞
洲競爭法學會) and currently an independent director of Jiangxi Anyi
Rural Commercial Bank Co. Ltd. (江西安義農村商業銀行股份有限公
司) Xinyu Rural Commercial Bank Co. Ltd. (新餘農村商業銀行股份有
限公司) and Jiangxi Runtian Industry Co. Ltd. (江西潤田實業股份有限
公司).SUPERVISORS 監事
Li Yong-zhao 李永釗
Mr. Li Yong-zhao aged 63 Chinese national a bachelor’s degree 李永釗先生，63歲，中國國籍，本科學歷，研究holder and a researcher level senior engineer. Mr. Li graduated from 員級高級工程師。李先生於一九八二年八月畢業於Xi’an Institute of Technology (西安工業學院) in August 1982 with 西安工業學院機械製造工藝與設備專業，獲學士學a bachelor’s degree in mechanical manufacturing technology and 位。李先生曾歷任中國兵器工業集團公司國營第六equipment. Mr. Li worked as technician office head deputy director 一五廠技術員、室主任、副處長、處長、副廠長等
director deputy plant manager and held other posts in state-owned 職務，並兼任中外合資寶雞星寶機電公司總經理，Factory 615 of China Industries Group Corporation (中國兵器工業集 二零零二年五月起擔任中國兵器工業集團公司國營
團公司). He also acted as the general manager of the Sino-foreign 第八四三廠廠長，二零一零年十月起擔任西北工業joint venture named Baoji Xingbao Machinery & Electric Co. Ltd. 集團有限公司副總經理，西安北方秦川集團有限公(寶雞星寶機電公司) plant manager of state-owned Factory 843 of 司執行董事；二零二零年六月起年擔任西北工業集
China Industries Group Corporation (中國兵器工業集團公司) since 團有限公司科技委委員，二零二零年十月起擔任西May 2002 vice general manager of China North Industries Group 安北方秦川集團有限公司執行董事、黨委書記，並Corporation (西北工業集團有限公司) executive director of Xi’an 於二零二一年十月正式退休。現任本公司監事會主Northern Qinchuan Company Ltd. (西安北方秦川集團有限公司) since 席。
October 2010; member of science and technology committee of China
North Industries Group Corporation (西北工業集團有限公司) since
June 2020; the executive director Party secretary of Xi’an Northern
Qinchuan Company Ltd. (西安北方秦川集團有限公司) since October
2020. Mr. Li retired in October 2021. He is currently the chairman of
the Supervisory Committee of the Company.Annual Report 2023二零二三年年報59
Directors Supervisors and Senior Management
董事、監事及高級管理層
Zhu Ai-yun 朱愛雲
Ms. Zhu Ai-yun aged 59 Chinese national and a master’s degree 朱愛雲女士，59歲，中國國籍，碩士研究生學歷。
holder. Ms. Zhugraduated from Changsha Communications University 朱女士於一九八八年畢業於長沙交通學院，獲頒工(長沙交通學院) with a bachelor’s degree in engineering financial 程財務會計學學士學位；於二零零八年獲北京大學
accounting in 1988 and obtained an EMBA degree from Peking 高級工商管理碩士學位。朱女士曾於交通部旗下煙University (北京大學) in 2008. Ms. Zhu worked as an accountant for 台海上救撈局任會計師，並於一九九七年加入比亞Yantai Marine Salvage Bureau (烟台海上救撈局) under the Ministry 迪實業，歷任會計師、財務部經理、財務部高級經of Communications and joined BYD Battery in1997 where she served 理、比亞迪電子（國際）有限公司財務總監等職，現as an accountant manager and senior manager of the financial 任本公司監事，並擔任深圳市正軒太空科技合夥企department the chief financial officer of BYD Electronic (International) 業（有限合夥）及銀川鑫諾匯富股權投資合夥企業（有Company Limited (比亞迪電子(國際)有限公司) etc. Currently she 限合夥）執行事務合夥人、深圳尚宏投資有限公司董
is a supervisor of the Company an executive partner of Shenzhen 事、深圳市長木醫療健康管理有限公司監事、深圳
Zhengxuan Space Technology Partnership (Limited Partnership) (深 市正軒志合投資有限公司監事、深圳市正軒前瞻志
圳市正軒太空科技合夥企業(有限合夥)) and Yinchuan Xinnuo Huifu 合投資有限公司監事。
Equity Investment Partnership (Limited Partnership) (銀川鑫諾匯富
股權投資合夥企業(有限合夥)) a director of Shenzhen Shanghong
Investment Co. Ltd. (深圳尚宏投資有限公司) a supervisor of
Shenzhen Changmu Medical and Healthcare Management Co.Ltd.(深圳市長木醫療健康管理有限公司 ) a supervisor of Shenzhen
Zhengxuan Zhihe Investment Co. Ltd. (深圳市正軒志合投資有限公司)
and a supervisor of Shenzhen ZhengxuanQianzhan Zhihe Investment
Co. Ltd. (深圳市正軒前瞻志合投資有限公司).Wang Zhen 王珍
Ms. Wang Zhen aged 48 Chinese national and a bachelor’s degree 王珍女士，48歲，中國國籍，本科學歷。王女士一holder. Ms. Wang graduated from Guangdong University of Foreign 九九八年畢業於廣東外語外貿大學（原名為廣州外國Studies (廣東外語外貿大學) (formerly known as “Guangzhou Institute 語學院），主修西班牙語，獲學士學位。王女士於一of Foreign Languages” (廣州外國語學院)) in the PRC in 1998 majoring 九九八年加入比亞迪實業，歷任海外商務部經理、in Spanish and obtained a bachelor’s degree. Ms. Wang joined BYD 深圳騰勢新能源汽車有限公司行政人事副總裁、總
Battery in 1998 and served as a manager in overseas Ministry of 裁辦公室主任、軌道交通產業辦公室主任、比亞迪
Commerce Vice President of Administrative Personnel of Shenzhen 慈善基金會秘書長、比亞迪坪山地區總經理，現任DENZA New Energy Automotive Co. Ltd. (深圳騰勢新能源汽車有限公 本公司監事及人力資源處總經理，並擔任汕頭市雲司) officer of the President’s office director of the rail transit industry 軌交通有限公司監事、濟寧市雲軌交通有限公司監
office secretary-general of BYD Charity Foundation and general 事及比亞迪慈善基金會理事長。
manager of BYD Company (Pingshan District). She is a supervisor and
the general manager of Human Resources Office of the Company a
supervisor of Shantou City Sky Rail Transportation Co. Ltd. (汕頭市雲
軌交通有限公司) a supervisor of Jining City Sky Rail Transportation
Co. Ltd. (濟寧市雲軌交通有限公司) and the chairman of BYD Charity
Foundation.60 BYD Company Limited比亞迪股份有限公司
Directors Supervisors and Senior Management
董事、監事及高級管理層
Huang Jiang-feng 黃江鋒
Mr. Huang Jiang-feng aged 44 Chinese national and a bachelor’s 黃江鋒先生，44歲，中國國籍，本科學歷。黃先degree holder. Mr. Huang graduated from Zhongnan University of 生於二零零三年畢業於中南財經政法大學，獲行政Economics and Law (中南財經政法大學) in 2003 with a bachelor’s 管理專業學士學位。黃先生曾任職於中國石化湖南degree in administration. Mr. Huang held positions in Sinopec 郴州石油分公司、東莞徐福記食品有限公司、國信
Chenzhou Petroleum Branch in Hunan (中國石化湖南郴州石油分公 證券廣州營業部，二零零八年八月至今在融捷投資司) Dongguan Hsu Fu Chi Foods Co. Ltd. (東莞徐福記食品有限公 控股集團有限公司工作，於二零一四年九月起擔任司) and Guangzhou Office (廣州營業部) of Guosen Securities (國信 本公司監事，現同時擔任融捷投資控股集團有限公證券). He has been working in Youngy Investment Holding Group 司董事兼副總裁、深圳前海融捷金融服務有限公司
Co. Ltd. (融捷投資控股集團有限公司) since August 2008 and has 執行董事兼總經理、廣東融捷融資服務有限公司經
been a supervisor of the Company since September 2014 and now 理、廣東融捷融資租賃有限公司董事兼總經理、廣
serves as a director and Vice President of Youngy Investment Holding 東融捷供應鏈管理有限公司執行董事兼經理、安徽
Group Co. Ltd. (融捷投資控股集團有限公司) an executive director 融捷投資有限公司董事、深圳融捷資產管理有限公
and general manager of Shenzhen Qianhai Youngy Financial Services 司董事兼總經理、融捷股份有限公司監事長、廣州
Company Limited (深圳前海融捷金融服務有限公司) manager of 融捷股權投資有限公司執行董事、康定市天捷建材
Guangdong Youngy Financing Service Company Limited (廣東融捷 有限公司執行董事兼經理、成都融捷鋰業科技有限
融資服務有限公司) a director and general manager of Guangdong 公司董事長、合肥融捷金屬科技有限公司董事、蕪
Youngy Financing Renting Company Limited (廣東融捷融資租賃有 湖天弋能源科技有限公司董事、融捷教育科技有限
限公司) an executive director and manager of Guangdong Youngy 公司董事、廣東融捷資本管理有限公司執行董事兼
Supply Chain Management Co. Ltd. (廣東融捷供應鏈管理有限公 經理。
司) a director of Anhui Youngy Investment Co. Ltd (安徽融捷投資有
限公司) a director and general manager of Shenzhen Youngy Asset
Management Co. Ltd (深圳融捷資產管理有限公司) chairman of the
supervisory committee of Youngy Co. Ltd (融捷股份有限公司) an
executive director of Guangzhou Youngy Equity Investment Co. Ltd
(廣州融捷股權投資有限公司) an executive director and manager
of Kangding Tianjie Construction Material Co. Ltd (康定市天捷建材
有限公司) chairman of Chengdu Youngy Lithium Technology Co.Ltd (成都融捷鋰業科技有限公司) a director of Hefei Youngy Metal
Technology Co. Ltd (合肥融捷金屬科技有限公司) a director of Wuhu
Tianyi Energy Technology Co. Ltd. (蕪湖天弋能源科技有限公司) a
director of Youngy Education Technology Co. Ltd. (融捷教育科技有限
公司) and an executive director and manager of Guangdong Youngy
Capital Management Co. Ltd (廣東融捷資本管理有限公司).Tang Mei 唐梅
Ms. Tang Mei aged 41 is a Chinese national bachelor’s degree 唐梅女士，41歲，中國國籍，本科學歷。唐女士二holder. Ms. Tang graduated from Central South University (中南大學) 零零五年六月畢業於中南大學，主修英語，獲學士in June 2005 with a bachelor’s degree in English. Ms. Tang joined 學位。唐女士於二零零五年加入本集團，歷任總裁the Group in 2005 and held positions as secretary of the President a 秘書、本集團文化宣傳部經理、本集團接待中心經
manager in Cultural Propaganda Department of the Group a manager 理、比亞迪慈善基金會執行長，現任本公司監事及in reception center of the Group executive officer of BYD Charity 總裁辦公室副主任兼汽車產業辦公室總監。
Foundation currently a supervisor and the deputy head of the Chief
Executive Office and the supervisor of the Automobile Industry Office.Annual Report 2023二零二三年年報61
Directors Supervisors and Senior Management
董事、監事及高級管理層
SENIOR MANAGEMENT 高級管理層
Li Ke 李柯
Ms. Li Ke aged 54 Chinese national and a bachelor’s degree holder. 李柯女士，54歲，中國國籍，本科學歷。李女士於Ms. Li graduated from Fudan University (復旦大學) in 1992 with a 一九九二年畢業於復旦大學，獲統計學學士學位。
bachelor’s degree in statistics. Ms. Li worked at Asia Resources (亞洲 李女士曾任職於亞洲資源，並於一九九六年九月加資源) and joined BYD Battery in September 1996. She served various 入比亞迪實業，歷任市場部經理、銷售總經理、positions including marketing manager and general sales manager 比亞迪電子（國際）有限公司執行董事及行政總裁等
executive director and chief executive officer of BYD Electronic 職，現任本公司執行副總裁兼比亞迪美洲地區總裁(International) Company Limited (比亞迪電子(國際)有限公司) and is 及比亞迪慈善基金會副理事長。
an Executive Vice President of the Company and the President of BYD
in America and vice chairman of BYD Charity Foundation.Luo Hong-bin 羅紅斌
Mr. Luo Hong-bin aged 58 Chinese national a master’s degree 羅紅斌先生，58歲，中國國籍，碩士研究生學歷，holder and a professorate senior engineer. Mr. Luo obtained a 教授級高級工程師職稱。羅先生主修計算機應用，master’s degree in computer application. Mr. Luo joined the Group 獲碩士學位。羅先生於二零零三年十月加入本集in October 2003. He served various posts including manager of the 團，歷任第十五事業部電子三部經理，電動汽車研third Electronics Sub-division of Division 15 director of the Institute of 究所所長，電力科學研究院院長、第十四事業部總Electric vehicles president of the Electric Power Research Institute 經理、第十七事業部總經理等職務，現任本公司高general manager of Division 14 and general manager of Division 17. 級副總裁、弗迪動力有限公司董事長、深圳比亞迪
He currently is a Senior Vice President of the Company the chairman 汽車實業有限公司董事長及比亞迪慈善基金會理
of Fudi Power Co. Ltd. (弗迪動力有限公司) the chairman of Shenzhen 事。
BYD Auto Industrial Co. Ltd. (深圳比亞迪汽車實業有限公司) and a
director of BYD Charity Foundation.He Zhi-qi 何志奇
Mr. He Zhi-qi aged 52 Chinese national and a master’s degree 何志奇先生，52歲，中國國籍，碩士學歷。何先生holder. Mr. He graduated from Changchun Institute of Applied 於一九九八年畢業於中科院長春應用化學研究所，Chemistry Chinese Academy of Sciences (中科院長春應用化學研究 主修無機化學，獲碩士學位；二零一零年獲中歐工所) in 1998 with a master’s degree majoring in inorganic chemistry 商管理學院工商管理碩士學位。何先生於一九九八and then graduated from China Europe International Business School 年七月加入比亞迪實業，歷任公司中研部、品質部(中歐工商管理學院) with an MBA in 2010. Mr. He joined BYD Battery 經理、第四事業部總經理、採購處總經理等職，現in July 1998 and served various posts including central research 任公司高級副總裁及乘用車事業群首席運營官、深
manager quality control manager general manager of Division 4 and 圳騰勢新能源汽車有限公司董事。
general manager of Purchasing Office of the Company. He currently
is a Senior Vice President and the chief operating officer of Passenger
Car Division of the Company and a director of Shenzhen DENZA New
Energy Automotive Co. Ltd. (深圳騰勢新能源汽車有限公司).62 BYD Company Limited比亞迪股份有限公司
Directors Supervisors and Senior Management
董事、監事及高級管理層
He Long 何龍
Mr. He Long aged 52 Chinese national and a master’s degree 何龍先生，52歲，中國國籍，碩士研究生學歷。何holder. Mr. He graduated from Peking University (北京大學) in 1999 先生於一九九九年畢業於北京大學，先後獲得應用and obtained a bachelor’s degree of science in applied chemistry an 化學理學學士學位、法學學士學位及無機化學碩士
LLB and a master’s degree in inorganic chemistry. Mr. He joined BYD 學位。何先生於一九九九年七月加入比亞迪實業，Battery in July 1999 and held positions as quality control manager of 曾任第一事業部、第二事業部質量部經理，第二事Division 1 and Division 2 deputy general manager of Division 2 and 業部副總經理，佛山市金輝高科光電材料有限公司vice-chairman of Foshan Jinhui Hi-Tech Optoelectronic Material Co. 副董事長，現任本公司高級副總裁、弗迪電池有限Ltd. (佛山市金輝高科光電材料有限公司). He is a Senior Vice President 公司董事長，並擔任西藏日喀則紮布耶鋰業高科技of the Company chairman of FinDreams Battery Co. Ltd. (弗迪電池 有限公司董事、中冶瑞木新能源科技有限公司董事
有限公司) a director of Tibet Zabuye Lithium Industry Co. Ltd. (西 及比亞迪慈善基金會理事。
藏日喀則紮布耶鋰業高科技有限公司) a director of MCC Ramu New
Energy Technology Co. Ltd (中冶瑞木新能源科技有限公司) and a
director of BYD Charity Foundation.Liu Huan-ming 劉煥明
Mr. Liu Huan-ming aged 61 Chinese national a master’s degree 劉煥明先生，61歲，中國國籍，碩士研究生學歷，holder and a senior engineer. Mr. Liu graduated from Northeastern 高級工程師。劉先生於一九八八年畢業於東北工學Institute of Technology (東北工學院) (currently known as Northeastern 院（現為東北大學），主修冶金物理化學，先後取得University) in 1988 with a bachelor’s degree and later a master’s 學士學位和碩士學位。劉先生曾在四川攀枝花鋼鐵degree in metallurgical physical chemistry. Mr. Liu worked for the 公司鋼鐵研究院、遼寧本溪鋼鐵公司任職，並於一Iron and Steel Institute of Panzhihua Iron and Steel Company in 九九七年三月加入比亞迪實業，曾任人力資源處總Sichuan (四川攀枝花鋼鐵公司鋼鐵研究院) and Benxi Iron and Steel 經理、新能源車直營管理事業部總經理、軌道業務
Company in Liaoning (遼寧本溪鋼鐵公司). He joined BYD Battery in 第三事業部總經理，現任本公司副總裁、審計監察March 1997 and served as general manager of the Human Resources 處總經理及比亞迪慈善基金會理事、同時分管比亞
Office general manager of the Department of New Energy Vehicle 迪知識產權及法務處、信息中心等部門。
Direct Sale Management and general manager of Division 3 of the
Rail Department of the Company. He is currently a Vice President
of the Company general manager of the Audit Inspection Division
and a director of BYD Charity Foundation. He is also in charge of
the Intellectual Property and Legal Department and the Information
Center.Wang Chuan-fang 王傳方
Mr. Wang Chuan-fang aged 63 Chinese national. Mr. Wang joined 王傳方先生，63歲，中國國籍。王先生於一九九六BYD Battery in August 1996 and held positions including personnel 年八月加入比亞迪實業，歷任人事部經理、後勤部manager and logistics manager. He currently is a Vice President of the 經理；現任本公司副總裁、後勤處總經理、第二十
Company general manager of Logistics Division general manager of 二事業部總經理，並擔任銀川雲軌運營有限公司董Division 22 and a director of Yinchuan Sky Rail Operation Co. Ltd. (銀 事及比亞迪慈善基金會理事。
川雲軌運營有限公司) and a director of BYD Charity Foundation.Annual Report 2023二零二三年年報63
Directors Supervisors and Senior Management
董事、監事及高級管理層
Ren Lin 任林
Mr. Ren Lin aged 57 Chinese national a bachelor’s degree holder 任林先生，57歲，中國國籍，本科學歷教授級高and a professorate senior engineer. Mr. Ren graduated from Beijing 工。任先生於一九八九年畢業於北京理工大學，主Institute of Technology (北京理工大學) in 1989 with a bachelor’s 修機械設計製造及其自動化，獲學士學位；工作期degree majoring in mechanical design manufacturing and automation. 間曾多次於日本、清華大學、北京理工大學進修。
He went to Japan Tsinghua University (清華大學) and Beijing Institute 任先生曾在陝西秦川汽車有限責任公司任職，並於of Technology (北京理工大學) for multiple times for further study 二零零三年一月加入本集團，歷任汽車工程研究院during his terms of office. Mr. Ren once worked in Shaanxi Qinchuan 常務副院長等職，現任本公司副總裁、第二十一事Motor Co. Ltd. (陝西秦川汽車有限責任公司) and joined the Group in 業部總經理、比亞迪慈善基金會理事、中國城市軌
January 2003 holding positions including as executive Vice President 道交通協會低運能系統分會副會長、中國城市軌道
of Automotive Engineering Research Institute (汽車工程研究院). He 交通協會單軌分會副會長、中國城市軌道交通協會
currently is a Vice President of the Company general manager of 專家和學術委員會專家委員等職務。
Division 21 a director of BYD Charity Foundation the vice chairman of
the Low-capacity System Branch of China Association of Metros (中國
城市軌道交通協會低運能系統分會) the vice chairman of the Monorail
Branch of China Association of Metros (中國城市軌道交通協會單軌
分會) an expert of China Association of Metros (中國城市軌道交通
協會) and an expert member of the Academic Committee of China
Association of Metros (中國城市軌道交通協會).Wang Jie 王傑
Mr. Wang Jie aged 59 Chinese national and a bachelor’s degree 王傑先生，59歲，中國國籍，本科學歷。王先生於holder. Mr. Wang graduated from Xi’an Institute of Gold Mining and 一九八八年畢業於西安冶金建築學院（現為西安建築Construction (西安冶金建築學院) (now known as Xi’an University of 科技大學），主修工業企業自動化，獲工學學士學Architecture and Technology (西安建築科技大學)) in 1988 with a 位；曾在冶金部嘉興冶金機械廠等單位任職。王先bachelor’s degree in engineering majoring in industry enterprises 生於一九九六年九月加入比亞迪實業，歷任銷售經automatisation. Mr. Wang once worked in Jiaxing Metallurgy 理、銷售總監、營銷本部副總經理、綠色公交事業
Manufacture Factory of Metallurgy Department (冶金部嘉興冶金機械 部總經理、商用車事業群CEO等職，現任本公司副廠) and other institutions. Mr. Wang joined BYD Battery in September 總裁及比亞迪慈善基金會理事。
1996 and he served various positions including sales manager
sales director and deputy general manager of the Company’s Sales
& Marketing Division the general manager of Green Bus Division
and the CEO of Commercial Vehicles Division of the Company. He
currently is a Vice President of the Company and a director of BYD
Charity Foundation.Zhou Ya-lin 周亞琳
Ms. Zhou Ya-lin aged 47 Chinese national and a bachelor’s degree 周亞琳女士，47歲，中國國籍，本科學歷。周女士holder. Ms. Zhou graduated from Jiangxi University of Finance and 於一九九九年畢業於江西財經大學，獲經濟學學士Economics (江西財經大學) in 1999 with a bachelor’s degree in 學位。周女士於一九九九年三月加入比亞迪實業，economics. Ms. Zhou joined BYD Battery in March 1999 and is the 現任本公司副總裁兼財務總監，並擔任比亞迪電子Vice President and chief financial officer of the Company. She is also （國際）有限公司財務總監、比亞迪半導體股份有限
the chief financial officer of BYD Electronic (International) Company 公司董事、比亞迪汽車金融有限公司董事長、比亞
Limited (比亞迪電子(國際)有限公司) a director of BYD Semiconductor 迪豐田電動車科技有限公司監事及比亞迪慈善基金
Company Limited (比亞迪半導體股份有限公司) chairman of BYD Auto 會監事等職。
Finance Company Limited (比亞迪汽車金融有限公司) a supervisor of
BYD TOYOTA EV Technology Co. Ltd. (比亞迪豐田電動車科技有限公
司) and a supervisor of BYD Charity Foundation etc.64 BYD Company Limited比亞迪股份有限公司
Directors Supervisors and Senior Management
董事、監事及高級管理層
Yang Dong-sheng 楊冬生
Mr. Yang Dong-sheng aged 45 Chinese national and a master’s 楊冬生先生，45歲，中國國籍，碩士學歷，正高級degree holder and a senior engineer. Mr. Yang graduated from 工程師。楊先生二零零五年三月畢業於東北大學，Northeastern University (東北大學) in March 2005 with a master’s 獲碩士學位。楊先生於二零零五年加入本集團，歷degree. Mr. Yang joined the Group in 2005 and has held positions 任公司汽車工程研究院高級工程師、汽車工程研究
including senior engineer in Automotive Engineering Research 院底盤部副經理、總裁高級業務秘書、產品及技術
Institute vice manager in the Chassis Division of the Automotive 規劃處總經理等職，現任本公司副總裁兼產品規劃Engineering Research Institute senior business secretary of the 及汽車新技術研究院院長。
President general manager of the Product and Technical Planning
Division. He is presently the Vice President of the Company and the
dean of Product Planning and New Automotive Technology Research
Institute.Zhao Jian-ping 趙儉平
Mr. Zhao Jian-ping aged 47 Chinese national and a bachelor’s 趙儉平先生，47歲，中國國籍，本科學歷。趙先生degree holder. Mr. Zhao graduated from Peking University (北京 於一九九九年七月畢業於北京大學，獲化學學士學大學) in July 1999 with a bachelor’s degree in chemistry. Mr. Zhao 位。趙先生於一九九九年加入比亞迪實業，歷任公joined BYD Battery in 1999 and held positions as vice manager of the 司第十一事業部品質部副經理、汽車產業群品質處
Quality Control Sub-division of Division 11 and general manager of 總經理，現任公司副總裁兼品質處總經理。
the Quality Control Department of the Automobile Industry Group. He
is currently the Vice President and the general manager of the Quality
Control Department of the Company.Li Qian 李黔
Mr. Li Qian aged 51 Chinese national with no right of abode 李黔先生，51歲，中國國籍，無境外居留權，碩士overseas and a master’s degree holder. Mr. Li graduated from Jiangxi 研究生學歷。李先生於一九九七年畢業於江西財經University of Finance and Economics (江西財經大學) in 1997 with 大學，獲經濟學學士學位，二零一六年七月，獲北a bachelor’s degree in economics. He graduated from Guanghua 京大學光華管理學院高級工商管理碩士學位。李先School of Management of the Peking University (北京大學光華管理 生曾於普華永道會計師事務所、安達信會計師事務
學院) with an EMBA in July 2016. Mr. Li served in PwC China (普華 所、中興通訊股份有限公司任職；李先生為香港公
永道會計師事務所) Arthur Andersen (安達信會計師事務所) and ZTE 司治理公會（前身為「香港特許秘書公會」）資深會士，Corporation (中興通訊股份有限公司). Mr. Li is a fellow member of The 並曾擔任深圳証劵交易所第十届上市委員會委員、
Hong Kong Chartered Governance Institute (formerly known as The 深圳証劵交易所第一届創業板上市委員會委員。李Hong Kong Institute of Chartered Secretaries) and members of the 先生於二零零五年八月加入本集團，現任本公司董tenth Listing Committee of Shenzhen Stock Exchange and the first 事會秘書、公司秘書、投資處總經理以及比亞迪電
GEM Listing Committee of Shenzhen Stock Exchange. Mr. Li joined 子（國際）有限公司之聯席公司秘書、比亞迪半導體
the Group in August 2005 and currently serves as a secretary to 股份有限公司董事、深圳市比亞迪投資管理有限公
the Board Company secretary and general manager of Investment 司董事長、深圳市弗迪創業投資有限公司董事長、
Department of the Company. He is also a joint company secretary of 儲能電站（湖北）有限公司董事長、深圳華大北斗科
BYD Electronic (International) Company Limited (比亞迪電子(國際) 技股份有限公司副董事長、青海鹽湖比亞迪資源開
有限公司) a director of BYD Semiconductor Company Limited (比 發有限公司董事、盛新鋰能集團股份有限公司董
亞迪半導體股份有限公司) chairman of Shenzhen BYD Investment 事、四川路橋建設集團股份有限公司董事、無錫邑
Management Co. Ltd. (深圳市比亞迪投資管理有限公司) chairman of 文微電子科技股份有限公司董事等職。
Shenzhen Fudi Venture Capital Co. Ltd. (深圳市弗迪創業投資有限公
司) chairman of Energy Storage Power Station (Hubei) Co. Ltd. (儲能
電站(湖北)有限公司) vice chairman of Allystar Technology (Shenzhen)
Co. Ltd. (深圳華大北斗科技股份有限公司) a director of Qinghai Salt
Lake BYD Resources Development Co. Ltd. (青海鹽湖比亞迪資源開
發有限公司) a director of Chengxin Lithium Group Co. Ltd. (盛新鋰能
集團股份有限公司) a director of Sichuan Road & Bridge Group Co.Ltd. (四川路橋建設集團股份有限公司) and a director of Advanced
Materials Technology & Engineering Inc. (無錫邑文微電子科技股份有
限公司) etc.Annual Report 2023二零二三年年報65
Directors Supervisors and Senior Management
董事、監事及高級管理層
DIRECTORS’ SUPERVISORS’ AND SENIOR 報告期內董事、監事和高級管理人員報酬
MANAGEMENT’S REMUNERATION DURING THE
REPORTING PERIOD
Total remuneration
received from
the Company
(Unit: RMB0’000)從公司獲得的
Name Position held within the Company Status of employment 報酬總額
姓名於本公司擔任的職務任職狀態（單位：人民幣萬元）
Wang Chuan-fu Chairman Executive Director and President Incumbent 661
王傳福董事長、執行董事、總裁現任
Lv Xiang-yang Vice-chairman and non-executive Director Incumbent 23
呂向陽副董事長、非執行董事現任
Xia Zuo-quan Non-executive Director Incumbent 23夏佐全非執行董事現任
Cai Hong-ping Independent non-executive Director Incumbent 23蔡洪平獨立非執行董事現任
Zhang Min Independent non-executive Director Incumbent 23張敏獨立非執行董事現任
Jiang Yan-bo Independent non-executive Director Resigned (effective from 19 September 2023) 14
蔣岩波獨立非執行董事離任（自二零二三年九月十九日起離任）
Yu Ling Independent non-executive Director Incumbent (effective from 19 September 2023) 8
喻玲獨立非執行董事現任（自二零二三年九月十九日起任職）
Dong Jun-qing Supervisor and chairman of the supervisory committee Resigned (effective from 19 September 2023) 7
董俊卿監事、監事會主席離任（自二零二三年九月十九日起離任）
Li Yong-zhao Supervisor and chairman of the supervisory committee Incumbent 13
李永釗監事、監事會主席現任
Zhu Ai-yun Supervisor Incumbent (effective from 19 September 2023) 6
朱愛雲監事現任（自二零二三年九月十九日起任職）
Huang Jiang-feng Supervisor Incumbent 13黃江鋒監事現任
Wang Zhen Supervisor Incumbent 507王珍監事現任
Tang Mei Supervisor Incumbent 191唐梅監事現任
Li Ke Executive Vice President Incumbent 1326
李柯 執行副總裁 現任66 BYD Company Limited比亞迪股份有限公司
Directors Supervisors and Senior Management
董事、監事及高級管理層
DIRECTORS’ SUPERVISORS’ AND SENIOR 報告期內董事、監事和高級管理人員報酬
MANAGEMENT’S REMUNERATION DURING THE （續）
REPORTING PERIOD (CONTINUED)
Total remuneration
received from
the Company
(Unit: RMB0’000)從公司獲得的
Name Position held within the Company Status of employment 報酬總額
姓名於本公司擔任的職務任職狀態（單位：人民幣萬元）
Lian Yu-bo Executive Vice President Resigned (effective from 14 July 2023) 671
廉玉波執行副總裁離任（自二零二三年七月十四日起離任）
Luo Hong-bin Senior Vice President Incumbent 1406羅紅斌高級副總裁現任
He Zhi-qi Senior Vice President Incumbent 1045何志奇高級副總裁現任
He Long Senior Vice President Incumbent 1019何龍高級副總裁現任
Liu Huan-ming Vice President Incumbent 756劉煥明副總裁現任
Wang Chuan-fang Vice President Incumbent 741王傳方副總裁現任
Ren Lin Vice President Incumbent 788任林副總裁現任
Wang Jie Vice President Incumbent 414王傑副總裁現任
Zhou Ya-lin Vice President Incumbent 744周亞琳副總裁現任
Chief Financial Officer Incumbent財務總監現任
Yang Dong-sheng Vice President Incumbent 832楊冬生副總裁現任
Zhao Jian-ping Vice President Incumbent (effective from 19 May 2023) 550
趙儉平副總裁現任（自二零二三年五月十九日起任職）
Li Qian Secretary to the Board Company Secretary Incumbent 533
李黔董事會秘書、公司秘書現任
Total － － 12337
總計Annual Report 2023二零二三年年報67
Corporate Governance Report企業管治報告
The Board believes that good corporate governance is a key element 董事會相信，良好的企業管治是提高現有及未來股in enhancing the confidence of current and potential shareholders 東、投資者、僱員、業務夥伴及整體社會信心的關
investors employees business partners and the community as a 鍵因素。在這方面，公司一直致力推廣及貫徹執行whole. To this end the Company has been committed to promoting 企業管治的最高標準。
and upholding the highest standard of corporate governance.The Company has put in place corporate governance practices to 本公司已實施企業管治常規，以遵照上市規則附錄comply with all the provisions and most of the recommended best C1《企業管治守則》「守則」的所有條文及大部分建議
practices of the Corporate Governance Code (the “Code”) set out in 最佳應用守則，惟偏離守則條文第C.2.1條及C.1.6條Appendix C1 to the Listing Rules except for the deviation from the 者除外。
Code provisions C.2.1 and C.1.6.Code provision C.2.1 provides that the roles of chairman and chief 守則條文第C.2.1條規定，主席及行政總裁的角色executive officer should be separate and should not be performed 應有區分，並不應由同一人同時兼任。王傳福先生by the same individual. Mr. Wang Chuan-fu is the chairman and 為本公司的主席兼行政總裁。董事會認為此架構不chief executive officer of the Company. The Board considers that this 會影響董事會與管理層兩者之間的權利和職權的平
structure will not impair the balance of power and authority between 衡。董事會由極具經驗和才幹的成員組成，並定期the Board and the management. The Board comprises experienced 開會，以商討影響本集團運作的事項。透過董事會and high-caliber members and meets regularly to discuss issues 的運作，足以確保權利和職權得到平衡。董事會相affecting operations of the Group. The Board believes that this 信此架構有助於建立穩健而一致的領導權，使本集structure is conducive to strong and consistent leadership enabling 團能夠迅速及有效地作出及實施各項決定。董事會the Group to make and implement decisions promptly and efficiently. 對王先生充滿信心，相信委任他出任主席兼行政總The Board has full confidence in Mr. Wang and believes that his 裁之職，會有利於本公司的業務發展。
appointment to the posts of chairman and chief executive officer is
beneficial to the business development of the Company.Code provision C.1.6 stipulates that independent non-executive 守則條文第C.1.6條規定，獨立非執行董事及非執行Directors and non-executive Directors should attend general meetings. 董事應出席股東大會。鑒於部分非執行董事在報告Given that some non-executive Directors had other important business 期內因有重要公務，故並非均出席於二零二三年六engagement during the Reporting Period not all of them attended 月八日舉行的股東週年大會及於二零二三年九月十
the annual general meeting held on 8 June 2023 and extraordinary 九日舉行的臨時股東大會。
general meeting held on 19 September 2023.During the Reporting Period except for the deviation from Code 報告期內，除偏離如上述所釋的守則條文第C.2.1條provisions C.2.1 and C.1.6 as explained above the Directors are 及C.1.6條外，董事認為，本公司已遵守所有適用守of the opinion that the Company had complied with all applicable 則條文。
provisions of the Code.Save as disclosed above there is no other information required to be 除上文所披露者，概無其他資料須根據上市規則第disclosed pursuant to Rule 13.51B (1) of the Listing Rules. 13.51B(1)條予以披露。68 BYD Company Limited比亞迪股份有限公司Corporate Governance Report企業管治報告
BOARD OF DIRECTORS 董事會
Accountable to the Shareholders the Board is collectively responsible 董事會對股東負責，並共同負責制定本集團的策略for formulating the strategic business direction of the Group and 業務方針及為管理層制定目標、監督其表現及評估
setting objectives for management overseeing its performance and 管理層各項策略的效率。董事會亦負責並已於年內assessing the effectiveness of management strategies. The Board is 履行守則項下第A.2.1條所載企業管治職責（包括確定also responsible for and has during the Year performed the corporate 本公司企業管治政策）。
governance duties set out in Code provision A.2.1 of the Code
(including the determination of the corporate governance policy of the
Company).DIRECTORS 董事
As at the date of this report the Board comprises of six Directors 於本報告刊發日期，董事會由六名董事組成，包括including one executive Director who is the President two non- 一名執行董事（為總裁），兩名非執行董事及三名獨executive Directors and three independent non-executive Directors. 立非執行董事。每位董事專業經驗及對本集團成功Detailed biographies outlining each individual Director’s range of 長期運作的適合性的簡歷載於本年報第55頁至第58
specialist experience and suitability of the successful long-term 頁。
operation of the Group are set out on pages 55 to 58 of this annual
report.The Group believes that its executive and non-executive Directors 本集團相信，執行董事及非執行董事有關本集團業composition is well balanced with each Director having sound 務經營及發展的良好知識、經驗及╱或專才可與各
knowledge experience and/or expertise relevant to the business 董事達致平衡。所有董事均知悉其須對股東負擔的operations and development of the Group. All Directors are aware of 共同及個別責任，並已恪盡職守，謹慎勤勉地履行their collective and individual responsibilities to the Shareholders and 其職責，為本集團於年內的成功表現作出貢獻。
have exercised their duties with care skill and diligence contributing
to the successful performance of the Group for the Year.The Company has received from each of the independent non- 本公司已收到獨立非執行董事根據上市規則規定有
executive Directors an annual confirmation of his independence as 關其獨立性的年度確認函。本公司認為，所有獨立required under the Listing Rules. The Company considers that all 非執行董事繼續展現高度的獨立判斷，亦不牽涉任independent non-executive Directors continued to demonstrate strong 何可影響其有效履行職責的業務或其他關係。因independence in judgement and were free from any business or 此，本公司認為所有獨立非執行董事均為獨立。於other relationship which could interfere with their ability to discharge 本報告日期，全體獨立非執行董事的服務年限均短their duties effectively. Accordingly the Company considers that 於9年。倘董事會希望向股東會尋求委任任何已服務all independent non-executive Directors to be independent. As at 9年以上的獨立非執行董事，根據守則條文第B.2.3the date of this report the years of service of all independent non- 條，應將關於委任的議案以獨立決議案形式提交股executive Directors are less than 9 years. Should the Board wish to 東大會審議通過。雖然彼等的服務年限長，但仍應seek for the further appointments of any independent non-executive 於提交至股東的相關文件中包含證明彼等獨立性的
Directors serving more than 9 years from the general meetings 依據。
separate resolutions on such appointments should be proposed to
the general meetings for consideration and approval in accordance
with Code provision B.2.3. The reasons to justify their independence
despite of the length of their services will be contained in relevant
papers to the Shareholders.Annual Report 2023二零二三年年報69
Corporate Governance Report企業管治報告
The Company has arranged appropriate insurance coverage in 本公司已就其董事及高級管理人員可能面對的法律
respect of legal actions against its Directors and senior management 訴訟安排適當的投保，並將每年檢討該等保險。
with the extent of such insurance being reviewed each year.The Board held eleven meetings during the Year to discuss the 董事會於年內舉行十一次會議，以討論本集團的整Group’s overall strategy operation financial performance and review 體策略、營運、財務表現及檢討對守則的遵守情
the status of regulatory compliance. The Board also ensures that 況。董事會還確保及時獲提供所有必要的資料，以it is supplied in a timely manner with all necessary information in a 便可履行其職務。董事會所有會議按呈交予董事會form and of a quality appropriate to enable it to discharge its duties. 審議的正式議事程序進行。於董事會會議上討論的All Board meetings adhere to a formal agenda in which a schedule 事項包括（其中包括）：季度、中期及年度業績；董
of matter is specifically addressed to the Board for its decision. 事、監事及高管薪酬建議；核數師的推薦建議；批
The matters discussed at these Board meetings include among 准重大資本項目；股息政策；以及其他重要經營及
others quarterly interim and annual results; recommendations on 財務事項。
the remuneration of Directors supervisors and senior management
recommendations of auditors approval of major capital projects;
dividend policies; and other significant operational and financial
matters.The Directors decide on various corporate strategies approve overall 董事決定各項公司策略、批准整體業務計劃及代表
business plans and supervise the Group’s financial performance 股東監督本集團的財務表現、管理層及組織。董事management and organization on behalf of the Shareholders. 會委任本集團管理層的特別任務，包括編製年度、Specific tasks that the Board delegates to the Group’ s management 中期及季度報告供董事會批准以向公眾發表；實施
included the preparation of annual interim and quarterly accounts 董事會批准的各項策略；實施內部監控程序，以及for the Board’s approval before public reporting; the implementation 確保遵照有關法律規定及其他法規及規則。
of strategies approved by the Board; the implementation of internal
control procedures; and the ensuring of compliance with relevant
statutory requirements and other regulations and rules.70 BYD Company Limited比亞迪股份有限公司
Corporate Governance Report企業管治報告
Under the articles of association of the Company (the “Articles”) the 根據《公司章程》，董事及監事任期三年。王傳福先term of office for Directors and supervisors is three years. The terms of 生、呂向陽先生、夏佐全先生、蔡洪平先生、張敏
office of Mr. Wang Chuan-fu Mr. Lv Xiang-yang Mr. Xia Zuo-quan Mr. 先生及蔣岩波先生的任期已於二零二三年九月八日
Cai Hong-ping Mr. Zhang Min and Mr. Jiang Yan-bo have expired 屆滿，根據《公司章程》的規定，上述各董事的任on 8 September 2023. According to the Articles the terms of office of 期順延至臨時股東大會批准組成新一屆董事會並正
the above Directors shall be extended until the date on which a new 式履職之日止。本公司於二零二三年九月十九日舉session of the Board is approved by the extraordinary general meeting 行臨時股東大會以重選董事及選舉新董事。其中，and the new Directors officially perform their duties. The Company 王傳福先生、呂向陽先生、夏佐全先生、蔡洪平先
held an extraordinary general meeting on 19 September 2023 to re- 生及張敏先生已獲本公司董事會及提名委員會提名
elect Directors and elect new Directors. Mr. Wang Chuan-fu Mr. Lv 為本公司董事候選人，並獲股東於二零二三年九月Xiang-yang Mr. Xia Zuo-quan Mr. Cai Hong-ping and Mr. Zhang Min 十九日舉行的本公司臨時股東大會上重選。本公司have been nominated by the Board and the nomination committee of 前獨立非執行董事蔣岩波先生已於上述的本公司臨
the Company as candidates for Directors of the Company and have 時股東大會上退任並不再擔任本公司獨立非執行董
been re-elected by the Shareholders at the extraordinary general 事。喻玲女士亦於同日的臨時股東大會結束後，獲meeting of the Company held on 19 September 2023. Mr. Jiang Yan- 委任為本公司獨立非執行董事。根據本公司的《公司bo a former independent non-executive Director of the Company 章程》及相關董事會決議，各董事會成員、監事會成has retired at the above extraordinary general meeting of the 員的委任年期為期三年，為二零二三年九月十九日Company and ceased to be an independent non-executive Director 至二零二六年九月十八日。
of the Company. Ms. Yu Ling was also appointed as an independent
non-executive Director of the Company after the conclusion of the
extraordinary general meeting on the same day. According to the
Articles and relevant Board resolutions the term of office of each
member of the Board and supervisory committee is three years from
19 September 2023 to 18 September 2026.
Mr. Wang Chuan-fu Mr. Lv Xiang-yang Mr. Xia Zuo-quan Mr. Cai 於截至二零二三年十二月三十一日止年度，王傳福Hong-ping Mr. Zhang Min and Ms. Yu Ling have been re-elected or 先生、呂向陽先生、夏佐全先生、蔡洪平先生、張
newly-appointed as Directors during the year ended 31 December 敏先生以及喻玲女士獲重選或新委任為公司董事，
2023 and they had obtained the legal advice referred to in the 並於二零二三年九月十九日取得上市規則相應規則
corresponding rules of the Listing Rules on 19 September 2023. The 所述的法律意見。前述人士均已確認了解作為董事above-mentioned Directors have confirmed that they understood their 的責任。
obligations as Directors.Annual Report 2023二零二三年年報71
Corporate Governance Report企業管治報告
CONTINUOUS PROFESSIONAL DEVELOPMENT OF 董事持續專業發展
DIRECTORS
Newly appointed Directors of the Company will be provided with 本公司董事就任時，本公司提供相關就任須知材relevant induction materials to assist them to fully understand the 料，以幫助董事完全理解本公司經營、業務及管Company’s operations business and governance policies and their 治政策以及上市規則等相關法律法規規定的董事
responsibilities and duties as a Director under the requirements of 職責，並提供有助董事瞭解本公司業務及經營情況the relevant laws and regulations such as the Listing Rules. They 的資料；為確保獨立非執行董事充分履行職責，本will also be provided with materials to help them to gain insights 公司亦會組織獨立非執行董事進行實地考察，並與in the Company’s business and operation. In order to ensure due 管理層進行充分溝通。根據企業管治要求，董事參performance of duties by the independent non-executive Directors 與持續專業發展計劃，以發展及更新彼等知識及技the Company will also arrange on-site visits and ensure sufficient 能，以下列載每位董事培訓詳情：
communication between the management and the independent
non-executive Directors. Pursuant to the corporate governance
requirements the Directors participated in continuous professional
development programme to develop and update their knowledge and
skills. The particulars of the trainings of each Director are as follows:
Training/
seminars
participated Reading
參與培訓╱ materials
Name of Directors 董事姓名 簡介會 閱讀材料
Executive Director 執行董事
Wang Chuan-fu 王傳福 √ √
Non-executive Directors 非執行董事
Lv Xiang-yang 呂向陽 √ √
Xia Zuo-quan 夏佐全 √ √
Independent Non-executive Directors 獨立非執行董事
Cai Hong-ping 蔡洪平 √ √
Zhang Min 張敏 √ √Jiang Yan-bo (resigned with effect from 蔣岩波（自二零二三年九月十九日起
19 September 2023) 離任）Yu Ling (appointed with effect from 喻玲（自二零二三年九月十九日起 √ √
19 September 2023) 任職）72 BYD Company Limited比亞迪股份有限公司
Corporate Governance Report企業管治報告
INDEPENDENT VIEWS 獨立意見
The Company has maintained various measures and mechanisms 本公司採取多種方式及方法，以確保董事會可獲得to ensure that independent views and inputs are made available to 獨立意見及建議。例如，根據守則條文C.5.6及C.5.9the Board. For instance in compliance with Code provisions C.5.6 條，董事會及其委員可獲得充分資料，並可單獨及and C.5.9 the Board and its committees are provided with adequate 獨立接觸本公司高級管理層，以作出知情決定。尤information and have separate and independent access to the 其是，董事會全體成員均有權及時獲取本集團資料senior management of the Company for purpose of making informed （包括但不限於管理賬目、經營業績及統計數據、審decisions. In particular all members of the Board are entitled to 計結果及其他行業及市場相關信息及預測）、尋求公
have timely access to the information of the Group (including but not 司秘書的協助及專業意見（倘有），費用由本公司承limited to management accounts operational results and statistics 擔。此外，本公司審核委員會亦有權每年與本公司audit results and other relevant industry and market information 外部核數師聯絡及討論以履行其職責，亦鼓勵董事and forecasts) as well as assistance of the company secretary and 會成員於適當情況下徵求其他成員、僱員、其他持
professional advice if necessary at the expense of the Company. 份者及投資者（透過投資者關係渠道）意見，以確保Besides the audit committee of the Company is also entitled to 於決策過程中可全面計及不同觀點。
contact and has discussed with external auditors of the Company
on an annual basis to discharge its duties. Board members are also
encouraged to seek inputs from other members employees other
stakeholders as well as investors (via the investor relations channels)
in appropriate circumstances to ensure that different perspectives are
taken into account in the decision- making process.The implementation and effectiveness of the relevant measures 董事會每年檢討相關方式及方法之實施情況及成
and mechanisms are reviewed by the Board on an annual basis. 效。董事會信納其有效及充分的正式或非正式渠The Board is satisfied that there are effective and sufficient formal 道，此舉確保董事會層面達成獨立意見及建議。
or informal channels in place to ensure that independent views and
inputs are reached at the Board level.Annual Report 2023二零二三年年報73
Corporate Governance Report企業管治報告
BOARD MEETINGS 董事會會議
To ensure the highest attendance of Directors written notices are sent 為了保證最高的董事出席率，定期董事會會議於十to all Directors 14 days before a regular board meeting; written notices 四天前以書面通知各董事；臨時董事會會議於兩天
are sent to all Directors 2 days before a provisional board meeting. 前以書面通知各董事。會議議程於諮詢董事會成員The meeting agenda is set in consultation with members of the Board. 後制定。年內共舉行十一次董事會會議。董事於年The Board held 11 meetings in the Year. The attendance of individual 內的董事會會議及股東大會的個人出席情況載列如
Director at the Board meetings as well as general meetings in the Year 下：
is set out below:
Annual Extraordinary
General General
Board Meetings Meetings Meetings
Members of the Board 董事會成員 董事會會議 股東週年大會 股東特別大會
Executive Director 執行董事
Wang Chuan-fu 王傳福 11/11 1/1 1/1
Non-executive Directors 非執行董事
Lv Xiang-yang 呂向陽 11/11 0/1 1/1
Xia Zuo-quan 夏佐全 11/11 0/1 0/1
Independent non-executive Directors 獨立非執行董事
Cai Hong-ping 蔡洪平 11/11 1/1 1/1
Zhang Min 張敏 11/11 1/1 1/1Jiang Yan-bo (resigned with effect from 蔣岩波（自二零二三年 8/11 1/1 1/1
19 September 2023) 九月十九日起離任）Yu Ling (in office from 19 September 2023) 喻玲（自二零二三年 3/11 0/1 1/1九月十九日起任職）
In furtherance of good corporate governance the Board has set up a 為進一步實施良好企業管治，董事會已成立數個委number of committees including: 員會，包括：
– the audit committee; – 審核委員會；
– the remuneration committee; – 薪酬委員會；
– the nomination committee; and – 提名委員會；及
– the strategy committee. – 戰略委員會。
Each committee reports regularly to the Board addressing major 各委員會定期向董事會作出報告，以表達各重大發issues and findings with valuable recommendations for the decision 現及寶貴建議供董事會作出決定。該等委員會的詳making of the Board. The particulars of these Committees are set out 情載列如下。
hereunder.74 BYD Company Limited比亞迪股份有限公司
Corporate Governance Report企業管治報告
AUDIT COMMITTEE 審核委員會
One of the primary duties of the audit committee is to review the 審核委員會的主要職責之一是審閱本集團的財務報
financial reporting process and the risk management and internal 告程序以及風險管理及內部控制制度。於二零二三control systems of the Group. As at 31 December 2023 the audit 年十二月三十一日，審核委員會包括三名獨立非執committee consists of three independent non-executive Directors 行董事，即蔡洪平先生、張敏先生及喻玲女士，以namely Mr. Cai Hong-ping Mr. Zhang Min and Ms. Yu Ling and a 及一名非執行董事夏佐全先生，而張敏先生出任主non-executive Director Mr. Xia Zuo-quan with Mr. Zhang Min as the 席。本公司的審核委員會與核數師舉行會議，以檢chairman. Meetings were convened by the audit committee and the 討本集團所採納的會計政策及常規，及討論審核、Company’s auditors to review the accounting policies and practices 內部監控、風險管理及財務報告事項，以向董事會adopted by the Group and to discuss auditing internal control risk 推薦批准。
management and financial reporting matters before recommending
them to the Board for approval.The terms of reference of the audit committee follow the guidelines set 審核委員會的職權範圍已遵照香港會計師公會所制
by the Hong Kong Institute of Certified Public Accountants the Listing 定的指引、上市規則及守則的規定。
Rules and the provisions of the Code.The audit committee held five meetings in 2023 to review the internal 於二零二三年，審核委員會舉行五次會議，以審閱and external audit findings the accounting principles and practices 內部及外部審核的發現、本集團所採納的會計準則
adopted by the Group Listing Rules and statutory compliance to 及常規、遵照上市規則及法律、參照外部核數師所
consider its relationship remuneration and appointment terms and 履行的工作後，審議與外部核數師的關係、其酬金independence with the external auditor with reference to its work 及聘任條款及獨立性，並就建議重新委任外部核數performance and to make recommendations to the Board regarding 師向董事會提出建議，及討論審核、內部監控、風the reappointment of the external auditor to discuss auditing internal 險管理及財務報告事項（包括審核截至二零二二年controls risk management and financial reporting matters (including 十二月三十一日止年度、截至二零二三年三月三十
auditing the financial statements for the year ended 31 December 一日止三個月、截至二零二三年六月三十日止六個
2022 the three months ended 31 March 2023 the six months ended 月及截至二零二三年九月三十日止九個月的財務報
30 June 2023 and the nine months ended 30 September 2023) before 表），以向董事會推薦批准，及履行守則下的其他的
recommending them to the Board for approval and to perform its 職責。其成員的出席情況載列如下：
other duties under the Code. The attendance of its members is set out
as follows:
Number of
Committee
Meetings
Attended Attendance
出席委員會 Rate
Members of the Audit Committee 審核委員會成員 會議次數 出席率Lv Xiang-yang (expired on 19 September 呂向陽（二零二三年九月十九日 3 100%
2023)屆滿）Xia Zuo-quan (appointed with effect from 夏佐全（自二零二三年九月十九日起 2 100%
19 September 2023) 任職）
Zhang Min (Chairman) 張敏（主席） 5 100%
Cai Hong-ping 蔡洪平 5 100%Jiang Yan-bo (resigned with effect from 蔣岩波（自二零二三年九月十九日起 3 100%
19 September 2023) 離任）Yu Ling (appointed with effect from 喻玲（自二零二三年九月十九日起 2 100%
19 September 2023) 任職）Annual Report 2023
二零二三年年報75
Corporate Governance Report企業管治報告
REMUNERATION COMMITTEE 薪酬委員會
The Board established a remuneration committee on 27 June 2005. 董事會已於二零零五年六月二十七日成立薪酬委員
The primary roles of the remuneration committee is to regularly review 會。薪酬委員會的主要角色是定期檢討人力資源管human resource management policies make recommendations 理政策、對董事及高級行政人員的薪酬組合、補償
on the remuneration packages compensation and benefit plans 及福利計劃提出建議，審閱及╱或批准上市規則第of Directors and senior executives review and/or approve matters 十七章項下的股份計劃相關事項以及制定本集團高
relating to share schemes under Chapter 17 of the Listing Rules as 級管理人員的表現目標。於二零二三年十二月三十well as set performance goals for senior management of the Group. 一日，薪酬委員會包括一名執行董事王傳福先生、As at 31 December 2023 the Remuneration Committee comprises of 一名非執行董事夏佐全先生、及三名獨立非執行董
an executive Director Mr. Wang Chuan-fu a non-executive Director 事蔡洪平先生、張敏先生及喻玲女士，而蔡洪平先Mr. Xia Zuo-quan and three independent non-executive Directors 生出任主席。
namely Mr. Cai Hong-ping Mr. Zhang Min and Ms. Yu Ling with Mr.Cai Hong-ping as the chairman.The remuneration committee has reviewed its terms of reference 於二零二三年，薪酬委員會已檢討其職權範圍（其職which is available on the websites of the Hong Kong Stock Exchange 權範圍可於香港聯交所及本公司網站查閱），以符合and the Company in 2023 to comply with the Code. 守則。
In terms of the summary of the work of the remuneration committee 薪酬委員會的履職概述方面，於二零二三年，薪酬the remuneration committee held two meetings in 2023 to among 委員會舉行兩次會議，以（其中包括）決定執行董事的others determine the policy for the remuneration of executive 薪酬政策並批准其聘用合同，評估執行董事的表現及審Directors and approve the terms of executive Directors’ service 閱本公司董事、監事及高級管理人員的薪酬。其成contracts assess the performance of executive Directors and review 員出席情況載列如下：
the remuneration of directors supervisors and senior management of
the Company. The attendance of its members is set out as follows:
Number of
Committee
Meetings
Attended Attendance
出席委員會 Rate
Members of the Remuneration Committee 薪酬委員會成員 會議次數 出席率
Wang Chuan-fu 王傳福 2 100%
Xia Zuo-quan 夏佐全 2 100%
Cai Hong-ping (Chairman) 蔡洪平（主席） 2 100%
Zhang Min 張敏 2 100%Jiang Yan-bo (resigned with effect from 蔣岩波（自二零二三年九月十九日起 2 100%
19 September 2023) 離任）Yu Ling (appointed with effect from 喻玲（自二零二三年九月十九日起 – –
19 September 2023) 任職）76 BYD Company Limited比亞迪股份有限公司
Corporate Governance Report企業管治報告
REMUNERATION POLICY FOR DIRECTORS 董事薪酬政策
The primary goal of the Group’s remuneration policy for executive 本集團對執行董事薪酬政策的主要目標是讓本公司
Directors is to enable the Company to retain and motivate executive 可透過將執行董事的補償與其個人表現掛鈎並與公
Directors by l inking their compensation with their individual 司目標及本集團的經營業績相衡量，同時計及可比performance measuring the compensation against the corporate 較的市場條件，以挽留及激勵執行董事。就執行董objectives and the Group’s operating results and taking into 事及高級管理層薪酬而言，薪酬委員會向董事會就account of comparable market conditions. For the remuneration of 個別執行董事及高級管理層的薪酬組合提出建議（採the executive Directors and senior management the remuneration 納企業管治守則條文第E.1.2(c)(ii)條所述模式）並將
committee makes recommendations to the Board on the remuneration 由董事會審閱及採納批准，同時執行董事的薪酬組packages of individual executive Directors and senior management 合方案還須經股東大會批准。年內，公司董事會及(adopting the model described in Code provision E.1.2(c)(ii) of the 薪酬委員會並未就任何薪酬及補償安排產生任何分
Code) which would then be reviewed and subject to approval by the 歧。執行董事的薪酬組合主要部分包括基本薪金、Board. The remuneration package of the executive Directors would 酌情花紅。非執行董事的薪酬主要包括董事袍金。
also be subject to approval by Shareholders at general meetings. 董事於履行其作為董事職責時所發生的開支，本公During the year there is no disagreement between the Board and 司會作出合理補償。
the remuneration committee on any remuneration or compensation
arrangements. The principal elements of the remuneration package of
executive Directors include basic salary and discretionary bonus. The
remuneration of non- executive Directors includes mainly the Director’s
fee. The Company reimburses reasonable expenses incurred by
Directors in the course of their carrying out of duties as Directors.Directors do not participate in the decisions on their own remuneration. 董事不參與釐定其本身的薪酬。
The emoluments paid to each Director for the year ended 31 截至二零二三年十二月三十一日止年度，支付予各December 2023 are set out on page 65 of this annual report. 董事的酬金載於本年報第65頁。
Remuneration of Senior Management During the Year 年內高級管理人員薪酬
Number of
Senior Management
Remuneration by bands 按等級劃分的酬金 高級管理層人數
RMB0 to RMB5 million 人民幣零元至人民幣500萬元 1
RMB5 million to RMB8 million 人民幣500萬元至人民幣800萬元 8
RMB8 million to RMB11 million 人民幣800萬元至人民幣1100萬元 3
RMB11 million to RMB14 million 人民幣1100萬元至人民幣1400萬元 1
Over RMB14 million 人民幣1400萬元以上 1Annual Report 2023二零二三年年報77
Corporate Governance Report企業管治報告
NOMINATION COMMITTEE 提名委員會
The Group has established the nomination committee. As at 31 本集團已成立提名委員會。於二零二三年十二月三December 2023 the nomination committee comprises of an executive 十一日，提名委員會由一名執行董事王傳福先生、Director Mr. Wang Chuan-fu a non-executive Director Mr. Lv Xiang- 一名非執行董事呂向陽先生、及三名獨立非執行董
yang and three independent non-executive Directors namely Mr. Cai 事蔡洪平先生、張敏先生及喻玲女士組成，而喻玲Hong-ping Mr. Zhang Min and Ms. Yu Ling with Ms. Yu Ling as the 女士為主席。提名委員會已獲授權力及權限，以審chairman. The nomination committee has been delegated with the 閱董事會的架構、規模及組成，就挑選董事及高級powers and authorities to review the structure size and composition 管理層候任人選、委任及重新委任董事及計劃董事
of the Board make recommendations to the Board on the selection 繼任向董事會提供建議，亦負責評估獨立非執行董of candidates nominated for directorships and senior management 事的獨立性及決定董事提名的政策。
appointment and reappointment of Directors and succession planning
for Directors assess the independence of independent non-executive
Directors and determine the policy for the nomination of Directors.In terms of the summary of the work of the nomination committee the 提名委員會的履職概述方面，於二零二三年，提名nomination committee held three meeting in 2023 on the nomination of 委員會舉行三次會議，以提名趙儉平先生為公司副Mr. Zhao Jian-ping as a candidate for vice president of the Company 總裁候選人、公司董事會換屆選舉及審閱高級管理
the election of new session of the Board of the Company and review of 層、內部審計負責人等候選人。其成員出席情況載the candidates for senior management and the head of internal audit. 列如下：
The attendance of its members is set out as follows:
Number of
Committee
Meetings
Attended Attendance
出席委員會 Rate
Members of the Nomination Committee 提名委員會成員 會議次數 出席率
Wang Chuan-fu 王傳福 3 100%
Lv Xiang-yang 呂向陽 3 100%
Jiang Yan-bo (Chairman) (resigned with 蔣岩波（主席）（自二零二三年 2 100%effect from 19 September 2023) 九月十九日起離任）
Yu Ling (Chairman) (appointed with 喻玲（主席）（自二零二三年 1 100%effect from 19 September 2023) 九月十九日起任職）
Cai Hong-ping 蔡洪平 3 100%
Zhang Min 張敏 3 100%
The nomination committee is committed to promoting diversity in our 提名委員會致力於通過考慮企業管治結構的多項因
Company to the extent practicable by taking into consideration a 素，在切實可行的情況下促進本公司多元化。
number of factors in respect of our corporate governance structure.78 BYD Company Limited比亞迪股份有限公司
Corporate Governance Report企業管治報告
The nomination committee has also adopted a nomination policy which 提名委員會亦已採納一項提名政策，當中列載新委includes the selection criteria and nomination procedures of new 任及重新委任董事之甄選準則及提名程序。用以評appointments and re-appointments of Directors. The selection criteria 估候選人的甄選準則包括（尤其是）其學歷背景及專
for assessing candidates include in particular his/her educational 業資格、與行業有關之經驗、品格、誠信及彼是否
background and professional qualifications experiences in the 能如多元化政策所述為董事會多元化作出貢獻。重industry personality and integrity as well as his/her contributions to 新委任董事方面，提名委員會將考慮如退任董事所the diversity of the Board according to the board diversity policy. In 作出貢獻等因素。倘候選人獲委任獨立非執行董事the case of re-appointment of Directors the nomination committee 職位，提名委員會將參考上市規則所載列之要求評would take into account factors such as contribution from the retiring 估彼之獨立性。在委任新董事時，提名委員會及╱Directors. Where the candidate is appointed for the position of 或董事會會先物色適合人選。經提名委員會根據甄independent non-executive Director the nomination committee will also 選準則評估候選人後，提名委員會將提名一位或多assess his/her independence with reference to the requirements set 位合資格候選人供董事會考慮，且董事會將決定並out in the Listing Rules. In appointing a new Director the nomination 同意一位最佳候選人。本公司及╱或董事會主席將committee and/or the Board will first identify potential candidates. After 與最佳候選人協商委任之條款。最後，董事會主席the nomination committee evaluated the candidates based on the 經諮詢薪酬委員會主席及提名委員會主席後將落實
selection criteria the nomination committee will nominate one or more 委任書，予董事會批准。提名委員會應確保挑選程qualified candidates for the Board’s consideration and the Board will 序透明及公平，於委聘程序中維持採用多元化甄選determine and agree on a preferred candidate. The Company and/or 準則，同時考慮年齡、教育背景、專業經驗、行業the chairman of the Board will then negotiate the terms of appointment 技能及專業知識等多項特質。自成立以來，提名委with the preferred candidate. Finally the chairman of the Board in 員會已肩負檢討在提名方面應用多元化甄選政策之
consultation with the chairman of the remuneration committee and 責任，確保董事具備多元化視野及不同教育背景及the chairman of the nomination committee will then finalise a letter of 專業知識。
appointment for the Board’s approval. The nomination committee shall
ensure the transparency and fairness of the selection procedure and
continue to adopt diversified selection criteria during the appointment
procedure taking into consideration a range of elements such as age
educational background professional experience industrial skills
and professional knowledge. Since its establishment the nomination
committee has assumed the role of reviewing the application of such
diversified selection policy at the nomination level maintaining a
diversified spectrum of varying perspectives educational background
and professional knowledge in the Board.Annual Report 2023二零二三年年報79
Corporate Governance Report企業管治報告
The Board’s Diversity Policy 董事會多元化政策
The Board has adopted the board diversity policy which sets 董事會已採納董事會多元化政策，其中載有董事會out the approach to the diversity of the Board. The Company 多元化之方針。本公司認同董事會成員多元化對企recognises the importance of diversity to corporate governance and 業管治及董事會行之有效的重要性，董事會成員多an effective Board. The board diversity policy aims to set out the 元化政策旨在列載為達致董事會成員多元化而採取
approach to achieve Board diversity so as to ensure that the Board 的方針，以確保董事會根據本公司業務所需具備適members possess appropriate skills experience and diverse views 當的技能、經驗及多元化觀點。董事會及提名委員necessary for the business of the Company. In determining the Board 會在設定董事會成員組合時，會從多方面考慮董事composition the Board and nomination committee consider a range 會成員多元化，包括但不限於性別、年齡、文化及of diversity elements including but not limited to gender age cultural 教育背景、專業經驗、技能及知識。董事會所有委and educational background professional experience skills and 任均以用人唯才為原則，並以客觀準則考慮人選，knowledge. All appointments of the Board will be made based on 充分顧及董事會多元化的裨益。
merit and objective criteria while taking into full account the interest of
the Board’s diversity.The selection of candidates will be based on a range of diversity 甄選人選將基於一系列多元化觀點及將定期審閱的
elements and measurable objectives which will be reviewed regularly. 可計量目標。這些可計量目標包括但不限於性別、Such measurable objectives shall include but not limited to gender 年齡、文化背景、教育背景、專業經驗、技能、知
age cultural and educational background professional experience 識及╱或服務年期等。最終將按所選人選的優點及skills knowledge and/or terms of service. The final decision will 其將為董事會帶來的貢獻而作出決定。此外，根據be made according to the strengths of the candidate and his/her 守則第B.1.3守則條文，董事會應每年檢討發行人的contribution that would bring to the Board. Furthermore pursuant 董事會多元化政策的實施情況及有效性。提名委員to Code provision B.1.3 of the Code the Board should review the 會已履行其年內上述職責，包括甄選人選及審閱公implementation and effectiveness of the issuer’s policy on board 司的董事會多元化政策的實施情況及有效性。經考diversity on an annual basis. The nomination committee has performed 慮本公司業務及發展需求，提名委員會認為現任董the above duties in terms of the selection of candidates and the 事會在技能、經驗、知識、服務年限及獨立性方面
review of the implementation and effectiveness of the Company’s 充分表現多樣化格局。
diversity policy during the Year. Having considered the business
and development needs of the Company the nomination committee
considers that the current Board is sufficiently diversified in terms of
its skills experience knowledge length of service and independence.80 BYD Company Limited比亞迪股份有限公司
Corporate Governance Report企業管治報告
The current session of the Board was considered and approved 本公司本屆董事會於二零二三年九月一日經提名委
by the nomination committee and the Seventh Session of the 員會及第七屆董事會審核通過，並提交公司股東於Board on 1 September 2023. In addition they were appointed after 二零二三年九月十九日的臨時股東大會上審議通過
consideration and approval at the extraordinary general meeting 並予以委任（合稱「本屆董事會委任程序」）。於二零of the Company held on 19 September 2023 (collectively the 二三年十二月三十一日，本屆董事會其中一名董事“Appointment Procedures for the Current Session of the Board”). As 為女性，與二零二二年的董事會組成相比，董事會at 31 December 2023 one of the members of the current session of 性別多元化有所增進。認識到性別多元化的重要性the Board is female which shows an improvement in gender diversity 及益處後，董事會的可計量目標之一乃於董事會中in the Board when compared to the composition in year 2022. 包含至少一名女性董事。董事會將繼續採取積極措Recognising the importance and benefits of gender diversity it is 施物色合適候選人，以提升董事會成員的性別多元one of the measurable objectives of the Board to include at least one 化，並著重將性別納入本公司實現董事會多元化的female Director in the Board. The Board will continue to take proactive 考量因素之一。
measures to identify suitable candidates to enhance gender diversity
among members of the Board and will emphasize to include gender
as a factor to be taken into consideration for achieving the Board
diversity.The Company is committed to promoting gender diversity not only 本公司致力於促進董事會、高級管理層乃至整個員
within the Board and senior management but also among its entire 工隊伍的性別多元化。儘管受限於本集團的業務屬workforce. While it is more challenging to achieve gender diversity 性，在全體員工範圍內實現性別多元化將更具挑across the workforce due to the business nature of the Group as 戰，於本報告日期，本集團高級管理層中女性員工at the date of this report the number of female senior management 的數量約佔高級管理層人數的14%，女性員工的數of the Group accounted for 14% of the total number of senior 量約佔全體員工總人數的32%(包括高級管理層）。董management and the number of female employees of the Group 事會認為本集團員工隊伍目前已實現員工性別多元
accounted for approximately 32% of the total workforce (including 化。儘管如此，本集團將在為本集團業務招募和選senior management). The Board is of the view that the Group has 擇關鍵管理人員及其他人員時繼續提高員工隊伍的
achieved gender diversity among employees. Nevertheless the 性別多元化。
Group will continue to improve gender diversity in the workforce when
recruiting and selecting key management and other personnel across
the Group’s operations.The Group’s recruitment strategy is underpinned by the appointment 本集團的招聘策略為合適的崗位聘用合適的員工，of the right employee for the right position in order to achieve 從員工的性別、年齡、文化、及教育背景、專業經employee diversity for all employees (including senior management) in 驗、技能及知識等方面實現全體員工（包括高級管理terms of gender age cultural and educational background expertise 人員）的多元化。
skills and know-how.STRATEGY COMMITTEE 戰略委員會
The Group established the strategy committee on 20 March 2008. 本集團於二零零八年三月二十日成立戰略委員會。
As at 31 December 2023 the strategy committee comprises of one 於二零二三年十二月三十一日，戰略委員會由一名executive Director Mr. Wang Chuan-fu two non-executive Directors 執行董事王傳福先生、兩名非執行董事呂向陽先生
namely Mr. Lv Xiang-yang and Mr. Xia Zuo-quan and two independent 及夏佐全先生，以及兩名獨立非執行董事蔡洪平先non-executive Directors namely Mr. Cai Hong-ping and Mr. Zhang 生及張敏先生組成，而王傳福先生為主席。戰略委Min with Mr. Wang Chuan-fu as the chairman. The main duty of the 員會主要職責是對公司長期發展戰略和重大投資決
strategy committee is to consider and make recommendations on the 策進行研究並提出建議。
Company’s long-term development strategy and major investment
decisions.Annual Report 2023二零二三年年報81
Corporate Governance Report企業管治報告
COMPANY SECRETARY 公司秘書
Mr. Li Qian the company secretary of the Company is a full-time staff 本公司之公司秘書李黔先生為本集團全職僱員，並of the Group and is familiar with the daily affairs of the Company. 對本公司的日常事務有所認識。於本財政年度，公During the financial year the company secretary had complied with 司秘書已遵守上市規則第3.29條的相關專業培訓要
the relevant professional training requirements under Rule 3.29 of 求。公司秘書的履歷詳情載於本年報「董事、監事及the Listing Rules. The biographical details of the company secretary 高級管理層」一節中。
are set out in the section headed “Directors Supervisors and SeniorManagement” in this annual report.INDEPENDENT AUDITORS AND THEIR REMUNERATION 獨立核數師及其薪酬
For the year ended 31 December 2023 the total remuneration paid 截至二零二三年十二月三十一日止年度，獨立核數to the independent auditor Ernst & Young Hua Ming LLP was 師安永華明會計師事務所（特殊普通合夥）為本公司
RMB14100000 for audit services and non-audit services provided for 及其子公司提供核數服務和非核數服務的薪酬總額
the Company and its subsidiaries. The audit fee was approved by the 為人民幣14100000元。核數費已獲董事會批准。
Board. During the Reporting Period the total remuneration in respect 於報告期內，提供非核數服務的薪酬總額為人民幣of the non-audit services provided was approximately RMB8650000. 8650000元。非核數服務的薪酬組成如下表列示。
The remuneration composition of the non-audit services is set out in
the table below.
20232022
Items 項目 二零二三年 二零二二年
Review of interim results 審閱中期業績 RMB900000 RMB900000人民幣900000元人民幣900000元
USD1090000
Non-audit item (Note) 非核數項目（附註） 109萬美元 –
Note: Other non-audit service fees include interdependent auditor’s fee 附註： 其他非審計服務費用中包括獨立核數師為比亞
for providing non-audit services in relation to the acquisition of 迪電子（國際）有限公司於二零二三年十二月二
the mobile electronics manufacturing business by BYD Electronic 十九日宣告完成交割之收購移動電子業務提供
(International) Company Limited which was completed on 29 非審計服務。有關收購的詳細信息載列於本報December 2023. For further details of the acquisition please refer 告題為「所持重大投資及重大收購及出售附屬公to information disclosed in the section headed “SIGNIFICANT 司、聯營公司及合營公司」的部分。INVESTMENT HELD AND MATERIAL ACQUISITIONS AND
DISPOSALS OF SUBSIDIARIES ASSOCIATES AND JOINTVENTURES” in this annual report.The Directors have acknowledged their responsibilities for preparing 董事確認彼等負責編製本公司截至二零二三年十二
the consolidated financial statements of the Company for the year 月三十一日止年度的合併財務報表。
ended 31 December 2023.The statement of the external auditor of the Company about its 本公司獨立核數師有關其對本公司截至二零二三年
reporting responsibilities on the Company’s consolidated financial 十二月三十一日止年度的合併財務報表的申報責任
statements for the year ended 31 December 2023 is set out in the 的陳述書，載於本年報的「審計報告」內。
section headed “Audit Report” in this annual report.82 BYD Company Limited比亞迪股份有限公司
Corporate Governance Report企業管治報告
RISK MANAGEMENT AND INTERNAL CONTROL 風險管理及內部監控
The Board confirms its responsibility for risk management and internal 董事會確認對風險管理及內部監控系統負責，並通control systems and for reviewing their effectiveness through the 過審核委員會至少每年檢討其有效性。審核委員會audit committee at least annually. The audit committee assists the 協助董事會履行其監察及企業管制職責，涵蓋本公Board in performing its responsibilities of supervision and corporate 司的財務、運營、合規、風險管理及內部監控，和governance covering financial operational compliance risk 內部審計職能。
management and internal control as well as internal audit functions of
the Company.Various measures have been designed for safeguarding assets 本公司已設計各項措施，以保障資產不被非法使用against unauthorised use or disposition; for maintaining good 或出售、保持良好會計記錄及用於業務或公佈的財
accounting records and for the reliability of financial data used 務數據的可靠性。風險管理及內部監控系統旨在管within the business or for publication. The Company’s systems of risk 理而非消除未能達成業務目標的風險，而且就避免management and internal control are designed to manage rather than 重大錯誤、損失或欺騙行為而言，僅能作出合理而eliminate the risk of failure to achieve business objectives and can 非絕對的保證。董事會信納本公司已全面遵守守則only provide reasonable but not absolute assurance against material 所載風險管理和內部監控條文。
errors losses or fraud. The Board considers that the Company is fully
compliant with the provisions of risk management and internal control
as set forth in the Code.Risk Management and Internal Control Framework 風險管理及內部監控框架
The Company’s risk management system is composed of a well- 本公司風險管理包含完善之組織架構，以及全面之established organizational structure as well as all-rounded policies 政策和程序。各業務及職能部門之職責均清楚列and procedures. The responsibilities of each business and functional 明，以確保有效之制衡。本公司的風險管理及內部department are clearly defined to ensure effective balance. The 監控架構包括下列各項：
Company’s risk management and internal control structure comprises
of:
Board of Directors 董事會
* Evaluating and determining the nature and magnitude of the * 負責評估並釐定本公司承受的風險性質及程
risks to be assumed by the Company to achieve its business 度，以達成其業務策略目標；
and strategic goals;
* Ensuring that the Company has established and maintained * 確保本公司建立及維持合適及有效的風險管
appropriate and effective risk management and internal control 理及內部監控系統；
systems;
* Supervising the designing implementation and inspection * 監督管理層對風險管理及內部監控系統的設
of the risk management and internal control systems by the 計、實施及監察。
management team.Annual Report 2023二零二三年年報83
Corporate Governance Report企業管治報告
Audit Committee 審核委員會
* Assisting the Board in performing its duties of risk management * 協助董事會執行其風險管理及內部監控系統
and internal control systems; 的職責；
* Supervising the Company’s risk management and internal * 持續監督本公司的風險管理及內部監控系
control systems on an ongoing basis to provide opinions 統，對風險管理及內部監控系統管理制度的and suggestions with regard to the improvement of the risk 健全和完善提出意見和建議；
management and internal control systems;
* Reviewing the ef fect iveness of the Company’ s r isk * 至少每年一次檢討本公司的風險管理及內部
management and internal control systems at least once a year; 監控系統是否有效；
* Ensuring that the Company has sufficient resources staff * 確保本公司在會計、內部審核及財務匯報職
qualifications and experiences and training programs in 能，以及本集團環境、社會及管治表現及匯accounting internal audit and financial reporting functions as 報方面有足夠的資源，員工資歷和經驗以及well as those relating to the Group’s environmental social and 培訓。
governance performance and reporting.Management Team 管理層
* Designing implementing and inspecting the risk management * 負責設計、執行及監察風險管理及內部監控
and internal control systems; 系統；
* Identifying evaluating and managing risks (including * 識別、評估及管理可能對運作之主要程序構environmental social and governance risks) that may exert 成潛在影響之風險（包括環境、社會及管治風potential impacts on major operational procedures; 險）；
* Responding to and following up in a timely manner on the * 對內部審計提出的有關風險管理及內部監控
investigation results of risk management and internal control 事宜之調查結果，作出及時回應和跟進；
issues raised by the internal audit department;
* Providing confirmation to the Board and the audit committee on * 向董事會及審核委員會提供有關風險管理及
the effectiveness of the risk management and internal control 內部監控系統是否有效的確認。
systems.Internal Audit Department 內部審計
* Reviewing the due effectiveness of the Company’s risk * 審核本公司風險管理及內部監控制度是否足
management and internal control systems; 夠有效；
* Reporting the audit results or findings and making suggestions * 向審核委員會匯報審核結果或發現並作出建
to the audit committee to improve major drawbacks of the 議，以改善制度重大不足之處或發現監控缺systems or identify the deficiency of the control. 失。84 BYD Company Limited比亞迪股份有限公司Corporate Governance Report企業管治報告
IDENTIFICATION EVALUATION AND MANAGEMENT OF 識別、評估及管理重大風險
MAJOR RISKS
The management team and relevant staff identify risks (including 管理層及相關員工識別可能對公司及運營構成潛在
environmental social and governance risks) that may exert potential 影響之風險（包括環境、社會及管治風險），評估監impacts on the Company and its operation and evaluate and monitor 控環境和流程方面的風險。通過比較風險評估結risks in the environment and process. Through comparison of the risk 果，排列風險優先次序，釐定風險管理策略及內部appraisal results and risk prioritization risk management strategies 監控程序，以防止、避免或降低風險。
and internal control procedures are determined to prevent avoid or
reduce risks.Major risks (including environmental social and governance risks) 主要風險（包括環境、社會及管治風險）與相關監控
and related control measures are reviewed and upgraded on an 措施，均持續檢討和更新，以確保設有適當的內部ongoing basis to ensure proper internal control procedures in place. 監控程序。根據測試結果，於出現任何重大變動Based on the testing results persons in charge confirm with the 時，有關的負責人員向高層管理人員確認內部監控senior management that internal control measures have played 措施發揮預期作用，或已在確定的監控弱點予以糾their roles as expected their weakness identified in the control have 正，修訂風險管理政策及內部監控程序。董事會及been corrected and risk management policies and internal control 審核委員會監督管理層的監控活動以致監控措施的
procedures have been revised in the event of any major changes. 成效。
The Board and the audit committee supervise the control activities
of the management team to ensure the effectiveness of the control
measures.Annual Assessment 年度評估
In 2023 the Board reviewed the soundness and effectiveness of the 二零二三年，董事會已對集團的風險管理及內部控Group’s risk management and internal control systems covering 制體系（包括財務、經營及合規控制）的健全性和有
financial operational and compliance control with a self-evaluation 效性進行了檢討，並出具了內部控制自我評價報report issued on the internal control. In addition the Company 告。同時，公司還聘請了審計師對公司財務報告相engaged an auditor to audit the effectiveness of the internal control 關的內部控制有效性進行審計，以審計報告的形式related to the Company’s financial reports and to provide independent 提供獨立客觀的評價與建議。董事會認為，公司的and objective assessments and suggestions in the form of audit 風險管理及內部控制體系有效且充分。
report. The Board considers that the Company’s risk management and
internal control systems are effective and adequate.Internal Audit 內部審核
The Group has an internal audit department which equips with an 本集團設有審計部門，推行獨立的內部審計制度，independent internal audit system and plays an important role in 在本集團的風險管理及內部監控框架扮演重要角
the Group’s risk management and internal control framework. The 色。該部門直接向審核委員會匯報，內部審核部門department reports directly to the audit committee. The annual and 的年度、季度工作計劃報審核委員會審閱，並定quarterly work plans of the internal audit department are reviewed by 期向審核委員會作出報告，重要審核發現需及時報the audit committee and reported to the audit committee regularly. 告，由審核委員會審議後向董事會、管理層提出建Major audit findings shall be reported on a timely basis. Based on 議，並通過後續跟蹤的方式檢討整改計劃的落實情its consideration the audit committee will provide advice to the 況。
Board and the senior management with subsequent follow-up
measures taken to review the implementation of the rectification and
improvement plans.Annual Report 2023二零二三年年報85
Corporate Governance Report企業管治報告
Disclosure of Inside Information 披露內幕消息
The Group has put in place a set of policy for the disclosure of inside 本集團制定一套有關披露內幕消息的政策，載列符information which sets out the procedures and internal controls for the 合（香港法例第571章）證券及期貨條例及時處理及
handling and dissemination of inside information in a timely manner 發佈內幕消息的程序及內部監控措施。除非內幕消and in compliance with the Securities and Futures Ordinance (Chapter 息屬於證券及期貨條例所允許任何安全港範圍內，
571 of the Laws of Hong Kong). Unless the inside information falls 否則本集團需透過香港聯交所營運之電子登載系統
within any of the safe harbors as permitted under the Securities 及時向公眾人士發佈有關資料。所有董事、高級管and Futures Ordinance the Group is required to disseminate such 理人員及相關僱員須在刊發公佈前採取合理預防措
information through the electronic publication system operated by 施，將內幕消息及相關公佈（如適用）保密。倘本集the Hong Kong Stock Exchange to the public in a timely manner. All 團認為無法維持必要的保密程度，本集團將及時在Directors senior management and relevant employees are required 合理可行情況下盡快向公眾披露有關資料。該政策to take reasonable precautions for preserving the confidentiality of 及其有效性須進行定期檢討。
inside information and the relevant announcement (if applicable)
before publication. If the Group believes that the necessary degree
of confidentiality cannot be maintained the Group will in a timely
manner disclose the information to the public as soon as reasonably
practicable. The policy and its effectiveness are subject to review on a
regular basis.Whistleblowing and Anti-corruption Policy 舉報及反貪污政策
The Company has zero-tolerance towards corruption implements 本公司對貪腐零容忍，全員反腐，褒獎舉報人。
anti-corruption policies that apply to all staff and rewards the
whistleblowers.The Company formulated a series of rules and measures including the 本公司制定了《比亞迪行為準則》、《比亞迪公司員工BYD Code of Conduct BYD Employee Professional Ethic Guidelines 職業道德規範》及《比亞迪公司員工對外公務交往管and BYD Guidelines for Employee Business Activities with External 理規定》等一系列規章制度，嚴格禁止提供、接受、Entities to prohibit any offering accepting or claiming bribery 索取賄賂、禮物、招待或其它形式的，意在影響或gifts hospitality and any other form of activity intended to affect the 可能影響比亞迪相關業務決定的，獲取非正常或不Company’s relevant business decision for abnormal or inappropriate 適當優勢的做法。
advantages.The Company also established BYD Whistleblower Protection and 本公司還制定了《比亞迪公司舉報人保護和獎勵規Incentive Measures and opened special channels for honesty issues 定》，並開設專門的廉潔問題舉報渠道（包括電話、reporting (including via telephone email WeChat official account) 郵箱、微信公眾號等），鼓勵舉報人參與到本公司廉to encourage whistleblowers to perform the honesty supervision 潔監督體系中，積極舉報貪污、腐敗等違法違規行system of the Company and actively report cases of embezzlement 為和其他違反本公司規章製度的行為。本公司每年corruption and other violations of laws regulations and the rules and 檢討該等舉報及反貪污政策。
measures of the Company. These whistleblowing and anti-corruption
policies are reviewed on an annual basis.For further details please refer to the section headed “Compliance 更多詳情，請參閱本公司二零二三年環境、社會及Operation and Business Ethics” in the 2023 environmental social and 管治報告合規經營與商業道德一節。
governance report of the Company.86 BYD Company Limited比亞迪股份有限公司
Corporate Governance Report企業管治報告
DIRECTORS’ SECURITIES TRANSACTIONS 董事的證券交易
The Company has adopted the Model Code for Secur i t ies 本公司已採納上市規則附錄C3所載上市發行人董事
Transactions by Directors of Listed Issuers (the “Model Code”) 進行證券交易的標準守則（「標準守則」），作為本公司contained in Appendix C3 of the Listing Rules as the Company’s code 董事進行有關證券交易的行為守則。在向所有的董of conduct regarding securities transactions by its Directors. Having 事作出特定查詢後，於年內，無任何本公司董事買made specific inquiry of all Directors the Company confirmed that 賣本公司證券，且所有董事均已遵守標準守則項下none of the Directors have purchased or sold any securities of the 的義務。
Company and all Directors have complied with their obligations under
the Model Code during the Year.Specified employees who are likely to be in possession of unpublished 可能擁有本集團尚未公佈內幕消息的指定人士亦須
inside information of the Group are also subject to compliance with 遵守標準守則條款。於二零二三年，本公司並無發the Model Code. No incident of non-compliance was noted by the 現違規事件。
Company in 2023.SHAREHOLDERS’ RIGHTS 股東權利
Under the Articles any one or more Shareholders holding not less 根據公司章程，持有本公司附有可於本公司股東大than one-tenth of the paid-up capital of the Company carrying the right 會上投票權利的已繳股本不少於百分之十的任何一
of voting at general meetings of the Company shall at all times have 名或多名股東，將可隨時要求董事會召開股東特別the right by written requisition to the Board to require an extraordinary 大會，以審議要求中所指明的任何事項。
general meeting to be called by the Board for considering any matters
specified in such requisition.Any Shareholder holding not less than 1% of the paid-up share capital 持有本公司附有可於本公司股東大會上投票權利的
of the Company carrying the right of voting at general meetings of the 已繳股本不少於百分之一的任何一名股東，可以作Company may as a proxy solicitor publicly request and authorize 為徵集人，自行或者委託證券公司、證券服務機either by himself/herself or by appointing a securities company 構，公開請求公司股東委託其代為出席股東大會，or securities service institute the Shareholders to attend general 並代為行使提案權、表決權等股東權利。
meetings and exercise the right to make proposals right to vote and
other rights of Shareholders.Any one or more Shareholders holding not less than 3% of the paid-up 持有本公司附有可於本公司股東大會上投票權利的
capital of the Company carrying the right of voting at general meetings 已繳股本不少於百分之三的任何一名或多名股東，of the Company may make a provisional proposal and submit it in 可以在股東大會召開10日前提出臨時提案並書面提
writing to the convener of the meeting ten days prior to the date of the 交會議召集人；召集人應當在收到提案後2日內發出
general meeting. The convener shall within two days upon receipt of 股東大會補充通知，公告臨時提案的內容。
the proposal issue a supplementary notice of the general meeting
announcing the contents of such provisional proposal.Furthermore a Shareholder may propose a person other than a 此外，股東可推舉一名本公司退任董事以外之人士retiring Director for election as a Director at a general meeting. For 於股東大會上參選董事。就此目的而言，股東須於such purpose the Shareholder must send to the Board a notice in 不早於寄發有關股東大會通告翌日，亦不遲於有關writing of the intention to propose a person for election as a Director 股東大會之日期前七日，向董事會送達表明提名參and notice in writing by that person of his or her willingness to be so 選董事人選意向之書面通知以及該獲提名人士發出
elected no earlier than the day after the dispatch of the notice of the 表明其參選意願之書面通知。
relevant general meeting and not later than 7 days prior to the date
appointed for the relevant general meeting.Annual Report 2023二零二三年年報87
Corporate Governance Report企業管治報告
Shareholders may send their requisitions and inquiries requiring the 股東可將其需要董事會關注的申請書及查詢寄至本
Board’s attention to the company secretary at the Company’s principal 公司的公司秘書，地址為本公司於香港的主要營業place of business in Hong Kong at Unit 1712 17th Floor Tower 2 地點香港新界沙田鄉事會路138號新城市中央廣場二
Grand Central Plaza No. 138 Shatin Rural Committee Road New 期17樓1712室。其他一般查詢可透過本公司的投資Territories Hong Kong. Other general inquiries can be directed to the 者及傳媒關係顧問交予本公司。投資者及傳媒關係Company through our investor and media relations consultant whose 顧問的聯絡資料已在本年報「公司資料」一節披露。
contact information is disclosed in the section headed “CorporateInformation” of this annual report.INVESTOR RELATIONS 與投資者的關係
The Company believes that effective communication with investors is 本公司相信，與投資者的有效溝通對增進投資者對essential for enhancing investors’ knowledge and understanding of the 本公司的認識及暸解乃至關重要。為達致該目標，Company. To achieve this the Company pursues a proactive policy in 本公司實施促進投資者關係及溝通的積極政策。因promoting investor relations and communications. The main purpose 此，本公司的投資者關係政策主要乃旨在讓投資者of the Company’s investor relations policy therefore is to enable 可公平和及時取得作出最佳投資決策時所合理需要
investors to have access on a fair and timely basis to information that 的資料。
is reasonably required for making the best investment decisions.Information relating to the Group is mainly communicated to 本公司主要通過在本公司及香港聯交所網站刊發通
Shareholders and investors through publicat ion of not ices 告、公告及通函，向股東寄發中期報告、年度報告announcements and circulars at the websites of the Company and the 及通函，以及業績說明會、投資者調研、日常郵件Hong Kong Stock Exchange and despatch of interim reports annual 及電話詢問等方式向股東及投資者提供有關本集團
reports and circulars to the Shareholders as well as performance 的資料，解答股東疑問。本公司遵照上市規則舉行presentations investor surveys and regular email/phone contacts 股東大會，確保與股東的溝通互動。
where Shareholders’ inquiries will be answered. Shareholders’ general
meetings are held in compliance with the Listing Rules and other
legal requirements to ensure communication and interaction with
Shareholders.The Board reviews the investor relations policy on an annual basis 董事會每年檢討投資者關係政策，並作出其認為必and makes any changes it considers necessary to ensure its 要的任何變動，確保有關政策的有效性及股東及投effectiveness and that the legal interests of Shareholders and investors 資者的合法權益得到充分保障。
are substantially protected.The Board has conducted a review of the implementation and 董事會已檢討本公司投資者關係政策的實施情況及
effectiveness of the investor relations policy of the Company. Having 有效性。經考慮已落實多元化的溝通渠道，董事會considered the diverse channels of communication in place the Board 信納截至二零二三年十二月三十一日止年度已妥善
is satisfied that an effective investor relations policy has been properly 實施有效的投資者關係政策。
implemented throughout the year ended 31 December 2023.During the Year there was no material change to the Articles. 年內，本公司章程並無任何重大變動。88 BYD Company Limited比亞迪股份有限公司Report of the Directors董事會報告
The board of directors of the Company (the “Board”) agreed to hereby 本公司董事（「董事會」）同意謹將比亞迪股份有限公司
submit the annual report together with the audited consolidated （以下簡稱「本公司」）及其附屬公司（連同本公司統稱financial statements of BYD Company Limited (the “Company”) and 「本集團」）截至二零二三年十二月三十一日止年度報
its subsidiaries (together with the Company hereinafter collectively 告連同已經審核的合併財務報表呈覽。
referred to as the “Group”) for the year ended 31 December 2023.PRINCIPAL ACTIVITIES AND GEOGRAPHICAL 主要業務及營運地區的分析
ANALYSIS OF OPERATIONS
The Group is principally engaged in automobiles and batteries 本集團的主要業務為汽車及電池業務、手機部件及
business handset components and assembly services while taking 組裝業務，同時利用自身的技術優勢積極拓展城市advantage of its technological superiority to actively develop urban 軌道交通及其他業務領域，而本公司的附屬公司的rail transportation and other business segment. The activities of the 業務則詳載於財務報表附註八、1。截至二零二三年
Company’s subsidiaries are set out in note VIII.1 to the financial 十二月三十一日止年度，本集團主要業務性質並無statements. There were no significant changes in the nature of the 重大改變。有關主要業務的進一步討論及分析，詳Group’s principal activities for the year ended 31 December 2023. 見載於本年報第20頁至54頁的管理層討論及分析。
Further discussion and analysis of principal activities are set out in
the Management Discussion and Analysis on pages 20 to 54 of this
annual report.An analysis of the Group’s performance for the year ended 31 截至二零二三年十二月三十一日止年度按業務類型
December 2023 by business and geographical segments of 及營運地區分類的本集團業績表現分析載於財務報
operations is set out in note XVI.1 to the financial statements. 表附註十六、1。
RESULTS AND APPROPRIATIONS 業績及分配
The results of the Group for the year ended 31 December 2023 are set 本集團截至二零二三年十二月三十一日止年度的業
out in the consolidated financial statements and their notes on pages 績載於本年報合併財務報表及其附註第115頁至第
115 to 352 of this annual report. 352頁。
Dividend Distribution Policy 派付股息政策
(I) The Company’s profit distribution policy shall focus on providing （一） 公司股息政策應重視對投資者的合理投資回
investors with reasonable investment returns as well as 報，並兼顧公司的可持續發展，公司股息分maintaining the sustainable development of the Company. The 派不得超過累計可分配利潤的範圍，不得損Company’s profit distribution shall not exceed the range of the 害公司持續經營能力，實行持續、穩定的股accumulated distributable profits or damage the Company’s 息分配政策。
ability to operate. A sustainable and steady profit distribution
policy shall be implemented.Annual Report 2023二零二三年年報89
Report of the Directors董事會報告
(II) The Company may distribute dividends in cash in shares （二） 公司可以採取現金、股票、現金與股票相結
or in a combination of both cash and shares or as otherwise 合或者法律、法規允許的其他方式分派股
permitted by the laws and regulations. When the conditions for 息。在滿足現金分紅的條件下，應優先採用cash dividend are satisfied cash dividend shall be the priority 現金分紅的方式分配股息。
method of profit distribution.(III) The Company’s profit distribution shall be prepared by the （三） 公司股息分派由董事會根據公司經營狀況和
Board in accordance with the Company’s operating conditions 中國政監會的有關規定擬定，由股東大會審and the relevant requirements of China Securities Regulatory 議決定。
Commission and shall be considered and approved at the
Shareholders’ general meeting.After the profit distribution plan is approved at the general 公司股東大會對利潤分配方案作出決議後，meeting of the Company the Board shall complete the 公司董事會須在股東大會召開後2個月內完
distribution of dividends within two months after convening the 成股息的派發事項。
Shareholders’ general meeting.(IV) The profit distributed by the Company in cash each year （四） 公司在滿足下列現金分紅條件，且滿足公司shall not be less than 10% of the realized distributable 正常生產經營和發展的資金需求情況下，每profit for the year provided that the following cash dividend 年以現金方式分配的利潤應不低於當年實現
conditions are satisfied and the capital needs for the normal 的可分配利潤的10%，任意連續三年以現金production operation and development of the Company are 方式累計分配的利潤應不少於該三年實現的
met. The cumulative profit for distribution in cash for any three 年均可分配利潤的30%：
consecutive years shall not be less than 30% of the average
annual distributable profit for such three years:
(1) The distributable profit (i.e. the Company’s profit after (1) 公司該年度或半年度實現的可分配利tax net of loss and contribution of reserve funds) 潤（即公司彌補虧損、提取公積金後realized by the Company for the year or half year 所餘的稅後利潤）為正值且現金流充
is positive in value and the cash flow is sufficient. 裕，實施現金分紅不會影響公司後續The payment of cash dividends will not affect the 持續經營；
subsequent continuing operation of the Company;
(2) The cumulative distributable profit of the Company is (2) 公司累計可供分配利潤為正值；
positive in value;
(3) The audit firm issues an unqualified audit report on the (3) 審計機構對公司的該年度財務報告出
financial report of the Company for the year. 具標準無保留意見的審計報告。
(V) The Board may propose to the Company to make interim cash （五） 在滿足現金分紅條件下，公司董事會可以根distribution according to the Company’s earnings and capital 據公司的盈利狀況及資金需求狀況提議公司
requirement conditions provided that the cash dividend 進行中期現金分配。
conditions are satisfied.90 BYD Company Limited比亞迪股份有限公司
Report of the Directors董事會報告
(VI) Depending on the profitability and business growth for the （六） 公司可以根據年度的盈利情況及業績增長狀
year the Company may distribute profits by way of shares to 況，在滿足最低現金分紅比例和公司股本規match share capital expansion with business growth provided 模及股權結構合理的條件下，為保持股本擴that the minimum cash dividend payout ratio and an optimal 張與業績增長相適應，公司可以採用股票股share capital base and shareholding structure are maintained. 利方式進行利潤分配。
(VII) When considering and conducting profit distribution the Board （七） 在考慮及實際分紅時，公司董事會應當考慮shall take into account certain circumstances and factors as 不時修訂的公司章程中列出的情況及因素。
set out in the Articles as amended from time to time.(VIII) According to the existing profit distribution policy of the （八） 依照本公司目前的股息分派政策，公司向內Company the Company shall calculate declare and pay 資股股東支付股利以及其他款項，以人民幣dividends and other amounts which are payable to holders of 計價和宣佈，在公司章程規定的期限內用人domestic shares in Renminbi within the period as prescribed 民幣支付；公司向外資股股東支付股利及其
by the Articles. The Company shall calculate and declare 他款項，以人民幣計價和宣佈，在不時修訂dividends and other payments which are payable to holders of 的公司章程規定的範圍和期限內以相應幣種
overseas-listed foreign shares in Renminbi and shall pay such 支付。兌換率應以宣派股利或其他分派當日amounts in the corresponding currencies within the scope 前五個工作天中國人民銀行所報的相關外幣
and the period as prescribed by the Articles as amended 兌人民幣的平均收市價折算，公司需向外資from time to time. The applicable exchange rate shall be 股股東支付的外幣，應當按照國家有關外匯the average closing rate for the relevant foreign currency 管理的規定辦理。經股東大會授權，董事會announced by the People’s Bank of China of the five working 可決定分配中期股利或紅利。
days prior to the announcement of payment of dividend and
other amounts. The Company shall pay foreign currencies to
holders of overseas-listed foreign shares in accordance with
the relevant foreign exchange control regulations of the State.Authorised by general meetings the Board may determine to
distribute interim dividends or bonuses.The Board has resolved to recommend the payment of final dividend 董事會已議決建議派發截至二零二三年十二月三十
of RMB3.096 per share (including tax) for the year ended 31 一日止年度末期股息每股人民幣3.096元（包含稅項）December 2023 (for the year ended 31 December 2022: the payment （截止二零二二年十二月三十一日止之年度：派發每of RMB1.142 per share (including tax)). If there is a change in the 股人民幣1.142元（包含稅項））。如實施權益分派股total share capital of the Company on the date of registration of 權登記日公司總股本發生變動，公司擬維持分配總the implementation of the equity distribution the Company intends 額不變，相應調整每股分配金額。建議末期股息須to maintain the total distribution amount unchanged and adjusts 待本公司將召開的股東週年大會（「股東週年大會」）上
the distribution amount per share accordingly. The proposed 審議及批准後方可作實。
final dividend is subject to the consideration and approval of the
Shareholders at the forthcoming annual general meeting (the “AGM”)
of the Company.The Company will publish announcement circular and notice 本公司將根據上市規則及本公司的組織章程細則就
regarding the AGM in accordance with the Listing Rules and the 股東週年大會刊發公告、通函及股東週年大會通
Articles. The Company will also make separate announcement 告。本公司亦將另行刊發有關記錄日期及因向H股股regarding the record date and date of closure of register of members 東派付末期股息而暫停辦理股份過戶登記手續的日
for the payment of the final dividend to the holders of H shares. It is 期的公告。預期末期股息將於二零二四年八月六日expected that the final dividend will be distributed before 6 August 前分派。
2024.Annual Report 2023
二零二三年年報91
Report of the Directors董事會報告
The final dividend will be denominated and declared in RMB. The 末期股息將以人民幣計值和宣派，以人民幣向A股股holders of A shares will be paid in RMB and the holders of H shares 東發放，以港元向H股股東發放。以港元發放的股息will be paid in Hong Kong dollars. The exchange rate for the dividend 計算的匯率以在特別股東大會宣派股息日之前五個
to be paid in Hong Kong dollars will be the mean of the exchange 工作日的中國人民銀行公佈的港元兌換人民幣平均
rates of Hong Kong dollar to RMB as announced by the People’s Bank 基準匯率為準。
of China during the five business days prior to the date of declaration
of the dividend at the extraordinary general meeting.In accordance with the Enterprise Income Tax Law of the People’s 根據自二零零八年一月一日起施行的《中華人民共和Republic of China and its implementation regulations which came into 國企業所得稅法》及其實施條例，本公司向名列於Heffect on 1 January 2008 the Company is required to withhold and 股股東名冊上的非居民企業股東派發現金股息時，pay enterprise income tax at the rate of 10% on behalf of the non- 有義務代扣代繳企業所得稅，稅率為10%。任何以resident enterprise Shareholders whose names appear on the register 非個人股東名義，包括以香港中央結算（代理人）有of members for H shares when distributing the cash dividends. Any 限公司、其他代名人、代理人或受託人、其他組織
H shares not registered under the name of an individual Shareholder 及團體名義登記的H股股份皆被視為非居民企業股東
including HKSCC Nominees Limited other nominees agents 所持的股份，因此，其應得股息將被扣除企業所得or trustees or other organisations or groups will be deemed as 稅。如H股股東需要更改股東身份，請向代理人或受shares held by non-resident enterprise Shareholders. Therefore the 託人查詢相關手續。本公司將嚴格依法或根據政府enterprise income tax will be withheld from dividends payable to such 相關部門的要求，並依照截至末期股息記錄日期的HShareholders. If holders of H shares intend to change its Shareholder 股股東名冊代扣代繳企業所得稅。
status please enquire about the relevant procedures with your
agents or trustees. The Company will strictly comply with the law or
the requirements of the relevant government authority and withhold
and pay enterprise income tax on behalf of the relevant shareholders
based on the register of members for H shares as at the record date
of the final dividend.In accordance with the Circular on Certain Issues Concerning 根據財政部、國家稅務總局於一九九四年五月十三the Policies of Individual Income Tax (Cai Shui Zi [1994] No. 020) 日發佈的《關於個人所得稅若干政策問題的通知》（財promulgated by the Ministry of Finance and the State Administration 稅字[1994]020號）的規定，外籍個人從外商投資企of Taxation on 13 May 1994 overseas individuals are temporarily 業取得的股息、紅利所得，暫免徵收個人所得稅。
exempted from the PRC individual income tax for dividend or bonuses 根據國家稅務總局於一九九四年七月二十六日發佈received from foreign-invested enterprises. In accordance with the 的《外籍個人持有中國境內上市公司股票所取得的股Letter of the State Administration of Taxation concerning Taxation 息有關稅收問題的函》（國稅函發[1994]440號）的規
Issues of Dividends Received by Foreign Individuals Holding Shares 定，對持有B股或海外股（包括H股）的外籍個人，從of Companies Listed in China (Guo Shui Han Fa [1994] No. 440) as 發行該B股或海外股的中國境內企業所取得的股息
promulgated by the State Administration of Taxation on 26 July 1994 （紅利）所得，暫免徵收個人所得稅。據此，本公司dividends (capital bonuses) received by foreign individuals holding 在派付末期股息時，本公司對名列於公司H股股東名B shares or overseas shares (including H shares) from Chinese 冊上的個人股東將不代扣代繳中國個人所得稅。
enterprises issuing such B shares or overseas shares are temporarily
exempted from individual income tax. Accordingly in the payment of
final dividends the Company will not withhold and pay the individual
income tax on behalf of individual Shareholders when the Company
distributes the final dividend to individual shareholders whose names
appear on the register of members of H shares of the Company.92 BYD Company Limited比亞迪股份有限公司
Report of the Directors董事會報告
Shareholders are recommended to consult their tax advisor regarding 股東務須向彼等的稅務顧問諮詢有關擁有及處置本
the ownership and disposal of H shares of the Company in the PRC 公司H股所涉及中國、香港及其他稅務影響的意見。
and in Hong Kong and other tax effects.BUSINESS REVIEW 業務回顧
The business review set out on pages 24 to 36 of the annual report 業務回顧載於年報第24頁至36頁，構成董事會報告shall form an integral part of this report of the Directors. 的一部分。
Principal Risks and Uncertainties Faced by the Group 本集團面對的主要風險及不確定因素
Please refer to note X to the financial statements for details of the 有關本集團所面臨主要財務風險及本集團關於該等
main financial risks faced by the Group and the Group’s management 風險的管理目標及政策的詳情，請參閱財務報表附objectives and policies regarding such risks. In addition to such 註十。除該等財務風險外，董事認為，有關政府政financial risks the Directors are of the view that any material change in 策（如中國政府的經濟發展及環境保護政策）的任何
relevant government policies (such as the PRC Government’s policies 重大變動亦為可能影響本集團業務的主要風險及不
on economic development and environmental protection) is also one 確定因素之一。
of the principal risks and uncertainties that may affect the Group’s
business.Environmental Policies 環保政策
The Group has been taking part in responding to environmental 本集團積極響應環保政策。在通過綠色產品來減少protection policies. While helping to reduce energy consumption 能耗的同時，本集團亦注重減輕其運營對環境的直through green products the Group also focuses on reducing the 接影響。比亞迪通過引進能源管理系統、推進以可direct impacts of its operation on the environment. By introducing an 再生能源替代傳統能源及通過技術與管理方式節約
energy management system promoting the replacement of traditional 能源，持續減少其自身能耗及二氧化碳排放。
energy with renewable energy and saving energy through technical
and management means BYD continues to reduce its own energy
consumption and carbon dioxide emissions.Regulatory Compliance 守則遵守情況
BYD requires stringent compliance with laws social norms 比亞迪於全球運營要求嚴格遵守法律、社會規範、
professional ethics and internal regulations in its worldwide operations. 職業道德準則及內部規定。本集團已成立風險管理The Group has established the risk management committee the 委員會、內部控制委員會及合規委員會，負責定期internal control committee and the compliance committee which 及不時監測、監督及檢查各部門的法律法規管理及
monitor supervise and inspect regularly and from time to time the 執行情況，且評估其於該等領域的執行及遵守情management and implementation of laws and regulations in various 況。於年內，本公司知悉，概無重大違反或不遵守departments and evaluate their implementation and compliance in 本集團適用法律法規，且對本集團業務及經營造成such areas. During the Year as far as the Company is aware there 重要影響的事件。
was no material breach of or non-compliance with applicable laws and
regulations by the Group that has a significant impact on the business
and operations of the Group.Annual Report 2023二零二三年年報93
Report of the Directors董事會報告
Relationship with Employees 與僱員的關係
Since employees are the foundation for development the Group 由於僱員為發展的基石，本集團於人力資源管理方adheres to the “people-oriented” principle in its human resources 面堅持「以人為本」的原則，創造平等的就業機會並management and provides equal employment opportunit ies 禁止一切職業歧視。本集團定期檢討其僱員薪酬政and prohibits any career discrimination. The Group reviews its 策，且根據年度工作表現評核，僱員會獲發花紅及employee compensation policies on a regular basis and bonuses 獎金。本集團亦於住房、交通及兒童教育等方面努and commission may be awarded to employees based on their 力幫助僱員。
annual performance evaluation. Efforts have also been made to help
employees in the aspects of housing transportation and children’s
education etc.Relationship with Customers and Suppliers 與客戶及供應商的關係
The Group strives to build and maintain long term and strong 本集團努力與客戶建立及維持長期牢固關係。比亞relationships with customers. BYD has established a customer 迪已建立一個客戶滿意度管理系統，以瞭解及滿足satisfaction management system with a view to understanding and 客戶的需求，並提高其滿意度。於供應商方面，本fulfilling customers’ demands and enhancing their satisfaction. In 集團的目的在於，與所有供應商保持互利共贏的夥terms of suppliers the Group’s objective is to keep mutually beneficial 伴關係。同時，本集團會定期評核供應商的表現（包and win-win partnerships with all suppliers. At the same time the 括供應商的社會責任）。
Group regularly evaluates the performance of our suppliers including
suppliers’ social responsibility.RESERVES 儲備
Details of movements in the reserves of the Group and the Company 本集團及本公司在本年度的儲備變動詳情載於合併
during the Year are set out in the consolidated statement of changes 權益變動表。
in equity.DONATIONS 捐款
Charitable and other donations made by the Group during the Year 本集團在年內作出慈善及其他捐贈款合共人民幣
amounted to RMB36448000 (2022: RMB71045000). 36448000元（二零二二年：人民幣71045000元）。
PROPERTY PLANT AND EQUIPMENT 物業、廠房及設備
Details of the movements in property plant and equipment of the 本集團及本公司的物業、廠房及設備的變動詳情載
Group and the Company are set out in note V.15 to the financial 於財務報表附註五、15。
statements.SHARE CAPITAL 股本
Details of the movements in share capital of the Company are set out 本公司的股本變動詳情載於財務報表附註五、39。
in note V.39 to the financial statements.During the Year neither the Company nor any of its subsidiaries 年內，本公司或其任何附屬公司均概無買賣或贖回purchased sold or redeemed any of the listed securities of the 本公司任何上市證券。
Company.94 BYD Company Limited比亞迪股份有限公司
Report of the Directors董事會報告
DISTRIBUTABLE RESERVES 可供分派儲備
Distributable reserves of the Company as at 31 December 2023 按照本公司註冊成立地點中國的適用法律計算，本calculated under the relevant legislation applicable in the PRC 公司於二零二三年十二月三十一日可供分派儲備the Company’s place of incorporation amounted to approximately 約為人民幣9077750000元（二零二二年：人民幣RMB9077750000 (2022: RMB3451208000). 3451208000元）。
BANK LOANS 銀行貸款
As at 31 December 2023 details of bank loans of the Group are set 於二零二三年十二月三十一日，本集團的銀行貸款out in notes V.24 33 35 to the financial statements. 詳情載於財務報表附註五、24、33、35。
PRE-EMPTIVE RIGHTS 優先購股權
There is no provision for pre-emptive rights under the Articles and 本公司的組織章程中並無優先購股權的條文，而中there is no similar restriction against such rights under the laws of the 國與股份有限責任公司相關的法律亦無此等權利相
PRC in respect of joint stock limited companies which would oblige 類似的限制，規定本公司須向現有股東按比例發售the Company to offer new shares on a pro-rata basis to existing 新股。
shareholders.FIVE-YEAR FINANCIAL SUMMARY 五年財務數據摘要
A summary of the results and of the assets and liabilities of the Group 本集團上五個財政年度的業績及資產負債摘要載於
for the last five financial years is set out on page 2 and 352 of this 本年報第2頁和352頁。
annual report.DIRECTORS 董事
The Directors who held office during the Year and up to the date of 年內及至本報告日期在任的董事如下：
this report are:
– Executive Director: – 執行董事：
Mr. Wang Chuan-fu 王傳福先生
– Non-executive Directors: – 非執行董事：
Mr. Lv Xiang-yang 呂向陽先生
Mr. Xia Zuo-quan 夏佐全先生
– Independent non-executive Directors: – 獨立非執行董事：
Mr. Cai Hong-ping 蔡洪平先生
Mr. Zhang Min 張敏先生
Ms. Yu Ling (appointed with effect from 19 September 2023) 喻玲女士（自二零二三年九月十九日起任職）
Mr. Jiang Yan-bo (resigned on 19 September 2023) 蔣岩波先生（自二零二三年九月十九日起離任）Annual Report 2023二零二三年年報95
Report of the Directors董事會報告
DIRECTORS’ AND SUPERVISORS’ SERVICE 董事及監事的服務合約
CONTRACTS
All existing Directors had signed or renewed their service contracts 所有現任董事已與本公司簽訂或重續彼等的服務合
or letters of appointment with the Company for a term of three years 約或委任函，由二零二三年九月十九日起計為期三commencing on 19 September 2023. 年。
All existing supervisors had signed or renewed their service or 所有現任監事已與本公司簽訂或重續彼等的服務或
employment contracts with the Company for a term of three years 僱傭合約，由二零二三年九月十九日起計為期三commencing on 19 September 2023. 年。
None of the above-mentioned contracts and letters of appointment are 上述合約及委任函為不可於一年內無須賠償（法定賠determinable within one year without payment of compensation (other 償除外）而予以終止之合約。
than statutory compensation).DIRECTORS’ INTERESTS IN CONTRACTS 董事的合約權益
No transactions arrangement or contracts of significance in relation 於年終或本年度任何時間，本集團概無簽訂任何涉to the Group’s business to which the Group was a party and in which 及本集團的業務而本公司的董事、監事及與董事或
a Director or supervisor or an entity related to a Director or supervisor 監事有關連的實體直接或間接在其中擁有重大權益
of the Company had a material interest whether directly or indirectly 的重要交易、安排或合約。
subsisted at the end of the Year or at any time during the Year.DIRECTORS’ REMUNERATION 董事酬金
The emolument payable to each executive Director is based on (i) his 應付各執行董事的酬金為根據(i)其職責及責任；(ii)
duties and responsibilities; (ii) prevailing market conditions; and (iii) 現行市況；及(i i i)本公司的業績表現及盈利能力而
performance and profitability of the Company. 定。
The emolument payable to each non-executive Director (including 應付各非執行董事（包括獨立非執行董事）的酬金為
independent non-executive Director) is based on his responsibilities 根據其責任及向董事會作出的承諾，並計及其經驗and undertaking to the Board taking into account his experience and 及市場有關該職位的慣例。
market practice for such post.Details of the remuneration of the Directors are set out on page 65 of 有關董事的酬金詳情載於本年報第65頁。
this annual report.BIOGRAPHICAL DETAILS OF DIRECTORS 董事、監事及高級管理層的個人簡歷
SUPERVISORS AND SENIOR MANAGEMENT
Brief biographical details of Directors supervisors and senior 本公司董事、監事及高級管理層的個人簡歷載於年
management of the Company are set out on pages 55 to 64 of this 報第55頁至第64頁。
annual report.96 BYD Company Limited比亞迪股份有限公司
Report of the Directors董事會報告
DIRECTORS’ SUPERVISORS’ AND CHIEF EXECUTIVES’ 董事、監事及最高行政人員的權益
INTERESTS
As at 31 December 2023 the interests and short positions of each 於二零二三年十二月三十一日，本公司董事、監事of the Directors supervisors and chief executives of the Company in 及最高行政人員各自於本公司或任何相聯法團（定義the shares underlying shares and debentures of the Company or any 見香港法例第571章證券及期貨條例（「證券及期貨條associated corporation (within the meaning of Part XV of the Securities 例」）第XV部）的股份、相關股份及債券中擁有根據證
and Futures Ordinance (Cap 571 of the Laws of Hong Kong) (“SFO”)) 券及期貨條例第XV部第7及8分部須知會本公司及香
which were required to be notified to the Company and The Stock 港聯合交易所有限公司（「香港聯交所」）的權益及淡倉Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) （包括根據證券及期貨條例有關條文持有或被視為擁pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests 有的權益），或根據證券及期貨條例第352條須記錄which he is taken or deemed to have under such provisions of the 於指定登記冊，或根據上市規則的標準守則須知會SFO) or were required pursuant to Section 352 of the SFO to be 本公司及香港聯交所的權益及淡倉（就此目的而言，entered into the register referred to therein or which were required 證券及期貨條例的相關條文將詮釋為適用於監事）如
pursuant to the Model Code under Listing Rules to be notified to the 下：
Company and the Hong Kong Stock Exchange (for this purpose the
relevant provisions of the SFO will be interpreted as if they applied to
the supervisors) were as follows:
A shares of RMB1.00 each 每股人民幣1.00元之A股
Approximate Approximate
percentage of percentage of
shareholding shareholding
in total issued in total issued
A shares (%) share capital (%)
Number of 持股量佔已發行 持股量佔已發行
A shares A股總數的 股本總額的
Name 姓名 A股數目 概約百分比(%) 概約百分比(%)
Wang Chuan-fu 王傳福 513623850 (L) 28.33% 17.64%
(Director and President) （董事兼總裁） (Note 1)（附註1）
Lv Xiang-yang (Director) 呂向陽（董事） 394378222 (L) 21.75% 13.55%
(Note 2)（附註2）
Xia Zuo-quan (Director) 夏佐全（董事） 82635607 (L) 4.56% 2.84%
(L) – Long Position (L) – 好倉Annual Report 2023二零二三年年報97
Report of the Directors董事會報告
Notes: 附註：
1. The 513623850 A shares did not include the 3727700 A shares 1. 在該513623850股A股之中，不包含王傳福先
held by Mr. Wang Chuan-fu in No.1 Assets Management Plan 生通過易方達資產比亞迪增持1號資產管理計劃
through E Fund BYD; 持有的3727700股A股股份；
2. Of the 394378222 A shares 239228620 A shares were held 2. 在該394378222股A股之中，239228620股A
by Mr. Lv Xiang-yang in his personal capacity and 155149602 股由呂向陽先生以個人身份持有及155149602A shares were held by Youngy Investment Holding Group Co. 股A股由融捷投資控股集團有限公司（融捷投Ltd. (融捷投資控股集團有限公司) (“Youngy Investment” formerly 資，前稱為廣州融捷投資管理集團有限公司）持known as Guangzhou Youngy Management & Investment Group 有。融捷投資則由呂向陽先生及其配偶分別持Company Limited). Youngy Investment was in turn held by Mr. 有89.5%股權及10.5%股權，因此根據證券及期Lv Xiang-yang and his spouse as to 89.5% and 10.5% of equity 貨條例，呂向陽先生被視為於155149602股Ainterests respectively. Mr. Lv Xiang-yang was therefore deemed to 股中擁有權益。
be interested in the 155149602 A shares under the SFO.H shares of RMB1.00 each 每股人民幣1.00元之H股
Approximate Approximate
percentage of percentage of
shareholding shareholding
in total issued in total issued
H shares (%) share capital (%)
Number of 持股量佔已發行 持股量佔已發行
H shares H股總數的 股本總額的
Name 姓名 H股數目 概約百分比(%) 概約百分比(%)
Wang Chuan-fu 王傳福 1000000 (L) 0.09% 0.03%
(Director and President) （董事兼總裁）
Xia Zuo-quan (Director) 夏佐全（董事） 500000 (L) 0.05% 0.02%
(Note)（附註）
(L) – Long Position (L) – 好倉
Note: 附註：
Of the 500000 H shares 195000 H shares were held by Mr. Xia Zuo- 於500000股H股中，夏佐全先生以實益擁有人身份quan as a beneficial owner and 305000 H shares were held by Sign 持有195000股H股，而由夏佐全先生全資擁有的Investments Limited which was wholly-owned by Mr. Xia Zuo-quan. Sign Investments Limited則持有305000股H股。
Saved as disclosed above as at 31 December 2023 none of the 除上述披露者外，於二零二三年十二月三十一日，Directors supervisors or chief executives of the Company had 概無本公司董事、監事或最高行政人員於本公司或
any interest or short position in the shares underlying shares or 其任何相聯法團（定義見證券及期貨條例第XV部）的
debentures of the Company or any of its associated corporations 股份、相關股份或債權證中擁有權益或淡倉而須(a)
(within the meaning of Part XV of the SFO) which was required to be 記錄於本公司根據證券及期貨條例第352條存置的登
(a) recorded in the register to be kept by the Company pursuant to 記冊內；或(b)根據標準守則須知會本公司及香港聯
Section 352 of the SFO; or (b) notified to the Company and the Hong 交所。
Kong Stock Exchange pursuant to the Model Code.98 BYD Company Limited比亞迪股份有限公司
Report of the Directors董事會報告
SHAREHOLDERS WITH NOTIFIABLE INTERESTS 擁有須予知會權益的股東
As at 31 December 2023 to the knowledge of the Directors of the 於二零二三年十二月三十一日，就本公司董事所Company the following persons (other than the directors supervisors 知，以下人士（不包括本公司董事、監事及最高行政and chief executives of the Company) had interests or short positions 人員）於本公司股份及相關股份中擁有根據證券及期
in the shares and underlying shares of the Company which were 貨條例第XV部第2及3分部須向本公司及香港聯交所
required to be disclosed to the Company and the Hong Kong Stock 披露或根據證券及期貨條例第336條載入本公司存置
Exchange under the provisions of Divisions 2 and 3 of Part XV of 的登記冊的權益或淡倉：
the SFO or were required to be entered in the register kept by the
Company pursuant to Section 336 of the SFO:
1. A shares of RMB1.00 each 1. 每股人民幣1.00元的A股
Approximate Approximate
percentage of percentage of
shareholding shareholding
in total issued in total issued
A shares (%) share capital (%)
Number of 持股量佔已發行 持股量佔已發行
A shares A股總數的 股本總額的
Name 姓名 A股數目 概約百分比(%) 概約百分比(%)
Youngy Investment (Note) 融捷投資（附註） 155149602 (L) 8.56% 5.33%
(L) – Long Position (L) – 好倉
Note: 附註：
Youngy Investment is owned by Mr. Lv Xiang-yang a non-executive 融捷投資由非執行董事呂向陽先生擁有89.5%權益。因Director as to 89.5%. Mr. Lv is therefore deemed to be interested in the 此，根據證券及期貨條例，呂先生被視為於融捷投資持
155149602 A shares held by Youngy Investment under the SFO. 有的155149602股A股中擁有權益。Annual Report 2023
二零二三年年報99
Report of the Directors董事會報告
2. H shares of RMB1.00 each 2. 每股人民幣1.00元的H股
Approximate Approximate
percentage of percentage of
shareholding shareholding
in total issued in total issued
H shares (%) share capital (%)
Number of 持股量佔已發行 持股量佔已發行
H shares H股總數的 股本總額的
Name 姓名 H股數目 概約百分比(%) 概約百分比(%)
Berkshire Hathaway Inc. Berkshire Hathaway 87613142 (L) 7.98% 3.01%
(Note 1) Inc（. 附註1）
Berkshire Hathaway Energy Berkshire Hathaway 87613142 (L) 7.98% 3.01%
Company (Note 1) Energy Company（附註1）
Western Capital Group LLC Western Capital 87613142 (L) 7.98% 3.01%
(Note 1) Group LLC（ 附註1）
BlackRock Inc. BlackRock Inc. 73212031 (L) 6.67% 2.51%
(Note 2) （附註2） 354000 (S) 0.03% 0.01%
(L) – Long Position (L) – 好倉
(S) – Short position (S) – 淡倉
Notes: 附註：
1. According to the disclosure of interests notice filed on 30 October 1. 根據於二零二三年十月三十日提交的披
2023 Berkshire Hathaway Inc. and Berkshire Hathaway Energy 露權益通知B e r k s h i r e H a t h a w a y I n c .及Company (formerly known as MidAmerican Energy Holdings Berkshire Hathaway Energy Company（原名Company) were deemed to be interested in 87613142 H 為MidAmerican Energy Holdings Company）
shares (L) held through Western Capital Group LLC its indirectly 分別被視為透過其間接控制公司及全資持有公
controlled corporation and wholly-owned company for 87613142 司Western Capital Group LLC所直接持有的
H shares directly held by it respectively. 87613142股H股，於87613142股H股(L)之中擁有權益。
2. The interests of BlackRock Inc. were held through its various 2. BlackRock Inc.的權益乃通過其各控制公司持
controlled corporations and of which 323000 shares (L) were 有，其中323000股好倉為現金結算非上市衍生cash settled unlisted derivatives and 354000 shares (S) were 工具，及354000股淡倉為現金結算非上市衍生cash settled unlisted derivatives. 工具。
The total issued share capital of the Company as at 31 December 於二零二三年十二月三十一日，本公司已發行股本
2023 was RMB2911142855 divided into 1813142855 A shares of 總額為人民幣2911142855元，分為1813142855
RMB1.00 each and 1098000000 H shares of RMB1.00 each all fully 股每股面值人民幣1.00元的A股及1098000000股
paid up. 每股面值人民幣1.00元的H股，全部均為實收資本。100 BYD Company Limited比亞迪股份有限公司Report of the Directors董事會報告
PERMITTED INDEMNITY PROVISION 獲准許之彌償條文
Pursuant to the Articles the Company may take out liability insurance 根據本公司公司章程，經股東大會批准，本公司可for the Directors and other senior management members with the 以為董事和其他高級管理人員購買責任保險，為彼content of the Shareholders’ general meeting to provide appropriate 等提供適當保障。
cover for them.The Company has taken out and maintained directors’ liability 本公司在報告期內已投保責任險，為公司董事及高insurance during the Reporting Period which provides appropriate 級管理人員提供適當的保障。
cover for the Directors and other senior management members of the
Company.At no time during the financial year and up to the date of this report 於本財政年度及直至本報告日期止任何時間，概不there was or is any permitted indemnity provision being in force for 存在任何以本公司任何董事（不論是否由本公司或以the benefit of any of the directors of the Company (whether made by 其他方式制定）或聯營公司（倘由本公司制定）為受益
the Company or otherwise) or an associated company (if made by the 人的獲准許彌償條文。
Company).MANAGEMENT CONTRACTS 管理合約
No contract concerning the management or administration of the 年內，本公司並無就整體業務或任何重要業務的管whole or any substantial part of the business of the Company was 理或行政工作簽訂或存有任何合約。
entered into or existed during the Year.COMPETING BUSINESS 競爭業務
During the financial year no Directors acquired benefits by engaging 於本財政年度，概無董事從事與本公司或其任何附in business that competes with that of the Company or its subsidiaries. 屬公司競爭業務中取得利益。
In September 2009 Mr. Wang Chuan-fu the controlling shareholder of 二零零九年九月，本集團控股股東王傳福先生簽署the Group signed the Non-competition Undertakings to confirm with 《不競爭承諾》，向本公司確認其遵守不參與競爭the Company that he would abide by the undertaking of not engaging 事業的承諾。董事（包括獨立非執行董事）已審核遵in business that competes with that of the Company. Directors 守情況並確認控股股東已遵守不競爭契約的所有承
including independent non-executive Directors have examined his 諾。
compliance and confirmed that the controlling shareholder has abided
by all the undertakings.RETIREMENT SCHEME 退休計劃
Currently all PRC subsidiaries of the Group participate in defined 現時本集團的各中國附屬公司參與一些由中國當地contribution retirement schemes (the “Schemes”) launched by local 省市政府機關籌辦的定額供款退休福利計劃（「該等provincial and municipal governments in China pursuant to which the 計劃」），據此，本集團須按合資格僱員薪金的適用Group makes contributions to the Schemes in accordance with the 比率向該等計劃作出供款。地方政府機關就應付退applicable percentage of the salary of eligible staff. Local government 休僱員的全部退休金承擔責任。
authorities assume the obligation in respect of all the pensions
payable to retired staff.Save for the above contributions the Group does not have any other 除上述供款外，本集團並無其他的重大退休金福利major payment obligation in respect of pension benefits. 付款責任。Annual Report 2023二零二三年年報101
Report of the Directors董事會報告
MAJOR CUSTOMERS AND SUPPLIERS 主要客戶及供應商
The percentage of purchases and sales for the year ended 31 本集團的主要供應商及客戶佔截至二零二三年十二
December 2023 attributable to the Group’s major suppliers and 月三十一日止年度的採購額及銷售額百分比如下：
customers are as follows:
Purchases 採購額
– t he largest supplier －最大供應商 9.72%
– t he five largest suppliers combined －五位最大供應商合計 20.17%
Sales 銷售額
– t he largest customer －最大客戶 10.52%
– t he five largest customers combined －五位最大客戶合計 17.34%None of the Directors their close associates or any Shareholder 董事、彼等的緊密聯繫人或任何股東（指據董事所知(who to the knowledge of the Directors owns more than 5% of the 擁有本公司5%以上已發行股本的股東）並無於上述
Company’s issued share capital) had an interest in any of the major 的任何主要供應商或客戶中擁有任何權益。
suppliers or customers noted above.RELATED PARTY TRANSACTIONS 關聯方交易
A summary of the related party transactions undertaken by the Group 本集團年內從事的關聯方交易概況載列於財務報表during the Year is set out in note XII “Related Parties and Related 附註十二、關聯方關係及其交易。該等關聯方交易Party Transactions” to the financial statements. Such related party 並不構成上市規則第14A章界定的本集團的關連交
transactions did not constitute connected transactions of the Group 易。
under Chapter 14A of the Listing Rules.There was no connected transaction entered into by the Group for 截至二零二三年十二月三十一日止年度，本集團並the year ended 31 December 2023 which is required to be disclosed 無任何根據上市條例所需披露之關連人士交易，且under the Listing Rules and the Group has complied with the 本集團已遵守上市規則第14A章的規定。
requirements under Chapter 14A of the Listing Rules.EVENTS AFTER THE REPORTING PERIOD 報告期後事項
Details of significant subsequent events of the Group are set out in 本集團之重大結算日後事項詳情載於財務報表附註
note XV of the financial statements. 十五。
SUFFICIENCY OF PUBLIC FLOAT 公眾持股量的足夠性
Based on the information that is publicly available to the Company 於本報告日期，根據本公司可從公開途徑取得的資and within the knowledge of its directors as at the date of this report 料以及就董事所知，董事確認本公司的公眾持股量the Directors confirm that the Company had sufficient public float as 符合上市規則的規定。
required by the Listing Rules.102 BYD Company Limited比亞迪股份有限公司
Report of the Directors董事會報告
CONFIRMATION OF INDEPENDENCE 確認獨立性
Each independent non-executive Director has provided a written 每位獨立非執行董事已提供書面確認函，確認其根statement confirming his/her independence to the Company pursuant 據上市規則第3.13條規定，對本公司的獨立性。經to Rule 3.13 of the Listing Rules. The Company assessed that each 評估後，本公司認為各獨立非執行董事均為獨立人independent non-executive Director continues to be independent. 士。
AUDITORS 核數師The term of Ernst & Young Hua Ming LLP the Company’s auditor is 公司之核數師安永華明會計師事務所（特殊普通合about to expire. Resolutions will be proposed at the forthcoming AGM 夥）之任期將屆滿。將於召開的股東週年大會上討論for Shareholders to consider and approve the appointment of Ernst & 聘任安永華明會計師事務所（特殊普通合夥）為本公
Young Hua Ming LLP as the auditor of the Company for 2024. There is 司二零二四年度核數師。對於該聘任事項，審核委no disagreement with the audit committee on such appointment. the 員會並無任何分歧。本公司於過去三年未有更換核Company did not replace its auditor in the past three years. 數師。
On behalf of the Board 承董事會命
Wang Chuan-fu 主席
Chairman 王傳福
Shenzhen PRC 26 March 2024 中國深圳，二零二四年三月二十六日Annual Report 2023二零二三年年報103
Report of the Supervisory Committee監事會報告
In 2023 in accordance with the principle of being accountable to 二零二三年，公司監事會根據《公司法》、《公司章all Shareholders the supervisory committee of the Company fully 程》及有關法規的規定，本著對全體股東負責的精complied with the duties to supervise and ensure that the resolutions 神，認真履行了監督的職責，確保股東大會決議的as passed in general meetings were consistently implemented the 貫徹落實，維護了股東的合法權益，完成了《公司章legal interest of Shareholders was protected and the duties conferred 程》和股東大會賦予的任務，對公司規範運作和持續under the Articles and in the general meetings were completed in 發展發揮了較好的作用。
accordance with the PRC Company Law the Articles and the relevant
provisions facilitating a disciplined operation and sustainable
development of the Company.
1. MEETINGS OF THE SUPERVISORY COMMITTEE 1. 報告期內監事會的會議情況和決議內
DURING THE REPORTING PERIOD AND 容
RESOLUTIONS PASSED IN SUCH MEETINGS
On 28 March 2023 the supervisory committee convened its 二零二三年三月二十八日，在公司召開監事meeting at the office of the Company where the annual report 會會議，會議審議通過公司二零二二年年度of the Company for 2022 was considered and approved 報告。
accordingly.On 27 April 2023 the supervisory committee convened its 二零二三年四月二十七日，在公司召開監事meeting at the office of the Company where the 2023 first 會會議，會議審議通過公司二零二三年第一quarterly report of the Company was considered and approved 季度報告。
accordingly.On 28 August 2023 the supervisory committee convened 二零二三年八月二十八日，在公司召開監事its meeting at the office of the Company where the interim 會會議，會議審議通過公司二零二三年中期report of the Company for 2023 was considered and approved 報告。
accordingly.On 1 September 2023 the supervisory committee convened 二零二三年九月一日，在公司召開監事會會its meeting at the office of the Company where the re-election 議，會議審議通過公司重選監事、選舉新監of supervisors election of new supervisors and fixing 事及釐定監事酬金。
remuneration of supervisors were considered and approved
accordingly.On 19 September 2023 the supervisory committee convened 二零二三年九月十九日，在公司召開監事會its meeting at the office of the Company where the election of 會議，會議審議通過公司選舉監事會主席。
chairman of the supervisory committee was considered and
approved accordingly.On 30 October 2023 the supervisory committee convened its 二零二三年十月三十日，在公司召開監事會meeting at the office of the Company where the 2023 third 會議，會議審議通過公司二零二三年第三季quarterly report was considered and approved accordingly. 度報告。104 BYD Company Limited比亞迪股份有限公司Report of the Supervisory Committee監事會報告
2. PROGRESS OF THE WORK OF THE 2. 報告期內監事會的工作情況
SUPERVISORY COMMITTEE DURING THE
REPORTING PERIOD
During the Reporting Period the supervisory committee of the 在本報告期內，公司監事會忠實履行了監督Company performed its supervisory functions in a fiduciary 職能，對公司的財務、董事會執行股東大會manner. The supervisory committee duly supervised and 決議的情況、管理層的經營決策、公司的依
examined the Company’ s financial situation the Board’s 法運作、公司董事、監事及高級管理人員的
execution of the resolutions passed in general meetings 經營行為與控股股東的關聯交易進行了認真
operational decisions of the management the operations of the 的監督和檢查，公司監事會認為：
Company in compliance with the laws the acts of the Directors
supervisors and senior management of the Company and
the related party transactions entered into with its controlling
shareholder. The supervisory committee considered that:
(1) The operating activities of the Group in 2023 did not (1) 集團在二零二三年度的經營活動中不
violate the PRC Company Law the Articles financial 存在違反《公司法》、《公司章程》、
accounting procedures and the laws and regulations of 財務會計制度及國家法律、法規的行
the PRC. 為。
(2) During the discharge of their duties in 2023 the (2) 公司董事、監事及高級管理人員在二
Directors supervisors and senior management of 零二三年度行使職責時，能忠於職the Company fulfilled their fiduciary duties by acting 守、守法經營、規範管理、開拓創
lawfully regularized management explored for 新、尊重和維護了全體股東的利益，innovation with discipline to protect the interests of 不存在違反《公司法》、《公司章程》及
all the shareholders of the Company. None of the 國家法律、法規的行為。
parties named above was found in breach of the PRC
Company Law the Articles or the laws and regulations
of the PRC.
(3) The auditor presented an unqualified auditor’s report. (3) 會計師事務所出具了無保留意見的審
The report indicates that the financial statements give a 計報告。該報告認為本公司的財務報true and fair view of the financial status and operating 表真實、公允地反映公司財務狀況及
results of the Company. 經營成果。
The supervisory committee is confident in the prospect of the 監事會對本公司的前景充滿信心，同時將一如既往Company and will proceed to carry out effective supervision on 地對本公司運作實施有效監督，維護股東及本公司the operation of the Company to safeguard the interests of the 的整體利益。
Shareholders and the Company as a whole.Chairman of the Supervisory Committee 監事會主席
Li Yong-zhao 李永釗
26 March 2024 二零二四年三月二十六日Annual Report 2023
二零二三年年報105
Audit Report審計報告
Ernst & Young Hua Ming (2024) Shen Zi No. 70013328_H01
安永華明(2024)審字第70013328_H01號
BYD Company Limited比亞迪股份有限公司
To the shareholders of BYD Company Limited: 比亞迪股份有限公司全體股東：
I. AUDIT OPINION 一、 審計意見
We have audited the financial statements of BYD Company 我們審計了比亞迪股份有限公司的財務報
Limited which comprise the consolidated and company 表，包括二零二三年十二月三十一日的合併balance sheets as at 31 December 2023 the consolidated 及公司資產負債表，二零二三年度合併及公and company income statements statement of changes in 司利潤表、股東權益變動表和現金流量表以
owners’ equity and cash flow statement for the year ended 31 及相關財務報表附註。
December 2023 and notes to the financial statements.In our opinion the accompanying financial statements of BYD 我們認為，後附的比亞迪股份有限公司的財Company Limited have been prepared in accordance with 務報表在所有重大方面按照企業會計準則的
the PRC Accounting Standards for Business Enterprises (the 規定編製，公允反映了比亞迪股份有限公司“PRC ASBEs”) in all material aspects and give a fair view of the 二零二三年十二月三十一日的合併及公司的
consolidated and company financial position of BYD Company 財務狀況以及二零二三年度的合併及公司的
Limited as at 31 December 2023 and the consolidated and 經營成果和現金流量。
company results of operation and cash flows of BYD Company
Limited for 2023.106 BYD Company Limited比亞迪股份有限公司
Audit Report審計報告
II. BASIS FOR OPINION 二、 形成審計意見的基礎
We conducted our audit in accordance with the Auditing 我們按照中國註冊會計師審計準則的規定執
Standards for Certified Public Accountants of China. Our 行了審計工作。審計報告的「註冊會計師對財responsibilities under those standards are further described 務報表審計的責任」部分進一步闡述了我們在in the section headed “Certified Accountants’ Responsibilities 這些準則下的責任。按照中國註冊會計師職for the Audit of the Financial Statements” of our report. We are 業道德守則，我們獨立於比亞迪股份有限公independent of BYD Company Limited in accordance with 司，並履行了職業道德方面的其他責任。我the Code of Ethics for PRC certified accountants and we have 們相信，我們獲取的審計證據是充分、適當fulfilled our other ethical responsibilities. We believe that the 的，為發表審計意見提供了基礎。
audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinion.III. KEY AUDIT MATTERS 三、 關鍵審計事項
Key audit matters are those matters that in our professional 關鍵審計事項是我們根據職業判斷，認為對judgement were of most significance in our audit of the 本期財務報表審計最為重要的事項。這些事financial statements of the current period. These matters 項的應對以對財務報表整體進行審計並形成
were addressed in the context of our audit of the financial 審計意見為背景，我們不對這些事項單獨發statements as a whole and in forming our opinion thereon and 表意見。我們對下述每一事項在審計中是如we do not provide a separate opinion on these matters. For 何應對的描述也以此為背景。
each matter below our description of how our audit addressed
the matter is provided in that context.We have fulfilled the responsibilities described in the section 我們已經履行了本報告「註冊會計師對財務報headed “Certified Accountants’ Responsibilities for the Audit 表審計的責任」部分闡述的責任，包括與這些of the Financial Statements” of our report including those 關鍵審計事項相關的責任。相應地，我們的in relation to these matters. Accordingly our audit included 審計工作包括執行為應對評估的財務報表重
the performance of procedures designed to respond to 大錯報風險而設計的審計程序。我們執行審our assessment of the risks of material misstatement of the 計程序的結果，包括應對下述關鍵審計事項financial statements. The results of our audit procedures 所執行的程序，為財務報表整體發表審計意including the procedures performed to address the key audit 見提供了基礎。
matter below provide the basis for our audit opinion on the
accompanying financial statements as a whole.Annual Report 2023二零二三年年報107
Audit Report審計報告
Key audit matter: How our audit addressed the key audit matter:
關鍵審計事項：該事項在審計中是如何應對：
Revenue recognition 收入確認
The operating revenue of BYD Company Limited is mainly The audit procedures performed in relation to the revenue
from the sales of automobiles and related products recognition in our audit mainly included:
and other products and mobile handset components
assembly services and other products. In 2023 BYD 我們在審計過程中對收入確認執行的審計程序主要包括：
Company Limited recorded a revenue of RMB602.3 billion
in the consolidated financial statements representing an * Understood assessed and tested the effectiveness
increase of RMB178.3 billion or 42% as compared to the of the design and operation of internal controls
total revenue in 2022 which was mainly derived from the related to revenue recognition;
segment of automobiles and related products and other
products. * 了解、評價和測試與營業收入相關的內部控制的設計及執行有效性；
比亞迪股份有限公司的營業收入主要來自於汽車、汽車相
關產品及其他產品、手機部件、組裝及其他產品。二零二 * Obtained main sales contracts checked and三年度，比亞迪股份有限公司合併財務報表中營業收入金 identified the terms and conditions in the contracts額為人民幣6023億元，營業收入總額較二零二二年度增 which were related to the transfer of control and加人民幣1783億元，增長率為42%，主要來自於汽車、 revenue recognition and assessed whether the汽車相關產品及其他產品。 accounting policies on revenue recognition hadbeen compliance with the requirements of with the
PRC ASBEs;
*獲取主要的銷售合同，檢查和識別與控制權轉移及收入確認相關的合同條款與條件，評價收入確認的會計政策是否符合企業會計準則的要求；
* Confirmed on a sample basis the current sales
with major customers in line with confirmation of
accounts receivable and conducted alternative test
on samples without reply;
*結合應收賬款函證，以抽樣方式向主要客戶函證本期銷售額，對未回函的樣本執行替代測試；
* Selected samples from goods sales around the
balance sheet date and checked supporting
documents such as outbound delivery orders
and logist ics documents to assess whether
relevant revenue had been recognised during the
appropriate accounting period;
*就資產負債表日前後的銷售商品交易選取樣本，檢查出庫單和物流單據等支持性文件，評價相關收入是否被記錄於恰當的會計期間；108 BYD Company Limited比亞迪股份有限公司
Audit Report審計報告
Key audit matter: How our audit addressed the key audit matter:
關鍵審計事項：該事項在審計中是如何應對：
Taking into consideration that there was a significant * Conducted detailed test on revenue recognition
increase in revenue during the Year and the different and checked supporting documents such as
business types involved inappropriate recognition of outbound delivery orders logistics documents
revenue might have a material effect on the financial bank statements export declarations and sales
statements. Therefore revenue recognition was identified invoices;
as a key audit matter.*執行收入確認的細節測試，檢查出庫單、物流單、考慮到本年收入增長較大且涉及不同的業務類型，收入的銀行流水、出口報關單及銷售發票等支持性文件；
不恰當確認對財務報表有重大影響。因此，我們將收入確認識別為關鍵審計事項。 * Conducted analytical review procedures to comparethe movements of various revenues and gross profit
For the disclosures of this accounting policy margins and analyse the reasonableness of the
significant accounting judgements and estimates as movements;
well as relevant financial statements please refer to
notes III.23 24 and 32 and notes V.45. * 執行分析性覆核程序，對比各類別收入及毛利率的變動情況，分析收入與毛利率變動的合理性；
該會計政策、重大會計判斷和估計以及相關財務報表披露
參見附註三、23、24、32，以及附註五、45。 * Checked whether there was any significant reversal
of revenue or sales return after the Reporting
Period;
*檢查報告期後是否存在重大收入衝回或大額退貨的情況；
* Reviewed the disclosures of operating revenue in
the notes to the consolidated financial statements.* 覆核合併財務報表附註中有關營業收入的披露。Annual Report 2023二零二三年年報109
Audit Report審計報告
Key audit matter: How our audit addressed the key audit matter:
關鍵審計事項：該事項在審計中是如何應對：
Expected credit losses on trade receivables contract 應收賬款、合同資產和長期應收款的預期信用損失
assets and long-term receivables
BYD Company Limited recorded a carrying amount of The audit procedures performed in relation to the
trade receivables of RMB61.9 billion a carrying amount of expected credit losses on trade receivables contract
contract assets of RMB2.7 billion and a carrying amount assets and long-term receivables in our audit mainly
of long-term receivables of RMB8.2 billion as at 31 included:
December 2023 in the consolidated financial statements
which accounted for a significant portion of the total 我們在審計過程中對應收賬款、合同資產和長期應收款的
assets in the consolidated financial statements. 預期信用損失執行的審計工作主要包括：
截止二零二三年十二月三十一日，比亞迪股份有限公司合 * Understood assessed and tested the effectiveness併財務報表中應收賬款賬面價值為人民幣619億元，合同 of the design and operation of internal controls資產賬面價值為人民幣27億元，長期應收款賬面價值為人 related to the estimates of expected credit losses民幣82億元，對合併財務報表總資產而言金額重大。 on trade receivables contract assets and long-termreceivables;
BYD Company Limited applied a simplified measurement
method which grouped different portfolios based on * 了解、評價和測試與應收賬款、合同資產和長期應
their risk characteristics and used a credit risk matrix to 收款預期信用損失估計相關的內部控制設計和運行
assess the expected credit losses of the financial assets 的有效性；
above. For an item of trade receivable of significant
amount and with objective evidence indicating that the * Discussed with management on the groupings
credit risk of such differs significantly from that of other of credit risk characteristic and the estimates of
receivables the expected credit loss is calculated by the expected credit losses assessed their accuracy
difference between the present value of all contractual based on historical loss rate and evaluated the
cash flows related to such trade receivable under the reasonableness of management’s expected
single contract and the present value of all expected credit loss model considering current economic
cash flows. For other receivables the management has conditions;
considered the characteristics of credit risks related to
different customers and assessed the expected credit * 與管理層討論信用風險特徵組合類別的劃分、預期
losses by aging group. Management’s estimate of 信用損失率的估計，根據歷史損失率評估其準確expected credit losses has taken into consideration all 性，並結合當前經濟狀況來評價管理層使用的預期reasonable and reliable information including the credit 信用損失模型的合理性；
ratings of customers aging of closing balance existence
of disputes and historic payments as well as forward-
looking information in line with expected macro-economic
environment and other factors.比亞迪股份有限公司運用簡化計量方法，按照風險特徵劃分不同組合，採用信用風險矩陣對上述金融資產的預期信用損失進行評估。對於單項金額重大且存在客觀證據表明該單項應收款項的信用風險與其他應收款項的信用風險有
顯著不同的，按照該單項合同下應收款項的所有合同現金流量現值與預期收取的所有現金流量現值之間的差額計提預期信用損失。對於其他的應收款項，管理層考慮了不同客戶的信用風險特徵，以賬齡組合為基礎評估預期信用損失。管理層對預期信用損失的估計考慮所有合理且有依據的信息，包括客戶信用評級、期末餘額的賬齡、是否存在糾紛以及歷史回款情況等信息，還需要結合預期宏觀經濟環境等因素考慮前瞻性信息。110 BYD Company Limited比亞迪股份有限公司Audit Report審計報告
Key audit matter: How our audit addressed the key audit matter:
關鍵審計事項：該事項在審計中是如何應對：
As the groupings of trade receivables contract assets * For trade receivable with individual bad debt
and long-term receivables with different credit risk provision discussed with management on the
characteristics by management and the estimates of reasonableness of identification and analysed the
expected credit loss rates involved significant judgements recoverability of such receivables;
and estimates the expected credit losses on trade
receivables contract assets and long-term receivables * 對單項計提壞賬準備的應收款項，與管理層討論劃were identified as a key audit matter. 分標準的合理性並對該類款項的可回收性進行分析；
管理層對應收賬款、合同資產和長期應收款不同的信用風
險特徵組合類別的劃分、預期信用損失率的估計等涉及重 * For trade receivables for which provision for bad
大的判斷和估計，因此我們將應收賬款、合同資產和長期 debts has been made on group basis by credit risk應收款的預期信用損失識別為關鍵審計事項。 characteristics evaluated the reasonableness ofkey assumptions for expected credit loss based on
For the disclosures of this accounting policy the nature of customers and historical loss rate;
significant accounting judgements and estimates as
well as relevant financial statements please refer to * 對按信用風險特徵組合計提壞賬準備的應收款項，notes III.10 24 and 32 and notes V.3 8 10. 根據客戶性質以及歷史損失率評價測算預期信用損失的關鍵假設的合理性；
該會計政策、重大會計判斷和估計以及相關財務報表披露
參見附註三、10、24、32，以及附註五、3、8、10。 * Recalculated the calculation of expected credit
losses on trade receivables contract assets and
long-term receivables checked the accuracy of
the aging of trade receivables and reviewed the
amounts of impairment provision;
*重新測算應收賬款、合同資產和長期應收款預期信
用損失的計算過程，檢查應收賬款賬齡的準確性，覆核減值準備的金額；
* Checked the subsequent payments.* 檢查了期後的回款情況。Annual Report 2023二零二三年年報111
Audit Report審計報告
IV. OTHER INFORMATION 四、 其他信息
The management of BYD Company Limited are responsible 比亞迪股份有限公司管理層對其他信息負
for the other information. The other information comprises 責。其他信息包括年度報告中涵蓋的信息，the information included in the annual report other than the 但不包括財務報表和我們的審計報告。
financial statements and our auditor’s report thereon.Our audit opinion on the financial statements does not cover 我們對財務報表發表的審計意見不涵蓋其他
the other information and we do not express any form of 信息，我們也不對其他信息發表任何形式的assurance conclusion thereon. 鑒證結論。
In connection with our audit of the financial statements our 結合我們對財務報表的審計，我們的責任是responsibility is to read the other information and in doing so 閱讀其他信息，在此過程中，考慮其他信息consider whether the other information is materially inconsistent 是否與財務報表或我們在審計過程中了解到
with the financial statements or our knowledge obtained in the 的情況存在重大不一致或者似乎存在重大錯
audit or otherwise appears to be materially misstated. 報。
If based on the work we have performed we conclude that 基於我們已執行的工作，如果我們確定其他there is a material misstatement of this other information we 信息存在重大錯報，我們應當報告該事實。
are required to report that fact. We have nothing to report in 在這方面，我們無任何事項需要報告。
this regard.V. RESPONSIBILITIES OF THE MANAGEMENT AND 五、 管理層和治理層對財務報表的責任
THE GOVERNANCE BODY FOR THE FINANCIAL
STATEMENTS
The management are responsible for the preparation of the 管理層負責按照企業會計準則的規定編製財
financial statements that give a fair view in accordance with the 務報表，使其實現公允反映，並設計、執行PRC ASBEs and for the design execution and maintenance of 和維護必要的內部控制，以使財務報表不存such internal control as is necessary to enable the preparation 在由於舞弊或錯誤導致的重大錯報。
of financial statements that are free from material misstatement
whether due to fraud or error.In preparing the financial statements the management are 在編製財務報表時，管理層負責評估比亞迪responsible for assessing BYD Company Limited’s ability 股份有限公司的持續經營能力，披露與持續to continue as a going concern disclosing as applicable 經營相關的事項（如適用），並運用持續經營matters related to going concern and using the going concern 假設，除非計劃進行清算、終止運營或別無basis of accounting unless there are plans for liquidation or 其他現實的選擇。
cessation or there are no other realistic alternatives.The governance body is responsible for overseeing BYD 治理層負責監督比亞迪股份有限公司的財務
Company Limited’s financial reporting process. 報告過程。112 BYD Company Limited比亞迪股份有限公司Audit Report審計報告
VI. CERTIFIED ACCOUNTANT’S RESPONSIBILITIES 六、 註冊會計師對財務報表審計的責任
FOR THE AUDIT OF THE FINANCIAL
STATEMENTS
Our objectives are to obtain reasonable assurance about 我們的目標是對財務報表整體是否不存在由
whether the financial statements as a whole are free from 於舞弊或錯誤導致的重大錯報獲取合理保
material misstatement whether due to fraud or error and 證，並出具包含審計意見的審計報告。合理to issue an auditor’s report that includes our audit opinion. 保證是高水平的保證，但並不能保證按照審Reasonable assurance is a high level of assurance but is not 計準則執行的審計在某一重大錯報存在時總
a guarantee that an audit conducted in accordance with audit 能發現。錯報可能由舞弊或錯誤所導致，如standards will always detect a material misstatement when 果合理預期錯報單獨或匯總起來可能影響財
it exists. Misstatements can arise from fraud or error and are 務報表使用者依據財務報表作出的經濟決
considered material if individually or in the aggregate they 策，則通常認為錯報是重大的。
could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial
statements.As part of an audit in accordance with audit standards we 在按照審計準則執行審計工作的過程中，我exercise professional judgement and maintain professional 們運用了職業判斷，並保持職業懷疑。同skepticism throughout the audit. We also: 時，我們也執行以下工作：
(1) Identify and assess the risks of material misstatement (1) 識別和評估由於舞弊或錯誤導致的財
of the consolidated financial statements whether due 務報表重大錯報風險，設計和實施審to fraud or error design and perform audit procedures 計程序以應對這些風險，並獲取充responsive to those risks and obtain audit evidence 分、適當的審計證據，作為發表審計that is sufficient and appropriate to provide a basis for 意見的基礎。由於舞弊可能涉及串our audit opinion. The risk of not detecting a material 通、偽造、故意遺漏、虛假陳述或凌
misstatement resulting from fraud is higher than for one 駕於內部控制之上，未能發現由於舞resulting from error as fraud may involve collusion 弊導致的重大錯報的風險高於未能發
forgery intentional omissions misrepresentations or 現由於錯誤導致的重大錯報的風險。
the override of internal control.
(2) Obtain an understanding of internal control relevant to (2) 了解與審計相關的內部控制，以設計
the audit in order to design audit procedures that are 恰當的審計程序。
appropriate in the circumstances.
(3) Evaluate the appropriateness of accounting policies (3) 評價管理層選用會計政策的恰當性和
used and the reasonableness of accounting estimates 作出會計估計及相關披露的合理性。
and related disclosures made by the management.Annual Report 2023二零二三年年報113
Audit Report審計報告
(4) Conclude on the appropriateness of the management’s (4) 對管理層使用持續經營假設的恰當性
use of the going concern basis of accounting and 得出結論。同時，根據獲取的審計證based on the audit evidence obtained whether 據，就可能導致對比亞迪股份有限公a material uncertainty exists related to events or 司持續經營能力產生重大疑慮的事項
conditions that may cast significant doubt on BYD 或情況是否存在重大不確定性得出結
Company Limited’s ability to continue as a going 論。如果我們得出結論認為存在重大concern. If we conclude that a material uncertainty 不確定性，審計準則要求我們在審計exists we are required to draw attention in our auditor’s 報告中提請報表使用者注意財務報表
report to the related disclosures in the financial 中的相關披露；如果披露不充分，statements or if such disclosures are inadequate to 我們應當發表非無保留意見。我們的issue a qualified opinion. Our conclusions are based 結論基於截至審計報告日可獲得的
on the audit evidence obtained up to the date of our 信息。然而，未來的事項或情況可能auditor’s report. However future events or conditions 導致比亞迪股份有限公司不能持續經
may cause BYD Company Limited to cease to continue 營。
as a going concern.(5) Evaluate the overall presentation structure and content (5) 評價財務報表的總體列報（包括披of the financial statements including the disclosures 露）、結構和內容，並評價財務報表and whether the financial statements represent the 是否公允反映相關交易和事項。
underlying transactions and events in a manner that
achieves fair presentation.
(6) Obtain sufficient and appropriate audit evidence (6) 就比亞迪股份有限公司中實體或業務
regarding the financial information of the entities or 活動的財務信息獲取充分、適當的審
business activities within BYD Company Limited to 計證據，以對財務報表發表審計意express an audit opinion on the financial statements. 見。我們負責指導、監督和執行集團We are responsible for the direction supervision and 審計，並對審計意見承擔全部責任。
performance of the group audit. We remain solely
responsible for our audit opinion.We communicate with the governance body regarding among 我們與治理層就計劃的審計範圍、時間安排
other matters the planned scope and timing of the audit and 和重大審計發現等事項進行溝通，包括溝通significant audit findings including any significant deficiencies 我們在審計中識別出的值得關注的內部控制
in internal control that we identify during our audit. 缺陷。
We also provide the governance body with a statement that 我們還就已遵守與獨立性相關的職業道德要
we have complied with relevant ethical requirements regarding 求向治理層提供聲明，並與治理層溝通可能independence and to communicate with them all relationships 被合理認為影響我們獨立性的所有關係和其
and other matters that may reasonably be thought to bear on 他事項，以及相關的防範措施（如適用）。
our independence and where applicable related safeguards.114 BYD Company Limited比亞迪股份有限公司
Audit Report審計報告
From the matters communicated with the governance body 從與治理層溝通過的事項中，我們確定哪些we determine those matters that were of most significance in 事項對本期財務報表審計最為重要，因而構the audit of the financial statements of the current period and 成關鍵審計事項。我們在審計報告中描述這are therefore the key audit matters. We describe these matters 些事項，除非法律法規禁止公開披露這些事in our auditor’s report unless law or regulation precludes 項，或在極少數情形下，如果合理預期在審public disclosure about the matter or when in extremely 計報告中溝通某事項造成的負面後果超過在
rare circumstances we determine that a matter should not 公眾利益方面產生的益處，我們確定不應在be communicated in our audit report because the adverse 審計報告中溝通該事項。
consequences of doing so would reasonably be expected to
outweigh the public interest benefits of such communication.Ernst & Young Hua Ming LLP 安永華明會計師事務所（特殊普通合夥）
PRC certified public accountant: 中國註冊會計師：
Li Jianguang (李劍光) 李劍光
(Partner in charge) （項目合夥人）
PRC certified public accountant: 中國註冊會計師：
Zhang Linghui (張羚暉) 張羚暉
Beijing the PRC 中國北京
26 March 2024 二零二四年三月二十六日Annual Report 2023
二零二三年年報115
Consolidated Balance Sheet合併資產負債表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
31 December 31 December
20232022
二零二三年二零二二年
Note V 十二月 十二月
Assets 資產 附註五 三十一日 三十一日
Current assets 流動資產
Monetary funds 貨幣資金 1 109094408 51471263
Financial assets held for trading 交易性金融資產 2 9562550 20626930
Trade receivables 應收賬款 3 61866019 38828494
Receivables financing 應收款項融資 4 5564924 12894284
Prepayments 預付款項 6 2215413 8223567
Other receivables 其他應收款 5 2757912 1910009
Inventories 存貨 7 87676748 79107199
Contract assets 合同資產 8 2660319 13552998
Long-term receivables due within one year 一年內到期的長期應收款 7508351 1052562
Other current assets 其他流動資產 9 13214802 13136201
Total current assets 流動資產合計 302121446 240803507
Non-current assets 非流動資產
Long-term receivables 長期應收款 10 8238190 1118637
Long-term equity investments 長期股權投資 11 17647212 15485402
Other equity instrument investments 其他權益工具投資 12 5327283 4418584
Other non-current financial assets 其他非流動金融資產 13 2696374 2147140
Investment properties 投資性房地產 14 82510 85005
Fixed assets 固定資產 15 230903820 131880369
Construction in progress 在建工程 16 34726196 44621935
Right-of-use assets 使用權資產 17 9678956 3137327
Intangible assets 無形資產 18 37236261 23223497
Development expenditures 開發支出 541000 1683000
Goodwill 商譽 19 4427571 65914
Long-term deferred expenditures 長期待攤費用 20 4062529 458108
Deferred tax assets 遞延所得稅資產 21 6584422 3686905
Other non-current assets 其他非流動資產 22 15273900 21045316
Total non-current assets 非流動資產合計 377426224 253057139
Total assets 資產總計 679547670 493860646
The accompanying notes form an integral part of these financial 後附財務報表附註為本財務報表的組成部分
statements116 BYD Company Limited比亞迪股份有限公司
Consolidated Balance Sheet合併資產負債表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
31 December 31 December
20232022
二零二三年二零二二年
Note V 十二月 十二月
Liabilities 負債 附註五 三十一日 三十一日
Current liabilities 流動負債
Short-term borrowings 短期借款 24 18323216 5153098
Financial liabilities held for trading 交易性金融負債 25 7713 54605
Bills payables 應付票據 26 4053314 3328419
Trade payables 應付賬款 27 194429817 140437310
Contract liabilities 合同負債 28 34698510 35516571
Employee benefits payables 應付職工薪酬 29 17138836 12037011
Tax payables 應交稅費 30 7852324 4326394
Other payables 其他應付款 31 164972849 122123841
Provision 預計負債 32 2620325 1287452
Non-current liabilities due within one year 一年內到期的非流動負債 33 7740491 6464828
Other current liabilities 其他流動負債 34 1829276 2615032
Total current liabilities 流動負債合計 453666671 333344561
Non-current liabilities 非流動負債
Long-term borrowings 長期借款 35 11975139 7593596
Lease liabilities 租賃負債 37 8847186 2617274
Deferred tax liabilities 遞延所得稅負債 21 3950836 2018530
Other non-current liabilities 其他非流動負債 38 50645725 26896848
Total non-current liabilities 非流動負債合計 75418886 39126248
Total liabilities 負債合計 529085557 372470809
The accompanying notes form an integral part of these financial 後附財務報表附註為本財務報表的組成部分
statementsAnnual Report 2023二零二三年年報117
Consolidated Balance Sheet合併資產負債表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
31 December 31 December
20232022
二零二三年二零二二年
Note V 十二月 十二月
Shareholders’ equity 股東權益 附註五 三十一日 三十一日
Shareholders’ equity 股東權益
Share capital 股本 39 2911143 2911143
Capital reserve 資本公積 40 62041774 61705893
Less: treasury shares 減：庫存股 41 1266944 1809920
Other comprehensive income 其他綜合收益 42 603663 428332
Special reserve 專項儲備 22370 12078
Surplus reserve 盈餘公積 43 7374087 6838541
Undistributed profit 未分配利潤 44 67123972 40943232
Total shareholders’ equity attributable to 歸屬於母公司股東權益合計
the parent company 138810065 111029299
Non-controlling interests 少數股東權益 11652048 10360538
Total shareholders’ equity 股東權益合計 150462113 121389837
Total liabilities and shareholders’ equity 負債和股東權益總計 679547670 493860646
The financial statement was signed by the following persons: 財務報表由以下人士簽署：
Legal representative: Chief Financial Officer: Head of Accounting Department:
法定代表人：主管會計工作負責人：會計機構負責人：
Wang Chuan-fu Zhou Ya-lin Liu Hui王傳福周亞琳劉惠
The accompanying notes form an integral part of these financial 後附財務報表附註為本財務報表的組成部分
statements118 BYD Company Limited比亞迪股份有限公司
Consolidated Income Statement合併利潤表
Year ended 31 December 2023截至二零二三年十二月三十一日止年度
RMB’000人民幣千元
Note V 2023 2022附註五二零二三年二零二二年
I. Operating revenue 一、 營業收入 45 602315354 424060635
Less: Operating costs 減： 營業成本 45 480558350 351815680
Tax and surcharge 稅金及附加 46 10349628 7267110
Selling expenses 銷售費用 47 25211395 15060676
Administrative expenses 管理費用 48 13461708 10007370
Research and development 研發費用
expenses 49 39574945 18654453
Finance expenses 財務費用 50 (1474894) (1617957)
Including: Interest expenses 其中：利 息費用 50 1827605 1316350
Interest income 利息收入 50 2796195 1829617
Add: Other income 加： 其他收益 51 5253459 1721136
Investment income 投資收益 52 1635141 (791903)
Including: Investment income/(loss) 其中：對 聯營企業和合營
in associates and joint 企業的投資
ventures 收益╱（損失） 1277455 (685885)
Loss on derecognition of financial 以攤餘成本計量的金融資產
assets measured at amortised 終止確認損失
cost – (22719)
Gains from changes in fair value 公允價值變動收益 53 257740 126098
Impairment losses on credit 信用減值損失 54 (1579612) (989521)
Impairment losses on asset 資產減值損失 55 (2188219) (1386458)
Gains from disposal of assets 資產處置收益 56 90364 (10836)
II. Operating profit 二、 營業利潤 38103095 21541819
Add: Non-operating income 加：營業外收入 57 711370 526974
Less: Non-operating expenses 減：營業外支出 58 1545828 989064
III. Total profit 三、 利潤總額 37268637 21079729
Less: Income tax expenses 減：所得稅費用 59 5924567 3366625
IV. Net profit 四、 淨利潤 31344070 17713104
V. Classified by continuity of operation 五、 按經營持續性分類
Net profit from continuing operations 持續經營淨利潤 31344070 17713104
VI. Classified by ownership 六、 按所有權歸屬分類
Net profit attributable to Shareholders 歸屬於母公司所有者的
of the parent company 淨利潤 30040811 16622448
Non-controlling interests 少數股東損益 1303259 1090656Annual Report 2023二零二三年年報119
Consolidated Income Statement合併利潤表
Year ended 31 December 2023截至二零二三年十二月三十一日止年度
RMB’000人民幣千元
Note V 2023 2022附註五二零二三年二零二二年
VII. Earnings per share (RMB/share) 七、 每股收益（元╱股）
Basic earnings per share 基本每股收益 60 10.32 5.71
Diluted earnings per share 稀釋每股收益 10.32 5.71
VIII. Other comprehensive income 八、 其他綜合收益 184028 546230
Other comprehensive income that cannot 不能重分類進損益的其他
be reclassified to profit or loss 綜合收益
Changes in fair value of other equity 其他權益工具投資公允價值變動
instrument investments 220896 852068
Income tax impact 所得稅影響 (54047) (204001)
166849648067
Other comprehensive income that 將重分類進損益的其他綜合收益
will be reclassified to profit or loss
Changes in fair value of receivables 應收款項融資公允價值變動
financing 38479 (30653)
Provision for credit impairment of 應收款項融資信用減值準備
receivables financing (10453) 2463
Exchange difference on foreign currency 外幣報表折算差額
translation (19544) (67490)
8482(95680)
Other comprehensive income attributable 歸屬於少數股東的其他綜合收益的
to non-controlling interests net of tax 稅後淨額 42 8697 (6157)
IX. Total comprehensive income 九、 綜合收益總額 31528098 18259334
Among which: 其中：
Total comprehensive income attributable 歸屬於母公司股東的綜合收益總額
to shareholders of the parent company 30216142 17174835
Total comprehensive income attributable 歸屬於少數股東的綜合收益總額
to non-controlling interests 1311956 1084499
The accompanying notes form an integral part of these financial 後附財務報表附註為本財務報表的組成部分
statements120 BYD Company Limited比亞迪股份有限公司
Consolidated Statement of Changes in Owners’ Equity合併股東權益變動表
Year ended 31 December 2023截至二零二三年十二月三十一日止年度
RMB’000人民幣千元
2023二零二三年
Shareholders’ equity attributable to the parent company歸屬於母公司股東權益
Less: Other Non- Total
Share Capital Treasury comprehensive Special Surplus Undistributed controlling shareholders’
capital reserve shares income reserve reserve profit Sub-total interests equity其他綜合少數股東股東權益
股本資本公積減：庫存股收益專項儲備盈餘公積未分配利潤小計權益合計
I. Closing balance for the previous year and 一、 上年年末及本年年初餘額
opening balance for the year 2911143 61705893 1809920 428332 12078 6838541 40943232 111029299 10360538 121389837
II. Amount of change in the current year 二、 本年增減變動金額
(I) Total comprehensive income (一) 綜合收益總額 – – – 175331 – – 30040811 30216142 1311956 31528098
(II) Capital contribution and reduction (二) 股東投入和減少資本
by shareholders
1 Ordinary shares contributed 1 股東投入的普通股
by shareholders – – – – – – – – 98000 98000
2 Share-based payment 2 股份支付計入股東
recognized in shareholders’ 權益的金額equity (note XIII) （附註十三) – 859294 – – – – – 859294 12895 872189
3 Effect of the vesting of restricted 3 解鎖限制性股票的
shares 影響 – (542976) (542976) – – – – – – –
4 Others 4 其他 – 19563 – – – – – 19563 (4044) 15519
(III) Profit distribution (三) 利潤分配
1 Appropriation to surplus reserve 1 提取盈餘公積 – – – – – 535546 (535546) – – –
2 Distribution to shareholders 2 對股東的分配(note V 44) （附註五、44) – – – – – – (3324525) (3324525) (127297) (3451822)(IV) Special reserve (四) 專項儲備
1 Appropriation for the year 1 本年提取 – – – – 10292 – – 10292 – 10292
III. Closing balance for the year 三、 本年年末餘額 2911143 62041774 1266944 603663 22370 7374087 67123972 138810065 11652048 150462113
The accompanying notes form an integral part of these financial statements 後附財務報表附註為本財務報表的組成部分Annual Report 2023二零二三年年報121
Consolidated Statement of Changes in Owners’ Equity合併股東權益變動表
Year ended 31 December 2023截至二零二三年十二月三十一日止年度
RMB’000人民幣千元
2022二零二二年
Shareholders’ equity attributable to the parent company歸屬於母公司股東權益
Less: Other Non- Total
Share Capital Treasury comprehensive Special Surplus Undistributed controlling shareholders’
capital reserve shares income reserve reserve profit Sub-total interests equity其他綜合少數股東股東權益
股本資本公積減：庫存股收益專項儲備盈餘公積未分配利潤小計權益合計
I. Closing balance for the previous year 一、 上年年末及本年年初餘額
and opening balance for the year 2911143 60807219 – (124055) 10369 5009088 26455907 95069671 9174538 104244209
II. Amount of change in the current year 二、 本年增減變動金額 –
(I) Total comprehensive income （一） 綜合收益總額 – – – 552387 – – 16622448 17174835 1084499 18259334
(II) Capital contribution and reduction （二） 股東投入和減少資本
by shareholders –
1 Ordinary shares contributed 1 股東投入的普通股
by shareholders – – – – – – – – 507625 507625
2 Share-based payment 2 股份支付計入
recognized in 股東權益的金額shareholders’ equity （附註十三)(note XIII) – 567694 – – – – – 567694 23615 591309
3 Effect of the grant of 3 授予限制性股票的
restricted shares 影響 – – 1809920 – – – – (1809920) – (1809920)
4 Others 4 其他 – 94491 – – – – – 94491 43639 138130
(III) Profit distribution （三） 利潤分配 –
1 Appropriation to surplus 1 提取盈餘公積
reserve – – – – – 1829453 (1829453) – – –
2 Distribution to shareholders 2 對股東的分配(note V 44) （附註五、44) – – – – – – (305670) (305670) (79464) (385134)(IV) Special reserve （四） 專項儲備 –
1 Appropriation for the year 1 本年提取 – – – – 1709 – – 1709 – 1709
(V) Others （五） 其他 –
1 Repurchase rights of minority 1 子公司少數股東
shareholders of 回購權
subsidiaries – 236489 – – – – – 236489 (393914) (157425)
III. Closing balance for the year 三、 本年年末餘額 2911143 61705893 1809920 428332 12078 6838541 40943232 111029299 10360538 121389837
The accompanying notes form an integral part of these financial statements 後附財務報表附註為本財務報表的組成部分122 BYD Company Limited比亞迪股份有限公司
Consolidated Cash Flow Statement合併現金流量表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
Note V 2023 2022附註五二零二三年二零二二年
I. Cash flows from operating activities: 一、 經營活動產生的現金流量：
Cash received from sales of goods and 銷售商品、提供勞務收到的
provision of services 現金 572704798 413209226
Tax rebates received 收到的稅費返還 15165447 7628162
Cash received from other activities 收到其他與經營活動有關的
relating to operations 現金 61 23947858 20542599
Sub-total of cash inflows from operating 經營活動現金流入小計
activities 611818103 441379987
Cash paid for goods and services 購買商品、接受勞務支付的現金313433210220842504
Cash paid to and on behalf of 支付給職工以及為職工支付的
employees 現金 84287908 53519728
Cash paid for various types of taxes 支付的各項稅費 29528359 18537188
Cash paid for other activities relating to 支付其他與經營活動有關的
operations 現金 61 14843601 7642910
Sub-total of cash outflows from 經營活動現金流出小計
operating activities 442093078 300542330
Net cash flow from operating activities 經營活動產生的現金流量淨額 62 169725025 140837657Annual Report 2023二零二三年年報123
Consolidated Cash Flow Statement合併現金流量表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
Note V 2023 2022附註五二零二三年二零二二年
II. Cash flows from investing activities: 二、 投資活動產生的現金流量：
Cash received from disposal of 收回投資收到的現金
investments – 13779
Cash received from disposals of 處置合營或聯營公司所收到的
associates or joint ventures 現金 122617 95800
Cash received from gains in investment 取得投資收益收到的現金 192409 129333
Net cash received from disposals 處置子公司及其他營業單位
of subsidiaries and other operating 收到的現金淨額
entities 73840 –
Net cash received from disposals of 處置固定資產、無形資產和
fixed assets intangible assets and 其他長期資產收回的
other long-term assets 現金淨額 470793 268237
Cash received from other activities 收到其他與投資活動有關的
relating to investments 現金 61 22245824 12803494
Sub-total of cash inflows from investing 投資活動現金流入小計
activities 23105483 13310643
Cash paid for purchase and 購建固定資產、無形資產和
construction of fixed assets 其他長期資產支付的
intangible assets and other long-term 現金
assets 122093509 97456862
Cash paid for acquisition of 收購子公司及其他營業單位
subsidiaries and 支付的現金淨額
other operating entities net 14077769 –
Cash paid for investments 投資支付的現金 2084953 10572908
Cash paid for other activities relating to 支付其他與投資活動有關的
investments 現金 61 10512896 25876870
Sub-total of cash outflows from 投資活動現金流出小計
investing activities 148769127 133906640
Net cash flows used in investing 投資活動使用的現金流量
activities 淨額 (125663644) (120595997)124 BYD Company Limited比亞迪股份有限公司
Consolidated Cash Flow Statement合併現金流量表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
Note V 2023 2022附註五二零二三年二零二二年
III. Cash flows from financing activities: 三、 籌資活動產生的現金流量：
Cash received from capital injection 吸收投資收到的現金 98000 507625
Cash received from borrowings 取得借款收到的現金 45304083 27635948
Cash received from other activities 收到的其他與籌資活動有關的
relating to financing 現金 28233 3031473
Sub-total of cash inflows from 籌資活動現金流入小計
financing activities 45430316 31175046
Cash paid for repayment of debts 償還債務支付的現金 27230939 44048894
Cash payments for distribution of 分配股利、利潤或償付利息
dividends profits or interest 支付的現金
expenses 4101617 1632852
Including: D ividends and profits paid 其中：子 公司支付給少數
to minority shareholders 股東的股利、利潤
by subsidiaries 127297 79464
Cash paid for other 支付的其他與籌資
activities relating to 活動有關的現金
financing 61 1280633 4981983
Sub-total of cash outflows from 籌資活動現金流出小計
financing activities 32613189 50663729
Net cash flows (used in)/from financing 籌資活動（使用）╱產生的
activities 現金流量淨額 12817127 (19488683)
IV. Effect of foreign exchange rate 四、 匯 率變動對現金及現金等價物
changes on cash and cash 的影響
equivalents 450780 609620
V. Net increase in cash and cash 五、 現金及現金等價物淨增加額
equivalents 62 57329288 1362597
Add: o pening balance of cash and 加： 年初現金及現金等價物
cash equivalents 餘額 62 51182457 49819860
VI. Closing balance of cash and cash 六、年末現金及現金等價物餘額
equivalents 62 108511745 51182457
The accompanying notes form an integral part of these financial 後附財務報表附註為本財務報表的組成部分
statementsAnnual Report 2023二零二三年年報125
Company Balance Sheet公司資產負債表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
31 December 31 December
20232022
二零二三年二零二二年
Note XVII 十二月 十二月
Assets 資產 附註十七 三十一日 三十一日
Current assets 流動資產
Monetary funds 貨幣資金 14922981 7490515
Financial assets held for trading 交易性金融資產 300487 300462
Trade receivables 應收賬款 1 1642730 1556885
Receivables financing 應收款項融資 15796 3215
Prepayments 預付款項 12485 10075
Other receivables 其他應收款 2 26410735 5835397
Inventories 存貨 51571 37559
Other current assets 其他流動資產 13134 –
Total current assets 流動資產合計 43369919 15234108
Non-current assets 非流動資產
Long-term equity investments 長期股權投資 3 59565120 54895715
Other equity instrument investments 其他權益工具投資 4902097 4026536
Other non-current financial assets 其他非流動金融資產 1195974 769304
Investment properties 投資性房地產 52341 53950
Fixed assets 固定資產 755017 822594
Construction in progress 在建工程 14392 13906
Right-of-use assets 使用權資產 34893 –
Intangible assets 無形資產 671622 412234
Other non-current assets 其他非流動資產 33506 22280
Total non-current assets 非流動資產合計 67224962 61016519
Total assets 資產總計 110594881 76250627
The accompanying notes form an integral part of these financial 後附財務報表附註為本財務報表的組成部分
statements126 BYD Company Limited比亞迪股份有限公司
Company Balance Sheet公司資產負債表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
31 December 31 December
20232022
二零二三年二零二二年十二月十二月
Liabilities and shareholders’ equity 負債和股東權益 三十一日 三十一日
Current liabilities 流動負債
Short-term borrowings 短期借款 – 1500917
Bills payables 應付票據 2102 2291
Trade payables 應付賬款 1472431 1264904
Contract liabilities 合同負債 21702 46071
Employee benefits payables 應付職工薪酬 61767 57949
Tax payables 應交稅費 2750 5019
Other payables 其他應付款 29511515 1477222
Non-current liabilities due within one year 一年內到期的非流動負債 4287027 4352942
Other current liabilities 其他流動負債 2821 807
Total current liabilities 流動負債合計 35362115 8708122
Non-current liabilities 非流動負債
Long-term borrowings 長期借款 4752500 4202873
Lease liabilities 租賃負債 16573 –
Deferred tax liabilities 遞延所得稅負債 231407 312666
Other non-current liabilities 其他非流動負債 62501 818
Total non-current liabilities 非流動負債合計 5062981 4516357
Total liabilities 負債合計 40425096 13224479
Shareholders’ equity 股東權益
Share capital 股本 2911143 2911143
Capital reserve 資本公積 56865744 56567975
Less: treasury shares 減：庫存股 1266944 1809920
Other comprehensive income 其他綜合收益 901114 760310
Surplus reserve 盈餘公積 1680978 1145432
Undistributed profit 未分配利潤 9077750 3451208
Total shareholders’ equity attributable 歸屬於母公司股東權益合計
to the parent company 70169785 63026148
Total shareholders’ equity 股東權益合計 70169785 63026148
Total liabilities and shareholders’ equity 負債和股東權益總計 110594881 76250627
The accompanying notes form an integral part of these financial 後附財務報表附註為本財務報表的組成部分
statementsAnnual Report 2023二零二三年年報127
Company Income Statement公司利潤表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
Note XVII 2023 2022附註十七二零二三年二零二二年
Operating revenue 營業收入 4 2743956 7707006
Less: Operating costs 減： 營業成本 4 2311685 6041303
Tax and surcharge 稅金及附加 15291 13184
Selling expenses 銷售費用 15768 10790
Administrative expenses 管理費用 255049 236647
Research and development expenses 研發費用 159991 102668
Finance expenses 財務費用 (61892) 37225
Including: Interest expenses 其中：利息費用 247307 501534
Interest income 利息收入 339925 447966
Add: Other income 加： 其他收益 37817 8885
Investment income 投資收益 5 9144389 1950851
Including: Investment income in 其中：對 聯營企業和合營企業的
associates and joint ventures 投資收益 1160891 582746
Loss on derecognition of 以攤餘成本計量的金融
financial assets measured at 資產終止確認損失
amortised cost – –
Gains from changes in fair value 公允價值變動收益 206857 467087
Impairment losses on credit 信用減值損失 (74134) 6580
Impairment losses on asset 資產減值損失 (73) (135)
Gains from disposal of assets 資產處置收益 666 (436)
Operating profit 營業利潤 9363586 3698021
Add: Non-operating income 加： 營業外收入 29009 13949
Less: Non-operating expenses 減： 營業外支出 34131 9055
Total profit 利潤總額 9358464 3702915
Less: Income tax expenses 減： 所得稅費用 (128149) 62299
Net profit 淨利潤 9486613 3640616128 BYD Company Limited比亞迪股份有限公司
Company Income Statement公司利潤表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
Note XVII 2023 2022附註十七二零二三年二零二二年
Classified by continuity of operation 按經營持續性分類
Including: Net profit from continuing operations 其中：持續經營淨利潤 9486613 3640616
Other comprehensive income 其他綜合收益 140804 550181
Other comprehensive income that cannot be 不能重分類進損益的其他綜合收益
reclassified to profit or loss
Changes in fair value of other equity instrument 其他權益工具投資公允價值變動
investments 187758 733004
Income tax impact 所得稅影響 (46940) (183251)
140818549753
Other comprehensive income that will be 將重分類進損益的其他綜合收益
reclassified to profit or loss
Changes in fair value of receivables financing 應收款項融資公允價值變動 (10) 477
Provision for credit impairment of receivables 應收款項融資信用減值準備
financing (4) (49)
(14)428
Total comprehensive income 綜合收益總額 9627417 4190797
The accompanying notes form an integral part of these financial 後附財務報表附註為本財務報表的組成部分
statementsAnnual Report 2023二零二三年年報129
Company Statement of Changes in Owners’ Equity公司股東權益變動表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
2023二零二三年
Less: Other Total
Share Capital treasury comprehensive Surplus Undistributed shareholders’
capital reserve shares income reserve profit equity其他綜合股東權益
股本資本公積減：庫存股收益盈餘公積未分配利潤合計
I. Closing balance for the previous 一、 上年年末及本年年初餘額
year and opening balance for the year 2911143 56567975 1809920 760310 1145432 3451208 63026148
II. Amount of change in the current year 二、 本年增減變動金額
(I) Total comprehensive income （一） 綜合收益總額 – – – 140804 – 9486613 9627417
(II) Capital contribution and reduction （二） 股東投入和減少資本
by shareholders
1 Share-based payment recognized 1 股份支付計入股東
in shareholders’ equity 權益的金額 – 825713 – – – – 825713
2 Effect of the vesting of restricted 2 解鎖限制性股票的
shares 影響 – (542976) (542976) – – – –
3 Others 3 其他 – 15032 – – – – 15032
(III) Profit distribution （三） 利潤分配
1 Appropriation to surplus reserve 1 提取盈餘公積 – – – – 535546 (535546) –
2 Distribution to shareholders 2 對股東的分配(note V. 44) （附註五、44) – – – – – (3324525) (3324525)III. Closing balance for the year 三、本年年末餘額 2911143 56865744 1266944 901114 1680978 9077750 70169785130 BYD Company Limited比亞迪股份有限公司
Company Statement of Changes in Owners’ Equity公司股東權益變動表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
2022二零二二年
Less: Other Total
Share Capital treasury comprehensive Surplus Undistributed shareholders’
capital reserve shares income reserve profit equity其他綜合股東權益
股本資本公積減：庫存股收益盈餘公積未分配利潤合計
I. Closing balance for the previous 一、 上年年末及本年年初餘額
year and opening balance for the year 2911143 56037659 – 210129 781370 480324 60420625
II. Amount of change in the current year 二、 本年增減變動金額
(I) Total comprehensive income （一） 綜合收益總額 – – – 550181 – 3640616 4190797
(II) Capital contribution and reduction （二） 股東投入和減少資本
by shareholders
1 Share-based payment 1 股份支付計入股東
recognized in 權益的金額
shareholders’ equity – 506057 – – – – 506057
2 Effect of the grant of 2 授予限制性股票的
restricted shares 影響 – – 1809920 – – – (1809920)
3 Others 3 其他 – 24259 – – – – 24259
(III) Profit distribution （三） 利潤分配
1 Appropriation to surplus 1 提取盈餘公積
reserve – – – – 364062 (364062) –
2 Distribution to shareholders 2 對股東的分配(note V. 44) （附註五、44) – – – – – (305670) (305670)III. Closing balance for the year 三、 本年年末餘額 2911143 56567975 1809920 760310 1145432 3451208 63026148
The accompanying notes form an integral part of these financial 後附財務報表附註為本財務報表的組成部分
statementsAnnual Report 2023二零二三年年報131
Company Cash Flow Statement公司現金流量表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
20232022
二零二三年二零二二年
I. Cash flows from operating activities: 一、 經營活動產生的現金流量：
Cash received from sales of goods and 銷售商品、提供勞務收到的現金
provision of services 2974114 10950688
Tax rebates received 收到的稅費返還 2900 90967
Cash received from other activities 收到其他與經營活動有關的現金
relating to operations 6474327 10737163
Sub-total of cash inflows from operating 經營活動現金流入小計
activities 9451341 21778818
Cash paid for goods and services 購買商品、接受勞務支付的現金 2149853 8960770
Cash paid to and on behalf of employees 支付給職工以及為職工支付的現金 446615 357963
Cash paid for various types of taxes 支付的各項稅費 15341 21609
Cash paid for other activities relating to 支付其他與經營活動有關的現金
operations 367030 3417639
Sub-total of cash outflows from operating 經營活動現金流出小計
activities 2978839 12757981
Net cash flow from operating activities 經營活動產生的現金流量淨額 6472502 9020837132 BYD Company Limited比亞迪股份有限公司
Company Cash Flow Statement公司現金流量表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
20232022
二零二三年二零二二年
II. Cash flow from investing activities: 二、 投資活動產生的現金流量：
Cash received from gains in investment 取得投資收益收到的現金 1534450 32270
Net cash received from disposals of fixed 處置固定資產、無形資產和其他
assets intangible assets and other long- 長期資產收回的現金淨額
term assets 52980 24382
Net cash received from disposal of 處置子公司及其他營業單位收到的
subsidiaries and other operating entities 現金淨額 28023 –
Cash received from other activities 收到其他與投資活動有關的
relating to investments 現金 24935 19
Sub-total of cash inflows from investing 投資活動現金流入小計
activities 1640388 56671
Cash paid for purchase and construction 購建固定資產、無形資產和
of fixed assets intangible assets and other 其他長期資產支付的現金
long-term assets 341320 221844
Cash paid for investments 投資支付的現金 4209898 9643496
Cash paid for other activities relating to 支付其他與投資活動有關的現金
investments 13963979 45625
Sub-total of cash outflows from investing 投資活動現金流出小計
activities 18515197 9910965
Net cash flows used in investing activities 投資活動使用的現金流量淨額 (16874809) (9854294)Annual Report 2023二零二三年年報133
Company Cash Flow Statement公司現金流量表
31 December 2023
二零二三年十二月三十一日
RMB’000人民幣千元
20232022
二零二三年二零二二年
III. Cash flows from financing activities: 三、 籌資活動產生的現金流量：
Cash received from borrowings 取得借款收到的現金 4812500 6400000
Cash received from other activities relating 收到的其他與籌資活動有關的現金
to financing 22395290 –
Sub-total of cash inflows from financing 籌資活動現金流入小計
activities 27207790 6400000
Cash paid for repayment of debts 償還債務所支付的現金 5800000 13161584
Cash payments for distribution of dividends 分配股利、利潤或償付利息支付的
profits or interest expenses 現金 3616588 972440
Cash paid for other activities relating to 支付其他與籌資活動有關的現金
financing 21125 1817079
Sub-total of cash outflows from financing 籌資活動現金流出小計
activities 9437713 15951103
Net cash flows from/(used in) financing 籌資活動產生╱（使用）的現金流量
activities 淨額 17770077 (9551103)
IV. Effect of foreign exchange rate changes 四、 匯率變動對現金及現金等價物的
on cash and cash equivalents 影響 (46) 36255
V. Net increase/(decrease) in cash and 五、 現金及現金等價物淨增加╱
cash equivalents （減少）額 7367724 (10348305)
Add: opening balance of cash and cash 加：年初現金及現金等價物餘額
equivalents 7451972 17800277
VI. Closing balance of cash and cash 六、 年末現金及現金等價物餘額
equivalents at the end of the year 14819696 7451972
The accompanying notes form an integral part of these financial 後附財務報表附註為本財務報表的組成部分
statements134 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
I. CORPORATE BACKGROUND 一、 基本情況
BYD Company Limited (the “Company”) is a joint stock 比亞迪股份有限公司（「本公司」）是一家在中
company incorporated in Guangdong Province the People’s 華人民共和國廣東省註冊成立的股份有限
Republic of China with limited liability. The Company formerly 公司。本公司前身為深圳市比亞迪實業有known as Shenzhen BYD Battery Company Limited (深圳 限公司，二零零二年經原國家經貿委以《關市比亞迪實業有限公司) was approved by the former State 於同意設立比亞迪股份有限公司的批覆》Economic and Trade Commission in 2002 as evidenced （國經貿企改 [2002]153號）以及《關於同意by the approval document “Reply of Consenting to the 比亞迪股份有限公司調整股本結構的覆函》Establishment of BYD Company Limited” (Guo Jing Mao （國經貿廳企改[2002]348號）批准，深圳市Qi Gai [2002] No.153) and the approval document “Reply 比亞迪實業有限公司以二零零二年四月三of Consenting to the Adjustment of Capital Structure of 十日經審計的淨資產為基礎，於二零零二BYD Company Limited” (Guo Jing Mao Ting Qi Gai [2002] 年六月十一日整體變更設立本公司。本公No.348). Shenzhen BYD Battery Company Limited (深圳 司目前持有深圳市市場監督管理局頒發的市比亞迪實業有限公司) was overall restructured into the 《企業法人營業執照》（統一社會信用代碼：Company on 11 June 2002 based on the audited net assets 91440300192317458F)，截至二零二三年value as at 30 April 2002. The Company currently holds 十二月三十一日，本公司所發行人民幣普通the Enterprise Legal Person Business License issued by 股A股為1813143千股已在深圳證券交易所
Shenzhen Administration for Market Regulation (unified 上市，H股1098000千股已在香港聯交所上social credit code: 91440300192317458F). As at 31 市。本公司住所為廣東省深圳市大鵬新區葵December 2023 1813143000 ordinary shares (A shares) 涌街道延安路1號，辦公地址為廣東省深圳and 1098000000 H shares issued by the Company were 市坪山新區比亞迪路3009號。
listed on the Shenzhen Stock Exchange and the Hong Kong
Stock Exchange respectively. The Company is domiciled at
1 Yan’ An Road Kui Chong Street 1Dapeng New District
Shenzhen Guangdong Province with an office address
at No.3009 BYD Road Pingshan New District Shenzhen
Guangdong Province.The Group is principally engaged in automobile business 本集團主要從事以新能源汽車為主的汽車業
which mainly includes new energy vehicles handset 務、手機部件及組裝業務，二次充電電池及components and assembly services rechargeable batteries 光伏業務，同時利用自身的技術優勢積極拓and photovoltaics business. Meanwhile with its technological 展城市軌道交通業務領域。
super ior i ty the Group act ively develops urban rai l
transportation business segment.The Company’s direct largest shareholder and ultimate 本公司直接第一大股東和最終第一大股東均
largest shareholder is Wang Chuan-fu a natural person with 為自然人王傳福，持股比例為17.81%。
a shareholding percentage of 17.81%.The financial statements were approved for issue by the 本財務報表業經本公司董事會於二零二四年
board of directors of the Company by way of resolution on 三月二十六日決議批准報出。根據本公司章
26 March 2024. According to the Articles of Association the 程，本財務報表將遞交股東大會審議。
financial statements will be submitted to the general meeting
for approval.Annual Report 2023二零二三年年報135
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
II. BASIS OF PREPARATION OF THE FINANCIAL 二、 財務報表的編製基礎
STATEMENTSThe financial statements have been prepared in accordance 本財務報表按照財政部頒佈的《企業會計準with the “Accounting Standards for Business Enterprises 則 – 基本準則》以及其後頒佈及修訂的具體– Basic Standard” issued by the Ministry of Finance and 會計準則、應用指南、解釋以及其他相關規
the specific accounting standards application guidelines 定（統稱「企業會計準則」）編製。此外，本財interpretations and other relevant regulations issued and 務報表還按照《公開發行證券的公司信息披revised thereafter (collectively known as the “ASBE”). In 露編報規則第15號 –– 財務報告的一般規定》
addition the financial statements have been disclosed relevant 披露有關財務信息。
financial information in accordance with the “Compilation Rulesfor Information Disclosures by Companies Offering Securitiesto the Public No. 15 – General Provisions on Financial Reports”.The financial statements are prepared on a going concern 本財務報表以持續經營為基礎列報。截至二basis. As at 31 December 2023 the Group had net 零二三年十二月三十一日，本集團淨流動負current liabilities of RMB151545225000. In view of such 債為人民幣151545225千元，鑒於這種情circumstances the management of the Company has given 況，本公司管理層在評估本集團是否具備足consideration to the future liquidity and financial resources 夠財務資源以持續經營時，已考慮本集團的available to the Group which mainly include the net cash flows 未來流動資金狀況以及可動用的財務資源，generated from the Group’s operating activities and financial 主要包括本集團經營活動產生的現金流量淨
credit facilities in assessing whether the Group will have 額和擁有金融信貸額度，不會因營運資金的sufficient financial resources to continue as a going concern 短缺而面臨有關持續經營方面的問題，因and will not have any going concern issue as a result of the 此，本公司管理層認為以持續經營為基礎編shortage of working capital. Therefore the management of the 製本財務報表是適當的。
Company is of the opinion that it is appropriate to prepare the
financial statements on a going concern basis.136 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計
ACCOUNTING ESTIMATES
The specific accounting policies and accounting estimates 本集團根據實際生產經營特點制定了具體會
prepared by the Group based on actual production and 計政策和會計估計，主要體現在收入確認和operation characteristics mainly include revenue recognition 計量、應收款項和合同資產預期信用損失、
and measurement expected credit losses on trade receivables 固定資產折舊、無形資產攤銷、開發階段支
and contract assets depreciation of fixed assets amortisation 出資本化條件、非流動資產減值等。
of intangible assets capitalisation conditions for development
phase expenses and impairment of non-current assets etc.
1. Statement of compliance with ASBE 1. 遵循企業會計準則的聲明
The financial statements have been prepared in accordance 本財務報表符合企業會計準則的要求，真with the ASBE and presented truly and completely the 實、完整地反映了本公司及本集團於二零二
financial position of the Company and the Group as at 31 三年十二月三十一日的財務狀況以及二零二
December 2023 and the results of their operations and their 三年度的經營成果和現金流量。
cash flows for the year 2023.
2. Financial year 2. 會計期間
The financial year of the Group is from 1 January to 31 本集團會計年度採用公曆年度，即每年自一December of each calendar year. 月一日起至十二月三十一日止。
3. Reporting currency 3. 記賬本位幣
The Company’s reporting currency and the currency used 本公司記賬本位幣和編製本財務報表所採用
in preparing the financial statements were Renminbi. The 的貨幣均為人民幣，除有特別說明外，均以amounts in the financial statements were denominated in 人民幣千元為單位表示。
thousands of Renminbi unless otherwise stated.The Group’s subsidiaries joint ventures and associates 本集團下屬子公司、合營企業及聯營企業，determine their reporting currency according to the major 根據其經營所處的主要經濟環境自行決定其
economic environment in which they operate the business 記賬本位幣，編製本財務報表時折算為人民and translate into Renminbi when preparing the financial 幣。
statements.Annual Report 2023二零二三年年報137
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
4. Method and basis for determination of materiality 4. 重要性標準確定方法和選擇依據
Materiality standard重要性標準
Significant recovery or reversal of provision for bad The recovery or reversal amount for a single item accounts
debt of trade receivables for more than 10% of the total provision for bad debt of trade
receivables and exceeds RMB300 million
應收款項壞賬準備收回或轉回金額重要的單項收回或轉回金額佔各類應收款項壞賬準備總額的10%以上且金額大於3億
Significant write-off of trade receivables The write-off amount for a single item accounts for more than
10% of the total provision for bad debt of trade receivables and
exceeds RMB300 million
重要的應收款項實際核銷單項核銷金額佔應收款項壞賬準備總額的10%以上且金額大於3億
Prepayments of significant amounts and with aging The amount of a single prepayment with aging of
of over 1 year over 1 year accounts for more than 10% of the total prepayments
and exceeds for RMB300 million
賬齡超過1年且金額重要的預付款項單項賬齡超過1年的預付款項佔預付款項總額的10%以上且金額大於3億
Significant change in the carrying amount of The amount of change in the carrying amount of contract assets
contract assets accounts for more than 30% of the total contract assets
合同資產賬面價值發生重大變動合同資產賬面價值變動金額佔合同資產總額的30%以上
Significant recovery or reversal of provision for The recovery or reversal amount for a single item accounts for
impairment of contract assets more than 10% of the total provision for impairment of contract
assets and exceeds RMB300 million
合同資產減值準備收回或轉回金額重要的單項收回或轉回金額佔合同資產減值準備總額的10%以上且金額大於3億
Major construction in progress The balance of industrial parks under construction in a single
geographical area accounts for more than 10% of the balance of
the total construction in progress and exceeds RMB1000 million重要的在建工程單個地理區域內的工業園在建工程餘額大於總在建工程餘額的
10%且大於10億138 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
4. Method and basis for determination of materiality 4. 重要性標準確定方法和選擇依據（續）
(continued)
Materiality standard重要性標準
Significant capitalised R&D projects The balance of development expenditures of a single project at
the end of the period accounts for more than 10% of the closing
balance of total development expenditures and exceeds RMB500
million
重要的資本化研發項目單個項目期末餘額佔開發支出期末餘額10%以上且金額大於5億
Significant outsourced in-process R&D projects The development expenditures of a single project accounts for
more than 10% of the total development expenditures
重要的外購在研項目單項佔研發投入總額的10%以上
Significant contract changes The amount of change/adjustment accounts for more than 30%
of the original contract value and the effect on the revenue of
the period accounts for more than 1% of the total revenue of the
period
重要的合同變更變更╱調整金額佔原合同額的30%以上，且對本期收入影響金額佔本期收入總額的1%以上
Significant contract liabilities with aging of The amount of a single contract liability with aging of
over 1 year over 1 year accounts for more than 10% of
the total contract liabilities and exceeds RMB500 million
賬齡超過一年的重要合同負債單項賬齡超過1年的合同負債佔合同負債總額的10%以上且金額大於5億
Significant changes in the carrying amount of The amount of change in the carrying amount of contract
contract liabilities liabilities accounts for more than 30% of the
total contract liabilities
合同負債賬面價值發生重大變動合同負債賬面價值變動金額佔合同負債總額的30%以上
Significant trade payables and other payables The amount of a single item of trade payable/other payable with
aging of over 1 year accounts for more than 10% of the total
trade payables/other payables and exceeds RMB500 million
重要的應付賬款、其他應付款賬齡超過1年的單項應付賬款╱其他應付款佔應付賬款╱
其他應付款總額的10%以上且金額大於5億
Significant investments The amount of a single investment accounts for more than 10%
of the total cash inflow or outflow related to investing activities
and exceeds RMB1000 million重要投資活動單項投資活動佔收到或支付投資活動相關的現金流入或流出總額
的10%以上且金額大於10億Annual Report 2023二零二三年年報139
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
4. Method and basis for determination of materiality 4. 重要性標準確定方法和選擇依據（續）
(continued)
Materiality standard重要性標準
Material joint ventures and associates The carrying amount of the long-term equity investment in an
investee accounts for more than 5% of the Group’s net assets
attributable to
the parent company and the gains or losses on the long-term
equity investment measured under the equity method accounts
for more than 10% of the Group’s consolidated net profit重要的合營企業或聯營企業對單個被投資單位的長期股權投資賬面價值佔集團歸屬母公司
淨資產的5%以上，且長期股權投資權益法下投資損益佔集團合併淨利潤的10%以上
Major subsidiaries The net assets of a subsidiary accounts for more than 5% of the
Group’s net assets attributable to the parent company
or the net profit of a subsidiary accounts for
more than 10% of the Group’s consolidated net profit
重要子公司子公司淨資產佔集團歸屬母公司淨資產5%以上，或子公司淨利潤佔集團合併淨利潤的10%以上
Major non-wholly owned subsidiaries The net assets of a subsidiary accounts for more than 5% of the
Group’s net assets attributable to the parent company
and the non-controlling interests of a subsidiary accounts for
more than 1% of the Group’s net assets
重要的非全資子公司子公司淨資產佔集團歸屬母公司淨資產5%以上，且單個子公司少數股東權益佔集團淨資產的1%以上
Significant activities which do not involve cash The activity does not involve current cash receipts and
receipts and disbursements for the current period disbursements with its effect on the financial statements of the
period accounting for more than 10% of the net assets or the
expected effect on the future cash flow accounting for more than
10% of the corresponding total cash inflow or outflow
不涉及當期現金收支的重大活動不涉及當期現金收支，對當期報表影響超過淨資產10%，或預計對未來現金流影響超過相對應現金流入或流出總額
的10%的活動140 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
5. Business combination 5. 企業合併
Business combinat ions are c lass i f ied in to business 企業合併分為同一控制下企業合併和非同一
combinations involving entities under common control and 控制下企業合併。
business combinations not involving entities under common
control.Business combinations involving entities under common 同一控制下企業合併
control
A business combination involving entities under common 參與合併的企業在合併前後均受同一方或相
control is a business combination in which all of the combining 同的多方最終控制，且該控制並非暫時性entities are ultimately controlled by the same party or parties 的，為同一控制下企業合併。
both before and after the business combination and that
control is not transitory.Assets and liabilities obtained by combining party in the 合併方在同一控制下企業合併中取得的資產business combination involving entities under common control 和負債（包括最終控制方收購被合併方而形成(including goodwill arising from the acquisition of the merged 的商譽），按合併日在最終控制方財務報表中party by the ultimate controller) are recognised on the basis 的賬面價值為基礎進行相關會計處理。合併of their carrying amounts at the combination date recorded on 方取得的淨資產賬面價值與支付的合併對價
the financial statements of the ultimate controlling party. The 的賬面價值（或發行股份面值總額）的差額，difference between the carrying amount of the consideration 調整資本公積中的股本溢價，不足衝減的則paid for the combination (or aggregate face values of the 調整留存收益。
shares issued) and the carrying amount of the net assets
obtained is adjusted to capital reserves. If the capital reserve
is not sufficient to absorb the difference any excess shall be
adjusted against retained earnings.Business combinations not involving entities under common 非同一控制下企業合併
control
A business combination not involving entities under common 參與合併的企業在合併前後不受同一方或相
control is a business combination in which all of the combining 同的多方最終控制的，為非同一控制下企業entities are not ultimately controlled by the same party or 合併。
parties both before and after the business combination.Annual Report 2023二零二三年年報141
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
5. Business combination (continued) 5. 企業合併（續）
Business combinations not involving entities under common 非同一控制下企業合併（續）
control (continued)
The acquiree’s identifiable assets liabilities and contingent 非同一控制下企業合併中所取得的被購買方
liabilities are recognised at their fair values at the acquisition 可辨認資產、負債及或有負債在收購日以公
date. The excess of the sum of the cost for business 允價值計量。合併成本大於合併中取得的被combination over the share of the attributable net identifiable 購買方可辨認淨資產公允價值份額的差額，assets of the acquiree measured at fair value was recognised 確認為商譽，並以成本減去累計減值損失進as goodwill which is subsequently measured at cost less 行後續計量。合併成本小於合併中取得的被cumulative impairment loss. In case the cost for business 購買方可辨認淨資產公允價值份額的，對取combination is less than the fair value of the share of the 得的被購買方各項可辨認資產、負債及或有
attributable net identifiable assets of the acquiree a review of 負債的公允價值以及合併成本的計量進行覆
the measurement of the fair values of the identifiable assets 核，覆核後合併成本仍小於合併中取得的被liabilities and contingent liabilities the cost for business 購買方可辨認淨資產公允價值份額的，其差combination is conducted. If the review indicates that the fair 額計入當期損益。
value of the sum of the cost for business combination is indeed
less than the fair value of the share of the attributable net
identifiable assets of the acquiree the difference is recognised
in profit or loss.
6. Consolidated financial statements 6. 合併財務報表
The consolidation scope for consolidated financial statement 合併財務報表的合併範圍以控制為基礎確
is determined based on the concept of control including 定，包括本公司及全部子公司的財務報表。
the Company and all subsidiaries’ financial statements. 子公司，是指被本集團控制的主體（含企業、Subsidiaries are those enterprises or entities which the Group 被投資單位中可分割的部分，以及本公司所has control over (including enterprises separable components 控制的結構化主體等）。當且僅當投資方具備of investee units and structured entities controlled by the 下列三要素時，投資方能夠控制被投資方：
Company). The investor can control the investee if and only if 投資方擁有對被投資方的權力；因參與被投
the investor meets the following three elements: power over the 資方的相關活動而享有可變回報；有能力運
investee; the entitlement to variable return through involvement 用對被投資方的權力影響其回報金額。
in the activities of the investee; the ability to influence the
amount of return using the power over the investee.Where the accounting policies or accounting periods adopted 子公司與本公司採用的會計政策或會計期間
by subsidiaries are inconsistent with those of the Company 不一致的，在編製合併財務報表時，按照本appropriate adjustments are made to the subsidiaries’ 公司的會計政策和會計期間對子公司財務報
financial statements in accordance with the accounting 表進行必要的調整。本集團內部各公司之間policies and accounting periods of the Company. All assets 的所有交易產生的資產、負債、權益、收
liabilities equities income costs and cash flows arising from 入、費用和現金流量於合併時全額抵銷。
intercompany transactions and dividends are eliminated on
consolidation.The excess of current loss attributable to minority shareholders 子公司少數股東分擔的當期虧損超過了少數
of a subsidiary over their entitlements to the opening balance 股東在該子公司期初股東權益中所享有的份
of shareholders’ equity shall be charged to minority interests. 額的，其餘額仍衝減少數股東權益。142 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
6. Consolidated financial statements (continued) 6. 合併財務報表（續）
For subsidiaries obtained through a business combination 對於通過非同一控制下企業合併取得的子公
not involving entities under common control the operating 司，被購買方的經營成果和現金流量自本集results and cash flows of the acquirees will be recognised in 團取得控制權之日起納入合併財務報表，直consolidated financial statements from the date the Group 至本集團對其控制權終止。在編製合併財務effectively obtains the control until the date that control is 報表時，以購買日確定的各項可辨認資產、terminated. When consolidated financial statement is prepared 負債及或有負債的公允價值為基礎對子公司
the subsidiaries’ financial statements will be adjusted based 的財務報表進行調整。
on the fair values of the identifiable assets liabilities and
contingent liabilities at the acquisition date.For subsidiaries obtained through a business combination 對於通過同一控制下企業合併取得的子公
involving entities under common control the operating result 司，被合併方的經營成果和現金流量自合併and cash flow of the party being combined will be recognised 當期期初納入合併財務報表。編製比較合併in consolidated financial statement from the beginning of 財務報表時，對前期財務報表的相關項目進the current period during which the combination occurs. In 行調整，視同合併後形成的報告主體，自最preparing the comparative consolidated financial statements 終控制方開始實施控制時一直存在。
adjustments were made to relevant i tems in f inancial
statements in previous periods as if the reporting entity formed
after the consolidation had been in existence since the ultimate
controlling party started to exercise effective control.In the event of the change in one or more elements of control 如果相關事實和情況的變化導致對控制要素
as a result of changes in relevant facts and conditions the 中的一項或多項發生變化的，本集團重新評Group reassesses whether it has control over the investee. 估是否控制被投資方。
Where there is no loss of control the change in minority 不喪失控制權情況下，少數股東權益發生變interests is accounted for as equity transaction. 化作為權益性交易。
7. Classification of joint venture arrangements and joint 7. 合營安排分類及共同經營
operation
Joint venture arrangements are in the form of joint operation 合營安排分為共同經營和合營企業。共同經and joint venture enterprise. A joint operation is a joint venture 營，是指合營方享有該安排相關資產且承擔arrangement under which the joint venture parties are entitled 該安排相關負債的合營安排。合營企業，是to assets and undertake liabilities under the arrangement. A 指合營方僅對該安排的淨資產享有權利的合
joint venture enterprise is a joint venture arrangement under 營安排。
which the joint venture parties are only entitled to the net
assets under such arrangement.The following items should be recognised by a joint venture 合營方確認其與共同經營中利益份額相關的
party in relation to its share of profit in the joint operation: 下列項目：確認單獨所持有的資產，以及按solely held assets as well as jointly held assets according to 其份額確認共同持有的資產；確認單獨所承
its share; solely assumed liabilities as well as jointly assumed 擔的負債，以及按其份額確認共同承擔的負liabilities according to its share; income derived from its 債；確認出售其享有的共同經營產出份額所
entitled share of production of the joint operation; income 產生的收入；按其份額確認共同經營因出售
derived from the sales of production of the joint operation 產出所產生的收入；確認單獨所發生的費
according to its share; solely incurred expenses as well as 用，以及按其份額確認共同經營發生的費expenses incurred by the joint operation according to its share. 用。Annual Report 2023二零二三年年報143
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
8. Cash and cash equivalents 8. 現金及現金等價物
Cash represents cash on hand and deposits readily available 現金，是指本集團的庫存現金以及可以隨時for payments. Cash equivalents represent short-term highly 用於支付的存款；現金等價物，是指本集團liquid investments which are readily convertible to known 持有的期限短、流動性強、易於轉換為已知
amounts of cash and subject to an insignificant risk of 金額的現金、價值變動風險很小的投資。
changes in value.
9. Foreign currency translation 9. 外幣業務和外幣報表折算
For foreign currency transactions the Group translates the 本集團對於發生的外幣交易，將外幣金額折foreign currency into its functional currency. 算為記賬本位幣金額。
Upon initial recognition foreign currency transactions are 外幣交易在初始確認時，採用交易發生當月translated into the functional currency using the median 月初中國人民銀行公佈的中間匯率（除非匯率exchange rate published by the PBOC at the beginning of 波動使得採用該匯率折算不適當，則採用交the month in which transactions occur (unless the adoption 易發生日的即期匯率折算）將外幣金額折算
of such exchange rate is considered inappropriate owing to 為記賬本位幣金額，但投資者以外幣投入的exchange rate fluctuations in which case the spot exchange 資本以交易發生日的即期匯率折算。於資產rate prevailing on the date of transaction shall be adopted). 負債表日，對於外幣貨幣性項目採用資產負However the capital invested by investors in foreign currencies 債表日即期匯率折算。由此產生的結算和貨is translated using the spot exchange rate at the dates of 幣性項目折算差額，除屬於與購建符合資本the transactions. At the balance sheet date foreign currency 化條件的資產相關的外幣專門借款產生的差
monetary items are translated using the spot exchange rate at 額按照借款費用資本化的原則處理外，均計the balance sheet date. The translation differences arising from 入當期損益。以歷史成本計量的外幣非貨幣the settlement and foreign currency monetary items except 性項目，仍採用初始確認時所採用的匯率折those relating to foreign currency monetary items eligible for 算，不改變其記賬本位幣金額。以公允價值the capitalisation shall be dealt with according to the principle 計量的外幣非貨幣性項目，採用公允價值確of capitalisation of borrowing costs are recognised in profit 定日的即期匯率折算，由此產生的差額根據or loss. Foreign currency non-monetary items measured at 非貨幣性項目的性質計入當期損益或其他綜
historical cost continue to be translated using the exchange 合收益。
rate at initial recognition and it does not change its carrying
amount in functional currency. Foreign currency non-monetary
items measured at fair values will be translated using the spot
exchange rate at the date the fair value is determined; the
exchange differences are recognised in profit or loss or other
comprehensive income for the current period depending on
the characteristics of the non-monetary items.144 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
9. Foreign currency translation (continued) 9. 外幣業務和外幣報表折算（續）
For foreign operations the Group translates their functional 對於境外經營，本集團在編製財務報表時將currency amounts into RMB when preparing the financial 其記賬本位幣折算為人民幣：對資產負債表
statements as follows: the assets and liabilities are translated 中的資產和負債項目，採用資產負債表日的using the spot exchange rate at the balance sheet date 即期匯率折算，所有者權益項目除「未分配利and owners’ equity items except for “undistributed profits” 潤」項目外，其他項目採用發生時的即期匯率are translated at the spot exchange rates when such items 折算；利潤表中的收入和費用項目，採用交arose; income and expense items in the income statement 易發生當期平均匯率（除非匯率波動使得採用are translated using the average exchange rates for the 該匯率折算不適當，則採用交易發生日的即periods when transactions occur (unless the adoption of 期匯率折算）折算。按照上述折算產生的外幣such exchange rate is considered inappropriate owing to 財務報表折算差額，確認為其他綜合收益。
exchange rate fluctuations in which case the spot exchange 處置境外經營時，將與該境外經營相關的其rate prevailing on the date of transaction shall be adopted). 他綜合收益轉入處置當期損益，部分處置的Translation differences arising from the aforesaid translation 按處置比例計算。對於在可預見的未來無需of financial statements denominated in foreign currency 償還、實質構成對境外子公司的淨投資的外
shall be recognised as other comprehensive income. When 幣貨幣性項目，以母子公司的記賬本位幣以foreign operations are disposed other comprehensive income 外的貨幣反映的，管理層將母子公司的此項relating to the foreign operation is transferred to profit or 外幣貨幣性項目產生的匯兌差額相互抵消，loss. Partial disposal shall be recognized on a pro-rata basis. 差額計入外幣報表折算差額。
For foreign currency monetary items that are not repayable
in the foreseeable future and that in substance constitute a
net investment in a foreign subsidiary and are reflected in
a currency other than the reporting currency of the parent
subsidiary management eliminates the exchange differences
arising from such foreign currency monetary items of the
parent subsidiary and the difference is included in exchange
difference on foreign currency translation.Cash flows denominated in foreign currencies and foreign 外幣現金流量以及境外子公司的現金流量，subsidiaries’ cash flows are translated using the average 採用現金流量發生當期平均匯率（除非匯率波exchange rate for the period when cash flows occur (unless the 動使得採用該匯率折算不適當，則採用現金adoption of such exchange rate is considered inappropriate 流量發生日的即期匯率折算）折算。匯率變動owing to exchange rate fluctuations in which case the spot 對現金的影響額作為調節項目，在現金流量exchange rate prevailing on the date on which the cash flow 表中單獨列報。
is incurred shall be adopted). The impact on cash by the
fluctuation of exchange rates is presented as a separate line
item of reconciliation in the cash flow statement.Annual Report 2023二零二三年年報145
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
10. Financial instruments 10. 金融工具
Financial instruments refer to the contracts which give rise to 金融工具，是指形成一個企業的金融資產，a financial asset in one entity and a financial liability or equity 並形成其他單位的金融負債或權益工具的合
instrument in another entity. 同。
Recognition and derecognition of financial instruments 金融工具的確認和終止確認
The Group recognises a financial asset or a financial liability 本集團於成為金融工具合同的一方時確認一
when it becomes a party to the contractual provisions of the 項金融資產或金融負債。
financial instrument.A financial asset (or part of it or a part of a group of similar 滿足下列條件的，終止確認金融資產（或金融financial asset) is derecognised when one of the following 資產的一部分，或一組類似金融資產的一部criteria is met that is when a financial asset is written off from 分），即從其賬戶和資產負債表內予以轉銷：
its account and balance sheet:
1) The right of receiving the cash flow generated from the 1) 收取金融資產現金流量的權利屆滿；
financial asset has expired;
2) The right of receiving cash flow generated by the 2) 轉移了收取金融資產現金流量的權
financial assets is transferred or an obligation of 利，或在「過手」協議下承擔了及時將paying the full amount of cash flow received to third 收取的現金流量全額支付給第三方的
parties in a timely manner has been undertaken under 義務；並且實質上轉讓了金融資產所
“pass-through” agreements where substantially all 有權上幾乎所有的風險和報酬，或雖risks and rewards of the ownership of such type of 然實質上既沒有轉移也沒有保留金融
financial assets have been transferred or control over 資產所有權上幾乎所有的風險和報
such type of financial assets has not been retained 酬，但放棄了對該金融資產的控制。
even though substantially all risks and rewards of the
ownership of such type of financial assets have been
neither transferred nor retained.If the obligation of financial liability has been fulfilled cancelled 如果金融負債的責任已履行、撤銷或屆滿，or expired the financial liability is derecognised. If the present 則對金融負債進行終止確認。如果現有金融financial liability is substituted by the same debtor with another 負債被同一債權人以實質上幾乎完全不同條
liability differing in substance or the terms of the present 款的另一金融負債所取代，或者現有負債的liability have been substantially modified this substitution or 條款幾乎全部被實質性修改，則此類替換或modification is treated as derecognition of the present liability 修改作為終止確認原負債和確認新負債處
and recognition of a new liability with any arising differences 理，差額計入當期損益。
recognised in profit or loss.Conventional dealings in financial assets are recognised or 以常規方式買賣金融資產，按交易日進行確derecognised under the trade day method. Conventional 認和終止確認。以常規方式買賣金融資產，dealings in financial assets are purchases or sales of financial 是指按照合同規定購買或出售金融資產，並assets in accordance with the terms of a contract which 且該合同條款規定，根據通常由法規或市場specifies that the delivery of the financial assets will take place 慣例所確定的時間安排來交付金融資產。交according to the schedule determined by regulations or market 易日，是指本集團承諾買入或賣出金融資產practices. The trade day is the date on which the Group 的日期。
undertakes to buy or sell a financial asset.146 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
10. Financial instruments (continued) 10. 金融工具（續）
Classification and valuation of financial assets 金融資產分類和計量
At initial recognition the Group classifies its financial assets 本集團的金融資產於初始確認時根據本集團
into: financial assets at amortised cost financial assets at fair 管理金融資產的業務模式和金融資產的合同
value through other comprehensive income or financial assets 現金流量特徵分類為：以攤餘成本計量的金
at fair value through profit or loss according to the Group’s 融資產、以公允價值計量且其變動計入其他
business model for managing financial assets and the contract 綜合收益的金融資產、以公允價值計量且其
cash flow characteristics of the financial assets. Only if the 變動計入當期損益的金融資產。當且僅當本Group changes its business model for managing financial 集團改變管理金融資產的業務模式時，才對assets all affected related financial assets can be reclassified. 所有受影響的相關金融資產進行重分類。
Financial assets are measured at fair value at ini t ia l 金融資產在初始確認時以公允價值計量，但recognition provided that trade receivables or bills receivable 是因銷售商品或提供服務等產生的應收賬款
not containing significant financing components or for which 或應收票據未包含重大融資成分或不考慮不
financing components of not more than 1 year are not taken 超過一年的融資成分的，按照交易價格進行into consideration shall be measured at their transaction prices 初始計量。
at initial recognition.For financial assets at fair value through profit or loss the 對於以公允價值計量且其變動計入當期損益
relevant transaction costs are directly recognised in profit or 的金融資產，相關交易費用直接計入當期損loss; for other financial assets the relevant transaction costs 益，其他類別的金融資產相關交易費用計入are recognised in their initial recognition amount. 其初始確認金額。
The subsequent measurement of financial assets is dependent 金融資產的後續計量取決於其分類：
on its classification:
Debt instrument investments at amortised cost 以攤餘成本計量的債務工具投資
Financial assets fulfilling all of the following conditions are 金融資產同時符合下列條件的，分類為以攤classified as financial assets at amortised cost: the objective 餘成本計量的金融資產：管理該金融資產的
of the Group’s business management model in respect of such 業務模式是以收取合同現金流量為目標；該
type of financial assets is to generate contract cash flow; the 金融資產的合同條款規定，在特定日期產生contract terms of such type of financial assets provide that 的現金流量僅為對本金和以未償付本金金額
cash flow generated on specific dates represents interest 為基礎的利息的支付。此類金融資產採用實payment in relation to principal amounts based on outstanding 際利率法確認利息收入，其終止確認、修改principal amounts only. Interest income from such type of 或減值產生的利得或損失，均計入當期損financial assets are recognised using the effective interest 益。
rate method and any profit or loss arising from derecognition
amendments or impairment shall be charged to profit or loss.Annual Report 2023二零二三年年報147
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
10. Financial instruments (continued) 10. 金融工具（續）
Classification and valuation of financial assets (continued) 金融資產分類和計量（續）
Debt instrument investments at fair value through other 以公允價值計量且其變動計入其他綜合收益
comprehensive income 的債務工具投資
Financial assets fulfilling all of the following conditions are 金融資產同時符合下列條件的，分類為以公classified as financial assets at fair value through other 允價值計量且其變動計入其他綜合收益的金
comprehensive income: the objective of the Group’s business 融資產：本集團管理該金融資產的業務模式
management model in respect of such type of financial assets 是既以收取合同現金流量為目標又以出售金
is both to generate contract cash flow and to sell such type of 融資產為目標；該金融資產的合同條款規
financial assets; the contract terms of such type of financial 定，在特定日期產生的現金流量僅為對本金assets provide that cash flow generated on specific dates 和以未償付本金金額為基礎的利息的支付。
represents interest payment in relation to principal amounts 此類金融資產採用實際利率法確認利息收
based on outstanding principal amounts only. Interest income 入。除利息收入、減值損失及匯兌差額確認from this type of financial assets are recognized using the 為當期損益外，其餘公允價值變動計入其他effective interest rate method. Other than interest income 綜合收益。當金融資產終止確認時，之前計impairment loss and exchange differences which shall be 入其他綜合收益的累計利得或損失從其他綜
recognised as profit or loss other fair value changes shall be 合收益轉出，計入當期損益。
included in other comprehensive income. Upon derecognition
of the financial assets the cumulative gains or losses
previously included in other comprehensive income shall be
transferred from other comprehensive income to profit or loss.Equity instrument investments at fair value through other 以公允價值計量且其變動計入其他綜合收益
comprehensive income 的權益工具投資
The Group irrevocably chooses to designate certain non- 本集團不可撤銷地選擇將部分非交易性權益
trading equity instrument investments as financial assets 工具投資指定為以公允價值計量且其變動計
measured at fair value through other comprehensive income 入其他綜合收益的金融資產，僅將相關股利and only the relevant dividend income (excluding dividend 收入(明確作為投資成本部分收回的股利收入
income explicitly recovered as part of investment cost) is 除外)計入當期損益，公允價值的後續變動計included in profit or loss for the period. Subsequent changes 入其他綜合收益，不需計提減值準備。當金in fair value are included in other comprehensive income with 融資產終止確認時，之前計入其他綜合收益no impairment provision required. When the financial assets 的累計利得或損失從其他綜合收益轉出，計are derecognised the cumulative gains or losses previously 入留存收益。
recognised in other comprehensive income are transferred
from it and included in retained earnings.148 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
10. Financial instruments (continued) 10. 金融工具（續）
Classification and valuation of financial assets (continued) 金融資產分類和計量（續）
Financial assets measured at fair value through profit or loss 以公允價值計量且其變動計入當期損益的金融資產
Financial assets other than the above-mentioned financial 上述以攤餘成本計量的金融資產和以公允價
assets measured at amortised cost and financial assets 值計量且其變動計入其他綜合收益的金融資
measured at fair value through other comprehensive income 產之外的金融資產，分類為以公允價值計量are classified as financial assets at fair value through profit 且其變動計入當期損益的金融資產。對於此or loss. For such financial assets fair value is used for 類金融資產，採用公允價值進行後續計量，subsequent measurement and all changes in fair value are 除與套期會計有關外，所有公允價值變動計recognised in profit or loss for the period except for those 入當期損益。
involving the hedge accounting.Classification and valuation of financial liabilities 金融負債分類和計量
Except for financial guarantee contracts signed the Group 除了簽發的財務擔保合同以外，本集團的金classifies its financial liabilities at initial recognition: financial 融負債於初始確認時分類為：以公允價值計
liabilities at fair value through profit or loss and financial 量且其變動計入當期損益的金融負債、以攤
liabilities at amortised cost. For financial liabilities at fair value 餘成本計量的金融負債。對於以公允價值計through profit or loss the relevant transaction costs are directly 量且其變動計入當期損益的金融負債，相關recognised in profit or loss; for financial liabilities at amortised 交易費用直接計入當期損益，以攤餘成本計cost the relevant transaction costs are recognised in their 量的金融負債的相關交易費用計入其初始確
initial recognition amount. 認金額。
The subsequent measurement of financial l iabil it ies is 金融負債的後續計量取決於其分類：
dependent on its classification:
Financial liabilities at fair value through profit or loss 以公允價值計量且其變動計入當期損益的金融負債
Financial liabilities at fair value through profit or loss include 以公允價值計量且其變動計入當期損益的金financial liabilities held for trading (comprising derivatives 融負債，包括交易性金融負債（含屬於金融負classified as financial liabilities) and financial liabilities 債的衍生工具）和初始確認時指定為以公允價
designated at initial recognition to be measured at fair value 值計量且其變動計入當期損益的金融負債。
through profit or loss. Financial liabilities held for trading 交易性金融負債（含屬於金融負債的衍生工(comprising derivatives classified as financial liabilities) are 具），按照公允價值進行後續計量，除與套subsequently measured at fair value and except for those 期會計有關外，所有公允價值變動均計入當involving the hedge accounting all changes in fair value are 期損益。對於指定為以公允價值計量且其變included in profit or loss. The Group subsequently measures 動計入當期損益的金融負債，按照公允價值financial liabilities that are designated at fair value through 進行後續計量，除由本集團自身信用風險變profit or loss at fair value. Except that changes in fair value 動引起的公允價值變動計入其他綜合收益之
arising from changes to the Group’s own credit risks are 外，其他公允價值變動計入當期損益；如果recorded in other comprehensive income other changes in 由本集團自身信用風險變動引起的公允價值
fair value are recorded in profit or loss. Unless inclusion of 變動計入其他綜合收益會造成或擴大損益中changes in fair value arising from changes to the Group’s 的會計錯配，本集團將所有公允價值變動（包own credit risks in other comprehensive income will cause or 括自身信用風險變動的影響金額）計入當期損
expand accounting mismatch in the gains or losses the Group 益。
records all changes in fair value (including affected amount of
changes to the own credit risks) in the profit or loss.Annual Report 2023二零二三年年報149
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
10. Financial instruments (continued) 10. 金融工具（續）
Classification and valuation of financial liabilities (continued) 金融負債分類和計量（續）
Financial liabilities at amortised cost 以攤餘成本計量的金融負債
Subsequent to initial recognition these financial liabilities are 對於此類金融負債，採用實際利率法，按照carried at amortised cost using the effective interest method. 攤餘成本進行後續計量。
Impairment of financial instruments 金融工具減值
The Group performs impairment assessment on financial 本集團以預期信用損失為基礎，對以攤餘成assets at amortised cost debt instrument investments at fair 本計量的金融資產及以公允價值計量且其變
value through other comprehensive income contract assets 動計入其他綜合收益的債務工具投資、合同
and financial guarantee contracts based on expected credit 資產及財務擔保合同進行減值處理並確認損
losses and recognises provision for impairment losses. 失準備。
For receivables and contract assets that do not contain 對於不含重大融資成分的應收款項以及合同
significant financing components the Group adopts a 資產，本集團運用簡化計量方法，按照相當simplified measurement method to measure provision for 於整個存續期內的預期信用損失金額計量損
impairment losses based on an amount equivalent to expected 失準備。
credit losses for the entire period.For receivables and contract assets that contain significant 對於包含重大融資成分的應收款項以及合同
f inancing components the Group chooses to adopt a 資產，本集團選擇運用簡化計量方法，按照simplified measurement method to measure provision for 相當於整個存續期內的預期信用損失金額計
impairment losses based on an amount equivalent to expected 量損失準備。
credit losses for the entire period.For financial assets and financial guarantee contracts other 除上述採用簡化計量方法以外的金融資產及
than those measured with simplified valuation methods the 財務擔保合同，本集團在每個資產負債表日Group evaluates at each balance sheet date whether its credit 評估其信用風險自初始確認後是否已經顯著
risk has significantly increased since initial recognition. The 增加，如果信用風險自初始確認後未顯著增period during which credit risk has not significantly increased 加，處於第一階段，本集團按照相當於未來since initial recognition is considered the first stage at which 12個月內預期信用損失的金額計量損失準
the Group shall measure impairment loss provision based on 備，並按照賬面餘額和實際利率計算利息收the amount of expected credit loss for the next 12 months and 入；如果信用風險自初始確認後已顯著增加
shall compute interest income according to the book balance 但尚未發生信用減值的，處於第二階段，本and effective interest rate; the period during which credit risk 集團按照相當於整個存續期內預期信用損失
has significantly increased since initial recognition although 的金額計量損失準備，並按照賬面餘額和實no credit impairment has occurred is considered the second 際利率計算利息收入；如果初始確認後發生
stage at which the Group shall measure impairment loss 信用減值的，處於第三階段，本集團按照相provision based on the amount of expected credit loss for the 當於整個存續期內預期信用損失的金額計量
entire period and shall compute interest income according to 損失準備，並按照攤餘成本和實際利率計算the book balance and effective interest rate; the period during 利息收入。對於資產負債表日只具有較低信which credit impairment has occurred after initial recognition is 用風險的金融工具，本集團假設其信用風險considered the third stage at which the Group shall measure 自初始確認後未顯著增加。
impairment loss provision based on the amount of expected
credit loss for the entire period and shall compute interest
income according to the amortised cost and effective interest
rate. For financial instruments with relatively low credit risk at
the balance sheet date the Group assumes its credit risk has
not significantly increase since initial recognition.150 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
10. Financial instruments (continued) 10. 金融工具（續）
Impairment of financial instruments (continued) 金融工具減值（續）
The expected credit losses of financial instruments are 本集團基於單項和組合評估金融工具的預期
assessed on an individual or portfolio basis. Considering 信用損失。本集團考慮了不同客戶的信用風the credit risk characteristics of different customers the 險特徵，以共同風險特徵為依據，以賬齡組Group assesses the expected credit losses of financial 合為基礎評估金融工具的預期信用損失，本instruments with shared risk characteristics based on their 集團根據確認收入的日期確定賬齡。除前述ageing portfolio. The aging profile is determined based on 組合評估預期信用損失的金融工具外，本集the revenue recognition date. Other than the said expected 團單項評估其預期信用損失。本集團對於*credit losses of financial instruments which are assessed on 已發生信用減值的金融資產基於單項為基礎
a portfolio basis other expected credit losses are assessed 評估預期信用損失；* 與對手方修改或重新
on an individual basis. The Group* assessed the expected 議定合同，未導致金融資產終止確認，但導credit losses of the credit-impaired financial assets on the 致合同現金流量發生變化的金融資產基於單
individual basis;* assessed the expected credit losses of the 項為基礎評估預期信用損失。
financial assets on the individual basis in case a modification
or re-negotiation of a contract between the Group and a
counterparty may result in a change to the contractual cash
flows without resulting in the derecognition of the financial
assets.For the Group’s criteria for judging whether credit risks have 關於本集團對信用風險顯著增加判斷標準、
significantly increased the definition of assets subjected to 已發生信用減值資產的定義等披露參見附註
credit impairment please refer to Note X.3. 十、3。
The Group’s measurement of expected credit loss of financial 本集團計量金融工具預期信用損失的方法反
instruments reflects factors including unbiased probability 映的因素包括：通過評價一系列可能的結果
weighted average amount recognized by assessing a series 而確定的無偏概率加權平均金額、貨幣時間
of possible results time value of money reasonable and 價值，以及在資產負債表日無須付出不必要supportable information related to historical events current 的額外成本或努力即可獲得的有關過去事
condition and forecast of future economic position that is 項、當前狀況以及未來經濟狀況預測的合理
available without undue cost or effort at the balance sheet 且有依據的信息。
date.When the Group no longer reasonably expects to be able 當本集團不再合理預期能夠全部或部分收回
to fully or partially recover the contract cash flow of financial 金融資產合同現金流量時，本集團直接減記assets the Group directly writes down the book balance of 該金融資產的賬面餘額。
such financial assets.Annual Report 2023二零二三年年報151
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
10. Financial instruments (continued) 10. 金融工具（續）
Offsetting of financial instruments 金融工具抵銷
If the following conditions are met financial assets and 同時滿足下列條件的，金融資產和金融負債financial liabilities are presented in the balance sheet with 以相互抵銷後的淨額在資產負債表內列示：
the net amount after offsetting each other: there is a currently 具有抵銷已確認金額的法定權利，且該種法enforceable legal right to offset the recognised amount; and 定權利是當前可執行的；計劃以淨額結算，there is an intention to settle on a net basis or simultaneous 或同時變現該金融資產和清償該金融負債。
realisation of the financial assets and settlement of the financial
liabilities.Financial guarantee contracts 財務擔保合同
A financial guarantee contract is a contract under which the 財務擔保合同，是指特定債務人到期不能按issuer shall indemnify the contract holder suffering losses with 照債務工具條款償付債務時，發行方向蒙受a specified amount in the event that the debtor fails to repay 損失的合同持有人賠付特定金額的合同。財its debt in accordance with the terms of the debt instrument. 務擔保合同在初始確認時按照公允價值計
Financial guarantee contracts are measured at fair value at 量，除指定為以公允價值計量且其變動計入initial recognition other than financial guarantee contracts 當期損益的金融負債的財務擔保合同外，其designated as financial liabilities at fair value through profit or 餘財務擔保合同在初始確認後按照資產負債
loss after initial recognition other financial guarantee contracts 表日確定的預期信用損失準備金額和初始確
shall be subsequently measured at the higher of the amount 認金額扣除按照收入確認原則確定的累計攤
of provision for expected credit loss determined as at the 銷額後的餘額兩者孰高者進行後續計量。
balance sheet date and the amount at initial recognition less
the cumulative amortised amount determined in accordance
with revenue recognition principles.Derivative financial instruments 衍生金融工具
The Group uses derivative financial instruments. Such 本集團使用衍生金融工具。衍生金融工具初derivative financial instruments are initially measured at fair 始以衍生交易合同簽訂當日的公允價值進行
value on the date on which a derivative contract is entered into 計量，並以其公允價值進行後續計量。公允and are subsequently re-measured at fair value. Derivatives 價值為正數的衍生金融工具確認為一項資
are recognised as assets when the fair value is positive and as 產，公允價值為負數的確認為一項負債。
liabilities when the fair value is negative.Except for those involving the hedge accounting profit or loss 除與套期會計有關外，衍生工具公允價值變arising from changes in the fair value of derivative instruments 動產生的利得或損失直接計入當期損益。
shall be directly recognised in profit or loss.152 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
10. Financial instruments (continued) 10. 金融工具（續）
Transfer of financial assets 金融資產轉移
If the Group has transferred substantially all the risks and 本集團已將金融資產所有權上幾乎所有的風
rewards associated with the ownership of a financial asset to 險和報酬轉移給轉入方的，終止確認該金融the transferee the asset should be derecognised. If the Group 資產；保留了金融資產所有權上幾乎所有的
retains substantially all the risks and rewards of ownership of a 風險和報酬的，不終止確認該金融資產。
financial asset the asset should not be derecognised.When the Group has neither transferred nor retained 本集團既沒有轉移也沒有保留金融資產所有
substantially all the risks and rewards of ownership of the 權上幾乎所有的風險和報酬的，分別下列情financial asset it may either derecognise the financial asset 況處理：放棄了對該金融資產控制的，終止and recognise any associated assets and liabilities if control 確認該金融資產並確認產生的資產和負債；
of the financial asset has not been retained; or recognises the 未放棄對該金融資產控制的，按照其繼續涉financial asset to the extent of its continuing involvement in 入所轉移金融資產的程度確認有關金融資
the transferred financial asset and recognises an associated 產，並相應確認有關負債。
liability if control has been retained.Assets formed by the continuing involvement by way of the 通過對所轉移金融資產提供財務擔保方式繼
provision of financial guarantee in respect of the transferred 續涉入的，按照金融資產的賬面價值和財務financial assets shall be recognised as the lower of the 擔保金額兩者之中的較低者，確認繼續涉入carrying value of the financial asset and the amount of 形成的資產。財務擔保金額，是指所收到的financial guarantee. The amount of financial guarantee means 對價中，將被要求償還的最高金額。
the maximum amount among considerations received to be
required for repayment.
11. Inventories 11. 存貨
Inventories include raw materials work-in-progress finished 存貨包括原材料、在產品、庫存商品、週轉
goods and turnover materials etc. 材料等。
Inventories are initially measured at costs. Inventories’ costs 存貨按照成本進行初始計量。存貨成本包括include purchasing costs processing costs and other costs. 採購成本、加工成本和其他成本。發出存Actual costs of goods delivered are recognised using the 貨，採用加權平均法確定其實際成本。週轉weighted average method. Turnover materials mainly include 材料主要包括包裝物，領用時採用一次轉銷packing materials which are charged to the costs and 法計入成本費用。
expenses when fetched using the one-off write-off method.Inventories are valued using the perpetual inventories stock- 存貨盤存制度採用永續盤存制。
take system.At the balance sheet date inventories are measured at the 於資產負債表日，存貨按照成本與可變現淨lower of cost or net realisable value. If the cost is higher than 值孰低計量，對成本高於可變現淨值的，計the new realizable value provision for impairment of inventories 提存貨跌價準備，計入當期損益。
is made and recognized in profit or loss.Annual Report 2023二零二三年年報153
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
11. Inventories (continued) 11. 存貨（續）
Net realisable values represent estimated selling prices in 可變現淨值，是指在日常活動中，存貨的估the ordinary course of business less any estimated costs 計售價減去至完工時估計將要發生的成本、
to be incurred to completion estimated selling expenses 估計的銷售費用以及相關稅費後的金額。計and relevant tax amounts. The provision for impairment of 提存貨跌價準備時，汽車及汽車相關業務中inventories in the segment of automobiles and related products 的庫存商品按單個存貨項目計提，以估計售is recognised on the item-by-item basis and the net realisable 價為基礎確定可變現淨值。汽車及汽車相關value is determined on the basis of estimated selling price. 業務中的其他存貨以及手機業務存貨以歷史
The net realisable value of other inventories in the segment of 損失情況與業務風險為基礎，考慮不同類型automobiles and related products and of the inventories of the 存貨呆滯過時風險及未來市場需求、產品迭
segment of mobile handset is determined based on historical 代及項目變更風險，結合庫齡情況估計可變losses and business risks taking into account the risk of 現淨值經驗數據來確定相關存貨的可變現淨
slow-moving inventory and obsolete inventory future market 值。
demands and the risk of product iteration and project change
as well as aging profile and the experience in estimating net
realisable value.
12. Long-term equity investments 12. 長期股權投資
Long-term equity investments include equity investments in 長期股權投資包括對子公司以及合營企業和
subsidiaries joint ventures and associates. 聯營企業的權益性投資。
Long-term equity investments were initially measured at 長期股權投資在取得時以初始投資成本進行
initial investment cost on acquisition. For a long-term equity 初始計量。通過同一控制下企業合併取得的investment acquired by the business combination involving 長期股權投資，以合併日取得被合併方所有entities under common control the initial investment cost is 者權益在最終控制方合併財務報表中的賬面
recognised as the share of the investee’s equity in the carrying 價值的份額作為初始投資成本；初始投資成
amount presented in the consolidated financial statements 本與合併對價賬面價值之間差額，調整資本of the ultimate controller. The difference between the initial 公積（不足衝減的，衝減留存收益）。通過非investment cost and the carrying amount of consolidated 同一控制下企業合併取得的長期股權投資，consideration is charged to the capital reserve (or recognised 以合併成本作為初始投資成本（通過多次交易as write-down in the retained profit if the capital reserve is not 分步實現非同一控制下企業合併的，以購買available). For long-term equity investments acquired through 日之前所持被購買方的股權投資的賬面價值
the business combination of entities not under common control 與購買日新增投資成本之和作為初始投資成the initial investment cost shall be the cost of combination (for 本）。除企業合併形成的長期股權投資以外方business combinations of entities not under common control 式取得的長期股權投資，按照下列方法確定achieved in stages through multiple transactions the initial 初始投資成本：支付現金取得的，以實際支investment cost shall be the sum of the carrying amount of 付的購買價款及與取得長期股權投資直接相
the equity investment in the acquired party held prior to the 關的費用、稅金及其他必要支出作為初始投
date of acquisition and new investment cost incurred as at 資成本；發行權益性證券取得的，以發行權the date of acquisition). The initial investment cost of long- 益性證券的公允價值作為初始投資成本。
term equity investments other than those acquired through
business combination shall be recognised in accordance with
the following: for those acquired by way of cash payments the
initial investment cost shall be the consideration actually paid
plus expenses tax amounts and other necessary outgoings
directly related to the acquisition of the long-term equity
investments. For long-term equity investments acquired by way
of the issue of equity securities the initial investment cost shall
be the fair value of the equity securities issued.154 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
12. Long-term equity investments (continued) 12. 長期股權投資（續）
In the financial statements of the Company the cost method is 本公司能夠對被投資單位實施控制的長期股
used for long-term equity investments in investees over which 權投資，在本公司個別財務報表中採用成本the Company exercises control. Control is defined as the 法核算。控制，是指擁有對被投資方的權power exercisable over the investee the entitlement to variable 力，通過參與被投資方的相關活動而享有可return through involvement in the activities of the investee and 變回報，並且有能力運用對被投資方的權力the ability to influence the amount of return using the power 影響回報金額。
over the investee.When the cost method is used long-term equity investments 採用成本法時，長期股權投資按初始投資成are measured at initial cost on acquisition. When additional 本計價。追加或收回投資的，調整長期股權investments are made or investments are recouped the 投資的成本。被投資單位宣告分派的現金股cost of long-term equity investments shall be adjusted. Cash 利或利潤，確認為當期投資收益。
dividend or profit distribution declared by the investee shall be
recognised as investment gains for the period.The equity method is used to account for long-term equity 本集團對被投資單位具有共同控制及重大影
investments when the Group can jointly control and has 響的，長期股權投資採用權益法核算。共同significant influence over the invested entity. Joint control is 控制，是指按照相關約定對某項安排所共有the contractually agreed sharing of control of an arrangement 的控制，並且該安排的相關活動必須經過分which exists only when decisions about the relevant activities 享控制權的參與方一致同意後才能決策。重require the unanimous consent of the parties sharing control. 大影響，是指對一個被投資單位的財務和經Significant influence means having the authority to take part in 營政策有參與決策的權力，但並不能夠控制the decision over the financial and operational policies but not 或者與其他方一起共同控制這些政策的制
the authority to control or jointly control with other parties the 定。
formulation of such policies.Annual Report 2023二零二三年年報155
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
12. Long-term equity investments (continued) 12. 長期股權投資（續）
Under the equity method any excess of the initial investment 採用權益法時，長期股權投資的初始投資成cost of a long-term equity investment over the Company’s 本大於投資時應享有被投資單位可辨認淨資
share of the fair value of the investment’s identifiable net 產公允價值份額的，歸入長期股權投資的初assets is included in the initial investment cost of the long- 始投資成本；長期股權投資的初始投資成本
term equity investment. When the initial investment cost of a 小於投資時應享有被投資單位可辨認淨資產
long-term equity investment is less than the Company’s share 公允價值份額的，其差額計入當期損益，同of the fair value of the investment’s identifiable net assets the 時調整長期股權投資的成本。
difference is recognised in profit or loss for the current period
and debited to long-term equity investment.Under the equi ty method af ter the long-term equi ty 採用權益法時，取得長期股權投資後，按照investments are acquired investment gains or losses and 應享有或應分擔的被投資單位實現的淨損益
other comprehensive income are recognised according to the 和其他綜合收益的份額，分別確認投資損益entitled share of net profit or loss and other comprehensive 和其他綜合收益並調整長期股權投資的賬面
income of the investee and the carrying amount of the 價值。在確認應享有被投資單位淨損益的份long- term equity investment is adjusted accordingly. When 額時，以取得投資時被投資單位可辨認資產recognising the Group’s share of the net profit or loss of the 等的公允價值為基礎，按照本集團的會計政invested entity the Group makes adjustments based on fair 策及會計期間，並抵銷聯營企業及合營企業values of the investees’ identifiable assets and liabilities at the 之間發生的內部交易損益按照應享有的比例acquisition date in accordance with the Group’s accounting 計算歸屬於投資方的部分（但內部交易損失屬policy and accounting period to investee’s net profits 於資產減值損失的，應全額確認），對被投eliminating pro-rata profit or loss from internal transactions 資單位的淨利潤進行調整後確認，但投資或between associates and joint ventures attributed to investor 出售的資產構成業務的除外。按照被投資單(except that loss from inter-group transactions deemed as 位宣告分派的利潤或現金股利計算應享有的
asset impairment loss shall be fully recognised) provided 部分，相應減少長期股權投資的賬面價值。
that invested or sold assets constituting businesses shall 本集團確認被投資單位發生的淨虧損，以長be excluded. When the invested enterprise declares profit 期股權投資的賬面價值以及其他實質上構成
appropriations or cash dividends the carrying amount of long- 對被投資單位淨投資的長期權益減記至零為
term equity investment is adjusted down by the Group’s share 限，本集團負有承擔額外損失義務的除外。
of the profit appropriations and dividends. The Group shall 對於被投資單位除淨損益、其他綜合收益和
discontinue recognising its share of the losses of the investee 利潤分配以外所有者權益的其他變動，調整after the long-term equity investment together with any long- 長期股權投資的賬面價值並計入股東權益。
term interests that in substance forms part of the Group’s
net investment in the investee are reduced to zero except to
the extent that the Group has incurred obligations to assume
additional losses. The Group also adjusts the carrying amount
of long-term equity investments for other changes in owner’s
equity of the investees (other than the net-off of net profits or
losses other comprehensive income and profit allocation of
the investee) and includes the corresponding adjustment in
equity.156 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
13. Investment properties 13. 投資性房地產
Investment properties are properties held to earn rentals and/ 投資性房地產，是指為賺取租金或資本增or for capital appreciation. 值，或兩者兼有而持有的房地產。
Investment propert ies are ini t ial ly measured at cost. 投資性房地產按照成本進行初始計量。與投Subsequent expenses relating to the investment properties 資性房地產有關的後續支出，如果與該資產are charged to investment property costs if there is a probable 有關的經濟利益很可能流入且其成本能夠可
inflow of economic benefits relating to the asset and its cost 靠地計量，則計入投資性房地產成本。否can be reliably measured. Otherwise those expenditures are 則，於發生時計入當期損益。
recognised in profit or loss as incurred.The Group uses the cost model for subsequent measurement 本集團採用成本模式對投資性房地產進行後
of investment properties. 續計量。
For an investment property that is subsequently measured 採用成本模式進行後續計量的投資性房地產
using the cost model refer to Note V.14 for the test for 減值測試方法及減值準備計提方法，詳見附impairment and recognition of provision for impairment. 註五、14。
Buildings in investment properties are depreciated using 投資性房地產中的房屋及建築物折舊採用年
the straight-line method with estimated useful life of 30–50 限平均法計提，估計使用年限為30–50年。
years. The useful lives estimated net residual values and 本集團至少於每年年度終了，對投資性房地depreciation methods of investment properties are reviewed 產的使用壽命、預計淨殘值和折舊方法進行
and adjusted as appropriate at least at each year-end. 覆核，必要時進行調整。
14. Fixed Assets 14. 固定資產
A fixed asset is recognised when and only when it is 固定資產僅在與其有關的經濟利益很可能流
probable that future economic benefits that are associated 入本集團，且其成本能夠可靠地計量時才予with the fixed asset will flow to the Group and the cost can 以確認。與固定資產有關的後續支出，符合be measured reliably. Subsequent expenditures related to a 該確認條件的，計入固定資產成本，並終止fixed asset are recognised in the carrying amount of the fixed 確認被替換部分的賬面價值；否則，在發生asset if the above recognition criteria are met and the carrying 時計入當期損益。
value of the replaced part is derecognised; otherwise those
expenditures are recognised in profit or loss as incurred.Fixed assets are initially recognised at cost. Cost of purchased 固定資產按照成本進行初始計量。購置固定fixed assets includes purchasing price relevant taxes and 資產的成本包括購買價款，相關稅費，以及any directly attributable expenditure for bringing the asset to 為使固定資產達到預定可使用狀態前所發生
working conditions for its intended use. 的可直接歸屬於該資產的其他支出。Annual Report 2023二零二三年年報157
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
14. Fixed Assets (continued) 14. 固定資產（續）
Except freehold lands account no depreciation and except 除永久業權土地不計提折舊以及除機器設備
moulds in machinery equipment are depreciated on a unit of 中的模具按工作量法折舊外，其餘均採用年production method others are all depreciated on a straight- 限平均法計提。按照年限平均法折舊的固定line basis. The estimated useful lives estimated residual value 資產的估計使用年限、預計淨殘值率及年折
ratio and annual depreciation rates of the fixed assets that are 舊率如下：
depreciated on a straight-line basis are as follows:
Estimated
residual Annual
Estimated useful life value ratio depreciation rate估計使用年限預計淨殘值率年折舊率
Buildings 5–70 years 0%-5% 1.4%-20.0%
房屋及建築物5–70年Machinery equipment 3–12 years 0%-5% 7.9%-33.3%
機器設備3–12年Motor vehicles 3–5 years 0%-5% 19.0%-33.3%
運輸工具3–5年Office and other equipment 10 years and below 0%-5% 9.5% and above
辦公及其他設備10年及10年以下9.5%及9.5%以上
The Group reviews at least at each year end useful lives 本集團至少於每年年度終了，對固定資產的estimated residual values and depreciation methods of fixed 使用壽命、預計淨殘值和折舊方法進行覆
assets and makes adjustments if necessary. 核，必要時進行調整。
15. Construction in progress 15. 在建工程
Construction in progress is measured at the actual construction 在建工程成本按實際工程支出確定，包括在expenditures including necessary project work expenses 建期間發生的各項必要工程支出、工程達到
incurred during the period while construction is in progress 預定可使用狀態前的應予資本化的借款費用
borrowing costs subject to capitalisation before they can be 以及其他相關費用等。
put into use and other related fees.158 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
15. Construction in progress (continued) 15. 在建工程（續）
Construction in progress is transferred into fixed assets when it 在建工程在達到預定可使用狀態時轉入固定
is ready for its intended use. The criteria are as follows: 資產。標準如下：
Criteria of transfer to fixed assets結轉固定資產的標準
Buildings The earlier of completion acceptance or
actual commencement of the usage
房屋及建築物完工驗收╱實際開始使用孰早
Machinery equipment The earlier of installation and acceptance or
actual commencement of the usage
機器設備完成安裝並驗收╱實際開始使用孰早
Office and other equipment The earlier of installation and acceptance or
actual commencement of the usage
辦公及其他設備完成安裝並驗收╱實際開始使用孰早
16. Borrowing costs 16. 借款費用
Borrowing costs directly attributable to the acquisition 可直接歸屬於符合資本化條件的資產的購建
construction or production of a qualifying asset are capitalised. 或者生產的借款費用，予以資本化，其他借Other borrowing costs incurred are recorded in the profit 款費用計入當期損益。當資本支出和借款費or loss for the period. The capitalisation of borrowing costs 用已經發生，且為使資產達到預定可使用或commences when expenditure for the asset is being incurred 可銷售狀態所必要的購建或生產活動已經開
borrowing costs are being incurred and activities of acquisition 始時，借款費用開始資本化。
construction or production that are necessary to prepare the
asset for its intended use are in progress.The capitalisation of such borrowing costs ceases when the 購建或者生產符合資本化條件的資產達到預
qualifying asset being acquired constructed or produced 定可使用或者可銷售狀態時，借款費用停止becomes ready for its intended use or sale. Borrowing costs 資本化。之後發生的借款費用計入當期損incurred afterwards are recognised in profit or loss. 益。Annual Report 2023二零二三年年報159
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
16. Borrowing costs (continued) 16. 借款費用（續）
During capitalisation interest of each accounting period 在資本化期間內，每一會計期間的利息資本is recognised using the following methods: for specific 化金額，按照下列方法確定：專門借款以當borrowings the borrowing costs eligible for capitalisation are 期實際發生的利息費用，減去暫時性的存款the actual interest costs incurred during the current period 利息收入或投資收益後的金額確定；佔用的
deducted by any temporary interest or investment income; 一般借款，根據累計資產支出超過專門借款for general borrowings the borrowing costs eligible for 部分的資產支出加權平均數乘以所佔用一般
capitalisation are determined by applying a capitalisation rate 借款的加權平均利率計算確定。
to the excess amounts of cumulative expenditures on the asset
over the weighted average of cumulative expenditures on the
asset of specific borrowings multiplying the weight average
rate of general borrowings.Except for expected suspension under normal situation of 符合資本化條件的資產在購建或者生產過程
qualifying assets capitalisation should be suspended during 中，發生除達到預定可使用或者可銷售狀態periods in which abnormal interruption has lasted for more than 必要的程序之外的非正常中斷、且中斷時
three months during the process of acquisition construction 間連續超過3個月的，暫停借款費用的資本or production. The borrowing cost incurred during interruption 化。在中斷期間發生的借款費用確認為費should be recognised as expenses and recorded in profit or 用，計入當期損益，直至資產的購建或者生loss until the acquisition construction or production activities 產活動重新開始。
of assets resume.
17. Intangible assets 17. 無形資產
Intangible assets formed by new energy vehicle R&D 除新能源汽車研發支出所形成的無形資產按
expenditures are amortised by the output method and other 照生產總量法計算攤銷之外，其餘無形資產intangible assets are amortised over the useful life on the 在使用壽命內採用直線法攤銷，其使用壽命straight-line basis the useful life is as follows: 如下：
Category Estimated useful life Basis of determination類別使用壽命確定依據
Land use rights 30–99 years Term of land use rights
土地使用權30–99年土地使用權期限
Industrial property rights and 2–10 years The shorter of patent term and estimated useful life
proprietary technologies
工業產權及專有技術2–10年專利權期限與預計使用期限孰短
Non-patented technologies and 1–5 years The shorter of useful lives and estimated useful
software lives of non-patented technologies and software
非專利技術及軟件1–5年非專利技術及軟件使用年限與預計使用年限孰短
Customer relationships 5 years Expected beneficial lives of customer relationships
客戶關係 5年 預計客戶關係受益年限160 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
17. Intangible assets (continued) 17. 無形資產（續）
The Group classifies the expenses for in-house research and 本集團將內部研究開發項目的支出，區分為development as research costs and development costs. All 研究階段支出和開發階段支出。研究階段的research costs are charged to the profit or loss as incurred. 支出，於發生時計入當期損益。開發階段的Development costs are capitalised only when all the following 支出，只有在同時滿足下列條件時，才能予conditions are met: the Group can demonstrate the technical 以資本化，即：完成該無形資產以使其能夠feasibility of completing the intangible asset so that it will be 使用或出售在技術上具有可行性；具有完成
available for use or sale; its intention to complete and its ability 該無形資產並使用或出售的意圖；無形資產
to use or sell the asset; how the asset will generate economic 產生經濟利益的方式，包括能夠證明運用該benefits (including demonstration that the product derived 無形資產生產的產品存在市場或無形資產自
from the intangible asset or the intangible asset itself will be 身存在市場，無形資產將在內部使用的，能marketable or in the case of internal use the usefulness of 夠證明其有用性；有足夠的技術、財務資
the intangible asset as such); the availability of technical and 源和其他資源支持，以完成該無形資產的開financial resources to complete the project and procure the 發，並有能力使用或出售該無形資產；歸屬use or sale of the intangible asset; and the ability to measure 於該無形資產開發階段的支出能夠可靠地計
reliably the expenditure during the development. Development 量。不滿足上述條件的開發支出，於發生時costs which do not meet these criteria are recorded in profit or 計入當期損益。
loss when incurred.Where the conditions stated above are satisfied the works 本集團相應項目在滿足上述條件，在研究階of the research stage have been completed and it is certain 段的工作已完成，預計該項目開發形成的無that the intangible assets arising from the development of the 形資產滿足市場需求已明確、技術方案已確
project cater to market demands and the technical solutions 定、能夠給企業帶來經濟利益等條件時，經are developed to generate economic benefits the Group may 本集團評審通過後進入開發階段，開發階段advance the corresponding project to the development stage 發生的支出在滿足上述資本化條件後開始資
after assessment capitalise the expenses of the development 本化。在項目結題驗收達到預計可使用狀態stage when the capitalisation conditions are satisfied and 時結轉無形資產。
transfer the capitalised expenses to intangible assets when the
project passes the completion acceptance to become ready
for the intended use.
18. Impairment 18. 資產減值
The Group assesses impairment of assets other than 對除存貨、合同資產及與合同成本有關的資
inventories contract assets and assets related to contract 產、遞延所得稅、金融資產外的資產減值，costs deferred tax assets and financial assets using the 按以下方法確定：
methods described below:
The Group assesses at each balance sheet date whether there 於資產負債表日判斷資產是否存在可能發生
is an indication that an asset may be impaired. If any such 減值的跡象，存在減值跡象的，本集團將估indication exists the Group makes an estimate of the asset’s 計其可收回金額，進行減值測試；對因企業recoverable amount and performs a test of impairment for the 合併所形成的商譽、使用壽命不確定的無形
asset. For goodwill generated from business combination 資產和尚未達到可使用狀態的無形資產，無intangible assets with indefinite useful lives and intangible 論是否存在減值跡象，至少於每年末進行減assets not yet available for use tests for impairment are 值測試。
performed at least annually regardless of whether there are
indications of impairment.Annual Report 2023二零二三年年報161
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
18. Impairment (continued) 18. 資產減值（續）
Recoverable amount is the higher of the asset’s fair value 可收回金額根據資產的公允價值減去處置費
less costs to sell and the present value of its estimated future 用後的淨額與資產預計未來現金流量的現值
cash flows. The Group estimates the recoverable amount of 兩者之間較高者確定。本集團以單項資產為individual assets on item-by-item basis. When it is difficult 基礎估計其可收回金額；難以對單項資產的
to estimate individually the recoverable amount of the cash 可收回金額進行估計的，以該資產所屬的資generating unit which the assets belong to will be estimated. 產組為基礎確定資產組的可收回金額。資產The definition of a cash generating unit (CGU) is determined 組的認定，以資產組產生的主要現金流入是on the basis of whether the primary cash inflows generated 否獨立於其他資產或者資產組的現金流入為
by that group are independent of those from other assets or 依據。
CGUs.When the carrying amount of an asset or a CGU exceeds 當資產或資產組的可收回金額低於其賬面價
its recoverable amount the carrying amount is written down 值時，本集團將其賬面價值減記至可收回金to the recoverable amount and the amount of write-down 額，減記的金額計入當期損益，同時計提相is recognised in profit or loss with provision for impairment 應的資產減值準備。
provided accordingly.In connection with impairment tests for goodwill the carrying 就商譽的減值測試而言，對於商譽的賬面價amount of goodwill is allocated to relevant CGUs or CGU 值，自購買日起按照合理的方法分攤至相關group from the date of acquisition on a reasonable basis. 的資產組或者資產組組合。相關的資產組或A relevant CGU or CGU group is defined as one which can 資產組組合，是能夠從企業合併的協同效應benefit from the synergies of the business combination and 中受益的資產組或者資產組組合，且不大於is not larger than the operating segments determined by the 本集團確定的經營分部。
Group.The carrying amount and recoverable amount of CGU or CGU 比較包含商譽的資產組或者資產組組合的賬
group that comprise goodwill should be compared. Where 面價值與可收回金額，如可收回金額低於賬the recoverable amount is lower than the carrying amount 面價值的，減值損失金額首先抵減分攤至資the impairment loss should first be offset against the carrying 產組或資產組組合中商譽的賬面價值，再根amount of the goodwill allocated to CGUs or CGU groups 據資產組或資產組組合中除商譽之外的其他
and then against the carrying amount of other assets in the 各項資產的賬面價值所佔比重，按比例抵減CGUs or CGU groups other than goodwill in proportion to the 其他各項資產的賬面價值。
weighting of these assets.Previously recognised impairment losses are not reversed in 上述資產減值損失一經確認，在以後會計期subsequent periods. 間不再轉回。162 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
19. Long-term deferred expenditures 19. 長期待攤費用
Long-term deferred expenditures are expenses which the 長期待攤費用是指本公司已經支出、期限在
Company has paid and carries a term of more than one year. 1年以上的各項費用。長期待攤費用按直線Long-term deferred expenditures are amortised on straight-line 法攤銷。
basis.Category Amortisation Period類別攤銷期
Improvement costs of right-of-use assets Lease term or expected useful life whichever is shorter使用權資產的改良支出租賃期與預計可使用壽命孰短
20. Employee remuneration 20. 職工薪酬
Employee remuneration includes all kinds of rewards or 職工薪酬，指本集團為獲得職工提供的服務compensation other than share-based payments incurred by 或解除勞動關係而給予的，除股份支付以外the Group in exchange for service rendered by employees 的各種形式的報酬或補償。職工薪酬包括短or in the termination of employment. Employee remuneration 期薪酬、離職後福利、辭退福利和其他長期
includes short-term remuneration post-employment benefits 職工福利。
termination benefits and other long-term employees’ benefits.Short-term remuneration 短期薪酬
For accounting periods during which services are rendered by 在職工提供服務的會計期間，將實際發生的employees short-term remuneration incurred is recognised as 短期薪酬確認為負債，並計入當期損益或相liability and included in profit or loss or related asset costs. 關資產成本。
Post-employment benefits (defined contribution scheme) 離職後福利（設定提存計劃）
The Group’s employees are participants of the pension 本集團的職工參加由當地政府管理的養老保
and unemployment insurance schemes managed by local 險和失業保險，相應支出在發生時計入相關governments and the relevant expenses are recorded in 資產成本或當期損益。
related asset costs or profit or loss when incurred.Annual Report 2023二零二三年年報163
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
20. Employee remuneration (continued) 20. 職工薪酬（續）
Termination benefits 辭退福利
Where termination benefits are provided to employees liabilities 本集團向職工提供辭退福利的，在下列兩者in employee remuneration are recognised in profit or loss 孰早日確認辭退福利產生的職工薪酬負債，when: the company is not in a position to withdraw termination 並計入當期損益：企業不能單方面撤回因解
benefits provided under termination plans or redundancy 除勞動關係計劃或裁減建議所提供的辭退福
plans or costs or expenses relating to the restructuring 利時；企業確認與涉及支付辭退福利的重組
exercise which involves the payment of termination benefits 相關的成本或費用時。
are recognised whichever is earlier.
21. Provisions 21. 預計負債
Other than contingent consideration and assumed contingent 除了非同一控制下企業合併中的或有對價及
liabilities in a business combination involving parties not under 承擔的或有負債之外，與或有事項相關的義common control the Group recognises as provision when an 務是本集團承擔的現時義務且該義務的履行
obligation is a present obligation assumed by the Group and it 很可能會導致經濟利益流出本集團，同時有is probable that an outflow of economic benefits will result from 關金額能夠可靠地計量的，本集團將其確認the performance of the obligation and the obligation can be 為預計負債。
reliably measured.Provisions are initially valued according to the best estimate 預計負債按照履行相關現時義務所需支出的
of expenses for performance of present obligations taking 最佳估計數進行初始計量，並綜合考慮與或account of the risk uncertainty and time value of the currency 有事項有關的風險、不確定性和貨幣時間價
that are associated with contingent matters. The carrying 值等因素。於資產負債表日對預計負債的賬amount of the provisions would be reassessed and adjusted to 面價值進行覆核並進行適當調整以反映當前
reflect the best estimate on balance sheet date. 最佳估計數。
A contingent liability of the acquiree gained in a business 非同一控制下企業合併中取得的被購買方或
combination not involving entities under common control is 有負債在初始確認時按照公允價值計量，在initially measured at its fair value. Subsequently it is measured 初始確認後，按照預計負債確認的金額，和at the higher of the amount that would be recognised on the 初始確認金額扣除收入確認原則確定的累計
basis of estimated liabilities or the balance of cumulative 攤銷額後的餘額，以兩者之中的較高者進行amortization amount determined in the principle of the amount 後續計量。
initially recognised less revenue.164 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
22. Share-based payments 22. 股份支付
Share-based payments can be distinguished into equity- 股份支付，分為以權益結算的股份支付和以settled share-based payments and cash-settled share- 現金結算的股份支付。以權益結算的股份支based payments. Equity-settled share-based payments 付，是指本集團為獲取服務以股份或其他權are transactions of the Group settled through the payment 益工具作為對價進行結算的交易。
of shares or other equity instruments in consideration for
receiving services.Equity-settled share-based payments made in exchange for 以權益結算的股份支付換取職工提供服務
services rendered by employees are measured at the fair value 的，以授予職工權益工具的公允價值計量。
of equity instruments granted to employees. Instruments which 授予後立即可行權的，在授予日按照公允價are vested immediately upon the grant are charged to relevant 值計入相關成本或費用，相應增加資本公costs or expenses at the fair value on the date of grant and the 積；完成等待期內的服務或達到規定業績條
capital reserve is credited accordingly. Instruments of which 件才可行權的，在等待期內每個資產負債表vesting is conditional upon completion of services or fulfillment 日，以對可行權權益工具數量的最佳估計為of performance conditions are measured by recognising 基礎，按照授予日的公允價值，將當期取得services rendered during the period in relevant costs or 的服務計入相關成本或費用，相應增加資本expenses and crediting the capital reserve accordingly at 公積。權益工具的公允價值採用二項式模型each balance sheet date during the vesting period based on 確定，參見附註十一。
the best estimate of the quantity of equity instruments that are
exercisable and the fair value at the grant date. The fair value
of equity instruments is determined by the binomial pricing
model with details set out in Note XI.Where the terms of an equity-settled share-based payment are 如果修改了以權益結算的股份支付的條款，modified as a minimum services obtained are recognised as if 至少按照未修改條款的情況確認取得的服
the terms had not been modified. In addition any modification 務。此外，增加所授予權益工具公允價值的that increases the fair value of the equity instrument granted 修改，或在修改日對職工有利的變更，均確or is beneficial to the employee as measured at the date of 認取得服務的增加。
modification is recognised as increment of services obtained.Where an equity-settled award is cancelled it is treated as if it 如果取消了以權益結算的股份支付，則於取had been vested on the date of cancellation and any expense 消日作為加速行權處理，立即確認尚未確認not yet recognised for the award is recognised immediately. 的金額。職工或其他方能夠選擇滿足非可行Where employees or other parties are permitted to choose 權條件但在等待期內未滿足的，作為取消以to fulfill non-vesting conditions but have not fulfilled such 權益結算的股份支付處理。但是，如果授予conditions during the vesting period equity-settled share- 新的權益工具，並在新權益工具授予日認定based payments are deemed cancelled. However if a new 所授予的新權益工具是用於替代被取消的權
award is substituted for the cancelled award and designated 益工具的，則以與處理原權益工具條款和條as a replacement award on the date when it is granted the 件修改相同的方式，對所授予的替代權益工new award is treated as if it was a modification of the original 具進行處理。
award.Annual Report 2023二零二三年年報165
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
23. Revenue from contracts with customers 23. 與客戶之間的合同產生的收入
The Group recognises its revenue upon the fulfilment of 本集團在履行了合同中的履約義務，即在客performance obligations under a contract namely when 戶取得相關商品或服務控制權時確認收入。
the customer obtains control over the relevant products or 取得相關商品或服務的控制權，是指能夠主services. The acquisition of control over relevant products or 導該商品的使用或該服務的提供並從中獲得
services shall mean the ability to direct the use of the products 幾乎全部的經濟利益。
or the provision of the services and receive substantially all
economic benefits derived therefrom.Contract for the sales of products 銷售商品合同
The product sales contract between the Group and its 本集團與客戶之間的銷售商品合同通常僅包
customers typically includes contractual performance 含轉讓商品的履約義務。本集團在綜合考慮obligations for the transfer of products. The Group recognises 了下列因素的基礎上，在交付且客戶接受商its revenue at the time of delivery and customers’ acceptance 品的時點確認收入：取得商品的現時收款權
of the products taking into account the following factors: the 利、商品所有權上的主要風險和報酬的轉
acquisition of the current right to receive payments for the 移、商品的法定所有權的轉移、商品實物資
products the transfer of major risks and rewards pertaining 產的轉移、客戶接受該商品。
to the ownership of the products the transfer of the legal
title of the products the transfer of the physical assets of the
products and customers’ acceptance of the products.The transaction price refers to the amount of consideration 本集團將因向客戶轉讓商品而預期有權收取
that the Group is entitled to receive as a result of its transfer 的對價金額作為交易價格，並根據合同條of goods to customers and is determined in accordance with 款，結合以往的商業慣例予以確定。本集團the terms of contract taking into account historical business 按照期望值或最有可能發生金額對折扣做出
practices. The Group determines the best estimates of 最佳估計，以估計折扣後的交易價格不超過discounts based on the expected value or the most probable 在相關不確定性消除時累計已確認收入極可
amount and recognises the transaction prices provided 能不會發生重大轉回的金額為限計入交易價
that the transaction prices after estimated discount shall not 格，並在每一個資產負債表日進行重新估exceed the cumulative amount of recognised revenue upon 計。
the removal of relevant uncertainties in connection with which
a significant reversal is highly unlikely and is re-estimated at
each balance sheet date.166 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
23. Revenue from contracts with customers (continued) 23. 與客戶之間的合同產生的收入（續）
Contract for the sales of products (continued) 銷售商品合同（續）
Where a contract contains a significant financing component 對於合同中存在重大融資成分的，本集團按the Group determines the transaction price based on 照假定客戶在取得商品控制權時即以現金支
amounts payable assumed to be settled in cash by customers 付的應付金額確定交易價格，使用將合同對immediately upon the acquisition of control over the products. 價的名義金額折現為商品現銷價格的折現
The difference between such transaction price and contract 率，將確定的交易價格與合同承諾的對價金consideration is amortised over the contract period using the 額之間的差額在合同期間內採用實際利率法
effective interest rate method based on a ratio that discounts 攤銷。對於預計客戶取得商品控制權與客戶the nominal contractual consideration to the current selling 支付價款間隔未超過一年的，本集團未考慮price of the products. The Group shall not give consideration 合同中存在的重大融資成分。
to any significant financing component in a contract if the
gap between the customer’s acquisition of control over the
products and payment of consideration is expected to be less
than one year.Customers who sell products under some of the Group’s 本集團的部分銷售商品合同中銷售商品的客
contracts for the sales of products are also the suppliers of key 戶同時也是該商品製造中關鍵材料的供應
materials used in the manufacturing of the products. The Group 商。本集團判斷其是主要責任人還是代理人needs to determine whether they are principals or agents in 時，需要對在向客戶轉讓商品前是否擁有對these transactions by ascertaining whether they have control 上述關鍵材料的控制權進行分析。如果本集over the above key materials before they transfer products to 團獲取上述關鍵材料的控制權，那麼本集團customers. If the Group acquires control of the aforesaid key 為主要責任人，並按照已收或應收對價總額materials the Group is the principal and recognises revenue 確認收入。否則，本集團為代理人，按照預by total considerations received or receivable. Otherwise the 期有權收取的佣金或手續費的金額確認收
Group is an agent and recognises revenue by the amounts of 入。
commissions or service charges expected to receive.The Group provides quality assurance for products sold in 根據合同約定、法律規定等，本集團為所銷accordance with contract terms and laws and regulations. 售的商品提供質量保證，屬於為向客戶保證The accounting treatment of quality assurance in the form 所銷售的商品符合既定標準的保證類質量保
of warranty assuring customers that products sold are in 證，本集團按照附註三、21進行會計處理。
compliance with required standards is set out in Note III.21. 本集團為客戶提供了超過法定質保期限或範
The Group provides warranty to customers beyond the 圍的質量保證，屬於對所銷售的商品符合既statutory period or scope which is a standalone service in 定標準之外提供了一項單獨服務，本集團將addition to the assurance of compliance of products with 其作為一項單項履約義務。本集團按照提供required standards such warranty is treated as a standalone 商品和服務類質量保證的單獨售價的相對比
contractual performance obligation The Group allocates a 例，將部分交易價格分攤至服務類質量保portion of the transaction price to the service warranty based 證，並在客戶取得服務控制權時確認收入。
on a percentage of the standalone price for the provision of
product and service warranty with the revenue recognised
when the customer acquires control of the service.Annual Report 2023二零二三年年報167
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
23. Revenue from contracts with customers (continued) 23. 與客戶之間的合同產生的收入（續）
Contract for the rendering of services 提供服務合同
For the performance obligations under the contracts for 本集團與客戶之間的提供服務合同通常包含
rendering of services between the Group and its customers 維修服務、運輸服務、技術服務、平台服務
which usually include maintenance services transportation 等履約義務，如果本集團履約的同時客戶即services technological services platform services etc. the 取得並消耗本集團履約所帶來的經濟利益，Group considers them as performance obligations to be 本集團將其作為在某一時段內履行的履約義
fulfilled over a period of time and recognises the revenue 務，按照履約進度確認收入，履約進度不能according to the progress of performance (except when the 合理確定的除外。本集團按照投入法確定提performance progress cannot be reasonably determined) 供服務的履約進度。對於履約進度不能合理if customers are able to obtain and consume the economic 確定時，本集團已經發生的成本預計能夠得benefits brought by the Group’s contractual performance when 到補償的，按照已經發生的成本金額確認收the Group performs the contracts. The Group determines the 入，直到履約進度能夠合理確定為止。對於performance progress for the services provided in accordance 不能滿足在某一時段內履行履約義務的服務
with the input method. When the performance progress cannot 合同，本集團在服務完成時點確認收入。
be reasonably determined the revenue will be recognised
based on the amount of costs incurred if such costs incurred
by the Group are expected to be compensated until the
performance progress can be reasonably determined. For
service contracts whose performance obligations cannot be
fulfilled over a period of time the Group recognises revenue at
the time when services are provided.Construction contract 建造合同
The Group fulfils the performance obligations by providing 本集團通過向客戶提供建造服務履行履約義
construction services to customers. As the services the 務，由於本集團履約過程中所提供的服務具Group provides during the performance of contracts are 有不可替代用途，且本集團在整個合同期間irreplaceable and the Group has the right to receive payments 內有權就累計至今已完成的履約部分收入款
for the performance part that has been completed so far in the 項，本集團將其作為在某一時段內履行的履whole contract period the Group considers these obligations 約義務，按照履約進度確認收入，履約進度as performance obligations to be fulfilled over a period of 不能合理確定的除外。本集團按照產出法，time and recognises the revenue according to the progress 根據實際測量的完工進度確定建造服務的履
of performance (except when the performance progress 約進度。對於履約進度不能合理確定時，本cannot be reasonably determined). The Group determines 集團已經發生的成本預計能夠得到補償的，the performance progress for the construction services in 按照已經發生的成本金額確認收入，直到履accordance with the output method and on the basis of 約進度能夠合理確定為止。
completion stage measured practically. When the performance
progress cannot be reasonably determined the revenue will
be recognised based on the amount of costs incurred if such
costs incurred by the Group are expected to be compensated
until the performance progress can be reasonably determined.168 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
24. Contract assets and contract liabilities 24. 合同資產與合同負債
The Group presents contract assets or contract liabilities 本集團根據履行履約義務與客戶付款之間的
on the balance sheet according to the relationship between 關係在資產負債表中列示合同資產或合同負
contractual performance obligations and customer payments. 債。本集團將同一合同下的合同資產和合同Contract assets and contract liabilities under the same contract 負債相互抵銷後以淨額列示。
are presented on a net basis after set-off.Contract assets 合同資產
Contract assets represent the rights to receive considerations 合同資產是指已向客戶轉讓商品或服務而有
for the transfer of products or services to customers which are 權收取對價的權利，且該權利取決於時間流dependent on factors other than the passage of time. 逝之外的其他因素。
For details of the Group’s determination and accounting 本集團對合同資產的預期信用損失的確定方
treatment of expected credit losses from contract assets 法及會計處理方法詳見附註三、10。
please refer to Note III. 10.Contract liabilities 合同負債
Contract liabilities represent the obligations to transfer 合同負債是指已收或應收客戶對價而應向客
products or services to customers for the considerations 戶轉讓商品或服務的義務，如企業在轉讓承received or receivable from customers for instance amounts 諾的商品或服務之前已收取的款項。
received prior to the transfer of agreed products or services.
25. Assets relating to contract costs 25. 與合同成本有關的資產
The Group’s assets relating to contract costs include contract 本集團與合同成本有關的資產包括合同取得
acquisition costs and contract performance costs presented 成本和合同履約成本。根據其流動性，分別respectively under inventories other current assets and other 列報在存貨、其他流動資產和其他非流動資
non-current assets according to their liquidity. 產中。
Where the Group expects the incremental costs for acquiring a 本集團為取得合同發生的增量成本預期能夠
contract to be recoverable such contract acquisition costs are 收回的，作為合同取得成本確認為一項資recognised as an asset (unless the amortisation period of the 產，除非該資產攤銷期限不超過一年。
asset is not more than one year).Annual Report 2023二零二三年年報169
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
25. Assets relating to contract costs (continued) 25. 與合同成本有關的資產（續）
Costs incurred by the Group for the performance of a contract 本集團為履行合同發生的成本，不適用存are recognised as an asset as contract performance costs if 貨、固定資產或無形資產等相關準則的規範
they do not fall under the scope of the relevant standards for 範圍的，且同時滿足下列條件的，作為合同inventories fixed assets or intangible assets but meet all the 履約成本確認為一項資產：
following conditions:
1) they are directly related to a current or anticipated 1) 該成本與一份當前或預期取得的合同
contract including direct labour direct materials 直接相關，包括直接人工、直接材manufacturing expenses (or similar expenses) to 料、製造費用（或類似費用）、明確由
be borne by customers as specifically stipulated 客戶承擔的成本以及僅因該合同而發
and otherwise incurred solely in connection with the 生的其他成本；
contract;
2) they increase the resources to be utilised in the 2) 該成本增加了企業未來用於履行履約
Company’s future performance of its contractual 義務的資源；
obligations;
3) they are expected to be recoverable. 3) 該成本預期能夠收回。
The Group amortises assets relating to contract costs on the 本集團對與合同成本有關的資產採用與該資
same basis as that for the recognition of revenue relating to 產相關的收入確認相同的基礎進行攤銷，計such assets and recognises the amortised assets in profit or 入當期損益。
loss.For assets relating to contract costs whose carrying amount 與合同成本有關的資產，其賬面價值高於下is higher than the difference between the following two items 列兩項差額的，本集團將超出部分計提減值the Group makes provision for impairment for the excess to be 準備，並確認為資產減值損失：
recognised as asset impairment losses:
(1) the remaining consideration expected to be obtained (1) 企業因轉讓與該資產相關的商品或服
as a result of the transfer of goods or services relating 務預期能夠取得的剩餘對價；
to such assets;
(2) estimated costs to be incurred in connection with the (2) 為轉讓該相關商品或服務估計將要發
transfer of relevant goods or services. 生的成本。170 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
26. Government grants 26. 政府補助
Government grants are recognised when there is reasonable 政府補助在能夠滿足其所附的條件並且能夠
assurance that the grant will be received and all attaching 收到時，予以確認。政府補助為貨幣性資產conditions will be complied with. The grant is measured as 的，按照收到或應收的金額計量。政府補助the amount received or receivable where it takes the form 為非貨幣性資產的，按照公允價值計量；公of a cash asset or at fair value where it is not a cash asset. 允價值不能可靠取得的，按照名義金額計Where the fair value cannot be reliably obtained it should be 量。
measured at the nominal value.Government grants are accounted for using the gross method. 政府補助採用總額法核算。
In accordance with the stipulations of the government 政府文件規定用於購建或以其他方式形成長
instruments government grants applied towards acquisition or 期資產的，作為與資產相關的政府補助；政the formation of long-term assets in other manners are asset- 府文件不明確的，以取得該補助必須具備的related government grants; grants with unspecific reference 基本條件為基礎進行判斷，以購建或其他方in government instruments and requiring the exercise of 式形成長期資產為基本條件的作為與資產相
judgement based on the basic conditions for receiving such 關的政府補助，除此之外的作為與收益相關grants are treated as asset-related government grants that take 的政府補助。
acquisition of long-term assets or formation in other manners
as essential condition; otherwise grants are recognised as
income-related government grants.Income-related government grants if applied to make up 與收益相關的政府補助，用於補償以後期間for related costs or losses in future periods are recognised 的相關成本費用或損失的，確認為遞延收as deferred income and recorded in profit or loss in the 益，並在確認相關成本費用或損失的期間計period when relevant costs or losses are recognised; if 入當期損益；用於補償已發生的相關成本費
applied to make up for related costs or losses that have been 用或損失的，直接計入當期損益。與資產相incurred recognised directly in profit or loss. Asset-related 關的政府補助，確認為遞延收益，在相關資government grants are recognised as deferred income and 產使用壽命內按照合理、系統的方法分期計
included in profit or loss over the useful life of relevant assets 入損益。但按照名義金額計量的政府補助，by reasonable and systematic instalments. Government 直接計入當期損益。相關資產在使用壽命結grants measured at nominal value are directly recognised in 束前被出售、轉讓、報廢或發生毀損的，尚profit or loss. Where the assets concerned are disposed of 未分配的相關遞延收益餘額轉入資產處置當
transferred retired or damaged prior to the end of the useful 期的損益。
life the balance of the deferred income yet to be allocated is
transferred to the profit or loss for the period when the assets
are disposed of.For loans provided to the Group at policy-based favorable 財政將貼息資金撥付給貸款銀行，由貸款銀interest rates by banks which are supported by the financial 行以政策性優惠利率向本集團提供貸款的，authorities with discount interest rate funds the fair value of 以借款的公允價值作為借款的入賬價值並按
borrowings is recognised as the carrying amount and the 照實際利率法計算借款費用，實際收到的金borrowing costs are calculated by the effective rate method 額與借款公允價值之間的差額確認為遞延收
with the difference between the amount actually received and 益，在借款存續期內採用實際利率法攤銷，the fair value of borrowing recognised as deferred income 衝減相關借款費用。財政將貼息資金直接撥and the effective rate method adopted for amortisation during 付給本集團的，將對應的貼息衝減相關借款the loan term to write off borrowing costs. If discount interest 費用。
rate funds are directly offered to the Group the Group shall
adopt the corresponding discount interest to write off relevant
borrowing costs.Annual Report 2023二零二三年年報171
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
27. Deferred tax 27. 遞延所得稅
The Group recognises deferred taxes by balance sheet liability 本集團根據資產與負債於資產負債表日的賬
method and according to the temporary difference between 面價值與計稅基礎之間的暫時性差異，以及the carrying amount of assets and liabilities as at the balance 未作為資產和負債確認但按照稅法規定可以
sheet date and the tax base and the temporary difference 確定其計稅基礎的項目的賬面價值與計稅基
between the carrying amount of items that have not been 礎之間的差額產生的暫時性差異，採用資產recognised as assets and liabilities but of which the tax base 負債表債務法計提遞延所得稅。
can be determined and the tax base.Deferred tax liabilities are recognised for all taxable temporary 各種應納稅暫時性差異均據以確認遞延所得
differences except: 稅負債，除非：
1) where the taxable temporary difference arises from the 1) 應納稅暫時性差異是在以下交易中產
initial recognition of goodwill or the initial recognition of 生的：商譽的初始確認，或者具有以an asset or liability in a transaction that is not a business 下特徵的單項交易中產生的資產或負
combination and at the time of the transaction affects 債的初始確認：該交易不是企業合
neither the accounting profit nor taxable profit or 併、交易發生時既不影響會計利潤也
loss and the assets and liabilities initially recognised 不影響應納稅所得額或可抵扣虧損、
do not result in equal amounts of taxable temporary 且初始確認的資產和負債未導致產生
differences and deductible temporary differences; 等額應納稅暫時性差異和可抵扣暫時性差異；
2) in respect of the taxable temporary differences 2) 對於與子公司及合營企業及聯營企業
associated with investments in subsidiaries joint 投資相關的應納稅暫時性差異，該暫ventures and associates where the timing of the 時性差異轉回的時間能夠控制並且該
reversal of the temporary differences can be controlled 暫時性差異在可預見的未來很可能不
and it is probable that the temporary differences will not 會轉回。
be reversed in the foreseeable future.Deferred tax assets are recognised for all deductible 對於可抵扣暫時性差異、能夠結轉以後年度
temporary differences carryforward of unused tax credits and 的可抵扣虧損和稅款抵減，本集團以很可能unused tax losses to the extent that it is probable that taxable 取得用來抵扣可抵扣暫時性差異、可抵扣虧
profit will be available against which the deductible temporary 損和稅款抵減的未來應納稅所得額為限，確differences and the carryforward of unused tax credits and 認由此產生的遞延所得稅資產，除非：
unused tax losses can be utilised except:
1) where the deductible temporary difference arises 1) 可抵扣暫時性差異是在以下單項交易
from transaction that is not a business combination 中產生的：該交易不是企業合併、交
and at the time of the transaction affects neither the 易發生時既不影響會計利潤也不影響
accounting profit nor taxable profit or loss and the 應納稅所得額或可抵扣虧損、且初始
assets and liabilities initially recognised do not result 確認的資產和負債未導致產生等額
in equal amounts of taxable temporary differences and 應納稅暫時性差異和可抵扣暫時性差
deductible temporary differences; 異；
2) where deductible temporary differences associated 2) 對於與子公司及合營企業投資及聯營
with investments in subsidiaries it is probable that 企業相關的可抵扣暫時性差異，暫時the temporary differences will be reversed in the 性差異在可預見的未來很可能轉回且
foreseeable future and it is probable that taxable 未來很可能獲得用來抵扣該暫時性差
profit will be available against which the deductible 異的應納稅所得額。
temporary differences can be utilised.172 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
27. Deferred tax (continued) 27. 遞延所得稅（續）
As at the balance sheet date deferred tax assets and liabilities 本集團於資產負債表日，對於遞延所得稅資are measured in accordance with relevant tax laws at the tax 產和遞延所得稅負債，依據稅法規定，按照rates that are expected to apply to the period when the assets 預期收回該資產或清償該負債期間的適用稅
are realised or the liabilities are settled and the Group reports 率計量，並反映資產負債表日預期收回資產the tax consequences that would follow the manner in which 或清償負債方式的所得稅影響。
the Group expects at the balance sheet date to recover the
assets or settle the liabilities.The carrying amount of deferred tax assets are reviewed at 於資產負債表日，本集團對遞延所得稅資產the balance sheet date and reduced to the extent that it is no 的賬面價值進行覆核，如果未來期間很可能longer probable that sufficient taxable profit will be available 無法獲得足夠的應納稅所得額用以抵扣遞延
to allow all or part of the deferred tax asset to be utilised. 所得稅資產的利益，減記遞延所得稅資產的Unrecognised deferred tax assets are reassessed at the 賬面價值。於資產負債表日，本集團重新評balance sheet date and are recognised to the extent that it has 估未確認的遞延所得稅資產，在很可能獲得become probable that sufficient taxable profit will be available 足夠的應納稅所得額可供所有或部分遞延所
to allow all or part of the deferred tax asset to be recovered. 得稅資產轉回的限度內，確認遞延所得稅資產。
Deferred tax assets and deferred tax liabilities are offset and 如果擁有以淨額結算遞延所得稅資產及遞延
presented as a net amount if the Group has the legal right to 所得稅負債的法定權利，且遞延所得稅與同set off deferred tax assets and deferred tax liabilities and the 一應納稅主體和同一稅收徵管部門相關，但deferred taxes relate to the same taxable entity and the same 在未來每一具有重要性的遞延所得稅資產和
taxation authority but the taxable entity concerned intends 遞延所得稅負債轉回的期間內，涉及的納稅to settle current tax assets and liabilities on a net basis or to 主體意圖以淨額結算當期所得稅資產及當期
realise the assets and settle the liabilities simultaneously in 所得稅負債或是同時取得資產、清償債務，each future period in which significant amounts of deferred tax 則將遞延所得稅資產和遞延所得稅負債以抵
liabilities or assets are expected to be settled or recovered. 銷後的淨額列示。
28. Leases 28. 租賃
At the inception of a contract the Group assesses whether the 在合同開始日，本集團評估合同是否為租賃contract is or contains a lease. If one party to the contract 或者包含租賃，如果合同中一方讓渡了在一conveys a right to control the use of one or more identified 定期間內控制一項或多項已識別資產使用的
assets for a period of time in exchange for consideration such 權利以換取對價，則該合同為租賃或者包含contract is or contains a lease. 租賃。
As a lessee 作為承租人
The Group recognized right-of-use assets and lease liabilities 除了短期租賃和低價值資產租賃，本集團對for leases except for short-term leases and leases of low-value 租賃確認使用權資產和租賃負債。
assets.If a contract contains lease components and non-lease 合同中同時包含租賃和非租賃部分的，本集components at the same time the Group will allocate the 團按照各部分單獨價格的相對比例分攤合同
consideration in the contract to each component on the basis 對價。
of their respective relative stand-alone price.Annual Report 2023二零二三年年報173
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
28. Leases (continued) 28. 租賃（續）
As a lessee (continued) 作為承租人（續）
Right-of-use assets 使用權資產
At the inception of a lease term the rights to use lease assets 在租賃期開始日，本集團將其可在租賃期內during the lease term is recognised as right-of-use assets 使用租賃資產的權利確認為使用權資產，按initially measured at cost. The costs of right-of-use assets 照成本進行初始計量。使用權資產成本包include: the initially measured amount of lease liabilities; 括：租賃負債的初始計量金額；在租賃期開
the lease payment incurred at or prior to the lease inception 始日或之前支付的租賃付款額扣除已享受的
date less the lease incentive amount received; initial direct 租賃激勵相關金額；承租人發生的初始直接
expenses incurred by the lessee; estimated cost to be incurred 費用；承租人為拆卸及移除租賃資產、復原
by the lessee for demolishing and removing lease assets 租賃資產所在場地或將租賃資產恢復至租賃
restoring the premises at which the lease assets are located or 條款約定狀態預計將發生的成本。本集團因restoring the lease assets to the agreed state under the lease 租賃付款額變動重新計量租賃負債的，相應terms. If the Group remeasures lease liabilities due to changes 調整使用權資產的賬面價值。本集團後續採in lease payments the carrying amount of the right-of-use 用年限平均法對使用權資產計提折舊。能夠asset is adjusted accordingly. In subsequent measurement 合理確定租賃期屆滿時取得租賃資產所有權
the Group provides depreciation of the right-of-use assets 的，本集團在租賃資產剩餘使用壽命內計提using the averaging method over the lease term. Where it can 折舊。無法合理確定租賃期屆滿時能夠取得be reasonably ascertained that the ownership over the lease 租賃資產所有權的，本集團在租賃期與租賃assets can be obtained upon the conclusion of the lease term 資產剩餘使用壽命兩者孰短的期間內計提折
depreciation is provided over the remaining useful life of the 舊。
lease assets. Where the acquisition of the ownership over the
lease assets upon the conclusion of the lease term cannot
be reasonably ascertained depreciation is provided over the
lease term or the remaining useful life of the lease assets
whichever is shorter.Lease liabilities 租賃負債
At the inception of a lease term outstanding lease payments 在租賃期開始日，本集團將尚未支付的租賃are recognised as lease liabilities at their present value 付款額的現值確認為租賃負債，短期租賃和with the exception of short-term leases and low-value asset 低價值資產租賃除外。租賃付款額包括固定leases. The lease payments comprises fixed payments and in- 付款額及實質固定付款額扣除租賃激勵後的
substance fixed payments less any lease incentives variable 金額、取決於指數或比率的可變租賃付款
lease payment that depends on an index or a rate amounts 額、根據擔保餘值預計應支付的款項，還包expected to be paid under residual value guarantees and 括購買選擇權的行權價格或行使終止租賃選
it also comprises exercise price of a purchase option or 擇權需支付的款項，前提是本集團合理確定payments required to be made under an option to terminate 將行使該選擇權或租賃期反映出本集團將行
the lease provided that the Group is reasonably certain to 使終止租賃選擇權。
exercise that option or the lease term reflects the Group is
going to exercise an option to terminate the lease.174 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
28. Leases (continued) 28. 租賃（續）
As a lessee (continued) 作為承租人（續）
Lease liabilities (continued) 租賃負債（續）
In calculating the present value of lease payments the Group 在計算租賃付款額的現值時，本集團採用租adopts the implied interest rate as the discount rate or the 賃內含利率作為折現率；無法確定租賃內含
incremental loan interest rate for the lessee as the discount 利率的，採用承租人增量借款利率作為折現rate where the implied interest rate cannot be ascertained. 率。本集團按照固定的週期性利率計算租賃Interest expenses on lease liabilities over the respective 負債在租賃期內各期間的利息費用，並計入periods of the lease term are based on fixed cyclical interest 當期損益，但另有規定計入相關資產成本的rates and charged to profit or loss except the presentation 除外。未納入租賃負債計量的可變租賃付款in related asset costs required by other standards. Variable 額於實際發生時計入當期損益，但另有規定lease payments not included in lease liabilities are charged to 計入相關資產成本的除外。
profit or loss as and when incurred except the presentation in
related asset costs required by other standards.After the commencement date of the lease term the Group 租賃期開始日後，本集團確認利息時增加租increased the carrying amount of lease liabilities when it 賃負債的賬面金額，支付租賃付款額時減少recognizes the interests and decreases the carrying amount 租賃負債的賬面金額。當實質固定付款額發of the lease liabilities when it makes lease payments. Where 生變動、擔保餘值預計的應付金額發生變
there are changes in the substantial fixed payment amount 化、用於確定租賃付款額的指數或比率發生
changes in amounts payable expected of the remaining value 變動、購買選擇權、續租選擇權或終止選擇
of guarantees changes in the index or ratio used to determine 權的評估結果或實際行權情況發生變化時，lease payment amounts and changes in the assessment 本集團按照變動後的租賃付款額的現值重新
outcome relating to or actual exercise of the call option 計量租賃負債。
renewal option and termination option the Group re-measures
the lease liabilities based on present value of the modified
lease payment.Short-term lease and low-value asset lease 短期租賃和低價值資產租賃
A lease with a term of not more than 12 months at the inception 本集團將在租賃期開始日，租賃期不超過12of the lease term and without any call option is recognised as 個月，且不包含購買選擇權的租賃認定為短a short-term lease; lease comprising an individual lease asset 期租賃；將單項租賃資產為全新資產時價值
in brand new conditions and with low value is recognised as 較低的租賃認定為低價值資產租賃。本集團a low-value asset lease. If the Group sub-leases or expects 轉租或預期轉租租賃資產的，原租賃不認定to sub-lease such leased assets the original lease shall not 為低價值資產租賃。本集團對短期租賃和低be recognised as a low-value asset lease. For short-term 價值資產租賃選擇不確認使用權資產和租賃
leases and low-value asset leases the Group elects not to 負債，在租賃期內各個期間按照直線法計入recognise right-of-use assets and lease liabilities which are 相關的資產成本或當期損益。
instead charged to relevant asset costs or profit or loss over
the respective periods during the lease term on a straight-line
basis.Annual Report 2023二零二三年年報175
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
28. Leases (continued) 28. 租賃（續）
As a lessor 作為出租人
Other than leases that transfer substantially all risks and 租賃開始日實質上轉移了與租賃資產所有權
rewards relating to the ownership of leased assets at inception 有關的幾乎全部風險和報酬的租賃為融資租
which are recognised as finance leases all leases are 賃，除此之外的均為經營租賃。
recognised as operating leases.As the lessor under a finance lease 作為融資租賃出租人
At the commencement date of the lease term the Group 在租賃期開始日，本集團對融資租賃確認應recognises finance lease receivables and derecognises 收融資租賃款，並終止確認融資租賃資產。
financial leased assets. The Group initially measures finance 本集團對應收融資租賃款進行初始計量時，lease receivables in the amount of net investment in the 以租賃投資淨額作為應收融資租賃款的入賬
lease. Net investment in the lease is the sum of unguaranteed 價值。租賃投資淨額為未擔保餘值和租賃期residual value and the present value of lease payments not 開始日尚未收到的租賃收款額按照租賃內含
received at the commencement date being discounted at 利率折現的現值之和，包括初始直接費用。
the interest rate contained in the lease including initial direct 本集團按照固定的週期性利率計算並確認租
costs. The Group calculates and recognises interest income 賃期內各個期間的利息收入。本集團取得的in each period during the lease term based on a constant 未納入租賃投資淨額計量的可變租賃付款額
periodic rate of interest. The variable lease payments that are 在實際發生時計入當期損益。
not included in the measurement of the net investment in the
lease are recognised in profit or loss when incurred.When the Group acts as a manufacturer or dealer lessor of a 本集團作為融資租賃的生產商或經銷商出租
financial lease at the inception of the lease term the Group 人時，在租賃期開始日，本集團按照租賃資recognises the lease income based on the lower of the fair 產公允價值與租賃收款額按市場利率折現的
value of the leased asset and the present value of the lease 現值兩者孰低確認收入，並按照租賃資產賬receipts discounted at the market interest rate and recognises 面價值扣除未擔保餘值的現值後的餘額結轉
the cost of sales based on the balance after deducting the 銷售成本。本集團為取得融資租賃發生的成present value of the unguaranteed residual value from the 本，在租賃期開始日計入當期損益。
carrying amount of the leased asset. The costs incurred by the
Group to obtain finance leases are recognised in profit and
loss at the inception of the lease term.As the lessor under an operating lease 作為經營租賃出租人
Rental income under an operating lease is recognised as 經營租賃的租金收入在租賃期內各個期間按
profit or loss over the respective periods of the lease term on a 直線法確認為當期損益，未計入租賃收款額straight-line basis and variable lease payments not included 的可變租賃付款額在實際發生時計入當期損
in lease receivables are charged to profit or loss as and when 益。初始直接費用資本化，在租賃期內按照incurred. Initial direct costs are capitalised and amortised on 與租金收入確認相同的基礎進行分攤，分期the same basis as the recognition of rental income over the 計入當期損益。
lease term and are included in the profit or loss by instalments.176 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
29. Hedge accounting 29. 套期會計
For the purpose of hedge accounting the Group classifies 就套期會計方法而言，本集團的套期分類為hedges as cash flow hedges which hedge the exposure to 現金流量套期，是指對現金流量變動風險進variability in cash flows risk that is either attributable to a 行的套期，此現金流量變動源於與已確認資particular risk associated with a recognised asset or liability or 產或負債、很可能發生的預期交易有關的某
a highly probable forecast transaction or the foreign exchange 類特定風險，或一項未確認的確定承諾包含risk in an unrecognised firm commitment. 的匯率風險。
At the incept ion of a hedge re lat ionship the Group 在套期關係開始時，本集團對套期關係有正formally designates the hedge relationship and prepares 式指定，並準備了關於套期關係、風險管理documentation of the hedging relationship and the entity’s 目標和風險管理策略的正式書面文件。該文risk management objective and strategy for undertaking 件載明了套期工具、被套期項目、被套期風
the hedge. The documentation includes identification of 險的性質，以及本集團對套期有效性評估方the hedging instrument the hedged item the nature of the 法。套期有效性，是指套期工具的公允價值risk being hedged and how the entity will assess whether 或現金流量變動能夠抵銷被套期風險引起的
the hedging relationship meets the hedge effectiveness 被套期項目公允價值或現金流量的程度。此requirements. Hedging effectiveness is the extent to which 類套期在初始指定日及以後期間被持續評價
the changes in fair value or cash flows of hedging instruments 符合套期有效性要求。
can offset the changes in fair value or cash flows of hedged
items. Such hedge items should be assessed at the inception
of the hedging relationship and on an ongoing basis whether
a hedging relationship meets the hedge effectiveness
requirements.The Group discontinues hedge accounting prospectively 如果套期工具已到期、被出售、合同終止或when the hedging instrument expires or is sold terminated or 已行使（但作為套期策略組成部分的展期或替exercised (the placement or rollover of a hedging instrument 換不作為已到期或合同終止處理），或因風險which is part of hedging strategies into another hedging 管理目標發生變化，導致套期關係不再滿足instrument is not an expiration or termination) or the hedging 風險管理目標，或者該套期不再滿足套期會relationship ceases to meet the documented risk management 計方法的其他條件時，本集團終止運用套期objective due to a change in risk management objectives or if 會計。
the hedge no longer meets other qualifying criteria for hedge
accounting.I f a hedging re lat ionship ceases to meet the hedge 套期關係由於套期比率的原因不再符合套期
effectiveness requirement relating to the hedge ratio but 有效性要求的，但指定該套期關係的風險管the risk management objective for that designated hedging 理目標沒有改變的，本集團對套期關係進行relationship remains the same the Group rebalances the 再平衡。
hedging relationship.Annual Report 2023二零二三年年報177
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
29. Hedge accounting (continued) 29. 套期會計（續）
Hedges which meet the criteria of hedge accounting are 滿足套期會計方法條件的，按如下方法進行treated in the following ways: 處理：
Cash flow hedge 現金流量套期
The effective portion of the gain or loss on the hedging 套期工具利得或損失中屬於套期有效的部
instrument is recognised in other comprehensive income 分，直接確認為其他綜合收益，屬於套期無directly while any ineffective portion is recognised immediately 效的部分，計入當期損益。
in the statement of profit or loss.When the hedged forecast t ransact ion results in the 如果被套期的預期交易隨後確認為非金融資
recognition of a non-financial asset or a non-financial liability 產或非金融負債，或非金融資產或非金融負or a firm commitment created by the forecast transaction 債的預期交易形成適用公允價值套期的確定
for a non- financial asset or a non-financial liability for which 承諾時，則原在其他綜合收益中確認的現金fair value hedge accounting is applied the gains and losses 流量套期儲備金額轉出，計入該資產或負債previously recognised in other comprehensive income and 的初始確認金額。其餘現金流量套期在被套accumulated in cash flow hedge reserve are removed and 期的預期現金流量影響損益的相同期間，如included in the initial measurement of the cost of the non- 預期銷售發生時，將其他綜合收益中確認的financial asset or non- financial liability. For any other cash 現金流量套期儲備轉出，計入當期損益。
flow hedges the amount accumulated in other comprehensive
income is reclassified to the statement of profit or loss as
a reclassification adjustment in the same period or periods
during which the hedged cash flows affect the statement of
profit or loss such as when sales are expected to occur.If the Group discontinues cash flow hedges the amount that 本集團對現金流量套期終止運用套期會計
has been accumulated in other comprehensive income must 時，如果被套期的未來現金流量預期仍然會remain in accumulated other comprehensive income if the 發生的，則以前計入其他綜合收益的金額不hedged future cash flows are still expected to occur until the 轉出，直至預期交易實際發生或確定承諾履transaction is expected to actually occur or performance of the 行；如果被套期的未來現金流量預期不再發
commitment is determined. If the hedged future cash flows are 生的，則累計現金流量套期儲備的金額應當no longer expected to occur the amount of hedge reserve will 從其他綜合收益中轉出，計入當期損益。
be immediately reclassified to the statement of profit or loss as
a reclassification adjustment.Cost of hedging reserve 套期成本
The Group separates the forward element and spot element of 本集團將遠期合同的遠期要素和即期要素分
a forward contract and designates as the hedging instrument 開，只將即期要素的價值變動指定為套期工only the change in the value of the spot element of a forward 具；本集團將遠期合同的遠期要素的公允價
contract. The change in fair value of the forward element of 值變動中與被套期項目相關的部分計入其他
a forward contract that hedges a transaction related hedged 綜合收益，如果被套期項目的性質與時間段item shall be recognised in other comprehensive income if the 相關，則將上述公允價值變動按照系統、合nature of the hedged item is associated with time-period such 理的方法在被套期項目影響損益或其他綜合
the changes of fair value are amortised on a systematic and 收益的期間內攤銷，從其他綜合收益轉出，rational basis over the period during which the hedged item 計入當期損益。
affects the profit or loss or other comprehensive income and
reclassified from other comprehensive income to profit or loss.178 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
30. Share repurchase 30. 回購股份
Considerations and transaction fees paid for repurchase 回購自身權益工具支付的對價和交易費用，of equity instruments of the Group result in decrease of 減少股東權益。除股份支付之外，發行（含再shareholders’ equity. Other than share-based payments 融資）、回購、出售或註銷自身權益工具，作issuance (including re-financing) repurchase selling or 為權益的變動處理。
cancellation of equity instruments of the Group are treated as
changes of equity.
31. Fair value measurement 31. 公允價值計量
At each balance sheet date the Group measures equity 本集團於每個資產負債表日以公允價值計量
instrument investments and derivative financial instruments 權益工具投資和衍生金融工具。公允價值，at fair value. Fair value means the price receivable from the 是指市場參與者在計量日發生的有序交易
disposal of an asset or required to be paid for the transfer 中，出售一項資產所能收到或者轉移一項負of a liability in an orderly transaction incurred by market 債所需支付的價格。
participants on the measurement date.The fair value hierarchy to which an asset or liability measured 在財務報表中以公允價值計量或披露的資產
or disclosed in the financial statements at fair value will be 和負債，根據對公允價值計量整體而言具有determined on the basis of the lowest level of input which is 重要意義的最低層次輸入值，確定所屬的公significant for the fair value measurement as a whole. Input at 允價值層次：第一層次輸入值，在計量日能the first level represents unadjusted quoted prices in an active 夠取得的相同資產或負債在活躍市場上未經
market for the acquisition of the same asset or liability on the 調整的報價；第二層次輸入值，除第一層次measurement date. Input at the second level represents input 輸入值外相關資產或負債直接或間接可觀察
that is directly or indirectly observable for related assets or 的輸入值；第三層次輸入值，相關資產或負liabilities apart from input at the first level. Input at the third 債的不可觀察輸入值。
level represents unobservable input for the asset or liability.At each balance sheet date the Group reassesses the assets 每個資產負債表日，本集團對在財務報表中and liabilities measured at fair value on an ongoing basis 確認的持續以公允價值計量的資產和負債進
recognised in the financial statements to determine whether 行重新評估，以確定是否在公允價值計量層the level of fair value measurement should be changed. 次之間發生轉換。
32. Significant accounting judgements and estimates 32. 重大會計判斷和估計
The preparat ion of the f inancial statements requires 編製財務報表要求管理層作出判斷、估計和
management to make judgements estimations and assumption 假設，這些判斷、估計和假設會影響收入、that affect the reported amounts and disclosures of revenues 費用、資產和負債的列報金額及其披露以及
expenses assets and liabilit ies and the disclosure of 資產負債表日或有負債的披露。這些假設和contingent liabilities at the balance sheet date. The uncertain 估計的不確定性所導致的結果可能造成對未
nature of these assumptions and estimations could result 來受影響的資產或負債的賬面金額進行重大
in outcomes that could require a material adjustment to the 調整。
carrying amounts of the assets or liabilities affected in the
future.Annual Report 2023二零二三年年報179
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
32. Significant accounting judgements and estimates 32. 重大會計判斷和估計（續）
(continued)
Judgements 判斷
In the process of applying the Group’s accounting policies the 在應用本集團的會計政策的過程中，管理層management has made the following judgements which have 作出了以下對財務報表所確認的金額具有重
the most significant effect on the amounts recognised in the 大影響的判斷：
financial statements:
Business model 業務模式
The classification of financial assets at initial recognition 金融資產於初始確認時的分類取決於本集團
depends on the business model the Group adopts to manage 管理金融資產的業務模式，在判斷業務模式financial assets. In judging the business model the Group 時，本集團考慮包括企業評價和向關鍵管理considers among others the methods by which it assesses 人員報告金融資產業績的方式、影響金融資
and the way by which it reports to the key managers about the 產業績的風險及其管理方式以及相關業務管
results of financial assets the risks confronted by the results of 理人員獲得報酬的方式等。在評估是否以收financial assets and relevant risks management methods and 取合同現金流量為目標時，本集團需要對金the way determining the compensation of business operators. 融資產到期日前的出售原因、時間、頻率和
When determining whether the business model maintained for 價值等進行分析判斷。
the purpose of receiving contractual cash flows the Group
needs to analyse the reasons for selling financial assets before
expiry dates the time frequency and consideration of the
selling.Contractual cash flow characteristics 合同現金流量特徵
The classification of financial assets at initial recognition 金融資產於初始確認時的分類取決於金融資
depends on the financial asset’s contractual cash flow 產的合同現金流量特徵，需要判斷合同現金characteristics and the judgements on whether the contractual 流量是否僅為對本金和以未償付本金為基礎
cash flows are solely payments of principal and interest on 的利息的支付時，包含對貨幣時間價值的修the principal amount outstanding including when assessing 正進行評估時，需要判斷與基準現金流量相the modification of the time value of money the judgement on 比是否具有顯著差異等。
whether there is any significant difference from the benchmark
cash flow etc.180 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
32. Significant accounting judgements and estimates 32. 重大會計判斷和估計（續）
(continued)
Judgements (continued) 判斷（續）
Principal versus agent 主要責任人與代理人
The Group sells products to a customer who is also the 本集團向客戶銷售商品，客戶同時也是該商supplier of key materials used in the manufacturing of 品製造中關鍵材料的供應商。本集團判斷其products. The Group needs to determine whether it is a 是主要責任人還是代理人時，需要對在向客principal or an agent in these transactions by ascertaining 戶轉讓商品前是否擁有對上述關鍵材料的控
whether it has control over the above key materials before 制權進行分析。如果本集團獲取上述關鍵材it transfers products to the customer. If it acquires control 料的控制權，那麽本集團為主要責任人，並of the aforesaid key materials the Group is the principal 按照已收或應收對價總額確認收入。否則，and recognises revenue by total considerations received or 本集團為代理人，按照預期有權收取的傭金receivable. Otherwise the Group is an agent and recognises 或手續費的金額確認收入。本集團在判斷向revenue by the amounts of commissions or service charges 客戶轉讓商品前是否擁有對該商品的控制權
expected to receive. The determination of the Group on 時不僅局限於合同的法律形式而且應綜合考
whether it has controls over goods before they are transferred 慮所有相關事實和情況。
to customers not only depends on legal contracts but also
takes into consideration of all relevant facts and conditions.Deferred tax liabilities in relation to withholding income taxes 股利分配引起的代扣代繳所得稅之遞延所得
for dividend payment 稅負債
Whether the Group’s overseas subsidiaries need to pay 本集團對於其境外子公司來源於其中國境內
withholding income taxes for the dividends paid by their 子公司分派的股利是否需要計提代扣代繳所
subsidiaries based in Mainland China is associated with the 得稅取決於股利實際支付時點。本集團若預timing of dividend payment. If the Group estimates that the 計該盈利不會在可預見的未來予以分派，且profit will not be distributed in the foreseeable future and 能控制該等子公司由股利分派產生的暫時性
the time of writing back the temporary difference arising 差異的轉回時間，則不需計提上述代扣代繳from dividend payment made by such subsidiaries can be 所得稅產生的遞延所得稅負債。詳見附註controlled then it is not necessary to recognise deferred 五、21。
tax liabilities for the aforesaid withholding income taxes. For
details please refer to Note V.21.Estimation uncertainty 估計的不確定性
The key assumptions concerning the future and other key 以下為於資產負債表日有關未來的關鍵假設
sources of estimation uncertainty at the balance sheet date 以及估計不確定性的其他關鍵來源，可能會that have a significant risk of causing a material adjustment to 導致未來會計期間資產和負債賬面價值重大
the carrying amounts of assets and liabilities within the future 調整。
accounting periods are described below.Annual Report 2023二零二三年年報181
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
32. Significant accounting judgements and estimates 32. 重大會計判斷和估計（續）
(continued)
Estimation uncertainty (continued) 估計的不確定性（續）
Impairment of financial instruments and contract assets 金融工具和合同資產減值
The Group has adopted the expected credit loss model 本集團採用預期信用損失模型對金融工具和
to evaluate the impairment of financial instruments and 合同資產的減值進行評估，應用預期信用損contract assets. The application of the expected credit loss 失模型需要做出重大判斷和估計，需考慮所model requires significant judgement and estimates and the 有合理且有依據的信息，包括前瞻性信息。
consideration of all reasonable and soundly based information 在做出這些判斷和估計時，本集團根據歷史including forward-looking information. In making such 還款數據結合經濟政策、宏觀經濟指標、行
judgement and estimates the Group estimates the changes of 業風險等因素推斷債務人信用風險的預期變
the debtor’s credit risk according to past repayment records 動。不同的估計可能會影響減值準備的計taking into account economic policies macro-economic 提，已計提的減值準備可能並不等於未來實indicators industry risks and other factors. Differences in 際的減值損失金額。
estimates may have an impact on the provision for impairment.A provision for impairment may not be equal to the actual
amount of impairment losses in the future.Impairment of non-current assets other than financial assets 除金融資產之外的非流動資產減值（除商譽(excluding goodwill) 外）
The Group assesses whether there are any indications of 本集團於資產負債表日對除金融資產之外的
impairment for non-current assets other than financial assets 非流動資產判斷是否存在可能發生減值的跡
at the balance sheet date. Impairment tests are performed 象。對使用壽命不確定和尚未達到可使用狀every year for intangible assets with indefinite useful life and 態的無形資產，除每年進行的減值測試外，those that are not ready for intended use; these assets are 當其存在減值跡象時，也進行減值測試。其also tested when indications show that they may be impaired. 他除金融資產之外的非流動資產，當存在跡Non-current assets other than financial assets are tested 象表明其賬面價值不可收回時，進行減值測for impairment when there are indications that the carrying 試。當資產或資產組的賬面價值高於可收回amounts may not be recoverable. An impairment exists 金額，即公允價值減去處置費用後的淨額和when the carrying amount of an asset or CGU exceeds its 預計未來現金流量的現值中的較高者，表明recoverable amount which is the higher of the fair value less 發生了減值。公允價值減去處置費用後的淨cost to sell and the present value of its future cash flows. The 額，參考公平交易中類似資產的銷售協議價net amount of the fair value less cost to sell is based on agreed 格或可觀察到的市場價格，減去可直接歸屬selling prices of similar assets in fair trades or observable 於該資產處置的增量成本確定。預計未來現market prices less incremental costs for disposing of the asset. 金流量現值時，管理層必須估計該項資產或When estimating the present value of future cash flows the 資產組的預計未來現金流量，並選擇恰當的management must estimate the expected future cash flows of 折現率確定未來現金流量的現值。詳見附註the asset or CGU and adopts the appropriate discount rate to 五、18。
calculate the present value of future cash flows. For details
please refer to Note V.18.182 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
32. Significant accounting judgements and estimates 32. 重大會計判斷和估計（續）
(continued)
Estimation uncertainty (continued) 估計的不確定性（續）
Goodwill impairment 商譽減值
The Company tests the goodwill for impairment at least 本集團至少每年測試商譽是否發生減值。這annually. This requires making an estimate of the current 要求對分配了商譽的資產組或者資產組組合
value of the future cash flow of the CGU or CGU group that 的未來現金流量的現值進行預計。對未來現have distributed goodwill. When making an estimate of the 金流量的現值進行預計時，本集團需要預計current value of future cash flows the Group needs to make 未來資產組或者資產組組合產生的現金流
an estimate of the future cash flows generated by the CGU 量，同時選擇恰當的折現率確定未來現金流or CGU group and simultaneously adopts the appropriate 量的現值。詳見附註五、19。
discount rate to calculate the present value of future cash
flows. For details please refer to Note V. 19.Development expenditures 開發支出
In determining the amount of capitalisation the management 確定資本化的金額時，管理層必須做出有關must make assumptions concerning the expected future 資產的預計未來現金流量，適用的折現率以cash flows of assets applicable discount rates and expected 及預計受益期間的假設。
beneficial periods.Deferred tax assets 遞延所得稅資產
Deferred tax assets are recognised for all unused tax losses 在很可能有足夠的應納稅所得額用以抵扣可
to the extent that it is likely that taxable profit will be available 抵扣虧損的限度內，應就所有尚未利用的可against which the losses can be utilised. Significant judgments 抵扣虧損確認遞延所得稅資產。這需要管理are needed from the management to estimate the timing and 層運用大量的判斷來估計未來取得應納稅所
amount of taxable profit in the future and the corresponding 得額的時間、金額以及相應的稅率，結合納tax rate with consideration of tax planning strategies to 稅籌劃策略，以決定應確認的遞延所得稅資determine the amount of the deferred tax assets that should be 產的金額。
recognised.Provisions for warranty 產品質量保證的預計負債
The Group makes reasonable estimates on warranty fee rates 本集團對具有類似特徵的合同組合，根據歷in respect of contract groups with similar characteristics based 史保修數據、當前保修情況，考慮產品改on the historic data and current conditions of warranty taking 進、市場變化等全部相關信息後，對保修費into consideration all relevant information such as product 率予以合理估計。估計的保修費率可能並不improvements and market changes among others. The 等於未來實際的保修費率，本集團至少於每estimate of the warranty fee rate may not be equal to the actual 一資產負債表日對保修費率進行重新評估，warranty fee rate in the future. The Group reassesses the 並根據重新評估後的保修費率確定預計負
warranty fee rates at least annually at least on each balance 債。
sheet date and determines its estimated liabilities based on the
reassessed warranty fee rates.Annual Report 2023二零二三年年報183
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
32. Significant accounting judgements and estimates 32. 重大會計判斷和估計（續）
(continued)
Estimation uncertainty (continued) 估計的不確定性（續）
Provision for inventory impairment based on net realisable 以可變現淨值為基礎計提存貨跌價準備
value
The Group measures inventories by cost or net realisable 本集團存貨按成本和可變現淨值孰低計量。
value whichever is lower. The determination of the net 估計存貨可變現淨值要求在取得確鑿證據，realisable value requires the acquisition of conclusive evidence 並且考慮持有存貨的目的、資產負債表日後
by the management who should also take into account factors 事項的影響等因素的基礎上作出判斷和估
such as the purpose of stocking the inventory and the impact 計。實際的結果與原先估計的差異將在估計of post- balance sheet date events before making judgments 被改變的期間影響存貨的賬面價值及存貨跌
and estimates. The difference between the actual outcome and 價準備的計提或轉回。
the original estimates shall affect the carrying amount of the
inventory and charge or reversal of impairment provision for
the period during which the estimates were revised.Depreciation and amortisation 折舊及攤銷
When assets are ready for intended use the Group provides 本集團於資產達到預定可使用狀態起按有關
depreciation of fixed assets and amortisation of intangible 的估計使用壽命及淨殘值以年限平均法或生
assets by the straight-line method or the output method based 產總量法計算固定資產的折舊及無形資產的
on the estimated useful life and the net residual value which 攤銷，反映了管理層就本集團擬從使用該固reflects the management’s estimate for the periods in which 定資產及無形資產獲得未來經濟利益的期間
the Group expects to receive economic benefits from the use 的估計。
of such fixed assets and intangible assets.Incremental loan interest rate for the lessee 承租人增量借款利率
Where the implied interest rate cannot be available the Group 對於無法確定租賃內含利率的租賃，本集團adopts the incremental loan interest rate for the lessee as 採用承租人增量借款利率作為折現率計算租
the discount rate for calculating the present value of lease 賃付款額的現值。確定增量借款利率時，本payment. In determining the incremental loan interest rate 集團根據所處經濟環境，以可觀察的利率作the Group considers the economic environment refers to the 為確定增量借款利率的參考基礎，在此基礎observable interest rate as the basis and adjusts the reference 上，根據自身情況、標的資產情況、租賃期rate to the applicable extent by considering its own conditions 和租賃負債金額等租賃業務具體情況對參考
the conditions of target assets the lease term the amount of 利率進行調整以得出適用的增量借款利率。
lease liabilities and other factors that are specific to the lease.184 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
32. Significant accounting judgements and estimates 32. 重大會計判斷和估計（續）
(continued)
Estimation uncertainty (continued) 估計的不確定性（續）
Fair value of unlisted equity investments 非上市股權投資之公允價值
The Group applies the quoted market prices to determine 本集團對於上市的權益工具投資，以市場報the fair value of l isted equity instrument investments. 價確定公允價值。對於限售股票、非上市的For investments in restricted shares and unlisted equity 權益工具投資，利用近期交易法或者採用估instruments the Group adopts the recent transaction method 值技術來確定其公允價值，估值技術包括市or applies valuation techniques to determine their fair value 場乘數法、期權定價模型等。其公允價值的while valuation techniques include market multiplier method 計量採用了重要的不可觀察參數，比如企業option pricing models etc. The measurement of fair value uses 價值╱收入（「EV/Revenue」）比率、流動性折
significant unobservable parameters including enterprise 扣等。這要求本集團確定可比上市公司、選value-to-revenue (“EV/Revenue”) ratio liquidity discount 擇市場乘數法、期權定價模型、信用風險、
etc. This requires the Group to determine comparable listed 波動和折現率等，因此具有不確定性。詳情companies selection of market multiplier method option 載於附註十一。
pricing models credit risk fluctuations discount rate etc.which are of uncertainties. For details please refer to Note XI.Assessment of fair value of identifiable net assets related 與收購業務相關的可辨認淨資產公允價值評
to business acquisition and recognition of goodwill arising 估及商譽確認
therefrom
As stated in Note III. 5 for the measurement of the fair value 如附註三、5所述，本集團對非同一控制下
of identifiable net assets as at the acquisition date which 的企業合併中取得的可辨認淨資產按購買日
are acquired in business combinations not involving entities 的公允價值計量，合併成本大於合併中取得under common control the Group recognizes goodwill as the 的被購買方於購買日可辨認淨資產公允價值
difference between the combination cost and the share of the 份額的差額，確認為商譽。
fair value of the acquiree’s identifiable net assets as at the
acquisition date.The assessment of fair values of identifiable assets and 評估可辨認資產和負債的公允價值涉及管理
liabilities involves significant estimate and judgment of the 層的重大估計和判斷，尤其是識別無形資產management especially the identification of intangible assets 並評估其公允價值，從而影響商譽的確認。
and the assessment of fair value of such assets which affects 購買日對可辨認淨資產公允價值的評估包括
the recognition of goodwill accordingly. The assessment of the 對無形資產的識別、估值方法的選擇、以及
fair value of identifiable net assets as at the acquisition date 對未來現金流的預測等，涉及收入增長率、covers identification of intangible assets selection of valuation 毛利率及折現率等關鍵假設的重大估計和判
approaches and forecast of future cash flows involving 斷。關鍵假設使用的輸入值的不同可能導致significant estimates and judgments of key assumptions such 公允價值估計存在較大差異。詳情載於附註as revenue growth rate gross profit margin and discount rate. 七。
Different inputs used for the key assumptions may result in
significant difference in fair value assessment. Relevant details
are set out in Note VII.Annual Report 2023二零二三年年報185
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
III. PRINCIPAL ACCOUNTING POLICIES AND 三、 重要會計政策及會計估計（續）
ACCOUNTING ESTIMATES (CONTINUED)
33. Changes in accounting policies and accounting 33. 會計政策和會計估計變更
estimates
Changes in accounting estimates 會計估計變更
Changes in long-term asset depreciation/amortization lives 長期資產折舊╱攤銷年限變更
As the update and iteration of new energy vehicle technologies 由於新能源汽車技術升級迭代持續加快，對continue to accelerate the requirements of power batteries on 應動力電池在產品結構及性能等方面的要求
product structure and performance continue to update. The 不斷升級。原先部分技術平台下的動力電池original power battery production equipment under some of 生產設備已經無法滿足新產品的生產，其壽the technology platforms is not able to meet the requirements 命已經低於原有折舊年限。為了更加客觀、for the production of new products therefore its useful life 準確地反映集團財務狀況和經營成果，集團is below the original depreciation life. To reflect the financial 根據自身固定資產的使用現狀和使用壽命，condition and operating results of the Group in a more 上述動力電池長期資產折舊/攤銷年限由5年objective and accurate way the Group changes the long- 變更為3年。
term asset depreciation/amortization lives of the above power
batteries from 5 years to 3 years based on the current use
condition and useful lives of its fixed assets.The changes in accounting estimates with effect from 1 此次會計估計變更已於二零二三年三月二十
January 2023 have been approved at the 31st meeting of 八日經本公司第七屆董事會第三十一次會
the Seventh Session of the Board and the 14th meeting of 議、第七屆監事會第十四次會議決議通過，the Seventh Session of the Supervisory Committee on 28 自二零二三年一月一日起執行。本會計估計March 2023. The changes in accounting estimates adopt the 變更採用未來適用法，對本集團以往各年度prospective application method which have no impact on the 財務狀況和經營成果不會產生影響，二零financial conditions and operating results of the Group for the 二三年度增加長期資產折舊╱攤銷人民幣
previous years. The depreciation/amortization of long-term 3347006千元，減少淨利潤和歸母淨利潤assets increased by RMB3347006000 and net profit and 人民幣2796731千元。
net profit attributable to the parent company decreased by
RMB2796731000 in 2023.186 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
IV. TAXATION 四、 稅項
1. Principal tax items and tax rates 1. 主要稅種及稅率
Tax base Tax rate計稅依據稅率
Value-added tax (“VAT”) Difference arising from the deduction of 3% 6% 9% or 13%
deductible input VAT from sales revenue and
output VAT based on applicable tax rate
增值稅銷售額和適用稅率計算的銷項稅額，抵扣准予抵扣3%、6%、9%或13%的進項稅額後的差額
Consumption tax Ad valorem collection for sales revenue of Vehicles: 1%-9%
taxable consumer goods Batteries: 4% (Ni–MH
batteries and lithium
batteries are exempt from
consumption tax)
消費稅從價計徵應稅消費品銷售額汽車1%-9%電池4%（其中鎳氫電池和鋰電池免徵消費稅）
City maintenance and Actual payment of VAT and consumption tax 1%-7%
construction tax
城市維護建設稅實際繳納的增值稅、消費稅稅額1%-7%
Enterprise income tax Taxable income note 1企業所得稅應納稅所得額註1
Education surcharge Actual payment of VAT and consumption tax 3%
教育費附加實際繳納的增值稅、消費稅稅額3%
Local education surcharge Actual payment of VAT and consumption tax 2%
地方教育附加實際繳納的增值稅、消費稅稅額2%
Overseas tax Calculation based on the tax laws and regulations of
other countries and regions海外稅項根據境外各國家和地區的稅收法規計算
Note 1: Save the subsidiaries that enjoy tax concessions as 註1： 除附註四、2所述享受企業所得稅優惠
stated in Note IV. 2 the Company’s branches and 的子公司外，本公司主要境內分、子公subsidiaries based in Mainland China are subject to the 司法定企業所得稅稅率為25%。
statutory enterprise income tax rate of 25%.Annual Report 2023二零二三年年報187
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
IV. TAXATION (CONTINUED) 四、 稅項（續）
2. Tax concessions and relevant documents 2. 稅收優惠及批文
Enterprise income tax 企業所得稅
Company name Preferential tax rate Duration公司名稱優惠稅率適用年份
BYD Auto Industry Company Limited 15% (national high-tech enterprise) 2021–2023
比亞迪汽車工業有限公司15%（國家級高新技術企業）
BYD Lithium Battery Co. Ltd. 15% (national high-tech enterprise) 2021–2023
深圳市比亞迪鋰電池有限公司15%（國家級高新技術企業）
Huizhou BYD Electronics Co. Ltd. 15% (national high-tech enterprise) 2021–2023
惠州比亞迪電子有限公司15%（國家級高新技術企業）
Beijing BYD Mould Co. Ltd. 15% (national high-tech enterprise) 2021–2023
北京比亞迪模具有限公司15%（國家級高新技術企業）
BYD Precision Manufacture Co. Ltd. 15% (national high-tech enterprise) 2021–2023
比亞迪精密製造有限公司15%（國家級高新技術企業）
Shenzhen Di Lian Technology Co. Ltd. 15% (national high-tech enterprise) 2021–2023
深圳迪鏈科技有限公司15%（國家級高新技術企業）
Guangdong BYD Energy-Saving Technology 15% (national high-tech enterprise) 2021–2023
Co. Ltd.廣東比亞迪節能科技有限公司15%（國家級高新技術企業）
Huizhou BYD Battery Co. Ltd. 15% (national high-tech enterprise) 2022–2024
惠州比亞迪電池有限公司15%（國家級高新技術企業）
BYD (Shaoguan) Co. Ltd. 15% (national high-tech enterprise) 2022–2024
韶關比亞迪實業有限公司15%（國家級高新技術企業）
Ningbo BYD Semiconductor Co. Ltd. 15% (national high-tech enterprise) 2022–2024
寧波比亞迪半導體有限公司15%（國家級高新技術企業）
CHANGSHA BYD AUTO CO. LTD. 15% (national high-tech enterprise) 2022–2024
長沙市比亞迪汽車有限公司15%（國家級高新技術企業）
Changzhou BYD Auto Co. Ltd. 15% (national high-tech enterprise) 2023–2025
常州比亞迪汽車有限公司15%（國家級高新技術企業）
Hefei BYD Auto Co. Ltd. 15% (national high-tech enterprise) 2023–2025
合肥比亞迪汽車有限公司15%（國家級高新技術企業）
Changsha FinDreams Battery Co. Ltd. 15% (national high-tech enterprise) 2023–2025
長沙弗迪電池有限公司15%（國家級高新技術企業）
FAW-FINDREAMS New Energy Technology 15% (national high-tech enterprise) 2023–2025
Co. Ltd.一汽弗迪新能源科技有限公司15%（國家級高新技術企業）
SHANGHAI BYD COMPANY LIMITED 15% (national high-tech enterprise) 2023–2025
上海比亞迪有限公司15%（國家級高新技術企業）
Shantou BYD Electronics Co. Ltd. 15% (national high-tech enterprise) 2023–2025
汕頭比亞迪電子有限公司 15%（國家級高新技術企業）188 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
IV. TAXATION (CONTINUED) 四、 稅項（續）
2. Tax concessions and relevant documents (continued) 2. 稅收優惠及批文（續）
Enterprise income tax (continued) 企業所得稅（續）
Company name Preferential tax rate Duration公司名稱優惠稅率適用年份
BYD Signal & Communication Company 15% (national high-tech enterprise) 2023–2025
Limited
比亞迪通信信號有限公司15%（國家級高新技術企業）
Shanwei BYD Auto Co. Ltd. 15% (national high-tech enterprise) 2023–2025
汕尾比亞迪汽車有限公司15%（國家級高新技術企業）
BYD Auto Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
比亞迪汽車有限公司15%（西部大開發優惠政策）
Xi’an FinDreams Battery Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
西安弗迪電池有限公司15%（西部大開發優惠政策）
Xi’an BYD Electronics Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
西安比亞迪電子有限公司15%（西部大開發優惠政策）
Guilin BYD Industrial Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
桂林比亞迪實業有限公司15%（西部大開發優惠政策）
Qinghai FinDreams Industry Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
青海弗迪實業有限公司15%（西部大開發優惠政策）
Chongqing FinDreams Battery Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
重慶弗迪鋰電池有限公司15%（西部大開發優惠政策）
Guiyang FinDreams Battery Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
貴陽弗迪電池有限公司15%（西部大開發優惠政策）
Guang’an BYD Industrial Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
廣安比亞迪實業有限公司15%（西部大開發優惠政策）
FinDreams Battery Gui’an Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
貴安新區弗迪電池有限公司15%（西部大開發優惠政策）
FinDreams Powertrain Guiyang Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
貴陽弗迪動力有限公司15%（西部大開發優惠政策）
Chongqing FinDreams Battery R&D Institute 15% (Preferential Policies for the Development of 2021–2030
Co. Ltd. Western China)
重慶弗迪電池研究院有限公司 15%（西部大開發優惠政策）Annual Report 2023二零二三年年報189
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
IV. TAXATION (CONTINUED) 四、 稅項（續）
2. Tax concessions and relevant documents (continued) 2. 稅收優惠及批文（續）
Enterprise income tax (continued) 企業所得稅（續）
Company name Preferential tax rate Duration公司名稱優惠稅率適用年份
Qinghai FinDreams Battery Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
青海弗迪電池有限公司15%（西部大開發優惠政策）
Shangluo BYD Industrial Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
商洛比亞迪實業有限公司15%（西部大開發優惠政策）
Nanning BYD New Materials Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
南寧比亞迪新材料有限公司15%（西部大開發優惠政策）
Nanning BYD Automotive Proving Grounds 15% (Preferential Policies for the Development of 2021–2030
Co. Ltd. Western China)
南寧比亞迪新能源汽車綜合測試場有限公司15%（西部大開發優惠政策）
Baoji BYD Industrial Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
寶鷄比亞迪實業有限公司15%（西部大開發優惠政策）
Chengdu BYD Electronics Co. Ltd. 15% (Preferential Policies for the Development of 2021–2030
Western China)
成都比亞迪電子有限公司15%（西部大開發優惠政策）
FinDreams Battery Guangxi ASEAN Co. Ltd. 9% (Tax Incentives for the Beibu Gulf Economic 2022–2025
Zone Guangxi)
廣西東盟弗迪電池有限公司9%（廣西北部灣經濟區稅收優惠政策）
FinDreams Battery Nanning Co. Ltd. 9% (Tax Incentives for the Beibu Gulf Economic 2022–2025
Zone Guangxi)
南寧弗迪電池有限公司9%（廣西北部灣經濟區稅收優惠政策）
Guangxi FinDreams Battery Co. Ltd. 9% (Tax Incentives for the Beibu Gulf Economic 2023–2025
Zone Guangxi)
廣西弗迪電池有限公司9%（廣西北部灣經濟區稅收優惠政策）
BYD Semiconductor Company Limited 10% (national key integrated circuit design 2023
enterprise)
比亞迪半導體股份有限公司10%（國家級重點集成電路企業）
BYD (Shenzhen) Supply Chain Management 15% (enterprise classified into the category of 2023
Co. Ltd. encouraged industries in Hengqin in
Guangdong Province Pingtan in Fujian Province
and Qianhai in Shenzhen)深圳市比亞迪供應鏈管理有限公司15%（廣東橫琴、福建平潭、深圳前海等地區的鼓勵類產業企業）190 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
IV. TAXATION (CONTINUED) 四、 稅項（續）
2. Tax concessions and relevant documents (continued) 2. 稅收優惠及批文（續）
Other tax concessions 其他稅收優惠
According to the Announcement No. 43 [2023] of the Ministry 根據財政部、稅務總局公告二零二三年第43of Finance and the State Taxation Administration “Notice on 號《關於先進製造業企業增值稅加計抵減政the Additional Value-Added Tax (VAT) Deduction Policy for 策的公告》，自二零二三年一月一日至二零Advanced Manufacturing Enterprises 《( 關於先進製造業企 二七年十二月三十一日，允許先進製造業企業增值稅加計抵減政策的公告》)” from 1 January 2023 to 業按照當期可抵扣進項稅額加計5%抵減應納
31 December 2027 advanced manufacturing enterprises 增值稅稅額（以下稱加計抵減政策），比亞迪
are allowed to deduct an additional 5% of the input VAT that 汽車工業有限公司、深圳市比亞迪鋰電池有
can be credited in the current period from the output VAT 限公司、惠州比亞迪電子有限公司、北京比payable (hereinafter referred to as the “Additional Deduction 亞迪模具有限公司、比亞迪精密製造有限公Policy”). BYD Auto Industry Company Limited BYD Lithium 司、廣東比亞迪節能科技有限公司、惠州比
Battery Co. Ltd. Huizhou BYD Electronics Co. Ltd. Beijing 亞迪電池有限公司、韶關比亞迪實業有限公
BYD Mould Co. Ltd. BYD Precision Manufacture Co. Ltd. 司、寧波比亞迪半導體有限公司、長沙市比
Guangdong BYD Energy-Saving Technology Co. Ltd. Huizhou 亞迪汽車有限公司、汕頭比亞迪電子有限公
BYD Battery Co. Ltd. BYD (Shaoguan) Co. Ltd. Ningbo BYD 司、汕尾比亞迪汽車有限公司適用該加計抵
Semiconductor Co. Ltd. CHANGSHA BYD AUTO CO. LTD. 減政策。
Shantou BYD Electronics Co. Ltd. and Shanwei BYD Auto Co.Ltd. are applicable to the Additional Deduction Policy.According to the Announcement No. 17 [2023] of the Ministry 根據財政部、稅務總局公告二零二三年第17of Finance and the State Taxation Administration “Notice on the 號《關於集成電路企業增值稅加計抵減政策Additional Value-Added Tax Deduction Policy for Integrated 的公告》，自二零二三年一月一日至二零二Circuit Enterprises (《關於集成電路企業增值稅加計抵減政 七年十二月三十一日，允許集成電路設計、策的公告》)” from 1 January 2023 to 31 December 2027 生產、封測、裝備、材料企業（以下稱集成integrated circuit design production packaging and testing 電路企業），按照當期可抵扣進項稅額加計equipment and material enterprises (hereinafter referred to 15%抵減應納增值稅稅額（以下稱加計抵減政as the “Integrated Circuit Enterprises”) are allowed to deduct 策），比亞迪半導體股份有限公司適用該加計an additional 15% of the input VAT that can be credited in the 抵減政策。
current period from the output VAT payable (hereinafter referred
to as the “Additional Deduction Policy”). BYD Semiconductor
Company Limited is applicable to the Additional Deduction
Policy.Annual Report 2023二零二三年年報191
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋
FINANCIAL STATEMENTS
1. Cash and bank balances 1. 貨幣資金
20232022
二零二三年二零二二年
Cash 庫存現金 12139 1525
Bank deposit 銀行存款 105318355 46448591
Other cash and bank balances 其他貨幣資金 3763914 5021147
Total 合計 109094408 51471263
Including: Aggregate of funds deposited 其中：存放在境外的款項總額
overseas 16435513 7618268
As at 31 December 2023 cash and bank balances which 於二零二三年十二月三十一日，本集團存放the Group placed overseas and were subject to restrictions 在境外且資金受到限制的貨幣資金為人民幣amoun ted to RMB16181000 (31 December 2022: 16181千元（二零二二年十二月三十一日：人RMB17138000). 民幣17138千元）。
2. Financial assets held for trading 2. 交易性金融資產
20232022
二零二三年二零二二年
Financial assets at fair value through profit 以公允價值計量且其變動計入當期
or loss 損益的金融資產
Structured deposits and certificate of deposit 結構性存款及大額存單 9542789 20615386
Derivative financial assets 衍生金融資產 19761 11544
Total 合計 9562550 20626930192 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
3. Trade receivables 3. 應收賬款
The aging of trade receivables is recognised based on the time 應收賬款賬齡按收入確認的時間予以確認，of revenue recognition. The aging analysis of trade receivables 應收賬款的賬齡分析如下：
is as follows:
20232022
二零二三年二零二二年
Within 1 year 1年以內 55779350 27927498
1 to 2 years 1年至2年 2063458 6184489
2 to 3 years 2年至3年 3139994 3849206
Over 3 years 3年以上 4466834 3656999
6544963641618192
Less: P rovision for bad debt of trade 減：應收賬款壞賬準備
receivables 3583617 2789698
Total 合計 61866019 38828494
The subsidies for new energy vehicle sales are included in the 上述應收賬款含應收新能源汽車補貼款。
above trade receivables.Annual Report 2023二零二三年年報193
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
3. Trade receivables (continued) 3. 應收賬款（續）
2023二零二三年
Book balance Provision for bad debt賬面餘額壞賬準備
Provision
Percentage rate Carrying
Amount (%) Amount (%) amount比例計提比例金額（%）金額（%）賬面價值
Provision for bad debt based on 單項計提壞賬準備
individual assessment 1021450 1.56 1005380 98.43 16070
Provision for bad debt based on 按信用風險特徵組合
collective assessment by credit 計提壞賬準備
risk portfolio 64428186 98.44 2578237 4.00 61849949
Total 合計 65449636 100.00 3583617 61866019
2022二零二二年
Book balance Provision for bad debt賬面餘額壞賬準備
Provision
Percentage rate Carrying
Amount (%) Amount (%) amount比例計提比例金額（%）金額（%）賬面價值
Provision for bad debt based on 單項計提壞賬準備
individual assessment 1058458 2.54 1037179 97.99 21279
Provision for bad debt based on 按信用風險特徵組合
collective assessment by credit 計提壞賬準備
risk portfolio 40559734 97.46 1752519 4.32 38807215
Total 合計 41618192 100.00 2789698 38828494194 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
3. Trade receivables (continued) 3. 應收賬款（續）
Trade receivables with provision for bad debt based on 單項計提壞賬準備的應收賬款情況如下：
individual assessment are shown as follows:
2023
二零二三年
Provision Provision
Book for rate
balance bad debt (%) Reason of provision計提比例
賬面餘額壞賬準備（%）計提理由
Customer 1 客戶一 156202 156202 100.00 Expected to be unrecoverable預計無法收回
Customer 2 客戶二 110377 110377 100.00 Expected to be unrecoverable預計無法收回
Customer 3 客戶三 84616 84616 100.00 Expected to be unrecoverable預計無法收回
Customer 4 客戶四 80034 80034 100.00 Expected to be unrecoverable預計無法收回
Customer 5 客戶五 74601 74601 100.00 Expected to be unrecoverable預計無法收回
Others 其他 515620 499550 96.88
Total 合計 1021450 1005380
As at 31 December 2023 trade receivables with provision 於二零二三年十二月三十一日，組合計提壞for bad debt based on collective assessment are shown as 賬準備的應收賬款情況如下：
follows:
Provision Provision
Book for rate
balance impairment (%)
賬面餘額減值準備計提比例（%）
Within 1 year (inclusive) 1年以內（含1年） 55717119 726642 1.30
1–2 years (inclusive) 1–2年（含2年） 2062784 99861 4.84
2–3 years (inclusive) 2–3年（含3年） 3074633 208900 6.79
3–4 years (inclusive) 3–4年（含4年） 1905098 160374 8.42
4–5 years (inclusive) 4–5年（含5年） 503007 216915 43.12
Over 5 years 5年以上 1165545 1165545 100.00
Total 合計 64428186 2578237Annual Report 2023二零二三年年報195
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
3. Trade receivables (continued) 3. 應收賬款（續）
As at 31 December 2022 trade receivables with provision 於二零二二年十二月三十一日，組合計提壞for bad debt based on collective assessment are shown as 賬準備的應收賬款情況如下：
follows:
Provision Provision
Book for rate
balance impairment (%)
賬面餘額減值準備計提比例（%）
Within 1 year (inclusive) 1年以內（含1年） 27915925 313871 1.12
1–2 years (inclusive) 1–2年（含2年） 6121236 304956 4.98
2–3 years (inclusive) 2–3年（含3年） 3810277 170265 4.47
3–4 years (inclusive) 3–4年（含4年） 1403412 187781 13.38
4–5 years (inclusive) 4–5年（含5年） 1009241 476003 47.16
Over 5 years 5年以上 299643 299643 100.00
Total 合計 40559734 1752519
The movements of provision for bad debt of trade receivables 應收賬款壞賬準備的變動如下：
are as follows:
Exchange
difference
Provision on foreign
Opening for Reversal in Write-off currency Closing
balance the year the year in the year translation balance外幣報表年初餘額本年計提本年轉回本年核銷折算差額年末餘額
2023二零二三年27896981328105(444490)(93220)35243583.617
2022二零二二年2154399999965(270293)(99036)46632789698
In 2023 there was no recovery of provision for bad debt or 於二零二三年度，無壞賬準備收回或轉回金reversal of significant amounts or write-off of significant trade 額重要的款項，無重要的應收賬款核銷款receivables. 項。196 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
3. Trade receivables (continued) 3. 應收賬款（續）As at 31 December 2023 trade receivables (excluding the 於二零二三年十二月三十一日，應收賬款（不subsidies for new energy vehicle sales) and contract assets 含新能源補貼款）和合同資產（不含新能源補(excluding the subsidies for new energy vehicle sales) of the 貼款）金額前五名如下：
five greatest amounts are shown as follows:
Closing
Percentage balance of
of the provision
aggregate for bad debt
closing of trade
Closing balance receivables
balance of trade and
of trade receivables provision
Closing Closing receivables and for
balance of balance of and contract impairment
trade contract contract assets of contract
receivables assets assets (%) assets佔應收賬款應收賬款和合同資產壞賬準備和應收賬款和年末餘額合合同資產應收賬款合同資產合同資產計數的比例減值準備
年末餘額年末餘額年末餘額（%）年末餘額
Customer with the greatest 應收賬款和合同資產
amount 金額第一大客戶 10330025 – 10330025 15.07 23843
Customer with the second 應收賬款和合同資產
greatest amount 金額第二大客戶 3240469 – 3240469 4.73 8841
Customer with the third 應收賬款和合同資產
greatest amount 金額第三大客戶 1701161 – 1701161 2.48 3913
Customer with the fourth 應收賬款和合同資產
greatest amount 金額第四大客戶 1448239 – 1448239 2.11 332
Customer with the fifth 應收賬款和合同資產
greatest amount 金額第五大客戶 1158067 – 1158067 1.69 2670
Total 合計 17877961 – 17877961 26.08 39599Annual Report 2023二零二三年年報197
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
4. Receivables financing 4. 應收款項融資
20232022
二零二三年二零二二年
Bank acceptance bills 銀行承兌匯票 5596369 7796719
Trade receivables 應收賬款 – 5167489
Original carrying amount at the end of the year 年末賬面原值 5596369 12964208
Less: O ther comprehensive income 減：其他綜合收益 – 公允價值變動
– change in fair value 31445 69924
Fair value at the end of the year 年末公允價值 5564924 12894284
The business model of the Company for the management 企業對部分應收賬款和應收票據管理的業務
of a portion of trade receivables and notes receivable is 模式既以收取合同現金流為目標又以出售為
for the purposes of receiving contractual cash flows and 目標，分類為以公允價值計量且其變動計入trading. Financial assets classified as fair value through 其他綜合收益的金融資產，列報為應收款項other comprehensive income are presented as receivables 融資。
financing.Endorsed or discounted notes receivable which have not 已背書或貼現但在資產負債表日尚未到期的
become due at the balance sheet date are as follows: 應收票據如下：
20232022
二零二三年二零二二年
Not Not
Derecognised derecognised Derecognised derecognised終止確認未終止確認終止確認未終止確認
Bank acceptance bills 銀行承兌匯票 91841294 – 85440516 5905
Details of transfer of financial assets related to notes receivable 與應收票據相關的金融資產轉移詳見附註
are set out in Note X.6. 十、6。198 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
5. Other receivables 5. 其他應收款
20232022
二零二三年二零二二年
Other receivables 其他應收款 2757912 1910009
Aging analysis of other receivables is as follows: 其他應收款的賬齡分析如下：
20232022
二零二三年二零二二年
Within 1 year 1年以內 2167608 1661359
1 to 2 years 1年至2年 377098 62965
2 to 3 years 2年至3年 46331 172318
Over 3 years 3年以上 343383 187817
29344202084459
Less: Bad debt provision for other receivables 減：其他應收款壞賬準備 176508 174450
Total 合計 2757912 1910009Annual Report 2023二零二三年年報199
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
5. Other receivables (continued) 5. 其他應收款（續）
Book balance of other receivables analysed by nature are as 其他應收款賬面餘額按性質分類如下：
follows:
20232022
二零二三年二零二二年
Deposit and security 保證金及押金 923249 325032
Export rebates and taxes 出口退稅及稅金 75609 352145
Transfer from prepayments before shipment 未發貨預付款轉入 174793 173406
Loans to employees 員工借款 112760 74285
Social security contribution on behalf of 代扣代繳員工社保
employees 706350 429122
Deferred expenses 待攤費用 259981 84952
Others 其他 681678 645517
Total 合計 2934420 2084459
2023二零二三年
Book balance Bad debt provision賬面餘額壞賬準備
Provision
Percentage rate Carrying
Amount (%) Amount (%) amount比例計提比例金額（%）金額（%）賬面價值
Provision for bad debt based on 單項計提壞賬準備
individual assessment 174793 5.96 174793 100.00 –
Provision for bad debt based on 按信用風險特徵組合
collective assessment by credit 計提壞賬準備
risk portfolio 2759627 94.04 1715 0.06 2757912
Total 合計 2934420 100.00 176508 2757912200 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
5. Other receivables (continued) 5. 其他應收款（續）
Other receivables (continued) 其他應收款（續）
2022二零二二年
Book balance Bad debt provision賬面餘額壞賬準備
Percentage Provision CarryingAmount （%) Amount rate（ %) amount比例計提比例金額（%）金額（%）賬面價值
Provision for bad debt based on 單項計提壞賬準備
individual assessment 173406 8.32 173406 100.00 –
Provision for bad debt based on 按信用風險特徵組合
collective assessment by credit 計提壞賬準備
risk portfolio 1911053 91.68 1044 0.05 1910009
Total 合計 2084459 100.00 174450 1910009
Other receivables with provision for bad debt based on 單項計提壞賬準備的其他應收款情況如下：
individual assessment are shown as follows:
2023
二零二三年
Provision Provision
Book for rate
balance bad debt (%) Reason of provision計提比例
賬面餘額壞賬準備（%）計提理由
Customer 1 客戶一 94616 94616 100.00 Expected to be unrecoverable預計無法收回
Customer 2 客戶二 78790 78790 100.00 Expected to be unrecoverable預計無法收回
Customer 3 客戶三 1387 1387 100.00 Expected to be unrecoverable預計無法收回
Total 合計 174793 174793Annual Report 2023二零二三年年報201
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
5. Other receivables (continued) 5. 其他應收款（續）
Other receivables (continued) 其他應收款（續）
Changes of provision for bad debt of other receivables based 其他應收款按照12個月預期信用損失及整個
on 12-month expected credit loss and lifetime expected credit 存續期預期信用損失分別計提的壞賬準備的
loss are as follows: 變動如下：
Stage 1 Stage 2 Stage 3
第一階段第二階段第三階段
Lifetime Lifetime
expected expected
credit loss credit loss
12-month (no credit (credit
expected impairment impairment
credit loss incurred) incurred) Total整個存整個存續期預期續期預期未來12個月信用損失信用損失預期信用（未發生信用（已發生信用損失減值）減值）合計
Opening balance 年初餘額 828 216 173406 174450
Changes in the year 年初餘額在本年階段轉換 (289) 289 – –
Provision for the year 本年計提 594 77 1387 2058
Reversal in the year 本年轉回 – – – –
Offset in the year 本年轉銷 – – – –
Write-off in the year 本年核銷 – – – –
Other changes 其他變動 – – – –
Closing balance 年末餘額 1133 582 174793 176508202 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
5. Other receivables (continued) 5. 其他應收款（續）
Other receivables (continued) 其他應收款（續）
Changes of provision for bad debt of other receivables are as 其他應收款壞賬準備的變動如下：
follows:
Provision Recovery
Opening for or reversal Write-off Closing
balance the year in the year in the year balance本年收回年初餘額本年計提或轉回本年核銷年末餘額
Provision for bad debt of 其他應收款壞賬準備
other receivables 174450 2058 – – 176508
In 2023 there was no recovery of provision for bad debt or 於二零二三年度，無壞賬準備收回或轉回金reversal of significant amounts or write off of significant trade 額重要的款項，無重要的其他應收款核銷款receivables. 項。
As at 31 December 2023 other receivables of five greatest 於二零二三年十二月三十一日，其他應收款amounts are as follows: 金額前五名如下：
Proportion
to total Provision
other for bad debt
Closing receivables at the end of
balance (%) Nature Aging the year佔其他應收款餘額合計數壞賬準備
年末餘額的比例(%)性質賬齡年末餘額
Customer with the greatest amount 124921 4.26 Equity transfer Over 3 years 125其他應收款餘額第一大客戶股權轉讓3年以上
Customer with the second greatest 108405 3.69 Others Within 1 year 108
amount其他應收款餘額第二大客戶其他1年以內
Customer with the third greatest amount 94616 3.22 Transfer from prepayments Over 3 year 94616
before shipment其他應收款餘額第三大客戶未發貨預付款轉入3年以上
Customer with the fourth greatest amount 80000 2.73 Deposits and security Within 1 year 80其他應收款餘額第四大客戶保證金及押金1年以內
Customer with the fifth greatest amount 78790 2.69 Transfer from prepayments 1-2 years 78790
before shipmen其他應收款餘額第五大客戶未發貨預付款轉入1年至2年
486732 16.59 173719Annual Report 2023
二零二三年年報203
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
6. Prepayments 6. 預付款項
Aging analysis of prepayments is as follows: 預付款項的賬齡分析如下：
20232022
二零二三年二零二二年
Book Book
balance Percentage balance Percentage賬面餘額比例賬面餘額比例
Within 1 year 1年以內 1936358 87.41% 7982477 97.07%
1 to 2 years 1年至2年 161155 7.27% 168177 2.04%
2 to 3 years 2年至3年 93240 4.21% 16900 0.21%
Over 3 years 3年以上 24660 1.11% 56013 0.68%
Total 合計 2215413 100.00% 8223567 100.00%
As at 31 December 2023 prepayments of five greatest 於二零二三年十二月三十一日，預付款項前amounts total RMB360458000 accounting for 16.27% 五名共計人民幣360458千元，佔預付款項of the tota l c losing balance of prepayments (2022: 期末餘額合計數的比例為16.27%。（二零二二RMB4710895000 account ing fo r 57.29% o f to ta l 年人民幣4710895千元，佔預付賬款總額prepayments). 的57.29%）。
7. Inventories 7. 存貨
20232022
二零二三年二零二二年
Provision Provision
Book for Carrying Book for Carrying
balance impairment amount balance impairment amount
跌價準備╱跌價準備╱賬面餘額減值準備賬面價值賬面餘額減值準備賬面價值
Raw materials 原材料 15395809 583550 14812259 17462766 204714 17258052
Work in progress 在產品 30520428 284427 30236001 26967619 155347 26812272
Finished goods 庫存商品 41183761 2471301 38712460 32795933 1002252 31793681
Circulating materials 週轉材料 3930745 14717 3916028 3267035 23841 3243194
91030743 3353995 87676748 80493353 1386154 79107199204 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
7. Inventories (continued) 7. 存貨（續）
Changes of provision for inventory impairment are as follows: 存貨跌價準備變動如下：
2023二零二三年
Provision
Opening for Decrease Closing
balance the year in the year balance年初餘額本年計提本年減少年末餘額
Reversal or
write-off轉回或轉銷
Raw materials 原材料 204714 488384 (109548) 583550
Work in progress 在產品 155347 185525 (56445) 284427
Finished goods 庫存商品 1002252 1569325 (100276) 2471301
Circulating materials 週轉材料 23841 9663 (18787) 14717
Total 合計 1386154 2252897 (285056) 3353995
The provision for inventory impairment based on collective 按組合計提存貨跌價準備的情況如下：
assessment by portfolio is shown as follows:
20232022
二零二三年二零二二年
Provision Provision
for Provision for Provision
Book inventory rate Book inventory rate
balance impairment (%) balance impairment (%)計提比例計提比例
賬面餘額跌價準備（%）賬面餘額跌價準備（%）
Automobiles and related products 汽車、汽車相關產品
and other products 及其他產品 72550178 3193731 4.40% 63829788 1231083 1.93%
Raw materials 原材料 12790158 522749 4.09% 15372998 119342 0.78%
Work in progress 在產品 26421256 278631 1.05% 24348843 155104 0.64%
Finished goods 庫存商品 30188518 2378365 7.88% 21613309 932977 4.32%
Circulating materials 週轉材料 3150246 13986 0.44% 2494638 23660 0.95%
Mobile handset components 手機部件、組裝及
assembly service and 其他產品
other products 18480565 160264 0.87% 16663565 155071 0.93%
Total 合計 91030743 3353995 3.68% 80493353 1386154 1.72%Annual Report 2023二零二三年年報205
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
7. Inventories (continued) 7. 存貨（續）
The provision for impairment of major goods in the segment of 汽車及汽車相關業務中的庫存商品按單個存
automobiles and related products is recognised on the item- 貨項目計提，以估計售價為基礎確定可變現by-item basis and the net realisable value is determined on 淨值。汽車及汽車相關業務中的其他存貨以the basis of estimated selling price. The net realisable value 及手機業務存貨以歷史損失情況與業務風險
of other inventories in the segment of automobiles and related 為基礎，考慮不同類型存貨呆滯過時風險及products and of the inventories of the segment of mobile 未來市場需求、產品迭代及項目變更風險，handset is estimated based on historical losses and business 結合庫齡分別評估相關存貨的可變現淨值。
risks taking into account the risk of slow-moving inventory 同時基於謹慎性原則，對手機業務1年以上and obsolete inventory future market demands and the risk of 庫齡的存貨全額計提跌價準備。
product iteration and project change as well as aging profile.Based on the principle of prudence the provision for inventory
impairment is recognised in full for inventories of the segment
of mobile handset aged over one year.The reversal or write-off of provision for inventory impairment 本年轉回或轉銷存貨跌價準備的原因為產品
in the year is attributable to rebound of prices of products or 價格回升或因產成品銷售相應轉銷存貨跌價
sales of finished goods. 準備。
8. Contract assets 8. 合同資產
20232022
二零二三年二零二二年
Provision Provision
Book for Carrying Book for Carrying
balance impairment amount balance impairment amount賬面餘額減值準備賬面價值賬面餘額減值準備賬面價值
Contract assets 合同資產 3088083 427764 2660319 14037396 484398 13552998
The main reason for the significant change in the carrying 本年合同資產賬面價值發生重大變動的主要
amount of contract assets during the year: the rights to the 原因：對合同對價的權利成為無條件權利
contract considerations to become unconditional (which means （即，合同資產重分類為應收賬款）。
that the contract assets are reclassified as trade receivables).Contract assets represent the rights to receive considerations 合同資產，是指企業已向客戶轉讓商品而有for the transfer of goods to customers. Contract assets arise 權收取對價的權利。履約義務的履行早於合when the fulfillment of performance obligations is earlier than 同中約定的付款進度則會出現合同資產，在the progress payments agreed in the contract which would be 合同達到無條件收款權條件時，轉入應收賬transferred to trade receivables when the contract meets the 款。
conditions for unconditional rights to receive payments.206 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
8. Contract assets (continued) 8. 合同資產（續）
2023二零二三年
Book balance Provision for impairment賬面餘額減值準備
Provision
Percentage rate Carrying
Amount (%) Amount (%) amount比例計提比例金額（%）金額（%）賬面價值
Provision for impairment based 單項計提減值準備
on individual assessment 304603 9.86 304603 100.00 –
Provision for impairment based 按信用風險特徵組合
on collective assessment by 計提減值準備
credit risk portfolio 2783480 90.14 123161 4.42 2660319
Total 合計 3088083 100.00 427764 2660319
2022二零二二年
Book balance Provision for impairment賬面餘額減值準備
Provision
Percentage rate Carrying
Amount (%) Amount (%) amount比例計提比例金額（%）金額（%）賬面價值
Provision for impairment based 按信用風險特徵組合計
on collective assessment by 提減值準備
credit risk portfolio 14037396 100.00 484398 3.45 13552998Annual Report 2023二零二三年年報207
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
8. Contract assets (continued) 8. 合同資產（續）
As at 31 December 2023 contract assets with provision for 於二零二三年十二月三十一日，單項計提減impairment based on individual assessment are as follows: 值準備的合同資產情況如下：
2023
二零二三年
Provision Provision
Book for rate
balance impairment (%) Reason of provision
賬面餘額減值準備計提比例（%）計提理由
Customer 1 客戶一 304603 304603 100.00 Expected to be unrecoverable預計無法收回
The movements of provision for impairment of contract assets 合同資產減值準備的變動如下：
are as follows:
Provision Reversal Write-off
Opening for in in Closing
balance the year the year the year balance年初餘額本年計提本年轉回本年轉銷年末餘額
2023二零二三年484398354490(411124)–427764
2022二零二二年345591187390(48583)–484398
In 2023 and 2022 there were no significant reversal write-off 於二零二三年度及二零二二年度，無重大合or recovery of provision for impairment of contract assets. 同資產減值準備轉回、核銷或收回情況。208 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
9. Other current assets 9. 其他流動資產
20232022
二零二三年二零二二年
Deductible VAT 待抵扣增值稅 12034922 11258125
Costs of property held for sale (Note 1) 待出售房產成本（註1） 1131047 1405854
Others 其他 48833 472222
1321480213136201
Note 1: In 2017 the Group acquired the entire property that 註1： 二零一七年本集團向第三方開發商整體
has been completely developed Yadi Sancun from a 購入已完成開發的房產（亞迪三村）。本third-party developer. Some parts of the property have 年部分完成交付，確認營業收入金額為been delivered in the year and generate revenue of 人民幣271476千元(二零二二年：人民RMB271476000 (2022: RMB549096000). 幣549096千元）。
10. Long-term receivables 10. 長期應收款
20232022
二零二三年二零二二年
Provision Provision
Book for Carrying Book for Carrying Range of
balance bad debt amount balance bad debt amount discount rate賬面餘額壞賬準備賬面價值賬面餘額壞賬準備賬面價值折現率區間
Long-term receivables 長期應收款 16891529 1144988 15746541 2593603 422404 2171199
Including: Long-term 其中：一年內到期
receivables due within 的長期應收款
one year 8503329 994978 7508351 1441914 389352 1052562
8388200 150010 8238190 1151689 33052 1118637 4.75%-4.90%Annual Report 2023
二零二三年年報209
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
10. Long-term receivables (continued) 10. 長期應收款（續）
2023二零二三年
Book balance Provision for bad debt賬面餘額壞賬準備
Provision
Percentage rate Carrying
Amount （%） Amount （%） amount比例計提比例金額（%）金額（%）賬面價值
Provision for bad debt based on 按信用風險特徵組合
collective assessment by credit 計提壞賬準備
risk portfolio 16891529 100.00 1144988 6.78 15746541
2022二零二二年
Book balance Provision for bad debt賬面餘額壞賬準備
Provision
Percentage rate Carrying
Amount （%） Amount （%） amount比例計提比例金額（%）金額（%）賬面價值
Provision for bad debt based on 按信用風險特徵組合
collective assessment by credit 計提壞賬準備
risk portfolio 2593603 100.00 422404 16.29 2171199210 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
10. Long-term receivables (continued) 10. 長期應收款（續）
As at 31 December 2023 long-term receivables with provision 於二零二三年十二月三十一日，組合計提壞for bad debt based on collective assessment are shown as 賬準備的長期應收款情況如下：
follows:
Provision for Provision rate
Book balance impairment (%)
賬面餘額減值準備計提比例（%）
Portfolio 1 組合1 15040206 212249 1.41
Portfolio 2 組合2 1851323 932739 50.38
Total 合計 16891529 1144988
Changes of provision for bad debt of long-term receivables are 長期應收款壞賬準備的變動如下：
as follows:
Exchange
difference on
Provision foreign
Opening for Reversal in Write-off currency Closing
balance the year the year in the year translation balance外幣報表年初餘額本年計提本年轉回本年轉銷折算差額年末餘額
2023二零二三年33052131946(14988)––150010
2022 二零二二年 41331 19301 (27580) – – 33052Annual Report 2023
二零二三年年報211
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
11. Long-term equity investments 11. 長期股權投資
31 December 2023 二零二三年十二月三十一日
Movement during the year本年變動
Investment Provision for
gains Other Other Cash Provision impairment
Opening Increase of Decrease of under equity comprehensive equity dividend for Closing as at the end
Joint ventures balance investment investment method income movement declared impairment balance of the year權益法下其他其他宣告計提年末合營企業年初餘額追加投資減少投資投資收益綜合收益權益變動現金股利減值準備年末餘額減值準備
BYD Auto Finance Company Limited 8845381 – – 1085362 – – – – 9930743 –比亞迪汽車金融有限公司
Hengqin Hexie Dingtai Equity
Investment LP 764113 – – 3193 – – – – 767306 –橫琴和諧鼎泰股權投資企業（有限合夥）
Community Fund LP 546009 – – (18276) – – – – 527733 –
Community Fund LP
Shenzhen Didi New Energy Vehicle
Technology Co. Ltd 33743 389581 – 28530 – – – – 451854 –深圳市迪滴新能源汽車科技有限公司
Other joint ventures 1095317 75542 – (105982) – – – – 1064877 –其他合營企業
Sub-total 11284563 465123 – 992827 – – – – 12742513 –
小計212 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
11. Long-term equity investments (continued) 11. 長期股權投資（續）
31 December 2023 二零二三年十二月三十一日
Movement during the year本年變動
Investment Provision for
gains Other Other Cash Provision impairment
Opening Increase of Decrease of under equity comprehensive equity dividend for Closing as at the end
Associates balance investment investment method income movement declared impairment balance of the year權益法下其他其他宣告計提年末年末聯營企業年初餘額追加投資減少投資投資收益綜合收益權益變動現金股利減值準備餘額減值準備
Chengxin Lithium Group Co. Ltd. 2000000 – – 65120 – – (30310) – 2034810 –盛新鋰能集團股份有限公司
Tibet Zabuye Lithium Industry
Co. Ltd. 524804 – – 64727 – – (105027) – 484504 –西藏日喀則紮布耶鋰業高科技有限公司
Shenzhen Faurecia Auto Parts Co.Ltd. 314168 – – 155564 – – – – 469732 –深圳佛吉亞汽車部件有限公司
Carbon One New Energy Group
Co. Ltd. 298089 – – (10123) – – – – 287966 –碳一新能源集團有限責任公司
Other associates 1063778 640973 (90342) 27812 – 12911 (27445) – 1627687 –其他聯營企業
Sub-total 4200839 640973 (90342) 303100 – 12911 (162782) – 4904699 –小計
Total 15485402 1106096 (90342) 1295927 – 12911 (162782) – 17647212 –
合計Annual Report 2023二零二三年年報213
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
12. Other equity instrument investments 12. 其他權益工具投資
20232022
二零二三年二零二二年
Listed equity instrument investments 上市權益工具投資 2347727 1325441
Unlisted equity instrument investments 非上市權益工具投資 2979556 3093143
Total 合計 5327283 4418584
Accumulative
Gains included Losses included Accumulative losses
in other in other gains included included Reason for being designated
comprehensive comprehensive in other in other Dividend as measured at fair value
income income comprehensive comprehensive income through other comprehensive
during the year during the year income income during the year income本年計入其他本年計入其他累計計入其他累計計入其他指定為以公允價值計量且其變動綜合收益的利得綜合收益的損失綜合收益的利得綜合收益的損失本年股利收入計入其他綜合收益的原因
Listed equity instrument
investment 120591 (342319) 1045534 (754754) 18682 Strategic holding上市權益工具投資戰略持有
Unlisted equity
instrument
investments 442854 (230) 1067625 – 863 Strategic holding非上市權益工具投資戰略持有
Total 563445 (342549) 2113159 (754754) 19545合計
There were no other equity instruments derecognised during 本年度無終止確認的其他權益工具。
the year.214 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
13. Other non-current financial assets 13. 其他非流動金融資產
20232022
二零二三年二零二二年
Financial assets at fair value through 以公允價值計量且其變動計入
profit or loss 當期損益的金融資產 2696374 2147140
The financial assets above include fund investments and other 上述金融資產包括基金投資和其他股權投
equity investments. 資。
14. Investment properties 14. 投資性房地產
Subsequent measurement using the cost model: 採用成本模式進行後續計量：
31 December 2023 二零二三年十二月三十一日
Buildings房屋建築物
Cost 原價
Opening balance 年初數 115346
Closing balance 年末數 115346
Accumulated depreciation and amortisation 累計折舊和攤銷
Opening balance 年初數 30341
Provision 計提 2495
Closing balance 年末數 32836
Carrying amount 賬面價值
Closing balance 年末數 82510
Opening balance 年初數 85005Annual Report 2023二零二三年年報215
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
14. Investment properties (continued) 14. 投資性房地產（續）
31 December 2022 二零二二年十二月三十一日
Buildings房屋建築物
Cost 原價
Opening balance 年初數 115346
Closing balance 年末數 115346
Accumulated depreciation and amortisation 累計折舊和攤銷
Opening balance 年初數 27846
Provision 計提 2495
Closing balance 年末數 30341
Carrying amount 賬面價值
Closing balance 年末數 85005
Opening balance 年初數 87500216 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
15. Fixed assets 15. 固定資產
2023二零二三年
Machinery Office
Freehold and Motor and other
land Buildings equipment vehicles equipment Total永久房屋及辦公及業權土地建築物機器設備運輸工具其他設備合計
Cost 原價
Opening balance 年初餘額 369873 42950462 128609415 2885741 19219159 194034650
Acquisitions 購置 47558 1472228 48115450 2808406 6250995 58694637
Business combinations not 非同一控制下企業
involving entities under 合併
common control – – 3215996 7382 129366 3352744
Transfer from construction in 在建工程轉入
progress – 39611447 33541394 – 3046045 76198886
Disposal or retirement 處置或報廢 – (98076) (6190093) (609095) (396600) (7293864)
Exchange difference on foreign 外幣報表折算差額
currency translation 10241 17538 21668 31961 5549 86957
Closing balance 年末餘額 427672 83953599 207313830 5124395 28254514 325074010
Accumulated depreciation 累計折舊
Opening balance 年初餘額 – 6038464 45563276 1271329 9161879 62034948
Provision 計提 – 2358059 29993488 597024 4766833 37715404
Disposal or retirement 處置或報廢 – (14835) (5108036) (246243) (357164) (5726278)
Exchange difference on foreign 外幣報表折算差額
currency translation – 4620 7979 17808 2339 32746
Closing balance 年末餘額 – 8386308 70456707 1639918 13573887 94056820
Provision for impairment 減值準備
Opening balance 年初餘額 – 42353 76980 – – 119333
Write-off 轉銷 – – (5963) – – (5963)
Closing balance 年末餘額 – 42353 71017 – – 113370
Carrying amount 賬面價值
As at the end of the year 年末 427672 75524938 136786106 3484477 14680627 230903820
As at the beginning of the year 年初 369873 36869645 82969159 1614412 10057280 131880369Annual Report 2023二零二三年年報217
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
15. Fixed assets (continued) 15. 固定資產（續）
2022二零二二年
Machinery Office
Freehold and Motor and other
land Buildings equipment vehicles equipment Total永久房屋及辦公及業權土地建築物機器設備運輸工具其他設備合計
Cost 原價
Opening balance 年初餘額 38544 24806540 71406280 2013684 14196592 112461640
Acquisitions 購置 306324 2235241 39073979 1079939 4571354 47266837
Transfer from construction in 在建工程轉入
progress – 16116055 21879554 80 1022497 39018186
Disposal or retirement 處置或報廢 – (207845) (3760127) (239676) (576352) (4784000)
Exchange difference on foreign 外幣報表折算差額
currency translation 25005 471 9729 31714 5068 71987
Closing balance 年末餘額 369873 42950462 128609415 2885741 19219159 194034650
Accumulated depreciation 累計折舊
Opening balance 年初餘額 – 5001436 37784908 1018218 7316296 51120858
Provision 計提 – 1094715 10796838 372285 2338628 14602466
Disposal or retirement 處置或報廢 – (60227) (3023871) (131104) (495410) (3710612)
Exchange difference on foreign 外幣報表折算差額
currency translation – 2540 5401 11930 2365 22236
Closing balance 年末餘額 – 6038464 45563276 1271329 9161879 62034948
Provision for impairment 減值準備
Opening balance 年初餘額 – 42353 77064 – – 119417
Write-off 轉銷 – – (84) – – (84)
Closing balance 年末餘額 – 42353 76980 – – 119333
Carrying amount 賬面價值
As at the end of the year 年末 369873 36869645 82969159 1614412 10057280 131880369
As at the beginning of the year 年初 38544 19762751 33544308 995466 6880296 61221365218 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
15. Fixed assets (continued) 15. 固定資產（續）
As at 31 December 2023 and 31 December 2022 the Group 於二零二三年十二月三十一日及二零二二年
had no fixed assets that were temporarily idle. 十二月三十一日，本集團無暫時閑置的固定資產。
Fixed assets leased out through operating leases are as 經營性租出固定資產如下：
follows:
Initial Accumulated Net carrying
asset value depreciation amount資產原值累計折舊賬面淨值
Buildings 房屋及建築物 377902 (102433) 275469
Motor vehicles 運輸工具 68596 (27943) 40653
Total 合計 446498 (130376) 316122
As at 31 December 2023 the fixed assets with outstanding 於二零二三年十二月三十一日，未辦妥產權certificates of title are as follows: 證書的固定資產如下：
Carrying
amount Reasons for outstanding certificates of title賬面價值未辦妥產權證書的原因
Buildings 29491245 All procedures yet to be completed
房屋及建築物 尚未辦完所有手續Annual Report 2023二零二三年年報219
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
16. Construction in progress 16. 在建工程
20232022
二零二三年二零二二年
Construction in progress 在建工程 30360803 37259224
Materials for construction 工程物資 4365393 7362711
Total 合計 34726196 44621935
Construction in progress 在建工程
20232022
二零二三年二零二二年
Provision Provision
Book for Carrying Book for Carrying
balance impairment amount balance impairment amount賬面餘額減值準備賬面價值賬面餘額減值準備賬面價值
Southern China Industrial Park 華南工業園 8200424 – 8200424 11491602 – 11491602
Eastern China Industrial Park 華東工業園 7639814 – 7639814 9030220 – 9030220
Northwest Industrial Park 西北工業園 4335564 – 4335564 6098192 – 6098192
Central China Industrial Park 華中工業園 4196112 – 4196112 5612315 – 5612315
Southwest Industrial Park 西南工業園 3915351 – 3915351 4537936 – 4537936
Other industrial parks 其他工業園 2073538 – 2073538 488959 – 488959
Total 合計 30360803 – 30360803 37259224 – 37259224
Note: The projects above consist of certain related sub-projects. 註： 以上工程項目均由若干相關的分項目組成。220 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
16. Construction in progress (continued) 16. 在建工程（續）
Construction in progress (continued) 在建工程（續）
Changes in major construction in progress are as follows: 重要在建工程變動如下：
Business Construction
combinations contribution
not involving Transfer to as a
Increases entities under fixed assets percentage
Opening during common during Other Closing of budget
Item Budget balance the year control the year reduction balance Source of funds (%)工程投入非同一控制下本年轉入佔預算比例
項目名稱預算數年初餘額本年增加企業合併固定資產其他減少年末餘額資金來源(%)
Southern China Industrial Park 43262646 11491602 15653144 – (18926143) (18179) 8200424 Self-raised funds 63%華南工業園自籌資金
Eastern China Industrial Park 43161322 9030220 22046487 24366 (23461259) – 7639814 Self-raised funds 72%華東工業園自籌資金
Northwest Industrial Park 27986533 6098192 13446325 – (15208953) – 4335564 Borrowings and self-raised 70%
西北工業園 funds借款及自籌
Central China Industrial Park 22356147 5612315 11425366 – (12839854) (1715) 4196112 Borrowings and self-raised 76%
華中工業園 funds借款及自籌
Southwest Industrial Park 11627949 4537936 4652527 95081 (5370193) – 3915351 Self-raised funds 80%西南工業園自籌資金
Other industrial parks 5177043 488959 1977063 – (392484) – 2073538 Self-raised funds 48%其他工業園自籌資金
1535716403725922469200912119447(76198886)(19894)30360803
As at 31 December 2023 the capitalised interests on 於二零二三年十二月三十一日，本集團在建borrowings included in the construction in progress of the 工程中含有的借款費用利息資本化金額合計
Group were RMB802000 in total. 人民幣802千元。Annual Report 2023二零二三年年報221
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
16. Construction in progress (continued) 16. 在建工程（續）
Materials for construction 工程物資
20232022
二零二三年二零二二年
Provision Provision
Book for Carrying Book for Carrying
balance impairment amount balance impairment amount
Item 項目 賬面餘額 減值準備 賬面價值 賬面餘額 減值準備 賬面價值
Equipment and engineering 設備及工程類 4365393 – 4365393 7362711 – 7362711
17. Right-of-use assets 17. 使用權資產
31 December 2023 二零二三年十二月三十一日
Other
Buildings equipment Total房屋及建築物其他設備合計
Cost 原價
Opening balance 年初餘額 4069667 40877 4110544
Increase during the year 本年新增 3567422 3567499 7134921
Business combinations not involving 非同一控制下企業合併
entities under common control 981590 10175 991765
Disposal or retirement 處置或報廢 (413265) (8414) (421679)
Exchange difference on foreign 外幣報表折算差額
currency translation 15306 454 15760
Closing balance 年末餘額 8220720 3610591 11831311
Accumulated depreciation 累計折舊
Opening balance 年初餘額 955397 17820 973217
Provision 計提 1252140 138358 1390498
Disposal or retirement 處置或報廢 (223090) (7219) (230309)
Exchange difference on foreign 外幣報表折算差額
currency translation 18611 338 18949
Closing balance 年末餘額 2003058 149297 2152355
Carrying amount 賬面價值
As at the end of the year 年末 6217662 3461294 9678956
As at the beginning of the year 年初 3114270 23057 3137327222 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
17. Right-of-use assets (continued) 17. 使用權資產（續）
31 December 2022 二零二二年十二月三十一日
Other
Buildings equipment Total房屋及建築物其他設備合計
Cost 原價
Opening balance 年初餘額 2015575 29090 2044665
Increase during the year 本年新增 2177574 11856 2189430
Disposal or retirement 外置或報廢 (142376) (249) (142625)
Exchange difference on foreign 外幣報表折算差額
currency translation 18894 180 19074
Closing balance 年末餘額 4069667 40877 4110544
Accumulated depreciation 累計折舊
Opening balance 年初餘額 463278 8155 471433
Provision 計提 574409 9818 584227
Disposal or retirement 外置或報廢 (89133) (248) (89381)
Exchange difference on 外幣報表折算差額
foreign currency translation 6843 95 6938
Closing balance 年末餘額 955397 17820 973217
Carrying amount 賬面價值
As at the end of the year 年末 3114270 23057 3137327
As at the beginning of the year 年初 1552297 20935 1573232Annual Report 2023二零二三年年報223
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
18. Intangible assets 18. 無形資產
31 December 2023 二零二三年十二月三十一日
Industrial
proprietary Non-
rights and patentable
Land use technology technologies Customer
rights know-how and software relations Total工業產權及非專利土地使用權專有技術技術及軟件客戶關係合計
Cost 原價
Opening balance 年初餘額 19766634 22272893 1608693 – 43648220
Acquisitions 購置 11262234 3056 805782 – 12071072
In-house R&D 內部研發 – 1484798 – – 1484798
Business combinations not involving 非同一控制下企業合併
entities under common control 3664 – 17359 4608955 4629978
Disposal 處置 – (418854) (19386) – (438240)
Exchange difference on foreign 外幣報表折算差額
currency translation 1966 421 302 – 2689
Closing balance 年末餘額 31034498 23342314 2412750 4608955 61398517
Accumulated amortisation 累計攤銷
Opening balance 年初餘額 1776782 17308702 952078 – 20037562
Provision for the year 本年計提 608873 3215093 350209 – 4174175
Decrease during the year 本年減少 – (416862) (19287) – (436149)
Exchange difference on foreign 外幣報表折算差額
currency translation (56) 2 253 – 199
Closing balance 年末餘額 2385599 20106935 1283253 – 23775787
Impairment provision 減值準備
Opening balance 年初餘額 – 387161 – – 387161
Provision for the year 本年計提 – – – – –
Decrease during the year 本年減少 – (692) – – (692)
Closing balance 年末餘額 – 386469 – – 386469
Carrying amount 賬面價值
As at the end of the year 年末 28648899 2848910 1129497 4608955 37236261
As at the beginning of the year 年初 17989852 4577030 656615 – 23223497224 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
18. Intangible assets (continued) 18. 無形資產（續）
31 December 2022 二零二二年十二月三十一日
Industrial
proprietary Non-
rights and patentable
Land use technology technologies
rights know-how and software Total工業產權及非專利土地使用權專有技術技術及軟件合計
Cost 原價
Opening balance 年初餘額 11122222 20098605 1165676 32386503
Acquisitions 購置 8635975 12797 482843 9131615
In-house R&D 內部研發 – 2168766 – 2168766
Disposal 處置 – (7682) (39828) (47510)
Exchange difference on foreign currency 外幣報表折算差額
translation 8437 407 2 8846
Closing balance 年末餘額 19766634 22272893 1608693 43648220
Accumulated amortisation 累計攤銷
Opening balance 年初餘額 1462151 12756648 767189 14985988
Provision for the year 本年計提 314671 4559735 224825 5099231
Decrease during the year 本年減少 – (7682) (39828) (47510)
Exchange difference on foreign currency 外幣報表折算差額
translation (40) 1 (108) (147)
Closing balance 年末餘額 1776782 17308702 952078 20037562
Impairment provision 減值準備
Opening balance 年初餘額 – 295573 – 295573
Provision for the year 本年計提 – 91588 – 91588
Closing balance 年末餘額 – 387161 – 387161
Carrying amount 賬面價值
As at the end of the year 年末 17989852 4577030 656615 23223497
As at the beginning of the year 年初 9660071 7046384 398487 17104942Annual Report 2023二零二三年年報225
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
18. Intangible assets (continued) 18. 無形資產（續）
As at 31 December 2023 intangible assets formed through 於二零二三年十二月三十一日，通過內部研in-house R&D accounted for 7.59% of the carrying amount of 發形成的無形資產佔無形資產期末賬面價值
intangible assets as at the end of the period. 的比例為7.59%。
As at 31 December 2023 the intangible assets wi th 於二零二三年十二月三十一日，未辦妥產權outstanding certificates of title are as follows： 證書的無形資產如下：
31 December Reasons for outstanding
Item 2023 certificates of title二零二三年項目十二月三十一日未辦妥產權證書的原因
Carrying
amount賬面價值
Land use rights 374881 In progress土地使用權正在辦理中
The Group conducted impairment tests on some intangible 本集團對歸屬於汽車、汽車相關產品及其他
assets allocated to the automobiles and related products and 產品分部的部分無形資產執行了減值測試，other products segment and concluded that the recoverable 按預計未來現金流量的現值確定的可收回金
amounts which were determined based on the present value 額高於資產組的賬面價值，因此本年度無需of expected future cash flows were higher than the carrying 進一步計提減值準備。
amounts of the asset group. Therefore no further impairment
provision was required for the year.226 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
19. Goodwill 19. 商譽
Increase Decrease
Opening during during Closing
balance the year the year balance年初餘額本年增加本年減少年末餘額
Business
combinations
not involving
entities under
common
control非同一控制下企業合併
BYD Auto Co. Ltd. 比亞迪汽車有限公司 63399 – – 63399
BYD Electric Buses & Trucks 比亞迪電動大巴&卡車
Hungary Co. Ltd. 匈牙利有限公司 4875 – – 4875
TATEBAYASHI MOULDING 館林模具株式會社
CO. LTD. 7311 – – 7311
Juno Newco (note) Juno Newc（o 註） – 4361657 – 4361657
755854361657–4437242
Impairment provision for 商譽減值準備
goodwill (9671) – (9671)
Total 合計 65914 4361657 – 4427571
Changes of impairment provision for goodwill are as follows: 商譽減值準備的變動如下：
Increase Decrease
Opening during during Closing
balance the year the year balance年初餘額本年增加本年減少年末餘額
BYD Auto Co. Ltd. 比亞迪汽車有限公司 4796 – – 4796
BYD Electric Buses & Trucks 比亞迪電動大巴&卡車
Hungary Co. Ltd. 匈牙利有限公司 4875 – – 4875
Total 合計 9671 – – 9671Annual Report 2023二零二三年年報227
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
19. Goodwill (continued) 19. 商譽（續）
Note: On 29 December 2023 the Group completed the 註： 二零二三年十二月二十九日，本集團完acquisition of the 100% equity interests in Juno Singapore 成收購Juno Singapore Target Newco
Target Newco Target Holdco Singapore Pte. Ltd and its Target Holdco Singapore Pte. Ltd及其
subsidiaries (“Juno Newco”) which acquired goodwill 子公司的100%股權（「Juno Newco」），of RMB4361657000. For details please refer to note 形成商譽人民幣4361657千元。詳見VII. “Business combinations not involving entities under 附註七、非同一控制下企業合併。common control”.Relevant information of the CGU or the CGU group to 商譽所在資產組或資產組組合的相關信
which goodwill belongs is set out below: 息如下：
Whether
Composition and basis of the CGU or consistent with
the CGU group Business segment and basis previous year所屬資產組或資產組是否與以前組合的構成及依據所屬經營分部及依據年度保持一致
Juno Newco The mobility business which manufactures precision The asset group is allocated to N/A
structural components for mobile intelligent the mobile handset components
terminals the cash inflows from which are assembly service and other
basically independent of those from other assets products segment based on
or asset groups its principal business and the
management planning of the Group
Juno Newco 移動智能終端精密結構件的移動電子製造業務，產生 基於其主營業務及集團管理 不適用的現金流入基本上獨立於其他資產或者資產組產生規劃，該資產組歸屬於手機的現金流入部件、組裝機其他產品分部
The recoverable amount is determined by the present value of 可收回金額按預計未來現金流量的現值確定
expected future cash flows: 的：
Term of
estimate/
Carrying Recoverable forecast Key parameters of estimate/ Key parameters of Basis for determination of key
amount amount Impairment period forecast period stable period parameters of stable period
預算╱
賬面價值可收回金額減值金額預測期的年限預算╱預測期的關鍵參數穩定期的關鍵參數穩定期的關鍵參數的確定依據
Juno Newco 14436338 15366296 – 5 The recoverable amount is Forecast period growth rate of Estimated cash flow is based on
determined using the present 2.40%~5.01% the 5-year cash flow projection
value of the future cash flows Discount rate of 11.95% approved by the management of
Terminal growth rate of 2.3% the Company
Juno Newco 可回收金額按照未來現金流量的 預測期增長率2.40%~5.01% 預計現金流量根據經公司管理層
現值計算 折現率11.95%永續增長率2.3% 審批的5年現金流量預測為基礎228 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
19. Goodwill (continued) 19. 商譽（續）
Other Goodwill acquired as a result of corporate merger has 企業合併取得的其他商譽已經分配至下列資
been allocated to the following asset groups for the purpose of 產組以進行減值測試：
impairment testing:
As the synergistic benefits of the acquisitions of BYD Auto Co. 由於比亞迪汽車有限公司、比亞迪電動大巴
Ltd. BYD Electric Buses & Trucks Hungary Co. Ltd. (比亞迪電 &卡車匈牙利有限公司、館林模具株式會社
動大巴&卡車匈牙利有限公司) and TATEBAYASHI MOULDING 收購的協同效應受益對象是整個汽車及相關
CO. LTD. (館林模具株式會社) are for the entire automobile 產品分部，且難以分攤至各資產組，所以將and related products segment and are difficult to apportion to 商譽分攤至汽車及相關產品資產組，該資產each asset group so goodwill is apportioned to the automobile 組構成與以前年度保持一致。汽車及相關產and related products asset group and the composition of 品資產組商譽的賬面金額為人民幣65914千
the asset group remains consistent with that in previous 元（二零二二年：人民幣65914千元）。可收years. The carrying amount of goodwill of the automobile 回金額採用資產組組合的預計未來現金流量
and related products asset group is RMB65914000 (2022: 的現值，根據管理層批准的5年期的財務預RMB65914000). The recoverable amount is determined 算基礎上的現金流量預測來確定。該期間內using the present value of the estimated future cash flows of 現金流量的增長率均為4%。現金流量預測所the asset group mix based on cash flow projections based 用的折現率是13%(二零二二年：13%)，用on the financial budget approved by management for a five- 於推斷5年以後的汽車及相關產品的穩定期
year period. The growth rate of cash flows over the period is 現金流量的增長率是3%(二零二二年：3%)。
4%. The discount rate used for the cash flow projections is 該增長率低於汽車行業長期平均增長率。
13% (2022: 13%) and the growth rate used to extrapolate the
steady-period cash flows for automobiles and related products
beyond the five-year period is 3% (2022: 3%). Such growth
rate is lower than the long-term average growth rate for the
automotive industry.The following il lustrates the key assumptions made by 以下說明瞭管理層為進行商譽減值測試，在management in determining the cash flow projections for the 確定現金流量預測時作出的關鍵假設：
purpose of impairment testing of goodwill:
Revenue growth rate – Management determined the revenue 收入增長率 – 管理層根據歷史經驗及對市
growth rate for the five-year detailed forecast period based on 場發展的預測確定五年詳細預測期收入增長
historical experience and projections of market developments. 率。
Budgeted gross margins – The basis of determination is based 預算毛利率 – 確定基礎是在預算年度前一年
on the average gross margins achieved in the year prior to 實現的平均毛利率基礎上，根據預計效率的the budget year with an appropriate increase in that average 提高及預計市場開發情況適當提高該平均毛
gross margins based on expected efficiency improvements 利率。
and expected market development.Discount rate – The discount rate used is a pre-tax discount 折現率 – 採用的折現率是反映相關資產組特
rate that reflects specific risks of the relevant asset groups. 定風險的稅前折現率。
The amounts allocated to the key assumptions for the above 分配至上述資產組的關鍵假設的金額與本集
asset groups are consistent with the Group’s historical 團歷史經驗及外部信息一致。
experience and external information.Annual Report 2023二零二三年年報229
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
20. Long-term deferred expenditures 20. 長期待攤費用
Business
combinations
not involving
Increase entities under
Opening during Amortisation Other common control Closing
balance the year for the year reduction of subsidiaries balance非同一控制下年初餘額本年增加本年攤銷其他減少企業合併年末餘額
Improvement costs of right- 使用權資產的改良
of-use assets 支出 458108 1404321 (270147) (14377) 2484624 4062529
21. Deferred tax assets/liabilities 21. 遞延所得稅資產╱負債
Deferred tax assets and deferred tax liabilities which are not 未經抵銷的遞延所得稅資產和遞延所得稅負
offset: 債：
20232022
二零二三年二零二二年
Deductible Deductible
temporary Deferred temporary Deferred
differences tax assets differences tax assets可抵扣遞延可抵扣遞延暫時性差異所得稅資產暫時性差異所得稅資產
Deferred tax assets 遞延所得稅資產
Impairment provision 減值準備 4710969 731296 2448189 363333
Depreciation of fixed assets and 固定資產折舊、無形資產攤銷
amortisation of intangible assets 14665192 2455294 8238693 1301145
Lease liabilities 租賃負債 10341223 2291609 3311335 767476
Accruals and provisions 預提費用和預計負債 26767001 4582623 12082266 2021083
Deferred income 遞延收益 1943028 332343 1058152 155276
Deductible tax losses 可抵扣虧損 5314928 930754 8458435 1380958
Unrealised gains from intra-group 來自集團內交易的未實現盈利
transactions 9352061 1485358 5431428 860411
Share-based payments 股份支付 766968 116574 – –
Others 其他 69158 7272 33673 4714
Total 合計 73930528 12933123 41062171 6854396230 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
21. Deferred tax assets/liabilities (continued) 21. 遞延所得稅資產╱負債（續）
20232022
二零二三年二零二二年
Taxable Taxable
temporary Deferred temporary Deferred
differences tax liabilities differences tax liabilities應納稅遞延應納稅遞延暫時性差異所得稅負債暫時性差異所得稅負債
Deferred tax liabilities 遞延所得稅負債
Other equity instrument investments 其他權益工具投資 1329878 331913 1111469 277868
Depreciation of fixed assets 固定資產折舊 34255562 6641157 22082761 4068430
Right-of-use assets 使用權資產 9678956 2274947 3137327 745911
Financial assets at fair value through 公允價值變動計入當期損益的
profit or loss 金融資產 688770 149240 419518 62928
Appreciation in asset value arising from 非同一控制下企業合併引起
business combinations not involving 的資產增值
entities under common control 4656579 767621 – –
Dividend distribution 股利分配 1216622 121662 185430 18543
Others 其他 84775 12997 82276 12341
5191114210299537270187815186021
The net amount of deferred tax assets and deferred tax 遞延所得稅資產和遞延所得稅負債以抵銷後
liabilities after set-off: 的淨額列示：
20232022
二零二三年二零二二年
Amount of Balance Amount of Balance
set-off after set-off set-off after set-off抵銷金額抵銷後餘額抵銷金額抵銷後餘額
Deferred tax assets 遞延所得稅資產 6348701 6584422 3167491 3686905
Deferred tax liabilities 遞延所得稅負債 6348701 3950836 3167491 2018530Annual Report 2023二零二三年年報231
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
21. Deferred tax assets/liabilities (continued) 21. 遞延所得稅資產╱負債（續）
Deductible temporary differences and deductible tax losses for 未確認遞延所得稅資產的可抵扣暫時性差異
which deferred tax assets have not been recognised: 和可抵扣虧損如下：
20232022
二零二三年二零二二年
Deductible temporary differences 可抵扣暫時性差異 23444590 12272767
Deductible tax losses 可抵扣虧損 21003128 8406914
4444771820679681
Deductible tax losses for which deferred tax assets have not 未確認遞延所得稅資產的可抵扣虧損將於以
been recognised are to expire in the following years: 下年度到期：
20232022
二零二三年二零二二年
2023二零二三年–691920
2024二零二四年5323751622151
2025二零二五年662170862859
2026二零二六年4306591350526
2027 and afterwards 二零二七年及以後 19377924 3879458
21003128 8406914232 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
21. Deferred tax assets/liabilities (continued) 21. 遞延所得稅資產╱負債（續）
The Group does not recognise deferred tax assets for the 由於產生上述虧損的相關公司預計在未來盈
above tax losses as it is not probable that the relevant 利的可能性較低，不存在可足以抵扣虧損的companies generating the above losses will be profitable in the 盈利，本集團並未對上述稅務虧損確認遞延future and there are no gains sufficient to offset the losses. 所得稅資產。
The Group recognises deferred tax assets arising from 本集團以未來期間很可能取得的用以抵扣可
deductible temporary differences to the extent that it is 抵扣暫時性差異和可抵扣虧損的應納稅所得
probable that taxable income will be available against which 額為限，按照預期收回該資產或清償該負債deductible temporary differences and deductible tax losses 期間的適用稅率，計算確認由可抵扣暫時性can be utilized in future periods calculated at the tax rates 差異產生的遞延所得稅資產。
applicable to the periods during which the assets are expected
to be recovered or the liabilities are expected to be settled.According to the provisions of the Enterprise Income Tax 根據《中華人民共和國企業所得稅法》及其
Law of the People’s Republic of China and its implementation 實施條例的規定，二零零八年一月一日起，regulations dividends received by foreign investors from 境外投資者從中國大陸成立的外商投資企業
foreign-invested enterprises established in Mainland China will 獲得的股息將按照10%的稅率徵收預提所得
be subject to withholding income tax at a rate of 10% from 1 稅。該規定適用於自二零零八年一月一日起January 2008. The provision applies to profits received from 1 取得的利潤。倘若中國與該境外投資者的司January 2008 onwards. A lower rate of withholding income tax 法管轄區簽訂了稅收協定，則可能採用較低may be applied if a tax treaty is in place between the PRC and 預提所得稅稅率。本集團須就中國大陸成立the jurisdiction of such foreign investor. The Group is subject 的某些子公司自二零零八年一月一日起產生
to withholding income tax on dividends paid on profits derived 的利潤而派發的股息預提所得稅。
from certain subsidiaries established in Mainland China from 1
January 2008.As at 31 December 2023 the Group has recognised 於二零二三年十二月三十一日，本集團就預RMB121662000 o f de fe r red t ax l i ab i l i t i es (2022: 計若干附屬公司於可預見未來將匯出的盈利
RMB18543000) in respect of the earning expected to be 確認相關的遞延所得稅負債人民幣121662
remitted by certain subsidiaries in the foreseeable future. 千元（二零二二年：人民幣18543千元）。根Based on a number of factors including the management’s 據包括管理層對境外資金需求估計在內的多
estimation of the need for funds outside the PRC the Group 項因素，本集團並無就預期由中國附屬公司has not provided for withholding income tax in respect of 保留且不會於可預見未來匯給境外投資者的
earnings that were expected to be retained by the PRC 盈利撥備預提所得稅。
subsidiaries and would not be remitted to foreign investors in
the foreseeable future.Annual Report 2023二零二三年年報233
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
22. Other non-current assets 22. 其他非流動資產
20232022
二零二三年二零二二年
Provision Provision
Book for Carrying Book for Carrying
balance impairment amount balance impairment amount賬面餘額減值準備賬面價值賬面餘額減值準備賬面價值
Guarantee deposits 應收保證金
receivable 179639 – 179639 355369 – 355369
Prepayments for intangible 預付無形資產款
assets 563166 – 563166 1887786 – 1887786
Prepayments for engineering 預付工程設備款
equipment 13325756 – 13325756 18434290 – 18434290
Others 其他 1205339 – 1205339 367871 – 367871
Total 合計 15273900 – 15273900 21045316 – 21045316
23. Assets with restrictive ownership title or right of use 23. 所有權或使用權受到限制的資產
2023二零二三年
Book Carrying Restricted
balance amount Types Restrictions賬面餘額賬面價值受限類型受限情況
Monetary funds 貨幣資金 124124 124124 Deposit and Restricted
special 使用受限
account保證金及專款專戶
Other non-current assets 其他非流動資產 816417 816417 Restricted Restricted
statutory 使用受限
deposits
and interests存出資本保證金及利息
Total 合計 940541 940541234 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
23. Assets with restrictive ownership title or right of use 23. 所有權或使用權受到限制的資產（續）
(continued)
Note: Statutory deposits for insurance operations are placed 註： 根 據《保險法》等有關規定，本集團從事with PRC national commercial banks in accordance with 保險業務的子公司按其註冊資本的20%
the Insurance Law and relevant regulations issued by 提取資本保證金，存放於符合監管機構regulatory authorities based on 20% of the registered 規定條件的全國性中資商業銀行。資本capital for subsidiaries engaged in insurance business 保證金僅當保險公司清算時用於清償債
within the Group. Statutory deposits for insurance 務。
operations can only be utilized to settle liabilities during
liquidation of insurance companies.
2022二零二二年
Book Carrying Restricted
balance amount Types Restrictions賬面餘額賬面價值受限類型受限情況
Monetary funds 貨幣資金 167171 167171 Deposit and Restricted
special 使用受限
account保證金及專款專戶
Endorsed bills receivables 已背書的應收票據 5905 5895 Transferred Restricted
but not 使用受限
derecognised
in its entirety已轉移但未整體終止確認
Total 合計 173076 173066Annual Report 2023二零二三年年報235
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
24. Short-term borrowings 24. 短期借款
20232022
二零二三年二零二二年
Credit borrowings 信用借款 18323216 5153098
As at 31 December 2023 and 31 December 2022 the Group 於二零二三年十二月三十一日及二零二二年
had no short-term borrowings that were due but outstanding. 十二月三十一日，本集團無已到期但尚未償還的短期借款。
25. Financial liabilities held for trading 25. 交易性金融負債
20232022
二零二三年二零二二年
Financial liabilities at fair value through profit 以公允價值計量且其變動計入
or loss 當期損益的金融負債
Derivative financial liabilities 衍生金融負債 7713 54605
26. Bills payables 26. 應付票據
20232022
二零二三年二零二二年
Commercial acceptance bills 商業承兌匯票 3555967 2724260
Bank acceptance bills 銀行承兌匯票 497347 604159
40533143328419
As at 31 December 2023 the outstanding balance of bills 於二零二三年十二月三十一日，由於持票人payables due of the Group was RMB27119000 due to the fact 未發起到期託收，本集團尚有餘額為人民幣that the bearer did not make collection at maturity. 27119千元的應付票據到期未付。236 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
27. Trade payables 27. 應付賬款
20232022
二零二三年二零二二年
Within one year 1年以內 193266994 139585845
1 to 2 year 1年至2年 551922 387596
2 to 3 year 2年至3年 264242 136435
Over 3 years 3年以上 346659 327434
194429817140437310
Trade payables are non-interest-bearing and are normally 應付賬款不計息，並通常在一年以內清償。
settled within one year. The aging of trade payables is based 應付賬款的賬齡是以購買材料、商品或接受
on the time of recognising the purchase of materials and 勞務等確認的時間為基準。
goods or accepting services.As at 31 December 2023 and 31 December 2022 the Group 於二零二三年十二月三十一日及二零二二年
had no significant trade payables that were aged over one 十二月三十一日，本集團無賬齡超過1年或year or overdue. 逾期的重要應付賬款。Annual Report 2023二零二三年年報237
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
28. Contract liabilities 28. 合同負債
20232022
二零二三年二零二二年
Advance receipts from the sale of housing 預收購房款（附註五、9）
(Note V. 9) 629252 785428
Advance receipts from goods 預收貨款 34069258 34731143
3469851035516571
As at 31 December 2023 and 31 December 2022 the Group 於二零二三年十二月三十一日及二零二二年
had no significant contract liabilities aged over one year. 十二月三十一日，本集團無賬齡超過一年的重要合同負債。
Contract liabilities refer to the obligation to transfer goods to 合同負債，是指企業已收或應收客戶對價而customers in consideration of payments received or receivable 應向客戶轉讓商品的義務。合同中約定的付from customers. Contract liabilities are incurred when the 款進度早於履約義務的履行則會出現合同負
payment schedule agreed under the contract is ahead of the 債。
performance of contract obligations.238 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
29. Employee benefits payables 29. 應付職工薪酬
Increase Decrease
Opening during during Closing
balance the year the year balance年初餘額本年增加本年減少年末餘額
Short-term remuneration 短期薪酬 11991689 82179617 (77037873) 17133433
Retirement benefits 離職後福利（設定提存計劃）
(Defined contribution scheme) 45322 8028210 (8068129) 5403
Termination benefits 辭退福利 – 67392 (67392) –
Total 合計 12037011 90275219 (85173394) 17138836
Short-term remuneration is as follows: 短期薪酬如下：
Increase Decrease
Opening during during Closing
balance the year the year balance年初餘額本年增加本年減少年末餘額
Salary bonus allowance and subsidy 工資、獎金、津貼和補貼 8989730 72164944 (68432297) 12722377
Staff welfare 職工福利費 1220 1221210 (1163098) 59332
Labor dispatch fee 勞務派遣費 528599 1023823 (1187333) 365089
Social insurance 社會保險費 4902 3412011 (3413260) 3653
Including: Medical 其中：醫療保險費 563 2893367 (2893022) 908
Work injuries 工傷保險費 2028 313926 (315616) 338
Maternity 生育保險費 24 111917 (111888) 53
Others 其他 2287 92801 (92734) 2354
Housing fund 住房公積金 1470 1877015 (1841478) 37007
Labour union fund and employee 工會經費和職工教育經費
education fund 2465768 2480614 (1000407) 3945975
Total 合計 11991689 82179617 (77037873) 17133433Annual Report 2023二零二三年年報239
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
29. Employee benefits payables (continued) 29. 應付職工薪酬（續）
Defined contribution schemes are as follows: 設定提存計劃如下：
Increase Decrease
Opening during during Closing
balance the year the year balance年初餘額本年增加本年減少年末餘額
Basic pension premium 基本養老保險費 44064 7777621 (7816383) 5302
Unemployment insurance premium 失業保險費 1258 250589 (251746) 101
Total 合計 45322 8028210 (8068129) 5403
The Group makes contributions towards defined contribution 本集團的設定提存計劃是按照當地政府政策
schemes based on a certain percentage of employees’ salaries 和法規要求，以員工工資為繳費基數，按一in accordance with the requirements of local government 定比例計提和繳納。
policies and regulations.
30. Tax payables 30. 應交稅費
20232022
二零二三年二零二二年
Enterprise income tax 企業所得稅 4760644 2096608
Value-added tax 增值稅 1295168 823819
Consumption tax 消費稅 560257 570938
Housing property tax 房產稅 132611 47749
Individual income tax 個人所得稅 285436 155584
Others 其他 818208 631696
78523244326394
Please refer to Note Ⅳ Taxation for the basis and tax rates for 應交各項稅金繳納基礎及稅率參見附註四、
the payment of various tax payables. 稅項。
31. Other payables 31. 其他應付款
20232022
二零二三年二零二二年
Other external current accounts 外部往來款 163606487 120723072
Guarantee deposits 保證金 1149822 1183518
Medical fund 醫療基金 216540 217251
164972849 122123841240 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
32. Provisions 32. 預計負債
20232022
After-sales service fee 售後服務費 二零二三年 二零二二年
Opening balance 年初餘額 7552861 2355564
Increase during the year 本年增加 9840595 7076298
Decrease during the year 本年減少 (2802746) (1879001)
145907107552861
Including: Current portion 其中：流動部分 2620325 1287452
Non-current portion (note V. 38) 非流動部分（附註五、38） 11970385 6265409
The Group undertakes to repair or replace the product 本集團對汽車以及其他提供保修的產品承諾
components that fail to perform satisfactorily for automobiles 維修或更換運行不良的產品部件。預計負債and other products with warranty. Provisions are the estimated 為基於銷售量以及過往維修程度及退換記錄
amount of warranties based on sales volume as well as the 而作出的保用金額預計。本集團持續對保用past maintenance level and return and replacement records. 金額而產生的預計負債的估計標準進行覆
The Group reviews the basis for estimating its provisions 核，並在必要時進行調整。
arising from the amount of warranties on an ongoing basis and
revises the same when necessary.
33. Non-current liabilities due within one year 33. 一年內到期的非流動負債
20232022
二零二三年二零二二年
Long-term borrowings due within one year 一年內到期的長期借款（附註五、35）
(Note V. 35) 6246454 3723482
Bond payables due within one year 一年內到期的應付債券（附註五、36）
(Note V. 36) – 2047285
Lease liabilities due within one year 一年內到期的租賃負債（附註五、37）
(Note V. 37) 1494037 694061
7740491 6464828Annual Report 2023
二零二三年年報241
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
34. Other current liabilities 34. 其他流動負債
20232022
二零二三年二零二二年
Taxes to be written off 待轉銷項稅 1621505 2609127
Others 其他 207771 5905
18292762615032
35. Long-term borrowings 35. 長期借款
20232022
二零二三年二零二二年
Bank credit borrowings 銀行信用借款 18221593 11317078
1822159311317078
Less: Long-term borrowings due within one year 減：一年內到期的長期借款 6246454 3723482
119751397593596
As at 31 December 2023 the annual interest rate of the above 於二零二三年十二月三十一日，上述借款的borrowings ranged from 2.05%–2.98% (31 December 2022: 年利率為2.05%-2.98%（ 二零二二年十二月
2.10%-2.80%).三十一日：2.10%-2.80%）。
As at 31 December 2023 and 31 December 2022 the Group 於二零二三年十二月三十一日及二零二二年
has no long-term borrowings matured but not yet repaid. 十二月三十一日，本集團無已到期但尚未償還的長期借款。242 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
35. Long-term borrowings (continued) 35. 長期借款（續）
#Aging profile of long-/short-term bank borrowings #長╱短期銀行借款賬齡
20232022
二零二三年二零二二年
Listed as: 列示為：
Bank loan repayables 應償付的銀行貸款
In one year 一年之內 24569670 8876580
In the second year 第二年內 5885936 4594707
In the third to fifth years inclusive 第三至第五年內，包括首尾兩年 6089203 2998889
3654480916470176
Bond payables 應付債券
In one year 一年之內 – 2047285
In the second to fifth years inclusive 第二至第五年內，包括首尾兩年 – ––2047285
3654480918517461
36. Bonds payable 36. 應付債券
20232022
二零二三年二零二二年
Bonds payable 應付債券 – 2047285
Less: Bond payable due within one year 減：一年內到期的應付債券 – 2047285
––
As at 31 December 2023 and 31 December 2022 the Group 於二零二三年十二月三十一日及二零二二年
didn’t have any bonds past due. 十二月三十一日，本集團無逾期的債券。Annual Report 2023二零二三年年報243
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
37. Lease liabilities 37. 租賃負債
20232022
二零二三年二零二二年
Opening balance 年初餘額 3311335 1663719
Addition for the year 本年新增 7146732 2186086
Business combinations not involving entities 非同一控制下企業合併
under common control 1086356 –
Disposal for the year 本年處置 (205299) (54608)
Interest expenses 利息費用 282733 169607
Payment for the year 本年支付 (1280634) (653469)
Closing balance 年末餘額 10341223 3311335
Less: Lease liabilities due within one year 減：一年以內到期的租賃負債
(Note V.33) （附註五、33） 1494037 694061
88471862617274
38. Other non-current liabilities 38. 其他非流動負債
20232022
二零二三年二零二二年
Deferred income 遞延收益 25890036 17473112
Provisions (Note V. 32) 預計負債（附註五、32） 11970385 6265409
Other external current accounts 外部往來款 9477880 –
Repurchase right on Shareholders’ investment 股東投資回購權（註1）
(Note 1) 3245440 3079533
Long-term financial guarantee contracts 長期財務擔保合同（附註十四、2）
(Note XIV 2) 61984 78794
5064572526896848
Note 1： On 26 May 2020 BYD held the 38th Meeting of the 註1： 二零二零年五月二十六日，比亞迪召開Sixth Session of the Board and the “Resolution on the 第六屆董事會第三十八次會議，審議通Introduction of Strategic Investors by the Controlled 過了《關於控股子公司引入戰略投資者Subsidiary” was considered and approved. It agreed 的議案》，同意本公司及本集團之子公that the Company and BYD Semiconductor a 司比亞迪半導體與第三方投資者簽署
subsidiary of the Group entered into the Shareholders’ 《股東協議》。協議約定在一定條件下，Agreement with other investors. Pursuant to the 比亞迪需承擔以固定金額回購策略投資
above agreement the Company shall repurchase the 者對比亞迪半導體所投資股權的義務。
equity interests of BYD Semiconductor held by these 截至二零二三年十二月三十一日，該義strategic investors at a fixed amount under some 務的現值金額為人民幣3245440千元
specific agreed circumstances. As at 31 December (二零二二年十二月三十一日：人民幣
2023 the present value of such repurchase obligation 3079533千元）。
was RMB3245440000 (31 December 2022:
RMB3079533000).244 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
38. Other non-current liabilities (continued) 38. 其他非流動負債（續）
Deferred income 遞延收益
Balance as Balance
at the Addition Decrease as at the
beginning of during during end of
the year the year the year the year年初餘額本年增加本年減少年末餘額
Automobiles and automobiles related 17138826 11442483 (3223663) 25357646汽車及汽車相關
Mobile handset related 231377 124837 (65260) 290954手機相關
Industrial support fund 890 94610 (10780) 84720產業扶持資金
R&D-related subsidies 75154 92044 (151071) 16127研發相關補貼
Staff-related subsidies 438 109728 (107759) 2407員工相關補貼
Others 26427 1174055 (1062300) 138182其他
Total 17473112 13037757 (4620833) 25890036合計
39. Share capital 39. 股本
20232022
二零二三年二零二二年
Registered and paid-in capital 註冊及實收股本 2911143 2911143
There was no change in the registered and paid-in capital of 本年註冊及實收股本未發生變動。
the Company.The shares of the Company have a par value of RMB1 per 本公司每股面值人民幣1元。
share.Annual Report 2023二零二三年年報245
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
40. Capital reserve 40. 資本公積
Increase Decrease
Opening during during Closing
balance the year the year balance年初餘額本年增加本年減少年末餘額
Share premium 股本溢價 60309285 13709 – 60322994
Others 其他 1396608 878857 (556685) 1718780
Total 合計 61705893 892566 (556685) 62041774
In 2023 the increase in the Group’s capital reserve was mainly 二零二三年本集團資本公積增加主要是由於
due to the provision for share-based payment expenses and 計提股份支付費用，資本公積 – 其他的減少the decrease in capital reserve - others and the increase in 和資本公積 – 股本溢價的增加主要是由於限
capital reserve - share premium were mainly due to the vesting 制性股票解鎖，將與解鎖限制性股票有關的of restricted shares which transferred the treasury shares 庫存股及資本公積 – 其他結轉至股本溢價。
and capital reserve - other related to the vesting of restricted 詳見附註十三。
shares to share premium. For details please refer to note XIII.
41. Treasury shares 41. 庫存股
Increase Decrease
Opening during during Closing
balance the year the year balance年初餘額本年增加本年減少年末餘額
Repurchase by equity incentive 實行股權激勵回購 1809920 – (542976) 1266944
The decrease in treasury shares was due to the vesting of 庫存股本期減少為本期限制性股票解鎖所
restricted shares during the period. 致。246 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
42. Other comprehensive income 42. 其他綜合收益
The balance of other comprehensive income attributable to the 資產負債表中歸屬於母公司的其他綜合收益
parent company in the balance sheet: 餘額：
2023二零二三年
1 January Increase/ 31 December
2023 decrease 2023
二零二三年二零二三年十二月一月一日增減變動三十一日
Changes in fair value of other equity 其他權益工具投資公允價值變動
instrument investments 861367 166849 1028216
Changes in fair value of receivables 應收款項融資公允價值變動
financing (69924) 38479 (31445)
Provision for credit impairment of 應收款項融資信用減值準備
receivables financing 10453 (10453) –
Exchange difference on foreign currency 外幣報表折算差額
translation (373564) (19544) (393108)
428332175331603663
2022二零二二年
1 January Increase/ 31 December
2022 decrease 2022
二零二二年二零二二年十二月一月一日增減變動三十一日
Changes in fair value of other equity instrument 其他權益工具投資公允價值變動
investments 213300 648067 861367
Changes in fair value of receivables financing 應收款項融資公允價值變動 (39271) (30653) (69924)
Provision for credit impairment of receivables 應收款項融資信用減值準備
financing 7990 2463 10453
Exchange difference on foreign currency 外幣報表折算差額
translation (306074) (67490) (373564)
(124055) 552387 428332Annual Report 2023二零二三年年報247
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
42. Other comprehensive income (continued) 42. 其他綜合收益（續）
Amount of other comprehensive income: 其他綜合收益發生額：
2023二零二三年
Attributable
to
shareholders Attributable
Pretax Income of the parent to the
amount tax company minority歸屬於歸屬於稅前發生額所得稅母公司股東少數股東
Other comprehensive income that 不能重分類進損益的其他
cannot be reclassified to profit or 綜合收益
loss
Changes in fair value of other 其他權益工具投資
equity instrument investments 公允價值變動 220896 (54047) 166849 –
Other comprehensive income that 將重分類進損益的其他綜合
will be reclassified to profit or loss 收益
Changes in fair value of 應收款項融資公允價值
receivables financing 變動 38479 – 38479 –
Provision for credit impairment of 應收款項融資信用減值
receivables financing 準備 (10453) – (10453) –
Exchange difference on foreign 外幣報表折算差額
currency translation (10847) – (19544) 8697
238075 (54047) 175331 8697248 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
42. Other comprehensive income (continued) 42. 其他綜合收益（續）
2022二零二二年
Attributable
to shareholders Attributable
Pretax Income of the parent to the
amount tax company minority歸屬於歸屬於稅前發生額所得稅母公司股東少數股東
Other comprehensive income that cannot 不能重分類進損益的其他
be reclassified to profit or loss 綜合收益
Changes in fair value of other equity 其他權益工具投資公允價值
instrument investments 變動 852068 (204001) 648067 –
Other comprehensive income that will be 將重分類進損益的其他綜合
reclassified to profit or loss 收益
Changes in fair value of receivables 應收款項融資公允價值變動
financing (30653) – (30653) –
Provision for credit impairment of 應收款項融資信用減值準備
receivables financing 2463 – 2463 –
Exchange difference on foreign 外幣報表折算差額
currency translation (73647) – (67490) (6157)
750231 (204001) 552387 (6157)Annual Report 2023
二零二三年年報249
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
43. Surplus reserve 43. 盈餘公積
Increase Decrease
Opening during during Closing
balance the year the year balance年初餘額本年增加本年減少年末餘額
Statutory surplus reserve 法定盈餘公積 6838541 535546 – 7374087
6838541535546--7374087
In accordance with the Company Law and the Articles of 根據公司法、本公司章程的規定，本公司按Association the Company is required to allocate 10% of its net 淨利潤的10%提取法定盈餘公積金，法定盈profit to the statutory surplus reserve until the accumulated 餘公積金累計額為本公司註冊資本50%以上
statutory surplus reserve has reached 50% of the registered 的，可以不再提取。
capital of the Company.The Company may further allocate to the discretionary surplus 本公司在提取法定盈餘公積金後，可提取任reserve after the statutory surplus reserves allocation. The 意公積金。經批准，任意公積金可用於彌補discretionary surplus reserve can be utilised to offset prior 以前年度虧損或增加股本。
year’s losses or to increase share capital upon approval.
44. Retained profits 44. 未分配利潤
20232022
二零二三年二零二二年
Retained profits at the beginning of the year 年初未分配利潤 40943232 26455907
Net profit attributable to shareholders of the 本年歸屬於母公司股東的淨利潤
parent for the year 30040811 16622448
Less: Appropriation to statutory surplus reserve 減：提取法定盈餘公積 535546 1829453
Cash dividend payable for ordinary 支付普通股現金股利
shares 3324525 305670
Retained profits at the end of the year 年末未分配利潤 67123972 40943232250 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
45. Operating revenue and operating costs 45. 營業收入和營業成本
20232022
二零二三年二零二二年
Revenue Cost Revenue Cost收入成本收入成本
Revenue from principal operations 主營業務收入 590468270 471355849 414781240 344840310
Other operating revenue 其他業務收入 11847084 9202501 9279395 6975370
602315354480558350424060635351815680
Disaggregation of operating revenue is as follows: 營業收入列示如下：
20232022
二零二三年二零二二年
Revenue from contracts with customers 與客戶之間合同產生的收入
Sale of goods and construction services 銷售商品及建造服務 597862811 421658484
Rendering of services 提供服務 4222649 2149657
602085460423808141
Rental income 租賃收入 229894 252494
Total 合計 602315354 424060635Annual Report 2023二零二三年年報251
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
45. Operating revenue and operating costs (continued) 45. 營業收入和營業成本（續）
Disaggregation of operating revenue from contracts with 與客戶之間合同產生的營業收入分解信息如
customers is as follows: 下：
2023二零二三年
Mobile
handset
components Automobiles
assembly and related
service products
and other and other
products products Others Total
手機部件、汽車、汽車組裝及相關產品及
Reportable segments 報告分部 其他產品 其他產品 其他 合計
Product types 產品類型
Sales of goods and construction services 銷售商品及建造服務 118494950 479084107 283754 597862811
Rendering of services 提供服務 43782 4178867 – 4222649
118538732483262974283754602085460
Place of operation 經營地區
PRC (including Hong Kong Macau and 中國（包括港澳台地區）
Taiwan) 30816853 410831456 283754 441932063
Overseas 境外 87721879 72431518 – 160153397
118538732483262974283754602085460
Timing of goods transfer 商品轉讓的時間
At a point in time 在某一時點轉讓 118528137 480597109 283754 599409000
Over time 在某一時段內轉讓 10595 2665865 – 2676460
118538732 483262974 283754 602085460252 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
45. Operating revenue and operating costs (continued) 45. 營業收入和營業成本（續）
Disaggregation of operating revenue from contracts with 與客戶之間合同產生的營業收入分解信息如
customers is as follows: 下：
2022二零二二年
Mobile
handset
components Automobiles
assembly and related
service products
and other and other
products products Others Total
手機部件、汽車、汽車組裝及相關產品及
Reportable segments 報告分部 其他產品 其他產品 其他 合計
Product types 產品類型
Sales of goods and construction services 銷售商品及建造服務 98671191 322438197 549096 421658484
Rendering of services 提供服務 107996 2041661 – 2149657
98779187324479858549096423808141
Place of operation 經營地區
PRC (including Hong Kong Macau and 中國（包括港澳台地區）
Taiwan) 32570786 299292589 549096 332412471
Overseas 境外 66208401 25187269 – 91395670
98779187324479858549096423808141
Timing of goods transfer 商品轉讓的時間
At a point in time 在某一時點轉讓 98709170 321801753 549096 421060019
Over time 在某一時段內轉讓 70017 2678105 – 2748122
98779187 324479858 549096 423808141Annual Report 2023
二零二三年年報253
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
45. Operating revenue and operating costs (continued) 45. 營業收入和營業成本（續）
Disaggregation of operating costs from contracts with 本年度與客戶之間合同產生的營業成本分解
customers during the year is as follows: 信息如下：
Mobile
handset
components Automobiles
assembly and related
service products
and other and other
products products Others Total
手機部件、汽車、汽車組裝及相關產品及
Reportable segments 報告分部 其他產品 其他產品 其他 合計
Product types 產品類型
Sales of goods and construction services 銷售商品及建造服務 108101453 370753316 236213 479090982
Rendering of services 提供服務 27389 1272233 – 1299622
108128842372025549236213480390604
Place of operation 經營地區
PRC (including Hong Kong Macau and 中國（包括港澳台地區）
Taiwan) 24666812 306705958 236213 331608983
Overseas 境外 83462030 65319591 – 148781621
108128842372025549236213480390604
Timing of goods transfer 商品轉讓的時間
At a point in time 在某一時點轉讓 108121155 370243565 236213 478600933
Over time 在某一時段內轉讓 7687 1781984 – 1789671
108128842 372025549 236213 480390604254 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
45. Operating revenue and operating costs (continued) 45. 營業收入和營業成本（續）
Revenue included in the opening carrying amount of contract 當年確認的包括在合同負債年初賬面價值中
liabilities recognised for the year is set out as follows: 的收入如下：
20232022
二零二三年二零二二年
Sales of goods 銷售商品 32675245 12543364
3267524512543364
Information about the Group’s performance obligations is 本集團與履約義務相關的信息如下：
summarised below:
Type of
Time of fulfilling Important Committed warranty
performance payment Nature of goods Principal or refunds to and related
obligations terms transferred not customers obligations承擔的預期提供的質量履行履約重要的承諾轉讓是否為將退還給保證類型及義務的時間支付條款商品的性質主要責任人客戶的款項相關義務
Sales of goods 銷售商品 Time of delivery Advance/ payment Sales of automobiles Yes Nil Assurance-
and acceptance upon delivery related products mobile type
by customers handset components warranty
assembly service and
other products
交付且客戶接受時預收╱到貨收款主要銷售汽車、汽車相關產是無保證類質保
品、手機部件、組裝及其他產品
Rendering of services 提供服務 Term of service/ Service progress Rendering of maintenance Yes Nil Nil
time of delivery payment/ transportation platform
payment upon and technological
completion of services
services
服務期間╱交付時服務進度收款╱服主要提供維修、運輸、平台是無無務完成收款服務及技術服務等
Term of service Progress payment Construction of rail Yes Nil Assurance-
transport infrastructure type
warranty
Construction services 建造服務 服務期間 完工進度收款 軌道交通建造 是 無 保證類質保Annual Report 2023二零二三年年報255
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
45. Operating revenue and operating costs (continued) 45. 營業收入和營業成本（續）
As at 31 December 2023 the main performance obligations 於二零二三年十二月三十一日，主要的已簽that have signed the contract but have not been fulfilled or not 訂合同、但尚未履行或尚未履行完畢的履約
yet fulfilled are expected to be recognized within one year. 義務預計於1年以內確認為收入。
46. Tax and surcharge 46. 稅金及附加
20232022
二零二三年二零二二年
Consumption tax 消費稅 5723178 4220822
City maintenance and construction tax 城市維護建設稅 1284896 927285
Education surcharge 教育費附加 936302 669181
Property tax 房產稅 582177 295324
Land use tax 土地使用稅 380217 224156
Others 其他 1442858 930342
103496287267110
47. Selling expenses 47. 銷售費用
20232022
二零二三年二零二二年
After-sales service fees 售後服務費 9840595 6513832
Employee benefits 職工薪酬 5433859 3361416
Advertising and exhibition expenses 廣告展覽費 4267364 2201985
Depreciation and amortization 折舊及攤銷 1578596 749012
Material consumption 物料消耗 809608 443214
Office expenses 辦公費用 474386 168179
Travelling expenses 差旅費 387396 190085
Share-based payment 股份支付 84166 59266
Others 其他 2335425 1373687
25211395 15060676256 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
48. Administrative expenses 48. 管理費用
20232022
二零二三年二零二二年
Employee benefits 職工薪酬 9314402 6923900
Depreciation and amortization 折舊及攤銷 1797347 1748949
Material consumption 物料消耗 929802 639087
Office expenses 辦公費用 366159 180025
Share-based payment 股份支付 247643 183752
Audit and consulting expenses 審計及諮詢費 215091 86406
Including: Audit expenses# 其中：審計費# 6350 6350
Others 其他 591264 245251
1346170810007370
49. Research and development expenses 49. 研發費用
20232022
二零二三年二零二二年
Employee benefits 職工薪酬 21739370 10416829
Material consumption 物料消耗 11083658 5197592
Depreciation and amortization 折舊及攤銷 2586540 833845
Inspection expenses 檢測費 1098465 267934
Share-based payment 股份支付 398844 223269
Others 其他 2668068 1714984
3957494518654453
50. Finance expenses 50. 財務費用
20232022
二零二三年二零二二年
Interest expenses 利息支出 1827605 1316350
Including: Interest expenses on lease liabilities 其中：租賃負債利息支出 282733 169607
Less: Interest income 減：利息收入 2796195 1829617
Foreign exchange loss/(gain) 匯兌損失╱（收益） (638785) (1216430)
Others 其他 132481 111740
(1474894) (1617957)Annual Report 2023二零二三年年報257
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
51. Other income 51. 其他收益
20232022
二零二三年二零二二年
Government subsidy related to daily activities 與日常活動相關的政府補助 4619187 1675542
Others 其他 634272 45594
52534591721136
52. Investment loss income 52. 投資收益
20232022
二零二三年二零二二年
Long-term equity investment income/(loss) 按權益法核算的長期股權投資收益╱
accounted for under the equity method （損失） 1277455 (685885)
Investment income from investing in wealth 投資理財產品與債權投資產生的投資
management products and debt investment 收益 326469 102537
Investment income from the disposal of 處置子公司的投資收益
subsidiaries 25175 1903
Dividend income on other equity instrument 仍持有的其他權益工具投資的股利
investments held 收入 19545 1551
Investment income from the disposal of long- 處置長期股權投資產生的投資收益
term equity interests 6082 32320
Investment income from holding other non- 其他非流動金融資產在持有期間取得
current financial assets 的投資收益 4001 2547
Loss on derecognition of financial assets 以攤餘成本計量的金融資產終止確認
measured at amortised cost 損失 – (22719)
Investment loss from disposal of 處置交易性金融資產或負債的投資
financial assets or liabilities held for trading 損失 (23586) (224157)
1635141 (791903)258 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
53. Gains from changes in fair value 53. 公允價值變動收益
20232022
二零二三年二零二二年
Financial assets held for trading 交易性金融資產 102844 289958
Including: Structured deposits and certificate 其中：結 構性存款及大額存單
of deposit 83104 312556
Derivative financial assets 衍生金融資產 19740 (22598)
Financial liabilities held for trading 交易性金融負債 33996 (54605)
Including: Derivative financial liabilities 其中：衍生金融負債 33996 (54605)
Other current assets 其他流動資產 – (4279)
Other non-current financial assets 其他非流動金融資產 120900 (104976)
257740126098
54. Impairment loss on credit 54. 信用減值損失
20232022
二零二三年二零二二年
Loss of bad debts for accounts receivable 應收款項類壞賬損失 1596422 924762
Impairment loss on financial guarantee 財務擔保合同減值損失
contracts (16810) 64759
1579612989521
55. Impairment loss on asset 55. 資產減值損失
20232022
二零二三年二零二二年
Impairment loss on inventory 存貨跌價損失 2244853 834009
Impairment loss on development expenditures 開發支出減值損失 – 322054
Impairment loss on intangible assets 無形資產減值損失 – 91588
Impairment loss on contract assets 合同資產減值損失 (56634) 138807
2188219 1386458Annual Report 2023
二零二三年年報259
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
56. Gains from disposal of assets 56. 資產處置收益
20232022
二零二三年二零二二年
Gains/(losses) from disposal of fixed assets 固定資產處置收益╱（損失） 90364 (10836)
57. Non-operating income 57. 營業外收入
Included in
non-recurring
profit or
loss for
202320222023
計入二零二三年度非經常性二零二三年二零二二年損益
Government subsidy 政府補助 1646 1514 1646
Liquidated damages from suppliers 供應商的賠款 542597 233932 542597
Unpayable liabilities 無法支付的負債 88178 37842 88178
Others 其他 78949 253686 78949
711370 526974 711370260 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
58. Non-operating expenses 58. 營業外支出
Included in
non-recurring
profit or
loss for
202320222023
計入二零二三年度非經常性二零二三年二零二二年損益
Losses on disposal of non-current assets 非流動資產清理損失 1144068 865287 1144068
Donations 捐贈支出 36448 71045 36448
Liquidated damages and compensation 違約金及賠償 253877 23028 253877
Others 其他 111435 29704 111435
15458289890641545828
59. Income tax expenses 59. 所得稅費用
20232022
二零二三年二零二二年
Current income tax expenses 當期所得稅費用 7319831 3935200
Deferred income tax expenses 遞延所得稅費用 (1395264) (568575)
5924567 3366625Annual Report 2023
二零二三年年報261
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
59. Income tax expenses (continued) 59. 所得稅費用（續）
The reconciliation between income tax expenses and total 所得稅費用與利潤總額的關係列示如下：
profit is as follows:
20232022
二零二三年二零二二年
Total profit 利潤總額 37268637 21079729Income tax at the statutory tax rate (Note 1) 按法定稅率計算的所得稅（註1) 9315215 5269932Effect of different tax rates applicable to 子公司適用不同稅率的影響
subsidiaries (2823029) (1544743)
Profit or loss attributable to joint ventures and 歸屬於合營企業和聯營企業的損益
associates (306237) 47246
Tax impact of non-deductible cost expenses 不可抵扣的成本、費用和損失的影響
and losses 148296 90549
Effect on deductible temporary differences or 本期未確認遞延所得稅資產的可抵扣
deductible losses for which deferred tax 暫時性差異的影響或可抵扣虧損的
assets are not recognized for the period 影響 3864428 2293008
Effect of use of deductible losses on previously 使用前期未確認遞延所得稅資產的可
unrecognised deferred tax assets 抵扣虧損的影響 (485569) (320349)
Effect of changes in tax rate on the balance 稅率變動對期初遞延所得稅餘額的
of deferred income tax at the beginning of 影響
the period 38339 5071
Research and development expenses and 研發費用及其他稅法規定的加價扣除
other additional deduction as required by
taxation laws (3826876) (2474089)
Income tax expenses at the Group’s effective 按本集團實際稅率計算的所得稅費用
tax rate 5924567 3366625
Note 1: The Group’s income tax has been provided at the statutory 註1： 本集團所得稅按在中國境內取得的估計
rate based on the estimated taxable profits arising in 應納稅所得額及法定稅率計提。
the PRC.262 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
60. Earnings per share 60. 每股收益
20232022
二零二三年二零二二年
RMB/share RMB/share
元╱股元╱股
Basic earnings per share 基本每股收益
Continuing operations 持續經營 10.32 5.71
Diluted earnings per share 稀釋每股收益
Continuing operations 持續經營 10.32 5.71
Basic earnings per share is calculated by dividing the net 基本每股收益按照屬於本公司普通股股東的
profit for the Period attributable to ordinary shareholders of the 當期淨利潤，除以發行在外的普通股的加權Company by the weighted average number of ordinary shares 平均數計算。
outstanding.The numerator of diluted earnings per share is determined 稀釋每股收益的分子以歸屬於本公司普通股
based on the net profit for the Period attributable to ordinary 股東的當期淨利潤確定，即分子在計算的時shareholders of the Company which means that when 候加回計算基本每股收益分子時已扣除的歸
calculating the numerator net profit attributable to the 屬於預計未來可解鎖限制性股票的淨利潤或
restricted shares expected to be vested in the future or 當期分配給預計未來可解鎖限制性股票持有
cash dividends allocated to holders of the restricted shares 者的現金股利。
expected to be vested in the future for the Period which are
deducted in calculating the basic earnings per share are
added back.The denominator of diluted earnings per share is equal to the 稀釋每股收益的分母等於下列兩項之和：(1)
sum of (1) the weighted average number of ordinary shares in 基本每股收益中母公司已發行普通股的加權
issue of the parent company in basic earnings per share and (2) 平均數；及(2)假定稀釋性潛在普通股轉換為
increase in the weighted average number of ordinary shares 普通股而增加的普通股的加權平均數。
assuming conversion of dilutive potential ordinary shares into
ordinary shares.In calculating the weighted average number of ordinary shares 在計算稀釋性潛在普通股轉換為已發行普通
increased upon conversion of dilutive potential ordinary 股而增加的普通股股數的加權平均數時，以shares into ordinary shares in issue the dilutive potential 前期間發行的稀釋性潛在普通股，假設在當ordinary shares issued in previous periods are assumed to be 期期初轉換；當期發行的稀釋性潛在普通
converted at the beginning of the Period; the dilutive potential 股，假設在發行日轉換。
ordinary shares issued in the Period are assumed to be
converted on the issue date.Annual Report 2023二零二三年年報263
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
60. Earnings per share (continued) 60. 每股收益（續）
The calculations of basic and diluted earnings per share are 基本與稀釋每股收益的具體計算如下：
based on:
20232022
二零二三年二零二二年
Revenue 收益
Net profit for the Period attributable to 歸屬於本公司普通股股東的當期淨
ordinary shareholders of the Company 利潤 30040811 16622448
Less: D eductible net profit attributable to 減去：應 扣除歸屬於預計未來可
restricted shares which are 解鎖限制性股票的淨利潤
expected to be vested in the
future 39809 6294
Adjusted net profit for the Period 調整後歸屬於本公司普通股股東的
attributable to ordinary shareholders of 當期淨利潤
the Company 30001002 16616154
Shares 股份
Weighted average number of outstanding 本公司發行在外普通股的加權平均ordinary shares of the 數（千股)Company (thousands) 2906402 2907928
Diluted effect - weighted average 稀釋效應 –– 普通股的加權平均數number of ordinary shares 限制性股票（千股)restricted shares (thousand) 1720 2567
Adjusted weighted average number of 調整後本公司發行在外普通股的加
outstanding ordinary shares of the 權平均股數
Company (thousands) 2908122 2910495
In 2023 the restricted shares of the Company did not have 二零二三年，本公司的限制性股票對每股收any diluted effect on earnings per share. Therefore the diluted 益無稀釋影響，因此稀釋每股收益與基本每earnings per share are identical to the basic earnings per 股收益金額相同。
share.264 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
61. Notes to cash flow statement 61. 現金流量表項目註釋
(1) Cash related to operating activities (1) 與經營活動有關的現金
20232022
二零二三年二零二二年
Significant cash inflows received from 收到其他與經營活動有關的大額
other activities relating to operations are 現金流入列示如下：
presented as follows:
Interest income 利息收入 2430367 1801249
Liquidated damages from suppliers 供應商違約金 542597 233932
Government subsidy 政府補助 10367182 9953104
Significant cash outflows paid for other 支付其他與經營活動有關的大額
activities relating to operations are 現金流出列示如下：
presented as follows:
Selling and promoting expenses 銷售及推廣費用 5765861 3196155
Administrative expenses 行政及管理相關費用 1173208 512663
Research and development expenses 研發及開發費用 3772356 1978946
(2) Cash related to investing activities (2) 與投資活動有關的現金
20232022
二零二三年二零二二年
Significant cash inflows received from other 收到其他與投資活動有關的大額
activities relating to investments are 現金流入列示如下：
presented as follows:
Recovery of wealth management products 收回理財產品及其他投資款
and other investments 21750000 10970000
Significant cash outflows paid for other 支付其他與投資活動有關的大額
activities relating to investments are 現金流出列示如下：
presented as follows:
Purchase of wealth management products 購買理財產品及其他投資款
and other investments 10500000 25702830Annual Report 2023二零二三年年報265
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
61. Notes to cash flow statement (continued) 61. 現金流量表項目註釋（續）
(3) Cash related to financing activities (3) 與籌資活動有關的現金
20232022
二零二三年二零二二年
Significant cash outflows paid for 支付其他與籌資活動有關的大額
other activities relating to financing are 現金流出列示如下：
presented as follows:
Treasury shares 庫存股 – 1809920
Payment of lease liabilities 支付租賃負債 1280633 653469
The movements in each of the liabilities arising from 籌資活動產生的各項負債的變動如
financing activities are as follows: 下：
Increases during Decrease during
the year the year本年增加本年減少
Opening Cash Non-cash Cash Non-cash Closing
balance changes changes changes changes balance年初餘額現金變動非現金變動現金變動非現金變動年末餘額
Short-term borrowings 短期借款 5153098 32207000 11993 (19048875) – 18323216
Long-term borrowings 長期借款 11317078 13097083 7547 (6200115) – 18221592
Bond payables 應付債券 2047285 – – (2047285) – –
Lease liabilities 租賃負債 3311335 – 8515821 (1280634) (205299) 10341223
Other non-current liabilities 其他非流動負債 – 28233 – – – 28233
Total 合計 21828796 45332316 8535361 (28576909) (205299) 46914264266 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
62. Supplemental information on cash flow statement 62. 現金流量表補充資料
(1) Supplemental information on cash flow statement (1) 現金流量表補充資料
Reconciliation of net profit to cash flows from operating 將淨利潤調節為經營活動現金流量：
activities:
20232022
二零二三年二零二二年
Net profit 淨利潤 31344070 17713104
Add: Impairment loss on credit 加：信用減值損失 1579612 989521
Loss on asset impairment 資產減值損失 2188219 1386458
Depreciation of fixed assets 固定資產折舊 37715404 14602466
Depreciation of right-of-use assets 使用權資產折舊 1390498 584227
Depreciation of investment 投資性房地產折舊
properties 2495 2495
Amortisation of intangible assets 無形資產攤銷 4174175 5099231
Amortisation of long-term deferred 長期待攤費用攤銷
expenditures 270147 81586
Loss on disposal of fixed assets and 處 置固定資產和其他長期資產
other long-term assets 的損失 1053704 876123
Gain from changes in fair value 公允價值變動收益 (257740) (126098)
Finance costs 財務費用 529606 616273
Investment (income)/loss 投資（收益）╱損失 (1635141) 769184
Increase in deferred tax assets 遞延所得稅資產增加 (2174984) (1773589)
Increase in deferred tax liabilities 遞延所得稅負債增加 774851 1204963
Increase in inventories 存貨的增加 (7602102) (36564504)
Increase in operating receivables 經 營性應收項目的增加 (12641191) (17546586)
Increase in operating payables 經營性應付項目的增加 112737462 152528799
Others 其他 275940 394004
Net cash flow from operating activities 經營活動產生的現金流量淨額 169725025 140837657
Major non-cash investing and financing activities: 不涉及現金的重大投資和籌資活動：
20232022
二零二三年二零二二年
Acquisition of use-of-right assets by 承擔租賃負債方式取得使用權資產
way of leasing liabilities 7134921 2189430Annual Report 2023二零二三年年報267
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
62. Supplemental information on cash flow statement 62. 現金流量表補充資料（續）
(continued)
(1) Supplemental information on cash flow statement (1) 現金流量表補充資料（續）
(continued)
Net movements in cash and cash equivalents: 現金及現金等價物淨變動：
20232022
二零二三年二零二二年
Closing balance of cash and cash 現金及現金等價物的年末餘額
equivalents 108511745 51182457
Less: Opening balance of cash and cash 減：現金及現金等價物的年初餘額
equivalents 51182457 49819860
Net increase in cash and cash equivalents 現金及現金等價物淨增加額 57329288 1362597
(2) Net cash paid for acquisitions of subsidiaries and other (2) 取得子公司及其他營業單位的現金淨
operating entities 額
20232022
二零二三年二零二二年
Cash and cash equivalents paid in the 本年取得子公司及其他營業單位於
year for acquisitions of subsidiaries and 本年支付的現金和現金等價物
other operating entities during the year 14347070
Less: Cash and cash equivalents held by 減： 購買日子公司及其他營業單位
subsidiaries and other operating 持有的現金和現金等價物
entities at the acquisition date 269301 –
Add: C ash and cash equivalents paid in 加： 以前年度取得子公司及其他
the year for acquisitions of 營業單位於本年支付的
subsidiaries and other operating 現金和現金等價物
entities during the previous years – –
Net cash paid for acquisitions of 取得子公司及其他營業單位支付的
subsidiaries and other operating entities 現金淨額 14077769 –268 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
62. Supplemental information on cash flow statement 62. 現金流量表補充資料（續）
(continued)
(3) Net cash received from disposals of subsidiaries and (3) 處置子公司及其他營業單位的現金淨
other operating entities 額
20232022
二零二三年二零二二年
Cash and cash equivalents received in the 本年處置子公司及其他營業單位於
year for disposals of subsidiaries and 本年收到的現金和現金等價物
other operating entities during the year 81200 –
Less: Cash and cash equivalents held by 減：喪 失控制權日子公司及其他
subsidiaries and other operating 營業單位持有的現金和
entities at the date of losing 現金等價物
control rights 7360 –
Add: Cash and cash equivalents paid in 加： 以前年度處置子公司及其他
the year for disposals of 營業單位於本年支付的現金
subsidiaries and other operating 和現金等價物
entities during the previous years – –
Net cash received from disposals of 處置子公司及其他營業單位收到的
subsidiaries and other operating entities 現金淨額 73840 –
(4) Composition of cash and cash equivalents (4) 現金及現金等價物的構成
20232022
二零二三年二零二二年
Cash 現金 108511745 51182457
Including: Cash on hand 其中：庫存現金 12139 1525
B ank deposits on demand 可 隨時用於支付的銀行存款10486567246448591
Other monetary funds on 可 隨時用於支付的其他
demand 貨幣資金 3633934 4732341
Closing balance of cash and cash 年末現金及現金等價物餘額
equivalents 108511745 51182457
(5) Monetary funds that are not cash and cash equivalents (5) 不屬於現金及現金等價物的貨幣資金
2023 2022 Reason
二零二三年二零二二年理由
Deposit and special 保証金及專款專用 124124 167171 Restricted
account 使用受限
Interest accrued 應計利息 458539 121635 Cannot be withdrawn
at any time不可隨時支取
Total 合計 582663 288806Annual Report 2023二零二三年年報269
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
63. Foreign currency monetary items 63. 外幣貨幣性項目
2023
二零二三年
Original Exchange Translated
currency rate RMB原幣匯率折合人民幣
Cash 現金
JPY 日元 1056 0.0502 53
USD 美元 7 7.0827 49
Other currencies 其他幣種 – – 45
Sub-total 小計 147
Bank deposit 銀行存款
USD 美元 2832312 7.0827 20060415
EUR 歐元 221220 7.8592 1738613
BRL 巴西雷亞爾 611584 1.4596 892692
GBP 英鎊 48804 9.0411 441246
JPY 日元 8602932 0.0502 431978
Other currencies 其他幣種 – – 1453056
Sub-total 小計 25018000
Other monetary funds 其他貨幣資金
AUD 澳大利亞 15000 4.8484 72726
EUR 歐元 1660 7.8592 13045
USD 美元 1258 7.0827 8907
Other currencies 其他幣種 – – 48
Sub-total 小計 94726
Total 合計 25112873270 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
63. Foreign currency monetary items (continued) 63. 外幣貨幣性項目（續）
2023
二零二三年
Original Exchange Translated
currency rate RMB原幣匯率折合人民幣
Trade receivables 應收賬款
USD 美元 3283662 7.0827 23257193
BRL 巴西雷亞爾 874609 1.4596 1276614
INR 印度盧比 9727734 0.0852 828317
EUR 歐元 103286 7.8592 811745
AUD 澳大利亞 155230 4.8484 752617
Other currencies 其他幣種 – – 2421414
Total 合計 29347900
Other receivables 其他應收款
JPY 日元 1673910 0.0502 84047
EUR 歐元 8499 7.8592 66795
COP 哥倫比亞比索 26358415 0.0018 48236
BRL 巴西雷亞爾 19964 1.4596 29140
SGD 新加坡元 3141 5.3772 16890
USD 美元 1772 7.0827 12551
Other currencies 其他幣種 – – 297415
Total 合計 555074Annual Report 2023二零二三年年報271
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
63. Foreign currency monetary items (continued) 63. 外幣貨幣性項目（續）
2023
二零二三年
Original Exchange Translated
currency rate RMB原幣匯率折合人民幣
Trade payables 應付賬款
USD 美元 1690844 7.0827 11975741
BRL 巴西雷亞爾 2212819 1.4596 3229919
INR 印度盧比 11276863 0.0852 960225
GBP 英鎊 18356 9.0411 165958
JPY 日元 2473683 0.0502 124204
Other currencies 其他幣種 – – 601117
Total 合計 17057164
Other payables 其他應付款
JPY 日元 4802206 0.0502 241119
USD 美元 32089 7.0827 227277
EUR 歐元 25451 7.8592 200024
HKD 港幣 14544 0.9062 13180
Other currencies 其他幣種 – – 216194
Total 合計 897794272 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
64. Lease 64. 租賃
(1) As a lessee (1) 作為承租人
20232022
二零二三年二零二二年
Interest expense on lease liabilities 租賃負債利息費用 282733 169607
Short-term lease expenses through profit 計入當期損益的採用簡化處理的
or loss using simplified approach 短期租賃費用 952794 782728
Leasing expenses of low-value assets 計入當期損益的採用簡化處理的through profit or loss using simplified 低價值資產租賃費用（短期租賃approach (other than short- term lease) 除外） 13458 7626
Total cash outflow related to leases 與租賃相關的總現金流出 2246886 1443823
Lease assets rented by the Group included buildings 本集團承租的租賃資產包括經營過程
machinery and equipment required in the course of 中使用的房屋及建築物和機器設備，business. Buildings are typically leased for terms of 房屋及建築物的租賃期通常為1–20
1–20 years machinery and equipment is typically 年，機器設備的租賃期通常為1–5
leased for terms of 1–5 years. The lease contract 年。租賃合同通常約定本集團不能將usually stipulates that the Group shall not sublease the 租賃資產進行轉租。
leased assets.
(2) As a lessor (2) 作為出租人
The Group leases part of buildings equipment for a 本集團將部分房屋建築物、設備用於
lease term of 1–20 years which constitutes operating 出租，租賃期為1–20年，形成經營租leases. According to the lease contracts the rental 賃。根據租賃合同，每年需根據市場is required to be adjusted annually based on the 租金狀況對租金進行調整。因預計存market conditions. In light of the expected second- 在二手市場，租賃資產餘值風險不重hand market the residual risk of lease assets is not 大。
significant.Annual Report 2023二零二三年年報273
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
V. NOTES TO KEY ITEMS OF THE CONSOLIDATED 五、 合併財務報表主要項目註釋（續）
FINANCIAL STATEMENTS (CONTINUED)
65. Lease (continued) 65. 租賃（續）
(2) As a lessor (continued) (2) 作為出租人（續）
Operating lease 經營租賃
Profit or loss related to operating lease is shown as 與經營租賃有關的損益列示如下：
follows:
20232022
二零二三年二零二二年
Rental income 租賃收入 229894 252494
According to the lease contract signed with the lessee 根據與承租人簽訂的租賃合同，未折undiscounted minimum lease receipts are as follows: 現最低租賃收款額如下：
20232022
二零二三年二零二二年
Within 1 year (inclusive) 1年以內（含1年） 59349 97774
1 to 2 years (inclusive) 1–2年（含2年） 20255 68986
2 to 3 years (inclusive) 2–3年（含3年） 15683 43033
3 to 4 years (inclusive) 3–4年（含4年） 10267 39042
4 to 5 years (inclusive) 4–5年（含5年） 9156 15510
Over 5 years 5年以上 22093 21719
136803 286064274 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VI. DEVELOPMENT EXPENDITURES 六、 研發支出
Classification by nature: 按性質分類如下：
20232022
二零二三年二零二二年
Employee benefits 職工薪酬 21803760 11304110
Material consumption 物料消耗 11276698 5624882
Depreciation and amortization 折舊及攤銷 2588333 841220
Inspection expenses 檢測費 1114636 324183
Share-based payment 股份支付 400381 244005
Others 其他 2733935 1884842
Total 合計 39917743 20223242
Including: Expensed development 其中：費用化研發支出
expenditures 39574945 18654453
Capitalised development 資本化研發支出
expenditures 342798 1568789
Development expenditures of R&D projects quali f ied for 符合資本化條件的研發項目開發支出如下：
capitalisation are as follows:
Increase during the year Decrease during the year本年增加本年減少
Recognition Charged to
Opening In-house as intangible profit Closing
balance development Others assets or loss balance年初金額內部開發其他確認無形資產計入當期損益年末餘額
Automobile projects
汽車項目 1683000 342798 – 1484798 – 541000Annual Report 2023二零二三年年報275
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VII. CHANGES TO THE SCOPE OF CONSOLIDATION 七、 合併範圍的變更
1. Business combinations not involving entities under 1. 非同一控制下企業合併
common control
Business combinations not involving entities under common 本年度發生的非同一控制下企業合併列示如
control incurred during the year are as follows: 下：
Cost of
Time of equity Equity Way of equity Basis of
equity acquisition acquisition acquired (%) acquisition Purchase date purchase date股權取得股權取得
股權取得時點成本比例（%）股權取得方式購買日購買日的確定依據
Juno Newco 29 December 2023 14669793 100% Acquisition 29 December 2023 Payment of
consideration for acquisition
and change of shareholding
Juno Newco 二零二三年 收購 二零二三年 收購對價支付、十二月二十九日十二月二十九日股權變更
The revenue net profit and net cash flow generated by the 被收購方Juno Newco從購買日至年末產生
acquiree Juno Newco were not material from the purchase date 的營業收入、淨利潤和現金流量淨額均不重
to the end of the year. 大。276 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VII. CHANGES TO THE SCOPE OF CONSOLIDATION 七、 合併範圍的變更（續）
(CONTINUED)
1. Business combinations not involving entities under 1. 非同一控制下企業合併（續）
common control (continued)
Fair values and carrying amount of the identifiable assets and Juno Newco 的可辨認資產和負債於購買日
liabilities of Juno Newco as at the purchase date are as follows: 的公允價值和賬面價值如下：
Carrying
Fair value amount
as at as at
29 December 29 December
20232023
二零二三年二零二三年十二月十二月二十九日二十九日公允價值賬面價值
Total current assets 流動資產合計 7489393 7489393
Total non-current assets 非流動資產合計 11976934 7320356
Total current liabilities 流動負債合計 7386835 7386835
Total non-current liabilities 非流動負債合計 1771356 1003736
Net assets 淨資產 10308136 6419178
Net assets acquired 取得的淨資產 10308136 6419178
Goodwill generated by acquisition 購買產生的商譽 4361657
Combination cost 合併成本 14669793 註1
Note 1: The consideration for the acquisition will be paid fully in 註1： 本次收購對價全部為現金對價，其中cash of which RMB14347070000 was paid in 2023 人民幣14347070千元於二零二三年支
and the remaining consideration as at 31 December 2023 付，截至二零二三年十二月三十一日人of RMB322723000 was recorded in other payables. 民幣322723千元記錄於其他應付款。
The final cash consideration is still under discussion. 最終現金對價仍在商討過程中。Annual Report 2023二零二三年年報277
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VII. CHANGES TO THE SCOPE OF CONSOLIDATION 七、 合併範圍的變更（續）
(CONTINUED)
2. Disposal of subsidiaries 2. 處置子公司
As of 31 December 2023 the Group recorded 1 disposal of 截至二零二三年十二月三十一日，本集團處subsidiaries (2022: nil). 置1家子公司（二零二二年：無）。
3. Changes to the scope of consolidation for other 3. 其他原因的合併範圍變動
reasons
As of 31 December 2023 the Group added 285 subsidiaries 截至二零二三年十二月三十一日，本集團新
(2022:247).增285家子公司（二零二二年：247家）。
(1) New major subsidiaries (1) 新設重要子公司
As of 31 December 2023 the Group had no new major 截至二零二三年十二月三十一日，本subsidiaries (2022: nil). 集團無重要的新設子公司（二零二二年：無）。
(2) Deregistration of subsidiaries (2) 註銷子公司
As of 31 December 2023 the Group deregistered 21 截至二零二三年十二月三十一日，本subsidiaries (2022: 22). 集團註銷21家子公司（二零二二年：22家）。278 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VIII. INTERESTS IN OTHER ENTITIES 八、 在其他主體中的權益
1. Interests in subsidiaries 1. 在子公司中的權益
Particulars of the subsidiaries of the Company are as follows: 本公司子公司的情況如下：
(1) Major subsidiaries acquired by way of establishment or (1) 通過設立或投資等方式取得的重要子
investment (including indirectly held subsidiaries) 公司(包括間接持有的子公司)
Principal places Place of Registered Percentage of
Full name of subsidiary of business registration Business nature capital shareholding (%)
子公司全稱主要經營地註冊地業務性質註冊資本╱股本持股比例(%)
Direct Indirect直接間接
Major subsidiaries acquired by way of establishment or investment通過設立或投資等方式取得的重要子公司
BYD Auto Industry Company Limited Shenzhen Shenzhen Manufacture USD3757654524 96.79 3.21比亞迪汽車工業有限公司深圳深圳製造美元3757654524
CHANGSHA BYD AUTO CO. LTD. Changsha Changsha Manufacture RMB1000000000 – 99.88長沙比亞迪汽車有限公司長沙長沙製造人民幣1000000000元
Changzhou BYD Auto Co. Ltd. Changzhou Changzhou Manufacture RMB50000000 – 100.00常州比亞迪汽車有限公司常州常州製造人民幣50000000元
Hefei BYD Auto Co. Ltd. Hefei Hefei Manufacture RMB2000000000 – 100.00合肥比亞迪汽車有限公司合肥合肥製造人民幣2000000000元
BYD Electronic (International)
Company Limited Hong Kong Hong Kong Investment holding HKD440000000 – 65.76 Note 2
比亞迪電子（國際）有限公司香港香港投資控股港元440000000註2
BYD Precision Manufacture Co. Ltd. Shenzhen Shenzhen Manufacture USD145000000 – 65.76 Note 1
比亞迪精密製造有限公司 深圳 深圳 製造 美元145000000 註1Annual Report 2023二零二三年年報279
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VIII. INTERESTS IN OTHER ENTITIES (CONTINUED) 八、 在其他主體中的權益（續）
1. Interests in subsidiaries (continued) 1. 在子公司中的權益（續）
(1) Major subsidiaries acquired by way of establishment (1) 通過設立或投資等方式取得的重要子
or investment (including indirectly held subsidiaries) 公司（包括間接持有的子公司）（續）
(continued)
Principal places Place of Registered Percentage of
Full name of subsidiary of business registration Business nature capital shareholding (%)
子公司全稱主要經營地註冊地業務性質註冊資本╱股本持股比例(%)
Direct Indirect直接間接
Huizhou BYD Electronics Co. Ltd. Huizhou Huizhou Manufacture USD110000000 – 65.76 Note 1惠州比亞迪電子有限公司惠州惠州製造美元110000000註1
Subsidiaries acquired by business combinations involving entities under common control同一控制下企業合併取得的子公司
BYD Lithium Battery Co. Ltd. Shenzhen Shenzhen Manufacture RMB6160000000 100.00 –深圳市比亞迪鋰電池有限公司深圳深圳製造人民幣6160000000元
Subsidiaries acquired by business combinations not involving entities under common control非同一控制下企業合併取得的子公司
BYD Auto Co. Ltd. Xi’an Xi’an Manufacture RMB4381313131 99.00 –
比亞迪汽車有限公司 西安 西安 製造 人民幣4381313131元280 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VIII. INTERESTS IN OTHER ENTITIES (CONTINUED) 八、 在其他主體中的權益（續）
1. Interests in subsidiaries (continued) 1. 在子公司中的權益（續）
(1) Major subsidiaries acquired by way of establishment (1) 通過設立或投資等方式取得的重要子
or investment (including indirectly held subsidiaries) 公司（包括間接持有的子公司）（續）
(continued)
Note 1: These major subsidiaries are wholly owned 註1： 該等重要子公司是通過比亞
by BYD Electronic (International) Company 迪電子（國際）有限公司全資持
Limited and the corresponding non-controlling 有，相應的少數股東權益已在interests have been reflected in BYD Electronic 比亞迪電子（國際）有限公司反
(International) Company Limited. 映。
Note 2: BYD Electronic (International) Company Limited 註2： 比亞迪電子（國際）有限公司為香
is a company listed on the Hong Kong Stock 港聯交所上市公司，股本為4.4Exchange with a share capital of HKD440 億港幣。截至二零二三年十二million. As at 31 December 2023 Golden Link 月三十一日，金菱環球有限公Worldwide Limited accounted for 65.76% interest 司佔該公司65.76%權益，故將of the company and was therefore included in 其作為子公司納入合併範圍。
the scope of consolidation as a subsidiary.Major subsidiaries with non-controlling interests are as 存在少數股東權益的重要子公司如
follows: 下：
31 December 2023 二零二三年十二月三十一日
Profit or loss Dividend
attributable payment Accumulated
Ratio of non- to non- to non- non-controlling
controlling controlling controlling interests at the
interests interests interests end of the year少數股東歸屬於少數向少數股東年末累計持股比例股東的損益支付股利少數股東權益
BYD Electronic (International) Company Limited 比亞迪電子（國際）有限公司 34.24% 1383766 127297 10042724Annual Report 2023二零二三年年報281
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VIII. INTERESTS IN OTHER ENTITIES (CONTINUED) 八、 在其他主體中的權益（續）
1. Interests in subsidiaries (continued) 1. 在子公司中的權益（續）
(1) Major subsidiaries acquired by way of establishment (1) 通過設立或投資等方式取得的重要子
or investment (including indirectly held subsidiaries) 公司（包括間接持有的子公司）（續）
(continued)
The key financial information of the consolidated financial 下表列示了上述子公司合併財務報表
statements of the above subsidiaries is as follows. The 的主要財務信息。這些信息為本集團amounts listed below are the amounts before group intra- 內各企業之間相互抵消前的金額：
eliminations.
20232022
二零二三年二零二二年
Current assets 流動資產 54606964 40488254
Non-current assets 非流動資產 32611656 16506119
Total assets 資產合計 87218620 56994373
Current liabilities 流動負債 54750533 30142838
Non-current liabilities 非流動負債 3137698 1216466
Total liabilities 負債合計 57888231 31359304
Operating revenue 營業收入 131094271 108240899
Net profit 淨利潤 4041374 1857618
Total comprehensive income 綜合收益總額 4067099 1840046
Net cash flows from operating activities 經營活動產生的現金流量淨額 10242918 5961208
Transactions resulting in changes of equity held in 在子公司的股東權益份額發生變化且
subsidiaries with no effect on the right of control: 未影響控制權的交易：
There were no transactions in 2023 in which some equity 二零二三年無處置部分子公司的股權
investments in subsidiaries were disposed of without loss 投資，但未喪失對子公司的控制權的of control over the subsidiaries. 交易。282 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VIII. INTERESTS IN OTHER ENTITIES (CONTINUED) 八、 在其他主體中的權益（續）
2. Interests in joint ventures and associates 2. 在合營企業和聯營企業中的權益
Principal
place of Place of Percentage of Accounting
Joint ventures business registration Business nature Registered capital Shareholding (%) method
合營企業主要經營地註冊地業務性質註冊資本持股比例(%)會計處理
Direct Indirect直接間接
BYD Auto Finance Company Limited Xi’an Xi’an Acceptance of fixed deposits from shareholders RMB10000000000 77 3 Equity Note 1
and subsidiaries of the group; acceptance of auto method
loan deposits and lease deposits; issuance of
financial bonds; engaging in interbank borrowing;
borrowing; auto financing and leasing business
(excluding sale and leaseback); and equity
investment business of financial institutions related
to auto finance business.比亞迪汽車金融有限公司西安西安接受股東和集團子公司的定期存款；接受車貸保人民幣10000000千元773權益法註1證金和租賃保證金；發行金融債券；從事同業拆借；借貸；汽車融資租賃業務除售後回租；與汽車金融業務相關的金融機構股權投資業務。
Hengqin Hexie Dingtai Equity Investment Zhuhai Zhuhai Equity investment mainly investing in excellent RMB1401500000 – 43 Equity
LP sub-funds in TMT logistics and other fields. method
橫琴和諧鼎泰股權投資企業（有限合夥） 珠海 珠海 股權投資，主要投資於TMT、物流等領域的優秀 人民幣1401500千元 – 43 權益法子基金。
Community Fund LP Cayman Cayman Investing in excellent sub-funds in technology USD600000000 – 50 Equity
Islands Islands medical innovation and other fields. method
Community Fund LP 開曼群島 開曼群島 投資於科技及醫學創新等領域的優秀子基金。 美元600000千元 – 50 權益法Shenzhen Didi New Energy Vehicle Shenzhen Shenzhen Automobile leasing and operation; investing in RMB1195616000 – 40 Equity
Technology Co. Ltd. new energy electric taxi enterprises. method
深圳市迪滴新能源汽車科技有限公司 深圳 深圳 汽車租賃及運營；新能源電動出租車企業投資。 人民幣1195616千元 – 40 權益法Annual Report 2023二零二三年年報283
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VIII. INTERESTS IN OTHER ENTITIES (CONTINUED) 八、 在其他主體中的權益（續）
2. Interests in joint ventures and associates (continued) 2. 在合營企業和聯營企業中的權益（續）
Principal
place of Place of Percentage of Accounting
Associates business registration Business nature Registered capital Shareholding (%) method
聯營企業主要經營地註冊地業務性質註冊資本持股比例(%)會計處理
Direct Indirect直接間接
Tibet Zabuye Lithium Industry Co. Ltd. Tibet Tibet Development production and sales of lithium RMB930000000 18 – Equity Note 2
ore boron ore lithium-boron series products method
inorganic salt and biological resources and
products of salt lake.西藏日喀則扎布耶鋰業高科技有限公司西藏西藏鋰礦、硼礦、鋰硼系列產品、無機鹽、鹽湖生物人民幣930000千元18–權益法註2
資源及產品的開發、生產、銷售。
Shenzhen Faurecia Auto Parts. Ltd. Shenzhen Shenzhen Development production assembly sales and RMB200000000 – 30 Equity
delivery of automotive seating products and method
related components covering automotive seats
seat frames seat foams seat covers; provision of
after-sales services and technology development
services.深圳佛吉亞汽車部件有限公司深圳深圳開發、生產、裝配、銷售和交付涵蓋汽車整椅、人民幣200000千元–30權益法
座椅骨架、座椅發泡、座椅面套的汽車座椅產品及產品的相關零部件；提供售後服務和技術開發服務。
Chengxin Lithium Group Co. Ltd. Chengdu Chengdu Self-operation and agent for the import and RMB921786000 5 – Equity Note 2
export of various commodities and technologies; method
production and sales of lithium carbonate lithium
hydroxide lithium chloride and other lithium
products; technology development project
investment and industrialisation of new energy
and new materials.盛新鋰能集團股份有限公司成都成都自營和代理各類商品和技術的進出口。碳酸鋰、人民幣921786千元5–權益法註2氫氧化鋰、氯化鋰等鋰產品的生產和銷售；新能
源、新材料的技術開發、項目投資和產業化運作。284 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VIII. INTERESTS IN OTHER ENTITIES (CONTINUED) 八、 在其他主體中的權益（續）
2. Interests in joint ventures and associates (continued) 2. 在合營企業和聯營企業中的權益（續）
Principal
place of Place of Percentage of Accounting
Associates business registration Business nature Registered capital Shareholding (%) method
聯營企業主要經營地註冊地業務性質註冊資本持股比例(%)會計處理
Direct Indirect直接間接
Carbon One New Energy Group Co. Ltd. Quzhou Quzhou R&D of emerging energy technologies; R&D of RMB878681000 6 – Equity Note 2
technologies for new materials; sales of batteries; method
battery manufacturing.碳一新能源集團有限責任公司衢州衢州新興能源技術研發；新材料技術研發；電池銷人民幣878681千元6–權益法註2售；電池製造。
There are no material joint ventures and associates of the Group 本集團本年無重要合營企業及聯營企業。
during the year.Note 1: 註1：
Basis for holding more than 50% of the voting rights but not having 持有50%以上表決權但不具有控制的依據：
control:
The Company holds 80.00% equity interests in BYD Auto Finance 公司持有比亞迪汽車金融有限公司80.00%的
Company Limited (“Auto Finance”). According to the investment 股權，根據投資協議及章程約定，汽車金融董agreement and articles of association four out of five directors 事會五名董事中，有四名由本公司委派，且董of the board of directors of Auto Finance were appointed by the 事會作出決議必須經董事會全體董事的一致通
Company and the resolutions made by the board of directors must 過，因此本集團與其他股東對汽車金融實施共be unanimously approved by all directors of the board of directors. 同控制，故作為合營企業按權益法核算。
Therefore the Group and other shareholders exercise joint control
over Auto Finance which accounted for as a joint venture under the
equity method.Note 2: 註2：
Basis for holding less than 20% of the voting rights but having 持有20%以下表決權但具有重大影響的依據：
significant influence:
Although the proportion of the shares held by the Group is less 本集團的持股比例雖然低於20%，但是上述三than 20% the boards of directors of the aforementioned three 家聯營企業的董事會中有本集團任命的董事，associates include the directors appointed by the Group thus the 本集團能夠對其施加重大影響，故將其作為聯Group can exercise significant influence over them therefore they 營企業按權益法核算。
are accounted for as associates under the equity method.Annual Report 2023二零二三年年報285
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
VIII. INTERESTS IN OTHER ENTITIES (CONTINUED) 八、 在其他主體中的權益（續）
2. Interests in joint ventures and associates (continued) 2. 在合營企業和聯營企業中的權益（續）
The following table sets out summarised financial information of 下表列示了對本集團單項不重要的合營企業
insignificant joint ventures and associates of the Group: 和聯營企業的匯總財務信息：
20232022
二零二三年二零二二年
Joint ventures 合營企業
Aggregate carrying amount of investments 投資賬面價值合計 12742513 11284563
Net profit 淨利潤 949477 (678862)
Total comprehensive income 綜合收益總額 949477 (678862)
Adjustments 調整事項 43350 (181084)
Associates 聯營企業
Aggregate carrying amount of investments 投資賬面價值合計 4904699 4200839
Net profit 淨利潤 301246 389187
Total comprehensive income 綜合收益總額 301246 389187
Adjustments 調整事項 1854 4275
Unconfirmed commitments related to investments in joint 與對合營企業投資相關的未確認承諾：
ventures:
20232022
二零二三年二零二二年
The Group’s capital contribution commitments 本集團對合營企業的出資承諾
to joint ventures 247411 310271
Total 合計 247411 310271
IX. GOVERNMENT GRANTS 九、 政府補助
As at 31 December 2023 liability items related to government 於二零二三年十二月三十一日，涉及政府補grants are as follows: 助的負債項目如下：
Increase
Opening during Decrease Closing
balance the year during the year balance年初餘額本年增加本年減少年末餘額
Deferred income
遞延收益 17473112 13037757 (4620833) 25890036286 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
IX. GOVERNMENT GRANTS (CONTINUED) 九、 政府補助（續）
Government grants included in profit or loss are as follows: 計入當期損益的政府補助如下：
20232022
二零二三年二零二二年
Government grants related to assets 與資產相關的政府補助
Included in other income 計入其他收益 3287277 704633
Included in non-operating income 計入營業外收入 1646 1514
Government grants related to income 與收益相關的政府補助
Included in other income 計入其他收益 1331910 970909
Total 合計 4620833 1677056
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險
INSTRUMENTS
1. Classification of financial instruments 1. 金融工具分類
As at 31 December 2023 the total of financial assets at fair value 於二零二三年十二月三十一日，以公允價值through profit or loss amounted to RMB12258924000 (31 計量且其變動計入當期損益的金融資產合計December 2022: RMB22987327000) which were primarily 12258924千元（二零二二年十二月三十一presented in financial assets held for trading other non-current 日：22987327千元），主要列示於交易性financial assets. The total of financial assets at fair value through 金融資產、其他非流動金融資產；以公允價
other comprehensive income amounted to RMB10892207000 值計量且其變動計入其他綜合收益的金融資(31 December 2022: RMB17312868000) which were primarily 產合計10892207千元（二零二二年十二月presented in receivables financing and other equity instrument 三十一日：17312868千元），主要列示於investments. The total of financial assets measured at amortised 應收款項融資和其他權益工具投資；以攤餘
cost amounted to RMB188602579000 (31 December 成本計量的金融資產合計188602579千元2022: RMB93514746000) which were primarily presented （二零二二年十二月三十一日：93514746千in monetary funds trade receivables other receivables long- 元），主要列示於貨幣資金、應收賬款、其term receivables and other non-current assets. The total of 他應收款、長期應收款、其他非流動資產；
financial liabilities at fair value through profit or loss amounted 以公允價值計量且其變動計入當期損益的金to RMB7713000 (31 December 2022: RMB54605000) 融負債合計7713千元（二零二二年十二月三which were primarily presented in financial liabilities held for 十一日：54605千元），主要列示於交易性trading. The total of financial liabilities measured at amortised 金融負債；以攤餘成本計量的金融負債合計cost amounted to RMB423065332000 (31 December 2022: 423065332千元（二零二二年十二月三十一RMB290882598000) which were primarily presented in short- 日：290882598千元），主要列示於短期借term borrowings bills payables trade payables other payables 款、應付票據、應付賬款、其他應付款、租
lease liabilities long-term borrowings and other non-current 賃負債、長期借款與其他非流動負債。
liabilities.Annual Report 2023二零二三年年報287
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
2. Offsetting of financial assets 2. 金融資產抵銷
The Group has entered into a netting agreement on trade 本集團就應收賬款簽訂了淨額結算協議。根receivables. According to the agreement the Group has the legal 據該協議，本集團具有應收債權人的金額全right to offset all or part of the amount due to creditors with the 部或部分抵銷應付債權人的金額的法定權
amount due from such creditors. 利。
Financial assets that are offset and financial assets subject to the 抵銷的金融資產以及遵循可執行的總互抵協
enforceable master netting agreement or similar agreements are 議或類似協議下的金融資產如下：
as follows:
2023二零二三年
Total Net amount
Total recognised listed in
recognised financial assets the balance
financial assets that are offset sheet已確認金融抵銷的已確認資產負債表中資產的總額金融資產的總額列示的淨額
Trade receivables 應收賬款 3830919 (3666775) 164144
2022二零二二年
Total Net amount
Total recognised listed in
recognised financial assets the balance
financial assets that are offset sheet已確認金融抵銷的已確認資產負債表中資產的總額金融資產的總額列示的淨額
Trade receivables 應收賬款 5482963 (5276504) 206459288 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
2. Offsetting of financial assets (continued) 2. 金融資產抵銷（續）
Financial liabilities that are offset and financial liabilities subject to 抵銷的金融負債以及遵循可執行的總互抵協
the enforceable master netting agreement or similar agreements 議或類似協議下的金融負債如下：
are as follows:
2023二零二三年
Total Total Net amount
recognised recognised listed in
financial financial assets the balance
liabilities that are offset sheet已確認金融抵銷的已確認資產負債表中負債的總額金融資產的總額列示的淨額
Trade payables 應付賬款 3666775 (3666775) –
2022二零二二年
Total
Total recognised Net amount
recognised financial assets listed in
financial that are the balance
liabilities offset sheet已確認金融抵銷的已確認資產負債表中負債的總額金融資產的總額列示的淨額
Trade payables 應付賬款 5276504 (5276504) –Annual Report 2023二零二三年年報289
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
3. Risks of financial instruments 3. 金融工具風險
Financial risk management objectives and policies 金融風險管理目標及政策
The Group’s daily activities expose it to the risks of a variety of 本集團在日常活動中面臨各種金融工具的風
financial instruments mainly including credit risk liquidity risk and 險，主要包括信用風險、流動性風險及市場market risk. The Group’s accounting policies on derivatives are 風險。本集團有關衍生工具的會計政策載於set out in Note III.10 to the financial statements. 財務報表附註三、10。
Credit risk 信用風險
The Group only trades with recognised and creditworthy third 本集團僅與經認可的、信譽良好的第三方進
parties. It is the Group’s policy that all customers who wish to 行交易。按照本集團的政策，需對所有要求trade on credit terms are subject to credit verification procedures. 採用信用方式進行交易的客戶進行信用審
In addition receivable balances and contract assets are 核。另外，本集團對應收賬款以及合同資產monitored on an ongoing basis to ensure that the Group is not 餘額進行持續監控，以確保本集團不致面臨exposed to significant bad debt risk. For transactions that are not 重大壞賬風險。對於未採用相關經營單位的denominated in the bookkeeping base currency of the relevant 記賬本位幣結算的交易，除非本集團信用控operating unit the Group does not offer credit terms without the 制部門特別批准，否則本集團不提供信用交special approval of its credit control department. 易條件。
Since monetary funds receivables financing and derivative 由於貨幣資金、應收款項融資和衍生金融工
financial instruments are placed with creditworthy banks with 具的交易對手是聲譽良好並擁有較高信用評
high credit ratings the credit risk of these financial instruments is 級的銀行，這些金融工具信用風險較低。
relatively low.The Group’s other financial assets comprise monetary funds 本集團其他金融資產包括貨幣資金、應收賬
trade receivables other receivables and long-term receivables. 款、其他應收款項及長期應收款，這些金融The credit risk of such financial assets and contract assets arises 資產以及合同資產的信用風險源自交易對方
from default of the counterparty with a maximum exposure 違約，最大風險敞口等於這些工具的賬面價equalling to the carrying amounts of these instruments. The 值。本集團還因提供財務擔保而面臨信用風Group also faces credit risk due to the provision of financial 險，詳見附註十四、2中披露。
guarantees details of which are disclosed in Note XIV.2
Since the Group only trades with recognised and credit- 由於本集團僅與經認可的且信譽良好的第三
worthy third parties there is no requirement for collateral. 方進行交易，所以無需擔保物。信用風險集Credit risk management is centralized according to customers/ 中按照客戶╱交易對手、地理區域和行業進
counterparties geographic regions and industries. As at 31 行管理。於二零二三年十二月三十一日，本December 2023 The Group had certain concentrations of credit 集團具有特定信用風險集中，本集團應收賬risk as 15% (31 December 2022: 4%) and 26% (31 December 款和合同資產合計賬面餘額的15%（二零二二2022: 10%) of the total book balance of the Group’s trade 年十二月三十一日：4%）和26%（二零二二年receivables and contract assets were due from the Group’s 十二月三十一日：10%）分別源於應收賬款和
customer and five customers with the largest book value of trade 合同資產合計餘額最大客戶及前五大客戶。
receivables and contract assets respectively. The Group did not 本集團對應收賬款或合同資產餘額未持有任
hold any collateral or credit enhancements for the balance of 何擔保物或其他信用增級。
trade receivables or contract assets.290 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
3. Risks of financial instruments (continued) 3. 金融工具風險（續）
Credit risk (continued) 信用風險（續）
Criteria for judging significant increase in credit risk 信用風險顯著增加判斷標準
The Group assesses whether or not the credit risk of the relevant 本集團在每個資產負債表日評估相關金融工
financial instruments has increased significantly since the initial 具的信用風險自初始確認後是否已顯著增
recognition at each balance sheet date. The Group adopts 加。本集團判斷信用風險顯著增加的主要標overdue period of more than 30 days or significant changes in 準為逾期天數超過30日，或者以下一個或多one or more of the following indicators as the principal criterion 個指標發生顯著變化：債務人所處的經營環
for judging whether the credit risk has increased significantly: 境、內外部信用評級、實際或預期經營成果
material adverse changes in the business environment which the 出現重大不利變化等。
debtor is subject to and the debtor’s internal and external credit
ratings actual or expected operating results.Definition of credit-impaired assets 已發生信用減值資產的定義
The Group adopts overdue period of more than 90 days as the 本集團判斷已發生信用減值的主要標準為逾
principal criterion for judging whether credit impairment has 期天數超過90日，但在某些情況下，如果內incurred. But the Group would also recognise credit impairment 部或外部信息顯示，在考慮所持有的任何信in some circumstances where internal or external information 用增級之前，可能無法全額收回合同金額，indicates that the contract value cannot be fully recovered without 本集團也會將其視為已發生信用減值。
considering any credit enhancement held.The credit impairment on a financial asset may be caused by the 金融資產發生信用減值，有可能是多個事件combined effect of multiple events and may not be necessarily 的共同作用所致，未必是可單獨識別的事件due to a single identifiable event. 所致。
Credit risk exposures 信用風險敞口
For the credit r isk exposures to trade receivables other 應收賬款、其他應收款、合同資產、長期應
receivables contract assets and long-term receivables please 收款的信用風險敞口詳見附註五、3，附註
refer to the disclosure in Note V.3 Note V.5 Note V.8 and Note 五、5，附註五、8，附註五、10的披露。
V.10Annual Report 2023二零二三年年報291
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
3. Risks of financial instruments (continued) 3. 金融工具風險（續）
Liquidity risk 流動性風險
The Group’s object ive is to mainta in balance between 本集團的目標是運用多種融資手段、以保持
sustainability and flexibility of financing through the use of multiple 融資的持續性與靈活性的平衡。本集團通過financing channels. The Group finances business operation by 經營和借款等產生的資金為經營融資。
funds acquired by operating activities and borrowings.The maturity analysis of financial liabilities based on undiscounted 下表概括了金融負債按未折現的合同現金流
contractual cash flow is summarised as follows: 量所作的到期期限分析：
31 December 2023 二零二三年十二月三十一日
Within 1 to 5 Over
1 year years 5 years Total
Financial liabilities 金融負債 1年以內 1年至5年 5年以上 合計
Bank borrowings and other 銀行借款及其他抵押
secured borrowings 借款 24772220 12129666 – 36901886
Trade payables 應付賬款 194429817 – – 194429817
Bills payables 應付票據 4053314 – – 4053314
Lease liabilities 租賃負債 1921148 6364240 4034976 12320364
Other payables 其他應付款 164972849 – – 164972849
Other non-current liabilities 其他非流動負債 – 12785304 – 12785304
390149348312792104034976425463534
31 December 2022 二零二二年十二月三十一日
Within 1 to 5 Over
1 year years 5 years Total
Financial liabilities 金融負債 1年以內 1年至5年 5年以上 合計
Bank borrowings and other 銀行借款及其他抵押
secured borrowings 借款 9005926 7913494 – 16919420
Trade payables 應付賬款 140437310 – – 140437310
Bills payables 應付票據 3328419 – – 3328419
Lease liabilities 租賃負債 900497 2211458 612510 3724465
Other payables 其他應付款 122123841 – – 122123841
Other current liabilities 其他流動負債 2053190 – – 2053190
Other non-current liabilities 其他非流動負債 – 3079533 78794 3158327
277849183 13204485 691304 291744972292 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
3. Risks of financial instruments (continued) 3. 金融工具風險（續）
Market risk 市場風險
Exchange rate risk 匯率風險
The Group is exposed to trading exchange rate risks. Such 本集團面臨交易性的匯率風險。此類風險由exposures arise from sales or purchases by operating units in 於經營單位以其記賬本位幣以外的貨幣進行
currencies other than the units’ bookkeeping base currency. 的銷售或採購所致。
The Group adopts foreign exchange forward contracts to reduce 本集團採用外匯遠期合同減少匯率風險敞
its exchange rate risk exposure. 口。
The following table is the sensitivity analysis of exchange rate risk 下表為匯率風險的敏感性分析，反映了在其reflecting the impact on net profit (due to changes in the fair value 他變量不變的假設下，人民幣對美元在合理of monetary assets and liabilities) and shareholders’ equity when 的範圍內波動時，將對淨利潤（由於貨幣性資RMB fluctuates against USD within a reasonable range under the 產和貨幣性負債的公允價值變化）和股東權益
assumption that other variables remain unchanged. 產生的影響。
Increase/
(decrease) Increase/
in other (decrease) in
Increase/ Increase/ comprehensive total
(decrease) in (decrease) income net shareholders’
basis points in total profit of tax equity*其他綜合收益基點的利潤總額的的稅後淨額股東權益合計
增加╱（減少）增加╱（減少）增加╱（減少）增加╱（減少）*
RMB’000 RMB’000 RMB’000人民幣千元人民幣千元人民幣千元
31 December 2023 二零二三年十二月三十一日
RMB weakens against USD 人民幣對美元貶值 5% 1108938 – 1108938
RMB strengthens against USD 人民幣對美元升值 （5%） (1108938) – (1108938)
31 December 2022 二零二二年十二月三十一日
RMB weakens against USD 人民幣對美元貶值 5% 382795 – 382795
RMB strengthens against USD 人民幣對美元升值 （5%） (382795) – (382795)
* Excluding retained income and exchange differences on * 不包括留存收益和外幣報表折算差額
translation of foreign operationsAnnual Report 2023二零二三年年報293
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
3. Risks of financial instruments (continued) 3. 金融工具風險（續）
Market risk (continued) 市場風險（續）
Price risk of equity instrument investments 權益工具投資價格風險
Price risk of equity instrument investments is the risk that the fair 權益工具投資價格風險，是指權益性投資的values of equity investments decrease as a result of changes 公允價值因股票指數水平和個別證券價值、
in the levels of share indexes the value of individual securities 股權價值的變化而降低的風險。於二零二三and the equity value. As at 31 December 2023 the Group 年十二月三十一日，本集團暴露於因分類為was exposed to the price risk of equity instrument investments 以公允價值計量且其變動計入其他綜合收益
arising from the individual equity instrument investment classified 的權益工具投資和以公允價值計量且其變動
as equity instrument investment at fair value through other 計入當期損益的權益工具投資的個別權益工
comprehensive income and equity instrument investment at fair 具投資而產生的權益工具投資價格風險之
value through profit or loss. The Group manages this exposure by 下。本集團通過持有不同風險的投資組合來maintaining a portfolio of investments with different risks. 管理風險。
The following table demonstrates the sensitivity of the Group’s net 下表說明了，在所有其他變量保持不變的假profit or loss and other comprehensive income net of tax to every 設下，本集團的淨損益和其他綜合收益的稅
5% change (based on the carrying amounts at the balance sheet 後淨額對其他權益工具投資的公允價值的每date) in the fair values of other equity instrument investments 5%的變動（以資產負債表日的賬面價值為基under the assumption that all other variables remain unchanged. 礎）的敏感性。
31 December 2023 二零二三年十二月三十一日
Increase/
Carrying (decrease) Increase/
amounts Increase/ in other (decrease)
of equity (decrease) comprehensive in total
instrument in net profit income net shareholders’
investments or loss of tax equity權益工具其他綜合收益股東權益投資淨損益的稅後淨額合計
Financial assets 金融資產 賬面價值 增加╱(減少) 增加╱(減少) 增加╱(減少)
Equity instrument investments 權益工具投資 5327283 – 199773/(199773) 199773/(199773)294 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
3. Risks of financial instruments (continued) 3. 金融工具風險（續）
Market risk (continued) 市場風險（續）
Price risk of equity instrument investments (continued) 權益工具投資價格風險（續）
31 December 2022 二零二二年十二月三十一日
Increase/
Carrying (decrease) Increase/
amounts Increase/ in other (decrease)
of equity (decrease) comprehensive in total
instrument in net profit income net shareholders’
investments or loss of tax equity權益工具其他綜合收益股東權益投資淨損益的稅後淨額合計
Financial assets 金融資產 賬面價值 增加╱(减少) 增加╱(减少) 增加╱(减少)
Equity instrument investments 權益工具投資 4418584 – 165697/(165697) 165697/(165697)Annual Report 2023二零二三年年報295
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
4. Capital management 4. 資本管理
The primary objectives of the Group’s capital management are to 本集團資本管理的主要目標是確保本集團持
safeguard the Group’s ability to continue as a going concern and 續經營的能力，並保持健康的資本比率，以to maintain a healthy capital ratio in order to support its business 支持業務發展並使股東價值最大化。
development and maximise shareholders’ value.The Group manages its capital structure and makes adjustments 本集團根據經濟形勢以及相關資產的風險特
to it in the light of changes in economic conditions and in 徵的變化管理資本結構並對其進行調整。為the risk profiles of relevant assets. To maintain or adjust the 維持或調整資本結構，本集團可以調整對股capital structure the Group may adjust the dividend payment 東的利潤分配、向股東歸還資本或發行新
to shareholders return capital to shareholders or issue new 股。本集團不受外部強制性資本要求約束。
shares. The Group is not subject to any externally imposed 二零二三年度和二零二二年度，資本管理目capital requirements. In 2023 and 2022 there were no changes 標、政策或程序未發生變化。
in the objectives policies or processes of the Group’s capital
management.The Group manages its capital using a gearing ratio which is the 本集團採用槓桿比率來管理資本，槓桿比率ratio of net debt to net capital. The Group’s policy is to maintain 是指淨負債和淨資本的比率。本集團的政策the gearing ratio as low as possible. Net debt includes debt 為使該槓桿比率保持在盡量低的水平。淨負capital less the net value of monetary funds. Debt capital includes 債包括債務資本減去貨幣資金的淨值，債務short-term borrowings non-current liabilities due within one year 資本包括短期借款、一年內到期的非流動負
long-term borrowings bond payables and lease liabilities. Net 債、長期借款、應付債券和租賃負債，淨資capital represents shareholders’ equity attributable to the parent 產為歸屬於母公司股東權益。本集團於資產company. The Group’s gearing ratio as at the balance sheet date 負債表日的槓桿比率如下：
was as follows:
20232022
二零二三年二零二二年
Gearing ratio 資本負債率 (44%) (26%)
5. Hedge 5. 套期
Cash flow hedge 現金流量套期
Forward exchange contracts are designated by the Group as 本集團將外匯遠期合同指定為以美元、歐
hedging instruments in respect of future sales and purchases 元、日元計價結算的未來銷售和採購的套期
denominated and settled in USD EUR and JPY and the Group 工具，本集團對這些未來銷售和採購有確定has firm commitments to these future sales and purchases. 承諾。這些外匯遠期合同的餘額隨預期外幣The balances of the forward exchange contract vary with the 銷售和採購的規模以及遠期匯率的變動而變
scales of expected foreign currency sales and purchases and 化。外匯遠期合同的關鍵條款已進行商議從the changes in forward exchange rates. The key terms of the 而與所作承諾的條款相匹配，並無現金流量forward exchange contracts have been negotiated to match the 套期無效部分。財務報表中，將套期工具利terms of the commitments made with no ineffective portions of 得或損失中屬於套期有效的部分，直接確認cash flow hedges. In the financial statements the portion of the 為其他綜合收益。
gains or losses arising from the hedge that is effective is directly
recognised in other comprehensive income.296 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
5. Hedge (continued) 5. 套期（續）
Cash flow hedge (continued) 現金流量套期（續）
The time distribution and average exchange rate of the nominal 套期工具的名義金額的時間分佈以及平均匯
amounts of the hedging instruments are as follows: 率如下：
2023二零二三年
Within 6 to 12
6 months months After 1 year Total
6個月內6至12個月1年以後合計
Nominal amount of USD forward 美元遠期合同名義金額
exchange contracts 165109 – – 165109
Average exchange rate of RMB to USD 人民幣兌美元的平均匯率 7.09 – – 7.09
The changes in carrying amount and fair value of hedging 套期工具的賬面價值以及公允價值變動如
instruments are as follows: 下：
2023二零二三年
Changes in fair
value of hedging
instruments
used as a basis
Line items on for recognising
Nominal the balance the ineffective
amount of sheet that portion of
hedging Carrying amount of contain hedging hedging for
instruments hedging instruments instruments the year本年用作確認套期無效部分套期工具的包含套期工具的基礎的套期工具名義金額套期工具的賬面價值資產負債表列示項目公允價值變動
Assets Liabilities資產負債
Exchange rate risk – USD forward exchange contracts 165109 279 – Financial assets (38614)
held for trading
匯率風險–美元遠期外匯合約交易性金融資產
Exchange rate risk – EUR forward exchange contracts – – – N/A (32786)
匯率風險–歐元遠期外匯合約不適用
Exchange rate risk – JPY forward exchange contracts – – – N/A (8714)
匯率風險 – 日元遠期外匯合約 不適用Annual Report 2023二零二三年年報297
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
5. Hedge (continued) 5. 套期（續）
Cash flow hedge (continued) 現金流量套期（續）
The carrying amount of hedged items and related adjustments 被套期項目的賬面價值以及相關調整如下：
are as follows:
2023二零二三年
Changes in
fair value of
hedged items
used as a basis
Cumulative amount of Line items on for recognising
adjustments to fair value the balance the ineffective
hedge of hedged items sheet that portion of Cash flow
Nominal amount of (included in carrying amount contain hedging for hedging
hedging instruments of hedged items) hedged items the year reserves本年用作確認包含套期無效部分被套期項目公允價值被套期項目的基礎的套期調整的累計金額資產負債表被套期項目現金流量
套期工具的賬面價值（計入被套期項目的賬面價值）列示項目公允價值變動套期儲備
Assets Liabilities Assets Liabilities資產負債資產負債
Exchange rate risk – USD-settled – – – – N/A (3251) 279
expected transactions
匯率風險–美元結算的預期交易不適用
Exchange rate risk – EUR-settled – – – – N/A (32786) –
expected transactions
匯率風險–歐元結算的預期交易不適用
Exchange rate risk – Acquisition of – – – – Fixed assets (8714) –
fixed assets
匯率風險–固定資產採購固定資產
Exchange rate risk – Expected sales – – – – Bank deposit (35363) –
of US dollars which is very likely to
happen
匯率風險–極有可能發生的銀行存款
預測美元銷售298 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
5. Hedge (continued) 5. 套期（續）
Cash flow hedge (continued) 現金流量套期（續）
The effects of the cash flow hedge on the statement of profit or 套期工具公允價值變動在當期損益及其他綜
loss and the statement of other comprehensive income are as 合收益列示如下：
follows:
2023二零二三年
Total hedging Amount
(loss)/gain reclassified
recognized Hedge from other
in other ineffectiveness Line item in the comprehensive Line item in the
comprehensive recognised in statement of income to profit statement of
income profit or loss profit or loss or loss profit or loss計入其他綜合收益的套期包含已確認的從現金流量套期包含重分類工具的公允計入當期損益的套期無效部分的儲備重分類至調整的利潤表價值變動套期無效部分利潤表列示項目當期損益的金額列示項目
Exchange rate risk – USD forward (38614) – N/A 38893 Revenue from
exchange contracts 不適用 principal
匯率風險 – 美元遠期外匯合約 operations and
finance
expenses
主營業務收入、財務費用
Exchange rate risk – EUR forward (32786) – N/A 32786 Revenue from
exchange contracts 不適用 principal
匯率風險 – 歐元遠期外匯合約 operations主營業務收入
Exchange rate risk – JPY forward (8714) – N/A N/A N/A
exchange contracts 不適用 不適用 不適用
匯率風險 – 日元遠期外匯合約Annual Report 2023二零二三年年報299
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
5. Hedge (continued) 5. 套期（續）
Cash flow hedge (continued) 現金流量套期（續）
The effects of the cash flow hedge on the statement of profit or 套期工具公允價值變動在當期損益及其他綜
loss and the statement of other comprehensive income are as 合收益列示如下：（續）
follows: (continued)
2022二零二二年
Total hedging Amount
(loss)/gain reclassified
recognized Hedge from other
in other ineffectiveness Line item in the comprehensive Line item in the
comprehensive recognised in statement of income to profit statement of
income profit or loss profit or loss or loss profit or loss計入其他綜合收益的套期包含已確認的從現金流量套期包含重分類工具的公允計入當期損益的套期無效部分的儲備重分類至調整的利潤表價值變動套期無效部分利潤表列示項目當期損益的金額列示項目
Exchange rate risk – USD forward (8746) – N/A 8746 Revenue from
exchange contract 不適用 principal
匯率風險 – 美元遠期外匯合約 operations
主營業務收入300 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
X. RISKS ASSOCIATED WITH FINANCIAL 十、 與金融工具相關的風險（續）
INSTRUMENTS (CONTINUED)
6. Transfers of financial assets 6. 金融資產轉移
The transferred financial assets that have been derecognised as a 已整體終止確認但繼續涉入的已轉移金融資
whole but continue to be involved 產
In 2023 the Group carried out several discounting operations 於二零二三年度，本集團於多家銀行操作若for notes receivable with multiple banks and endorsed and 干應收票據貼現業務，並將若干銀行承兌匯transferred certain bank acceptance bills to other parties to settle 票背書轉移給其他方以支付同等金額的應付
equivalent amounts of payables. The Group believes that the 款項，本集團認為相關應收票據於貼現或背relevant notes receivable has transferred almost all of their risks 書時已經轉移了其幾乎所有的風險與報酬，and rewards upon discounting or endorsement meeting the 符合金融資產終止確認條件，因此於貼現日conditions for the derecognition of financial assets. Therefore 或背書日按照賬面價值全部終止確認相關應
on the discounting or endorsement date the relevant notes 收票據。二零二三年度，本集團通過貼現receivable was fully derecognised at their carrying amount. 和背書轉移的應收票據賬面價值為人民幣
In 2023 the carrying amount of notes receivable transferred 283634593千元。於二零二三年十二月三十through discounting and endorsement by the Group was 一日，因票據貼現和背書而終止確認但尚未RMB283634593000. As of 31 December 2023 the notes 到期的應收票據為人民幣91841294千元。
receivable that was derecognised but not yet fall due as the
discounting and endorsement amounted to RMB91841294000.As at 31 December 2023 there were no financial assets 於二零二三年十二月三十一日，無繼續涉入derecognised with the continuous involvement status. 的轉移金融資產。Annual Report 2023二零二三年年報301
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XI. DISCLOSURE OF FAIR VALUE 十一、 公允價值的披露
1. Assets and liabilities measured at fair value 1. 以公允價值計量的資產和負債
31 December 2023 二零二三年十二月三十一日
Fair value measurement using公允價值計量使用的輸入值
Quoted
prices Significant Significant
in active observable unobservable
markets inputs inputs活躍重要可觀察重要不可觀察市場報價輸入值輸入值
Level 1 Level 2 Level 3 Total
第一層次第二層次第三層次合計
Financial assets held for trading 交易性金融資產 – 9562550 – 9562550
Other equity instrument investments 其他權益工具投資 1014460 1297415 3015408 5327283
Other non-current financial assets 其他非流動金融資產 – 1225113 1471261 2696374
Receivables financing 應收款項融資 – 5564924 – 5564924
Total 合計 1014460 17650002 4486669 23151131
Financial liabilities held for trading 交易性金融負債 – 7713 – 7713
Total 合計 – 7713 – 7713302 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XI. DISCLOSURE OF FAIR VALUE (CONTINUED) 十一、 公允價值的披露（續）
1. Assets and liabilities measured at fair value (continued) 1. 以公允價值計量的資產和負債（續）
31 December 2022 二零二二年十二月三十一日
Fair value measurement using公允價值計量使用的輸入值
Quoted
prices Significant Significant
in active observable unobservable
markets inputs inputs活躍重要可觀察重要不可觀察市場報價輸入值輸入值
Level 1 Level 2 Level 3 Total
第一層次第二層次第三層次合計
Financial assets held for trading 交易性金融資產 – 20626930 – 20626930
Other equity instrument investments 其他權益工具投資 912173 1679286 1827125 4418584
Other current assets 其他流動資產 – 213257 – 213257
Other non-current financial assets 其他非流動金融資產 – 908294 1238846 2147140
Receivables financing 應收款項融資 – 12894284 – 12894284
Total 合計 912173 36322051 3065971 40300195
Financial liabilities held for trading 交易性金融負債 – 54605 – 54605
Total 合計 – 54605 – 54605
2. The fair value measurement in Level 1 2. 第一層次公允價值計量
The fair values of listed equity instrument investments are based 上市的權益工具投資，以市場報價確定公允on quoted market prices. 價值。Annual Report 2023二零二三年年報303
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XI. DISCLOSURE OF FAIR VALUE (CONTINUED) 十一、 公允價值的披露（續）
3. The fair value measurement in Level 2 3. 第二層次公允價值計量
The Group enters into derivative financial instruments contracts 本集團與銀行訂立了衍生金融工具合同，為which are the foreign currency forward contracts with banks 外匯遠期合同，採用類似於遠期定價以及現and adopts valuation techniques similar to forward pricing 值方法的估值技術進行計量。模型涵蓋了多and present value methods for measurement. The model 個市場可觀察到的輸入值，包括交易對手的incorporates various market observable inputs including the 信用質量、即期和遠期匯率和利率曲線。外credit quality of counterparties and foreign exchange spot and 匯遠期合同的賬面價值與公允價值相同。於forward rates and yield curve. The carrying amounts of foreign 二零二三年十二月三十一日，衍生金融資產currency forward contracts are the same as their fair values. As 的盯市價值，是抵銷了歸屬於衍生工具交易at 31 December 2023 the mark to market value of derivative 對手違約風險的信用估值調整之後的淨值。
financial assets is the net value after offsetting the credit valuation 交易對手信用風險的變化，對於套期關係中adjustment attributable to the default risk of derivative instrument 指定衍生工具的套期有效性的評價和其他以
counterparties. The change of counterparty credit risk has no 公允價值計量的金融工具，均無重大影響。
significant impact on the evaluation of hedging effectiveness of
designated derivatives in hedging relationship and other financial
instruments measured at fair value.For the wealth management products at fair value through profit 以公允價值計量且其變動計入損益的理財產
or loss and receivables financing the Group will estimate their fair 品、應收款項融資，本集團會利用條款及風values by using a discounted cash flow valuation model based 險相類似的工具之市場利率按照貼現現金流
on the market interest rates of instruments with similar terms 量估值模型估算公允價值。以公允價值計量and risks. For the equity instruments at fair value the Group will 的權益工具，本集團以市場數據和估值模型estimate their fair values based on a combination of market data 相結合為基礎估算公允價值。
and valuation models.
4. The fair value measurement in Level 3 4. 第三層次公允價值計量
The Group’s finance department is responsible for determining 本集團的財務部負責制定金融工具公允價值
the policies and procedures for the fair value measurement of 計量的政策和程序，並直接向主管會計機構financial instruments and reports directly to the person in charge 負責人。每個資產負債表日，財務部分析金of accounting institution. At each balance sheet date the finance 融工具價值變動，確定估值適用的主要輸入department analyses the movements in the values of financial 值，並經主管會計機構負責人審核批准。
instruments and determines the major inputs applied in the
valuation. The valuation is reviewed and approved by the person
in charge of accounting institution.304 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XI. DISCLOSURE OF FAIR VALUE (CONTINUED) 十一、 公允價值的披露（續）
4. The fair value measurement in Level 3 (continued) 4. 第三層次公允價值計量（續）
For investments in restricted shares and unlisted equity 對於限售股票、非上市的權益工具投資，利instruments the Group adopts the recent transaction method 用近期交易法或者採用估值技術來確定其公
or applies valuation techniques to determine their fair value 允價值，估值技術包括市場乘數法、期權定while valuation techniques include market multiplier method 價模型等。其公允價值的計量採用了重要的option pricing models etc. The measurement of fair value uses 不可觀察參數，比如企業價值╱收入（「EV/significant unobservable parameters including enterprise value- Revenue」）比率、流動性折扣、波動率、投
to-revenue (“EV/Revenue”) ratio liquidity discount volatility 資標的淨值等。持續第三層次公允價值計量investment underlying net value etc. The financial instruments 的金融工具對這些不可觀察輸入值的合理變
measured at the fair value in Level 3 on a recurring basis was 動無重大敏感性。本集團相信，以估值技術not significantly sensitive to a reasonable change in these 估計的公允價值及其變動，是合理的，並且unobservable inputs. The Group believes that the estimated fair 亦是於資產負債表日最合適的價值。
values resulting from the valuation technique and the related
changes in fair values are reasonable and they were the most
appropriate values at the balance sheet date.Below is the summary of significant unobservable inputs for main 如下為主要的第三層次公允價值計量的重要
fair value measurement in Level 3: 不可觀察輸入值概述：
31 December 2023 二零二三年十二月三十一日
Fair value
at the end of Range (the weighted
the year Valuation technique Unobservable inputs average value)
年末公允價值估值技術不可觀察輸入值範圍區間（加權平均值）
Other equity instrument investments 1682140 Market approach Average EV/Revenue ratio 1.15-18.49
其他權益工具投資市場法平均企業價值╱收入比率
Average EV/ EBITDA ratio 2.22-21.67
平均企業價值╱息稅折舊前利潤比率
Average EV/ Net profit 51.72
margin
平均企業價值╱淨利潤比率
Other equity instrument investments 1333268 Option pricing model Volatility of underlying 27.60%-47.83%
asset price其他權益工具投資期權定價模型標的資產價格的波動率
Other non-current financial assets 99216 Option pricing model Volatility of underlying 10.31%
asset price其他非流動金融資產期權定價模型標的資產價格的波動率
Other non-current financial assets 1372045 Investment underlying Net value of underlying RMB64453000 to
net value method investment RMB35884267000
其他非流動金融資產投資標的淨值法投資標的的淨值人民幣64453千元–
人民幣35884267千元Annual Report 2023二零二三年年報305
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XI. DISCLOSURE OF FAIR VALUE (CONTINUED) 十一、 公允價值的披露（續）
4. The fair value measurement in Level 3 (continued) 4. 第三層次公允價值計量（續）
31 December 2022 二零二二年十二月三十一日
Fair value
at the end of Range (the weighted average
the year Valuation technique Unobservable inputs value)
年末公允價值估值技術不可觀察輸入值範圍區間（加權平均值）
Other equity instrument investments 1413857 Market approach Average EV/Revenue ratio 0.75-1.6
其他權益工具投資市場法平均企業價值╱收入比率
Average EV/ EBITDA ratio 15.88-18.46
平均企業價值╱息稅折舊前利潤比率
P/E ratio 23.14市盈率
P/B ratio 4.3市淨率
Other equity instrument investments 413268 Option pricing model Volatility of underlying asset 35.47%-60.27%
price其他權益工具投資期權定價模型標的資產價格的波動率
Other non-current financial assets 1238846 Investment underlying net Net value of underlying RMB519451000 to
value method investment RMB34115279000
其他非流動金融資產投資標的淨值法投資標的的淨值人民幣519451千元–人民幣34115279千元
5. The adjustment information of continuous fair value 5. 持續第三層次公允價值計量的調節信息
measurement in Level 3
Below is the adjustment information of continuous fair value 持續的第三層次公允價值計量的調節信息如
measurement in Level 3: 下：
2023二零二三年
Total gains or losses當期利得或損失總額
Changes in
unrealised
gains or losses
Through of assets held
at the end
Through other of the year
Transfer to Transfer out profit or comprehensive through profit
Opening balance Level 3 of level 3 loss income Purchases Closing balance or loss年末持有的資產計入損益的當期未實現計入其他利得或損失年初餘額轉入第三層次轉出第三層次計入損益綜合收益購買年末餘額的變動
Other equity instrument 其他權益工具
investments 投資 1827125 1229687 (24670) – (66736) 50002 3015408 –
Other non-current financial 其他非流動
assets 金融資產 1238846 114278 – (100458) – 218595 1471261 (100458)
3065971 1343965 (24670) (100458) (66736) 268597 4486669 (100458)306 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XI. DISCLOSURE OF FAIR VALUE (CONTINUED) 十一、 公允價值的披露（續）
5. The adjustment information of continuous fair value 5. 持續第三層次公允價值計量的調節信息
measurement in Level 3 (continued) （續）
2022二零二二年
Total gains or losses當期利得或損失總額
Changes in
unrealised
gains or losses
of assets held
Through at the end
Through other of the year
Transfer to Transfer out profit comprehensive through profit
Opening balance Level 3 of level 3 or loss income Purchases Closing balance or loss年末持有的資產計入損益的當期未實現年初計入其他年末利得或損失餘額轉入第三層次轉出第三層次計入損益綜合收益購買餘額的變動
Other equity instrument 其他權益工具
investments 投資 803387 257797 (33257) – 679603 119595 1827125 –
Other non-current financial 其他非流動
assets 金融資產 194787 40000 – 23269 – 980790 1238846 23269
998174 297797 (33257) 23269 679603 1100385 3065971 23269Annual Report 2023
二零二三年年報307
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XI. DISCLOSURE OF FAIR VALUE (CONTINUED) 十一、 公允價值的披露（續）
6. Transfers among continuous fair value hierarchies 6. 持續公允價值計量的層次轉換
In 2023 the other equity instrument investment held by the Group 二零二三年度，本集團持有的其他權益工具had quotations in an active market due to the release of lock- 投資因限售期解除，存在活躍市場報價，其up period and its fair value was transferred from Level 3 to Level 公允價值從第三層次轉入第一層次，轉移金
1 with a transfer amount of RMB24670000. Certain financial 額為人民幣24670千元。本集團部分金融
instruments of the Group were valued using Level 3 valuation 工具因無法獲取可觀察輸入值而採用第三層
techniques as there were no observable inputs available and 次估值技術予以估值，並將其公允價值從第their fair values were transferred from Level 2 to Level 3 with a 二層次轉移到第三層次，轉移金額為人民幣transfer amount of RMB1343965000. In addition there were no 1343965千元。除此之外，二零二三年度other significant transfers among fair value hierarchies of financial 本集團金融工具的公允價值層次之間無其他
instruments of the Group in 2023. 重大轉移。
In 2022 the other equity instrument investment held by the Group 二零二二年度，本集團持有的其他權益工具had quotations in an active market due to the release of lock- 投資因限售期解除，存在活躍市場報價，其up period and its fair value was transferred from Level 3 to Level 公允價值從第三層次轉入第一層次，轉移金
1 with a transfer amount of RMB33257000. Certain financial 額為人民幣33257千元。本集團部分金融工
instruments of the Group were valued using Level 3 valuation 具因無法獲取可觀察輸入值而採用第三層次
techniques as there were no observable inputs available and 估值技術予以估值，並將其公允價值從第二their fair values were transferred from Level 2 to Level 3 with a 層次轉移到第三層次，轉移金額為人民幣transfer amount of RMB297797000. In addition there were no 297797千元。除此之外，二零二二年度本other significant transfers among fair value hierarchies of financial 集團金融工具的公允價值層次之間無其他重
instruments of the Group in 2022. 大轉移。
7. The change of valuation techniques 7. 估值技術變更
There is no change of valuation techniques by the Group in 2023. 二零二三年度，本集團未發生變更估值技術的情況。
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易
TRANSACTIONS
1. Related parties with controlling relationship 1. 存在控制關係的關聯方
Number of
shares in Percentage of Percentage of
Name Relationship with the Group the Company shareholdings voting rights名稱與本企業關係佔本公司股份持股比例表決權比例
Wang Chuan-fu The largest shareholder and chairman of the Company 518351550 17.81% 17.81%
王傳福公司第一大股東、董事長
Note: The total number and proportion of shares held by Mr. 註： 王傳福先生持股總數及持股比例中均包
Wang Chuan-fu include 1000000 H shares held by him 括持有的1000000股H股股份，也包括as well as the 3727700 A shares held by Mr. Wang 王傳福先生通過易方達資產比亞迪增持
Chuan-fu in No.1 Assets Management Plan through E 1號資產管理計劃持有的3727700股A
Fund BYD. 股股份。308 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
2. Subsidiaries 2. 子公司
Details of the subsidiaries are set out in Note VIII.1. 子公司詳見附註八、1。
3. Joint ventures and associates 3. 合營企業和聯營企業
Except for the important joint ventures and associates disclosed 除附註八、2披露的重要合營企業和聯營企
in Note VIII.2 other joint ventures and associates having 業外，與本集團發生交易的其他合營企業和transactions with the Group are as follows: 聯營企業如下：
Company’s name Relationship with related parties公司名稱關聯方關係
Tianjin BYD Auto Co. Ltd. Joint venture天津比亞迪汽車有限公司合營企業
Shenzhen Shell BYD Electric Vehicle Investment Co. Ltd. Associate深圳殼牌比亞迪電動汽車投資有限公司聯營企業
Shenzhen BYD International Financial Leasing Co. Ltd. Joint venture深圳比亞迪國際融資租賃有限公司合營企業
Hangzhou BYD Xihu New Energy Auto Co. Ltd. Joint venture杭州西湖比亞迪新能源汽車有限公司合營企業
Guangzhou Guang Qi BYD New Energy Bus Co. Ltd. Joint venture廣州廣汽比亞迪新能源客車有限公司合營企業
Xi’an Infrastructure Yadi Automobile Service Co. Ltd. Joint venture西安城投亞迪汽車服務有限責任公司合營企業
Beijing Hualin Loading Co. Ltd. Joint venture
北京華林特裝車有限公司 合營企業Annual Report 2023二零二三年年報309
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
3. Joint ventures and associates (continued) 3. 合營企業和聯營企業（續）
Company’s name Relationship with related parties公司名稱關聯方關係
Yinchuan Sky Rail Operation Co. Ltd. Associate銀川雲軌運營有限公司聯營企業
Tianjin Hongdi Financial Lease Co. Ltd. Associate天津宏迪融資租賃有限公司聯營企業
Meihao Travel (Hangzhou) Automotive Technology Co. Ltd. Joint venture
美好出行（杭州）汽車科技有限公司合營企業
BYD TOYOTA EV Technology Co. Ltd. Joint venture比亞迪豐田電動車科技有限公司合營企業
Shenzhen Micro Grid Digital Battery Technology Co. Ltd. Associate深圳市微網數電科技有限公司聯營企業
Shenzhen Dipai Zhixing Technology Co. Ltd. Joint venture深圳市迪派智行科技有限公司合營企業
LA SkyRail Express Holding LLC Joint venture合營企業
Guangdong CHNBEL Energy Technology Co. Ltd. Associate廣東中貝能源科技有限公司聯營企業
Shangshui Smartech Ltd. Associate
深圳市尚水智能股份有限公司 聯營企業310 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
3. Joint ventures and associates (continued) 3. 合營企業和聯營企業（續）
Company’s name Relationship with related parties公司名稱關聯方關係
BYD UZBEKISTAN FACTORY LLC Joint venture合營企業
Tianjin Sanying Precision Instruments Co. Ltd. Associate天津三英精密儀器股份有限公司聯營企業
Advanced Materials Technology & Engineering Inc. Associate無錫邑文微電子科技股份有限公司聯營企業
Shan Mei Ling Qiu Bi Xing Industry Development Co. Ltd. Associate山煤靈丘比星實業開發有限公司聯營企業
Foshan Greifen New Energy Co. Ltd. Associate佛山市格瑞芬新能源有限公司聯營企業
Xiamen VIA Intelligent Technology Co. Ltd. Associate廈門微亞智能科技股份有限公司聯營企業
Allystar Technology (Shenzhen) Co. Ltd. Associate深圳華大北斗科技股份有限公司聯營企業
Hebei Haiwei Electronic New Material Technology Co. Ltd. Associate
河北海偉電子新材料科技股份有限公司 聯營企業Annual Report 2023二零二三年年報311
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
4. Other related parties 4. 其他關聯方
Company’s name Relationship with related parties公司名稱關聯方關係
UBTECH ROBOTICS CORP LTD A non-executive director of the Company is a director of this company深圳市優必選科技股份有限公司本公司一名非執行董事為該公司董事
Youngy Investment Holding Group Co. Ltd. A non-executive director of the Company is a director of this company融捷投資控股集團有限公司本公司一名非執行董事為該公司董事
Onyx International Inc. Co. Ltd. A non-executive director of the Company is a director of this company廣州文石信息科技有限公司本公司一名非執行董事為該公司董事
Sichuan Changhe Huali Technology This company is indirectly controlled by a non-executive director of the
Co. Ltd. Company四川長和華鋰科技有限公司該公司是本公司一名非執行董事間接控制的公司
Chengdu Youngy Lithium Technology This company is indirectly controlled by a non-executive director of the
Co. Ltd. Company成都融捷鋰業科技有限公司該公司是本公司一名非執行董事間接控制的公司
Sichuan Road & Bridge Group Co. Ltd. A senior management of the Company is a director of this company四川路橋建設集團股份有限公司本公司一名高級管理人員為該公司董事
Shenzhen Energy Sales & Service Co. Ltd. A senior management of the Company was a director of this company in
the past 12 months
深電能科技集團有限公司過去十二個月內，本公司一名高管管理人員為該公司董事Youngy Co. Ltd. A non-executive director of the Company is a director of this company融捷股份有限公司本公司一名非執行董事為該公司董事
Dongguan Tec-Rich Engineering Co. Ltd. This company is indirectly controlled by a non-executive director of the
Company
東莞市德瑞精密設備有限公司 該公司是本公司一名非執行董事間接控制的公司312 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
5. Major transactions between the Group and related 5. 本集團與關聯方的主要交易
parties
(1) Related party transactions of goods and services (1) 關聯方商品及勞務交易
Purchase of goods and accepting service from related 自關聯方購買商品和接受勞務
parties
Transaction Excess of
limit transaction
Details of transactions 2023 approved limit 2022是否超過交易內容二零二三年獲批的交易額度交易額度二零二二年
Joint ventures Purchase of goods and accepting 1165970 1650000 No 600077
service 否合營企業採購商品和接受勞務
Associates Purchase of goods and accepting 11270006 22717002 No 10329729
service 否聯營企業採購商品和接受勞務
Other related parties Purchase of goods and accepting 338697 1349229 No 1108850
service 否其他關聯方採購商品和接受勞務
Total
合計 12774673 25716231 12038656Annual Report 2023二零二三年年報313
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
5. Major transactions between the Group and related 5. 本集團與關聯方的主要交易（續）
parties (continued)
(1) Related party transactions of goods and services (1) 關聯方商品及勞務交易（續）
(continued)
Sales of goods and rendering of services to related 向關聯方銷售商品及提供勞務
parties
Details of transactions 2023 2022交易內容二零二三年二零二二年
Joint ventures Sales of goods and rendering of 2268738 973447
services合營企業出售商品和提供勞務
Associates Sales of goods and rendering of 443317 490093
services聯營企業出售商品和提供勞務
Other related parties Sales of goods and rendering of 288187 28165
services其他關聯方出售商品和提供勞務
Total
合計 3000242 1491705314 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
5. Major transactions between the Group and related 5. 本集團與關聯方的主要交易（續）
parties (continued)
(2) Leases with related parties (2) 關聯方租賃
As lessees 作為承租人
2023二零二三年
Lease
payments for Variable
short-term lease
leases and payments
leases of not included
low-value in the Interest
assets with measurement expenses Additions to
Type of simplified of lease Rental on lease right-of-use
leased assets approach liabilities paid liabilities assets簡化處理的短期租賃和低價值資產未納入租賃租賃的負債計量的可承擔的租賃增加的使用租賃資產種類租金費用變租賃付款額支付的租金負債利息支出權資產
Hangzhou BYD Xihu New Energy Auto Co. Ltd. Housing – – 3035 122 5121杭州西湖比亞迪新能源汽車有限公司房屋
Tianjin BYD Auto Co. Ltd. Housing – – 3640 114 5279天津比亞迪汽車有限公司房屋
Total
合計 – – 6675 236 10400Annual Report 2023二零二三年年報315
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
5. Major transactions between the Group and related 5. 本集團與關聯方的主要交易（續）
parties (continued)
(2) Leases with related parties (continued) (2) 關聯方租賃（續）
As lessees (continued) 作為承租人（續）
2022二零二二年
Lease
payments for Variable
short-term lease
leases and payments
leases of not included
low-value in the Interest
assets with measurement expenses Additions to
Type of simplified of lease Rental on lease right-of-use
leased assets approach liabilities paid liabilities assets簡化處理的短期租賃和低價值資產未納入租賃租賃的負債計量的可承擔的租賃增加的使用租賃資產種類租金費用變租賃付款額支付的租金負債利息支出權資產
Hangzhou BYD Xihu New Energy Auto Co. Ltd. Housing – – 4998 185 1412杭州西湖比亞迪新能源汽車有限公司房屋
Tianjin BYD Auto Co. Ltd. Housing – – 3697 120 –天津比亞迪汽車有限公司房屋
Xi’an Infrastructure Yadi Automobile Service
Co. Ltd. Equipment – – 19 – –西安城投亞迪汽車服務有限責任公司設備
Total
合計 – – 8714 305 1412316 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
5. Major transactions between the Group and related 5. 本集團與關聯方的主要交易（續）
parties (continued)
(3) Providing guarantees to related parties (3) 為關聯方提供擔保
Loan guarantees 借款擔保
2023二零二三年
Whether
guarantee
Guarantee Commencement has been
amount date of guarantee Maturity date of guarantee performed擔保是否擔保金額擔保起始日擔保到期日履行完畢
BYD Auto Finance Co. Ltd. 18245150 6 February 2023 – 29 August 2024 – No
27 December 2023 27 December 2027
比亞迪汽車金融有限公司二零二三年二月六日至二零二四年八月二十九日至否二零二三年十二月二十七日二零二七年十二月二十七日
Tianjin Hongdi Financial Lease 33283 31 December 2023 10 December 2024 No
Co. Ltd.天津宏迪融資租賃有限公司二零二三年十二月三十一日二零二四年十二月十日否
MCC Ramu New Energy 39500 5 January 2022 5 April 2030 No
Technology Co. Ltd.中冶瑞木新能源科技有限公司二零二二年一月五日二零三零年四月五日否
Hubei Energy Storage Co. Ltd. 1298 1 February 2019 1 February 2026 No
儲能電站（湖北）有限公司 二零一九年二月一日 二零二六年二月一日 否Annual Report 2023二零二三年年報317
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
5. Major transactions between the Group and related 5. 本集團與關聯方的主要交易（續）
parties (continued)
(4) Transfer of related parties assets (4) 關聯方資產轉讓
Details of transaction 2023 2022交易內容二零二三年二零二二年
Joint ventures Disposal of fixed assets
合營企業出售固定資產–5803
Associates Disposal of fixed assets
聯營企業出售固定資產–27172
Other related parties Disposal of fixed assets
其他關聯方出售固定資產––
Joint ventures Purchase of fixed assets合營企業購買固定資產91568823
Associates Purchase of fixed assets聯營企業購買固定資產587310858986
Other related parties Purchase of fixed assets
其他關聯方購買固定資產336354–
932820 900784318 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
5. Major transactions between the Group and related 5. 本集團與關聯方的主要交易（續）
parties (continued)
(5) Others (5) 其他
20232022
二零二三年二零二二年
Key Management Compensation 關鍵管理人員薪酬 123371 92651
The share-based payment expense recognised in 2023 本公司關鍵管理階層獲授的二零二二
for the 2022 Employee Share Ownership Plan granted 年員工持股計劃於二零二三年年確
to key management personnel of the Company was 認的股份支付費用為人民幣42875千
RMB42875000. The above compensation does not 元，上述薪酬未包含該項金額。
include this amount.
6. Balance of related parties receivables and payables 6. 關聯方應收應付款項餘額
(1) Receivables (1) 應收款項
20232022
二零二三年二零二二年
Provision Provision
Book for Book for
balance bad debts balance bad debts賬面餘額壞賬準備賬面餘額壞賬準備
Joint ventures 合營企業 2044479 651160 1906392 153550
Associates 聯營企業 152234 27355 492786 44192
Other related parties 其他關聯方 48045 83 – –
2244758 678598 2399178 197742Annual Report 2023
二零二三年年報319
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XII. RELATED PARTIES AND RELATED PARTY 十二、 關聯方關係及其交易（續）
TRANSACTIONS (CONTINUED)
6. Balance of related parties receivables and payables 6. 關聯方應收應付款項餘額（續）
(continued)
(2) Payables (2) 應付款項
20232022
二零二三年二零二二年
Joint ventures 合營企業 379093 409868
Associates 聯營企業 3857503 4165081
Other related parties 其他關聯方 352222 89944
45888184664893
The amounts due from and due to related parties are 應收應付關聯方款項均不計利息、無
interest-free and unsecured. 擔保。
7. Monetary funds deposited with related parties 7. 存放關聯方的貨幣資金
20232022
二零二三年二零二二年
BYD Auto Finance Co. Ltd. 比亞迪汽車金融有限公司 3505856 4738542
The annual interest rate of the above deposits in 2023 is 二零二三年，上述存款年利率按照中國人民
3.1%–3.2% above the benchmark interest rate published by the 銀行公佈的同期存款基準利率上浮為3.1%-
People’s Bank of China for deposits of the same period and an 3.2%，二零二三年度確認利息收入人民幣interest income of RMB174280000 was recognised in 2023 174280千元（二零二二年度：3%-3.2%，確
(2022: 3%–3.2% and an interest income of RMB298688000 認利息收入人民幣298688千元）。
was recognised).320 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XIII. SHARE-BASED PAYMENTS 十三、 股份支付
1. 2022 Employee Share Ownership Plan of the Group 1. 二零二二年本集團之員工持股計劃
On 22 April 2022 BYD Company Limited held the twenty-first 二零二二年四月二十二日，比亞迪股份有限meeting of the Seventh Session of the Board of Directors of BYD 公司召開比亞迪股份有限公司（以下簡稱「公Company Limited (the “Company”) at which the resolution in 司」）第七屆董事會第二十一次會議，審議通relation to the 2022 Employee Share Ownership Plan (Draft) of 過了《比亞迪股份有限公司二零二二年員工BYD Company Limited and its summary was considered and 持股計劃（草案）》及其摘要的議案，擬對比approved. It was proposed to implement the 2022 Employee 亞迪股份有限公司職工代表監事、高級管理Share Ownership Plan of BYD Company Limited (the “Employee 人員以及比亞迪集團的中層管理人員、核心Share Ownership Plan”) for the employee representative 骨幹員工實施《比亞迪股份有限公司二零二supervisors and senior management of BYD Company Limited 二年員工持股計劃》（以下簡稱「員工持股計and the mid-level management and core backbone employees 劃」）。公司於二零二二年五月二十七日召開of BYD Group. The Employee Share Ownership Plan was 二零二二年第一次臨時股東大會，審議通過considered and approved at the 2022 First Extraordinary General 了員工持股計劃。公司通過回購專用證券Meeting of the Company held on 27 May 2022. The Company 賬戶以集中競價交易的方式累計回購A股股
repurchased a total of 5511024 A shares through the designated 份的數量為5511024股，佔公司總股本的securities account for repurchase by way of centralised bidding 0.189%，並於二零二二年六月完成回購，二transactions accounting for 0.189% of the total share capital 零二二年七月完成過戶登記。本員工持股計of the Company. The repurchase was completed in June 2022 劃認購價0元╱股，參與對象無需出資。本and the transfer registration was completed in July 2022. The 員工持股計劃的存續期為48個月，自本員工subscription price of the Employee Share Ownership Plan is 持股計劃經股東大會審議通過且公司公告最
RMB0 per share and no capital contribution is required to be 後一筆標的股票過戶至本員工持股計劃名下
made by the participants. The term of the Employee Share 之日起算。
Ownership Plan shall be 48 months from the date on which the
Employee Share Ownership Plan is considered and approved at
the general meeting and the Company announces that the last
batch of the underlying shares is transferred to the Employee
Share Ownership Plan.Annual Report 2023二零二三年年報321
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XIII. SHARE-BASED PAYMENTS (CONTINUED) 十三、 股份支付（續）
2. 2020 Share Option Incentive Scheme of the Group’s 2. 二零二零年本集團之子公司比亞迪半導體
subsidiary BYD Semiconductor 股權期權激勵計劃
On 10 May 2021 and 16 June 2021 the Company held the 二零二一年五月十日及二零二一年六月十六
11th Meeting of the Seventh Session of the Board and the 日，本公司分別召開第七屆董事會第十一次extraordinary general meeting respectively during which the 會議及臨時股東大會，審議通過了《關於比Company considered and approved the Resolution on Proposed 亞迪半導體股份有限公司擬實施股權激勵計Implementation of the Share Option Incentive Scheme by BYD 劃的議案》，批准採納比亞迪半導體股份有Semiconductor Company Limited and approved the adoption of 限公司二零二零年股權期權激勵計劃（「子公the 2020 Share Option Incentive Scheme of BYD Semiconductor 司股權期權計劃」）。子公司股權期權激勵計Company Limited (the “Subsidiary Share Option Scheme”). The 劃向包括比亞迪半導體的董事（不包括獨立Subsidiary Share Option Scheme granted 33088200 share 非執行董事）、高級管理人員、核心骨幹人
options to 36 incentive grantees including directors (excluding 員（但不包括監事）在內的36個激勵對象授予
independent non-executive directors) senior management 3308.82萬份股權期權，佔比亞迪半導體當and core key personnel (but excluding supervisors) of BYD 時註冊資本的比例為7.353%。
Semiconductor representing 7.353% of the then registered
capital of BYD Semiconductor.The share opt ions granted under the Subsidiary Share 本次子公司股權期權計劃授予的股權期權分
Option Scheme shall be exercised in three tranches and the 三次行權，對應的等待期分別為自授予日起corresponding vesting periods shall be 24 months 36 months 24個月、36個月、48個月。
and 48 months from the date of grant respectively.The equity instruments granted are as follows: 授予的各項權益工具如下：
Exercised for the year Vested for the year Lapsed for the year本年行權本年解鎖本年失效
Quantity Amount * Quantity Amount * Quantity Amount *
數量金額*數量金額*數量金額*
Sales personnel 銷售人員 781 3544 140 37125 498 2261
Management personnel 管理人員 3428 15562 562 148707 1689 7668
Research personnel 研發人員 2010 9127 746 197117 1501 6815
Manufacturing and other 製造及其他人員
personnel – – 205 54202 – –
Total 合計 6219 28233 1653 437151 3688 16744
* Calculat ing according to the fair values of vested equity * 以解鎖的權益工具在解鎖日的公允價值計算
instruments at the vesting date322 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XIII. SHARE-BASED PAYMENTS (CONTINUED) 十三、 股份支付（續）
The equity instruments outstanding as at the end of the year are 年末發行在外的各項權益工具如下：
as follows:
Subsidiary share options Other equity instruments子公司股票期權其他權益工具
The range of The remaining The range of The remaining
option price life of contract option price life of contract行權價格的合同剩餘行權價格的合同剩餘範圍期限範圍期限
Sales personnel 銷售人員 RMB4.54 5 - 17 months RMB0 per share 7 - 19 months
per share 5個月-17個月 0元╱股 7個月-19個月
4.54元╱股
Management personnel 管理人員 RMB4.54 5 - 17 months RMB0 per share 7 - 19 months
per share 5個月-17個月 0元╱股 7個月-19個月
4.54元╱股
Research personnel 研發人員 RMB4.54 5 - 17 months RMB0 per share 7 - 19 months
per share 5個月-17個月 0元╱股 7個月-19個月
4.54元╱股
Manufacturing and other 製造及其他人員 – – RMB0 per share 7 - 19 months
personnel 0元╱股 7個月-19個月Annual Report 2023二零二三年年報323
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XIII. SHARE-BASED PAYMENTS (CONTINUED) 十三、 股份支付（續）
Equity-settled share-based payments are as follows: 以權益結算的股份支付情況如下：
2023
二零二三年
The determination of the fair value of equity instrument 授予日權益工具公允價值的確定方法 Based on the
as at the date of grant closing price of
the shares on the
date of grant
or the binomial
model to
determine根據授予日股票收盤價或是二項式模型確定
The important parameters of the fair value of equity 授予日權益工具公允價值的重要參數 Based on the
instrument as at the date of grant closing price of
the shares on the
date of grant;
or the expected
volatility or the
risk-free
interest rate授予日股票收盤價；
或是預計波動率、無風險利率
The basis for determining the quantity of equity 可行權權益工具數量的確定依據 Based on the
instruments available for exercise best estimate of
the management管理層的最佳估計數
The reason for the significant difference between the 本年估計與上年估計有重大差異的 Nil
current year’s estimate and the previous year’s estimate 原因 無
The cumulative amount of equity-settled share-based 以權益結算的股份支付計入資本 1097562
payments credited to in capital reserve 公積的累計金額324 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XIII. SHARE-BASED PAYMENTS (CONTINUED) 十三、 股份支付（續）
The share-based payments incurred during the year are as 本年度發生的股份支付費用如下：
follows:
Equity-settled
share-based
payments以權益結算的股份支付費用
Sales personnel 銷售人員 84166
Management personnel 管理人員 247643
Research personnel 研發人員 398844
Manufacturing and other personnel 製造及其他人員 141536
Total 合計 872189
XIV. COMMITMENTS AND CONTINGENT EVENTS 十四、 承諾及或有事項
1. Material commitments 1. 重要承諾事項
20232022
二零二三年二零二二年
Capital commitments 資本承諾 35727463 41434155
Investment commitments 投資承諾 535527 759139
36262990 42193294Annual Report 2023
二零二三年年報325
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XIV. COMMITMENTS AND CONTINGENT EVENTS 十四、 承諾及或有事項（續）
(CONTINUED)
2. Contingent events 2. 或有事項
Contingent liabilities arising from pending litigation or arbitration 未決訴訟或仲裁形成的或有負債及其財務影
and its financial impact 響
Action against Foxconn 富士康訴訟案件
On 11 June 2007 a Hong Kong High Court (the “Court”) action 於二零零七年六月十一日，富士康國際控股(the “June 2007 Action”) was commenced by a subsidiary of 有限公司旗下一間下屬子公司及一間與其同
Foxconn International Holdings Limited and a company jointly 受最終控股公司控制的公司（「原告」）向香港
controlled by its ultimate holding company (the “Plaintiffs”) 高等法院（「法院」）展開訴訟（「二零零七年六against the Company and certain subsidiaries of the Group 月訴訟」），指控本公司及本集團若干下屬子(the “Defendants”) for using confidential information alleged to 公司（「被告」）使用指稱自原告處非法獲得的
have been obtained improperly from the Plaintiffs. The Plaintiffs 機密資料。原告已於二零零七年十月五日停discontinued the June 2007 Action on 5 October 2007 without 止二零零七年六月訴訟，針對被告的二零零any liability to the Defendants. On the same day the plaintiffs 七年六月訴訟被全面撤銷，同時該訴訟未判initiated a new set of legal proceedings in the Hong Kong High 令被告承擔任何責任。同日，原告向香港高Court (the “October 2007 Action”). The Defendants named in 等法院提起新一輪的法律程序（「二零零七年the October 2007 Action are the same as the Defendants in the 十月訴訟」）。二零零七年十月訴訟的被告與June 2007 Action and the claims made by the Plaintiffs in the 二零零七年六月訴訟的被告相同，且原告在October 2007 Action are based on the same facts and grounds 二零零七十月訴訟中提出的申索均基於二零
in the June 2007 Action. The remedies sought by the Plaintiffs 零七年六月訴訟中的相同事實及理由。原告in the October 2007 Action include an injunction restraining the 在二零零七年十月訴訟中提出的補救方法包
Defendants from using the alleged confidential information an 括強令禁止被告使用有關機密資料、強令被
order for the disgorgement of profit made by the Defendants 告交出因使用機密資料所獲得的利潤以及賠
through the use of the confidential information damages based 償原告遭受的損失及支付懲罰性賠償金。原on the loss suffered by the Plaintiffs and exemplary penalties. The 告在二零零七年十月訴訟中主張的賠償金總
total damages sought by the Plaintiffs in the October 2007 Action 金額尚未確定。二零零九年十月二日，被告have not been quantified. On 2 October 2009 the Defendants 對富士康國際控股有限公司及其某些附屬子
instituted a counter-action against Foxconn International Holdings 公司提起反訴，對該等公司自二零零六年以Limited and certain of its subsidiaries for their intervention 來利用不合法手段干涉本公司及控股子公司
by means of illegal measures in the operations involving the 的經營、共謀行為、書面及口頭誹謗，導致Company and certain of its subsidiaries collusion written and 經濟損失的行為提出訴訟請求。
verbal defamation and the economic loss as a result of the said
activities since 2006.326 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XIV. COMMITMENTS AND CONTINGENT EVENTS 十四、 承諾及或有事項（續）
(CONTINUED)
2. Contingent events (continued) 2. 或有事項（續）
Contingent liabilities arising from pending litigation or arbitration 未決訴訟或仲裁形成的或有負債及其財務影
and its financial impact (continued) 響（續）
Action against Foxconn (continued) 富士康訴訟案件（續）
As of the date of the this report the case is still in proceedings. 截至本報告日，該案件仍在訴訟程序中。在With the assistance of the legal adviser responsible for the case 代表本公司負責該案件的法律顧問協助下，on behalf of the Company the Board believes that the final result 董事會認為，該訴訟的最終結果及賠償義務of the proceeding and compensation obligations (if any) cannot （如有）不能可靠的估計。
be estimated reliably.The contingent liabilities arising from the guarantee provided by 本集團提供擔保形成的或有負債及其財務影
the Group and its financial impact are as follows: 響列示如下：
20232022
二零二三年二零二二年
Guarantees that the Company can 就授予子公司的融資能夠向銀行提供
provide to banks for financing granted 的擔保額度
to subsidiaries 115028008 102279134Annual Report 2023二零二三年年報327
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XIV. COMMITMENTS AND CONTINGENT EVENTS 十四、 承諾及或有事項（續）
(CONTINUED)
2. Contingent events (continued) 2. 或有事項（續）
The contingent liabilities arising from the guarantee provided by 本集團提供擔保形成的或有負債及其財務影
the Group and its financial impact are as follows: (continued) 響列示如下：（續）
As at 31 December 2023 the actual guarantees provided 於二零二三年十二月三十一日，本公司為by the Company for its subsidiaries and related parties were 其子公司及關聯方實際提供的擔保為人民
RMB43872398000 and RMB18319231000 (31 December 幣43872398千元及人民幣18319231千2022: RMB23180113000 and RMB13468762000). 元（二零二二年十二月三十一日：人民幣
23180113千元及人民幣13468762千元)。
The Group entered into cooperation contracts and documents 本集團與某些客戶（含終端客戶）及第三方或
with certain customers (including end customers) and third parties 關聯融資機構簽訂合作合同及文件，根據相or related financial institutions. According to the arrangements of 關合作合同及文件的安排，本公司向該等融the relevant cooperation contracts and documents the Company 資機構承擔回購義務，若客戶違約或發生合undertakes the repurchase obligations to these financial 同約定的特定條件，本公司繼承全部債權以institutions. If a customer defaults or specific conditions stipulated 及相關權益，並有權自行采取收回並變賣新in the contract occur the Company inherits all the creditor’s 能源汽車等救濟措施，以償付客戶對融資機rights and related interests and has the right to take relief 構的剩餘欠款，並保留任何對剩餘欠款債權measures such as recovery and sale of new energy vehicles to 餘額進行追索的權利。管理層認為，收回的repay the remaining debts owed by the customer to the financing 資產能够變賣，而變賣收入基本能够支付對融資機構的剩餘欠款。截至二零二三年十二institution and would reserve the right to pursue recourse
月三十一日，本集團對該等義務的最大敞口for the balance of the creditor’s rights. Management is of the為人民幣1615016千元（二零二二年十二月opinion that the recovered assets will be able to be realised and三十一日：人民幣3395512千元），且未發the proceeds from the sales will basically cover the remaining生因客戶違約或合同約定的特定條件而令本
debts due to the financing institutions. As of 31 December公司需予以支付任何款項的情況。
2023 the Group’s maximum exposure to these obligations was
RMB1615016000 (31 December 2022: RMB3395512000)
and there was no customer default or specific conditions as
stipulated in the contracts which the Company was required to
make any payment.The Group made an impairment on financial guarantee contracts 本集團以預期信用損失為基礎，對財務擔保and recognised a loss al lowance of RMB61984000 (31 合同進行減值處理並確認損失準備人民幣December 2022: RMB78794000) based on expected credit 61984千元（二零二二年十二月三十一日：人losses. 民幣78794千元）。328 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XV. EVENTS AFTER THE BALANCE SHEET DATE 十五、 資產負債表日後事項
The 2023 proposed profit distribution plan was approved at the 經二零二四年三月二十六日本公司第八屆董
Sixth Meeting of the Eighth Session of the Board of the Company 事會第六次會議批准二零二三年度利潤分配
held on 26 March 2024. Based on the total share capital of 預案，以二零二四年三月二十六日總股本
2911142855 shares as at 26 March 2024 a cash dividend of 2911142855股為基數，分配現金股利人RMB9012243000 (i.e. a cash dividend of RMB3.096 per share 民幣9012243千元（即每股現金股利人民幣(tax inclusive)) will be distributed. The dividend distribution plan is 3.096元（含稅）），該股利分配方案尚待股東subject to consideration and approval at the general meeting. 大會審議批准。
XVI. OTHER SIGNIFICANT MATTERS 十六、 其他重要事項
1. Segment reporting 1. 分部報告
Operating segment 經營分部
For management purposes the Group is organised into business 出於管理目的，本集團根據產品和服務劃分units based on their products and services. The Group currently 業務單元。本集團目前有二個報告分部，分has two reportable segments as follows: 別如下：
a) the mobile handset components assembly service and a) 手機部件、組裝及其他產品分部包括
other products segment comprises the manufacture and 製造和銷售外殼等手機及電子產品部
sale of mobile handset components such as housings 件並提供整機組裝服務；
and electronic components and the provision of assembly
services;
b) the automobiles and related products and other products b) 汽車、汽車相關產品及其他產品分部
segment comprises the manufacture and sale of 包括製造和銷售汽車、汽車相關的模
automobiles and auto-related molds and components and 具及零部件、汽車租賃和汽車的售後
automobile leasing and after sales services automobile 服務、汽車動力電池、鋰離子電池、
power batteries l ithium-ion batteries photovoltaic 光伏產品以及鐵電池產品、軌道交通
products and iron battery products rail transport and its 及其相關業務。
related business.Annual Report 2023二零二三年年報329
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVI. OTHER SIGNIFICANT MATTERS (CONTINUED) 十六、 其他重要事項（續）
1. Segment reporting (continued) 1. 分部報告（續）
Operating segment (continued) 經營分部（續）
Management monitors the results of the Group’s operating 管理層出於配置資源和評價業績的決策目
segments separately for the purpose of making decisions about 的，對各業務單元的經營成果分開進行管resources allocation and performance assessment. Segment 理。分部業績以報告的分部利潤為基礎進行performance is evaluated based on reportable segment profit. 評價。該指標系對利潤總額進行調整後的指The adjusted profit before tax is measured consistently with the 標，除不包括公允價值變動損益、財務費用Group’s profit before tax except that gains or losses arising from （除租賃負債利息支出和匯兌損益）、營業外
changes in fair value finance costs (excluding interest expenses 收入、其他收益、資產處置損失、營業外支on lease liabilities and exchange gains or losses) non-operating 出、投資收益（除對聯營企業和合營企業的投income other income losses on disposal of assets non- 資收益外）、銷售房產收入、對應的成本和稅
operating expenses investment income (excluding investment 費以及本公司作為集團總部發生的管理費用
income from associates and joint ventures) income from sales of 之外，該指標與本集團利潤總額是一致的。
properties the corresponding costs and tax expenses as well as
administrative expenses incurred by the Company as the Group’s
headquarter are excluded from such measurement.Segment assets exclude deferred tax assets goodwill financial 分部資產不包括遞延所得稅資產、商譽、交
assets held for trading other equity instrument investments other 易性金額資產、其他權益工具投資、其他非
non-current financial assets investment properties and assets 流動金融資產、投資性房地產和本公司作為
occupied by the Company as the Group’s headquarter as these 集團總部佔用的資產，原因在於這些資產均assets are managed on a group basis. 由本集團統一管理。
Segment liabilities exclude deferred income tax liabilities tax 分部負債不包括遞延所得稅負債、應交稅
payable other current liabilities other non-current liabilities short- 費、其他流動負債、其他非流動負債、短期
term borrowings long-term borrowings bonds payable interest 借款、長期借款、應付債券、其他應付款中
payable and dividends payable in other payables financial 的應付利息和應付股利、交易性金融負債和
liabilities held for trading and liabilities assumed by the Company 本公司作為集團總部而負擔的負債，原因在as the Group’s headquarter as these liabilities are managed on a 於這些負債均由本集團統一管理。
group basis.Transfer pricing in operating segments is determined with 經營分部間的轉移定價，按照經營分部間的reference to the agreed price among operating segments. 協議價格制定。330 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVI. OTHER SIGNIFICANT MATTERS (CONTINUED) 十六、 其他重要事項（續）
1. Segment reporting (continued) 1. 分部報告（續）
Operating segment (continued) 經營分部（續）
Mobile handset
components Automobiles
assembly and related Adjustments
service and products and and
other products other products eliminations Total
手機部件、汽車、汽車組裝及相關產品及
2023二零二三年其他產品其他產品調整和抵銷合計
Revenue from external trading 對外交易收入 118576910 483453318 285126 602315354
Revenue from inter-segment trading 分部間交易收入 12851640 5780354 (18631994) –
Total 合計 131428550 489233672 (18346868) 602315354
Share of investment income from joint 對合營和聯營企業的投資收益
ventures and associates – 1277455 – 1277455
Depreciation and amortization 折舊及攤銷 3135373 40417346 – 43552719
Total profit 利潤總額 4334950 31107896 1825791 37268637
Income tax expense 所得稅費用 646739 5277828 – 5924567
Capital expenditure (Note) 資本性支出（註） 4013630 136729178 – 140742808
Total assets 資產總額 81841877 591428013 6277780 679547670
Total liabilities 負債總額 36028854 449129096 43927607 529085557
Other disclosures 其他披露
Long-term equity investments in joint 對合營和聯營企業的
ventures and associates 長期股權投資 – 17647212 – 17647212Annual Report 2023二零二三年年報331
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVI. OTHER SIGNIFICANT MATTERS (CONTINUED) 十六、 其他重要事項（續）
1. Segment reporting (continued) 1. 分部報告（續）
Operating segment (continued) 經營分部（續）
Mobile handset
components Automobiles
assembly and related Adjustments
service and products and and
other products other products eliminations Total
手機部件、汽車、汽車組裝及相關產品及
2022二零二二年其他產品其他產品調整和抵銷合計
Revenue from external trading 對外交易收入 98815054 324691175 554406 424060635
Revenue from inter-segment trading 分部間交易收入 8765310 3971744 (12737054) –
Total 合計 107580364 328662919 (12182648) 424060635
Share of losses of joint ventures and 對合營和聯營企業的投資損失
associates – (685885) – (685885)
Depreciation and amortization 折舊及攤銷 2832736 17537269 – 20370005
Total profit 利潤總額 1893303 18642184 544242 21079729
Income tax expense 所得稅費用 87367 3196757 82501 3366625
Capital expenditure (Note) 資本性支出（註） 5210486 125075440 – 130285926
Total assets 資產總額 54625520 419691469 19543657 493860646
Total liabilities 負債總額 22020698 326023534 24426577 372470809
Other disclosures 其他披露
Long-term equity investments in joint 對合營和聯營企業的
ventures and associates 長期股權投資 – 15485402 – 15485402
Note: Capital expenditure includes the acquisition of fixed assets 註： 資本性支出包括購置固定資產、無形資
and intangible assets etc. 產等。332 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVI. OTHER SIGNIFICANT MATTERS (CONTINUED) 十六、 其他重要事項（續）
1. Segment reporting (continued) 1. 分部報告（續）
Other information 其他信息
Geographical information 地區信息
Operating revenue 營業收入
20232022
二零二三年二零二二年
PRC (including Hong Kong 中國（包括港澳台地區）
Macau and Taiwan) 442093854 332607435
Overseas 境外 160221500 91453200
602315354424060635
Revenue from external trading is attributed to the location of 對外交易收入按客戶所處區域統計。
customers.Total non-current assets 非流動資產總額
20232022
二零二三年二零二二年
PRC (including Hong Kong 中國（包括港澳台地區）
Macau and Taiwan) 343398654 238541045
Overseas 境外 6753730 3078914
350152384241619959
Non-current assets exclude goodwill other equity instrument 非流動資產按該資產所處區域統計，不包括investments other non-current financial assets long-term 商譽、其他權益工具投資、其他非流動金融
receivables and deferred income tax assets attributed to the 資產、長期應收款和遞延所得稅資產。
region where the assets are located.Information about major customers 主要客戶信息
In 2023 operating revenue of RMB63387758000 (2022: 二零二三年的營業收入人民幣63387758千
RMB47760432000) was derived from sales to a single 元（二零二二年：人民幣47760432千元）為
customer. 對某一單個客戶的收入。Annual Report 2023二零二三年年報333
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVI. OTHER SIGNIFICANT MATTERS (CONTINUED) 十六、 其他重要事項（續）
2. #Directors’ and supervisors’ remuneration 2. #董事及監事薪酬
Directors’ and supervisors’ remuneration for the year disclosed 按照上市規則、香港公司條例第383(1)(a)、
pursuant to the Listing Rules section 383(1)(a) (b) (c) and (f) (b)、(c)及(f)條和公司（披露董事利益資料）規
of the Hong Kong Companies Ordinance and Part 2 of the 例第2部，本年度董事及監事的薪酬披露如Companies (Disclosure of Information about Benefits of Directors) 下：
Regulation is as follows:
The remuneration of directors and supervisors is as follows: 董事及監事薪酬如下：
31 December 31 December
20232022
二零二三年二零二二年十二月十二月三十一日三十一日
Fees 袍金 1140 1000
Other emoluments: 其他薪酬：
Salaries allowances and benefits 工資、津貼及福利 13842 11252
Pension scheme contributions 養老金計劃 138 120
Total 合計 15120 12372
Note: The share-based payment expenses recognised in 2023 for 註： 本公司監事獲授的二零二二年員工持股
the 2022 Employee Share Ownership Plan granted to the 計劃，於二零二三年確認的股份支付費supervisors of the Company was RMB581000 which is not 用為人民幣581千元，未包含在上述薪included in the above remuneration (2022: RMB344000). 酬中（二零二二年：人民幣344千元）。
There was no arrangement under which a director or a supervisor 本年度不存在董事或監事放棄或同意放棄任
waived or agreed to waive any remuneration and no emoluments 何酬金，本集團無向本公司董事或監事支付paid by the Group to a director or a supervisor of the Company 任何酬金，作為鼓勵加入或加入本集團的薪as an inducement to join or upon joining the Group or as 金，或作為離職補償（二零二二年：無）。
compensation for loss of office during the year (2022: nil).334 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVI. OTHER SIGNIFICANT MATTERS (CONTINUED) 十六、 其他重要事項（續）
2. #Directors’ and supervisors’ remuneration (continued) 2. #董事及監事薪酬（續）
Independent non-executive directors: 獨立非執行董事：
31 December 31 December
20232022
二零二三年二零二二年十二月十二月三十一日三十一日
Mr. Cai Hong-ping 蔡洪平先生 228 200
Mr. Zhang Min 張敏先生 228 200
Ms. Yu Ling (Note 1) 喻玲女士（註1） 84
Mr. Jiang Yan-bo (Note 2) 蔣岩波先生(註2) 144 200
Total 合計 684 600
Note 1: Ms. Yu Ling was appointed as a director on 19 September 註1： 喻玲女士於二零二三年九月十九日獲委
2023 and her remuneration for 2023 covers the period from 任為董事，其於二零二三年的薪酬金額
19 September to 31 December. 涵蓋九月十九日至十二月三十一日期間。
Note 2: Mr. Jiang Yan-bo resigned as a director on 19 September 註2： 蔣岩波先生於二零二三年九月十九日辭
2023 and his remuneration for 2023 overs the period from 1 任董事，其於二零二三年的薪酬金額涵
January to 19 September. 蓋一月一日至九月十九日期間。
Executive director non-executive directors and supervisors: 執行董事、非執行董事及監事：
2023二零二三年
Salaries Pension
allowances scheme
Fees and benefits contributions Total
工資、津貼袍金及福利養老金計劃總額
Executive director 執行董事
Mr. Wang Chuan-fu 王傳福先生 – 6565 46 6611
Non-executive directors 非執行董事
Mr. Lv Xiang-yang 呂向陽先生 228 – – 228
Mr. Xia Zuo-quan 夏佐全先生 228 – – 228
Supervisors 監事
Mr. Dong Jun-qing (Note 1) 董俊卿先生(註1) – 72 – 72
Mr. Li Yong-zhao 李永釗先生 – 128 – 128
Ms. Wang Zhen 王珍女士 – 5025 46 5071
Ms. Zhu Ai-yun (Note 2) 朱愛雲女士(註2) – 56 – 56
Mr. Huang Jiang-feng 黃江鋒先生 – 128 – 128
Ms. Tang Mei 唐梅女士 – 1868 46 1914
Total 合計 456 13842 138 14436Annual Report 2023二零二三年年報335
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVI. OTHER SIGNIFICANT MATTERS (CONTINUED) 十六、 其他重要事項（續）
2. #Directors’ and supervisors’ remuneration (continued) 2. #董事及監事薪酬（續）
2022二零二二年
Salaries Pension
allowances scheme
Fees and benefits contributions Total
工資、津貼袍金及福利養老金計劃總額
Executive director 執行董事
Mr. Wang Chuan-fu 王傳福先生 – 6107 40 6147
Non-executive directors 非執行董事
Mr. Lv Xiang-yang 呂向陽先生 200 – – 200
Mr. Xia Zuo-quan 夏佐全先生 200 – – 200
Supervisors 監事
Mr. Dong Jun-qing 董俊卿先生 – 100 – 100
Mr. Li Yong-zhao 李永釗先生 – 100 – 100
Ms. Wang Zhen 王珍女士 – 3539 40 3579
Mr. Huang Jiang feng 黃江鋒先生 – 100 – 100
Ms. Tang Mei 唐梅女士 – 1306 40 1346
Total 合計 400 11252 120 11772
Note 1: Mr. Dong Jun-qing resigned as a supervisor on 19 註1： 董俊卿先生於二零二三年九月十九日辭
September 2023 and his remuneration for 2023 covers 任監事，其於二零二三年的薪酬金額涵the period from 1 January to 19 September. 蓋一月一日至九月十九日期間。
Note 2: Ms. Zhu Ai-yun was appointed as a supervisor on 19 註2： 朱愛雲女士於二零二三年九月十九日獲
September 2023 and her remuneration for 2023 covers 委任為監事，其於二零二三年的薪酬涵the period from 19 September to 31 December. 蓋九月十九日至十二月三十一日期間。336 BYD Company Limited比亞迪股份有限公司Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVI. OTHER SIGNIFICANT MATTERS (CONTINUED) 十六、 其他重要事項（續）
3. #Five highest paid employees of the Group during the 3. #本集團本年度薪酬最高的前五名僱員
year
The five highest paid employees of the Group during the year 本集團本年度薪酬最高的前五名僱員均為非
were all non-director employees (2022: nil) details of the 董事僱員（二零二二年：無），二零二三年董directors’ remuneration in 2023 are set out above. Details of the 事的薪酬詳見上文。其餘詳情如下：
remuneration for the remaining are as follows:
20232022
二零二三年二零二二年
Salaries allowances and benefits 工資、津貼及福利 61295 44781
Pension scheme contributions 養老金計劃 230 183
6152544964
Note: The share-based payment expense recognised in 2023 for 註： 上述前五名僱員獲授的二零二二年員工
the 2022 Employee Share Ownership Plan granted to the five 持股計劃，於二零二三年確認的股份支employees above was RMB4287000 which is not included 付費用為人民幣4287千元，未包含在in the above remuneration (2022: RMB8668000). 上述薪酬中（二零二二年：人民幣8668千元）。
The number of non-director highest paid employees whose 屬於以下薪酬範圍的非董事最高薪酬僱員人
remuneration fell within the following bands is as follows: 數如下：
20232022
二零二三年二零二二年
RMB8500001 to RMB10000000 人民幣8500001元至人民幣10000000元 – 5
RMB10000001 to RMB11500000 人民幣10000001元至人民幣11500000元 2 –
RMB11500001 to RMB13000000 人民幣11500001元至元人民幣13000000元 – –
RMB13000001 to RMB14500000 人民幣13000001元至人民幣14500000元 3 –
55
There were no emoluments paid by the Group to five highest paid 本集團無向本年度薪酬最高的前五名僱員支
employees during the year as an inducement to join the Group or 付任何酬金，作為鼓勵加入本集團的薪金，as compensation for loss of office (2022: nil). 或作為離職補償（二零二二年：無）。Annual Report 2023二零二三年年報337
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVI. OTHER SIGNIFICANT MATTERS (CONTINUED) 十六、 其他重要事項（續）
4. #Net current assets 4. #淨流動資產
20232022
二零二三年二零二二年
Current assets 流動資產 302121446 240803507
Less: current liabilities 減：流動負債 453666671 333344561
Net current liabilities 淨流動負債 (151545225) (92541054)
5. #Total assets less current liabilities 5. #總資產減流動負債
20232022
二零二三年二零二二年
Total assets 總資產 679547670 493860646
Less: current liabilities 減：流動負債 453666671 333344561
Total assets less current liabilities 總資產減流動負債 225880999 160516085338 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋
FINANCIAL STATEMENTS OF THE COMPANY
1. Trade receivables 1. 應收賬款
The aging of trade receivables is recognized based on the time 應收賬款賬齡按收入確認的時間予以確認。
of revenue recognition. The aging analysis of trade receivables 應收賬款的賬齡分析如下：
is as follows:
20232022
二零二三年二零二二年
Within 1 year 1年以內 1642764 1561395
1 to 2 years 1年至2年 2678 1766
2 to 3 years 2年至3年 1725 1
Total 合計 1647167 1563162
Less: provision for bad debts of trade 減：應收賬款壞賬準備
receivables 4437 6277
16427301556885
2023:二零二三年：
Carrying
Book balance Provision for bad debt amount賬面餘額壞賬準備賬面價值
Percentage Provision
Amount (%) Amount rate (%)金額比例金額計提比例
(%)(%)
Provision for bad debt based 單項計提壞賬準備
on individual assessment – – – – –
Provision for bad debt based 按信用風險特徵組合計提壞
on collective assessment by 賬準備
credit risk portfolio 1647167 100.00 4437 0.27 1642730
Total 合計 1647167 4437 1642730Annual Report 2023二零二三年年報339
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
1. Trade receivables (continued) 1. 應收賬款（續）
2022:二零二二年：
Carrying
Book balance Provision for bad debt amount賬面餘額壞賬準備賬面價值
Percentage Provision
Amount (%) Amount rate (%)金額比例金額計提比例
(%)(%)
Provision for bad debt based 單項計提壞賬準備
on individual assessment – – – – –
Provision for bad debt based 按信用風險特徵組合計提壞
on collective assessment by 賬準備
credit risk portfolio 1563162 100.00 6277 0.40 1556885
Total 合計 1563162 6277 1556885
As at 31 December 2023 trade receivables with provision 於二零二三年十二月三十一日，組合計提壞for bad debt based on collective assessment are shown as 賬準備的應收賬款情況如下：
follows:
Provision Provision
Book for rate
balance impairment (%)
賬面餘額減值準備計提比例(%)
Within 1 year (inclusive) 1年以內（含1年） 1642764 3814 0.23
Over 1 year 1年以上 4403 623 14.15
16471674437
As at 31 December 2022 trade receivables with provision 於二零二二年十二月三十一日，組合計提壞for bad debt based on collective assessment are shown as 賬準備的應收賬款情況如下：
follows:
Provision Provision
Book for rate
balance impairment (%)
賬面餘額減值準備計提比例(%)
Within 1 year (inclusive) 1年以內（含1年） 1561395 6192 0.40
Over 1 year 1年以上 1767 85 4.81
1563162 6277340 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
1. Trade receivables (continued) 1. 應收賬款（續）
The movements of provision for bad debt of trade receivables 應收賬款壞賬準備的變動如下：
are as follows:
Provision
Opening for Reversal in Write-off Closing
balance the year the year in the year balance年初餘額本年計提本年轉回本年核銷年末餘額
31 December 2023 二零二三年十二月三十一日 6277 1093 (2933) – 4437
31 December 2022 二零二二年十二月三十一日 85689 13625 (13720) (79317) 6277
As at 31 December 2023 there was no individual provision 於二零二三年十二月三十一日，無單項計提made for bad debts of trade receivables (31 December 2022: 壞賬準備的應收賬款。（二零二二年十二月三nil). 十一日：無）。
In 2023 and 2022 there was no significant reversal or recovery 於二零二三年度及二零二二年度，無重大的of trade receivables. 應收賬款轉回或收回情況。
In 2023 and 2022 there was no significant write-off of trade 於二零二三年度及二零二二年度，無重大的receivables. 應收賬款核銷情況。
As at 31 December 2023 the top five trade receivables 於二零二三年十二月三十一日，應收賬款金amounts are as follows: 額前五名如下：
Percentage
of total
trade Provision
receivables for
Amount (%) bad debts佔應收賬款總額的比例壞賬準備
金額(%)金額
The largest customer in balance of trade 應收賬款餘額第一大客戶
receivables 1197437 72.70 2754
The second largest customer in balance 應收賬款餘額第二大客戶
of trade receivables 155966 9.47 359
The third largest customer in balance of 應收賬款餘額第三大客戶
trade receivables 58380 3.54 134
The fourth largest customer in balance of 應收賬款餘額第四大客戶
trade receivables 45801 2.78 105
The fifth largest customer in balance of 應收賬款餘額第五大客戶
trade receivables 33281 2.02 77
1490865 90.51 3429Annual Report 2023
二零二三年年報341
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
2. Other receivables 2. 其他應收款
20232022
二零二三年二零二二年
Dividends receivables 應收股利 7940000 1350000
Other receivables 其他應收款 18470735 4485397
264107355835397
Other receivables 其他應收款
Other receivables analysed by nature were as follows: 其他應收款按性質分類如下：
20232022
二零二三年二零二二年
Receivables from subsidiaries 應收子公司款項 18448786 4286574
Guarantee deposits and deposits 保證金及押金 200 87
Others 其他 40203 203197
184891894489858
Less: bad debt provision for other receivables 減：其他應收款壞賬準備 18454 4461
184707354485397
The aging analysis of other receivables is as follows: 其他應收款的賬齡分析如下：
20232022
二零二三年二零二二年
Within 1 year 1年以內 18486541 4489800
Over 1 year 1年以上 2648 58
184891894489858
Less: bad debt provision for other receivables 減：其他應收款壞賬準備 18454 4461
18470735 4485397342 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
2. Other receivables (continued) 2. 其他應收款（續）
The change of provision for bad debts for other receivables 其他應收款按照12個月預期信用損失及整個
based on the 12-months expected credit losses and the 存續期預期信用損失分別計提的壞賬準備的
lifetime expected credit losses are as follows: 變動如下：
2023二零二三年
Stage 1 Stage 2 Stage 3
第一階段第二階段第三階段
Financial
assets
Lifetime with credit
expected impairment
credit losses occurred
12-months (no credit (credit
expected impairment impairment
credit losses incurred) incurred) Total整個存續期整個存續期未來12個月預期信用預期信用預期信用損失（未發生損失（已發生損失信用減值)信用減值)合計
Opening balance 年初餘額 4461 – – 4461
Opening balance transfer 年初餘額在本年
during the year 階段轉換
Provision for the year 本年計提 13993 – – 13993
Reversal for the year 本年轉回 – – – –
Write-off during the year 本年轉銷 – – – –
Charge-off during the year 本年核銷 – – – –
Other changes 其他變動 – – – –
Closing balance 年末餘額 18454 – – 18454Annual Report 2023二零二三年年報343
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
2. Other receivables (continued) 2. 其他應收款（續）
Other receivables (continued) 其他應收款（續）
2022二零二二年
Stage 1 Stage 2 Stage 3
第一階段第二階段第三階段
Lifetime Lifetime
expected expected
credit losses credit losses
12-months (no credit (credit
expected impairment impairment
credit losses incurred) incurred) Total整個存續期整個存續期未來12個月預期信用預期信用預期信用損失（未發生損失（已發生損失信用減值)信用減值）合計
Opening balance 年初餘額 10896 – – 10896
Opening balance transfer 年初餘額在本年
during the year 階段轉換 – – – –
Provision for the year 本年計提 – – – –
Reversal for the year 本年轉回 (6435) – – (6435)
Write-off during the year 本年轉銷 – – – –
Charge-off during the year 本年核銷 – – – –
Other changes 其他變動 – – – –
Closing balance 年末餘額 4461 – – 4461344 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
2. Other receivables (continued) 2. 其他應收款（續）
As at 31 December 2023 the top five other receivables 於二零二三年十二月三十一日，其他應收款amounts are as follows: 金額前五名如下：
Percentage
Closing of total other Provision for
balance Aging receivables (%) bad debts佔其他應收款總額的比例
年末餘額賬齡(%)壞賬準備
The largest customer in balance of other receivables 13412130 Within 1 year 72.54 13412其他應收款餘額第一大客戶一年以內
The second customer in balance of other receivables 5023445 Within 1 year 27.17 5023其他應收款餘額第二大客戶一年以內
The third customer in balance of other receivables 5450 Within 1 year 0.03 5其他應收款餘額第三大客戶一年以內
The fourth customer in balance of other receivables 2527 Within 1 year 0.01 3其他應收款餘額第四大客戶一年以內
The fifth customer in balance of other receivables 1747 Within 1 year 0.01 2其他應收款餘額第五大客戶一年以內
18445299 99.76 18445Annual Report 2023
二零二三年年報345
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
3. Long-term equity investments 3. 長期股權投資
31 December 2023 二零二三年十二月三十一日
Changes for the year本年變動
Investment Allowance Impairment
Other gains under Other Other Cash for Closing provision
Opening Increase of increase Decrease of equity comprehensive equity dividend impairment carrying at the end
balance investment (Note) investment method income movements declared provision amount of the year其他增加權益法下其他其他宣告計提年末年末
年初餘額追加投資（註）減少投資投資收益綜合收益權益變動現金股利減值準備賬面價值減值準備
Cost method: 成本法：
BYD USA Co. Ltd. 比亞迪美國有限公司 248 – – – – – – – – 248 –
BYD Europe 比亞迪歐洲公司 755 – – – – – – – – 755 –
BYD Lithium Battery Co. Ltd. 深圳市比亞迪鋰電池有限
公司6498996–40532––––––6539528–
SHANGHAI BYD COMPANY LIMITED 上海比亞迪有限公司 382894 – 8017 – – – – – – 390911 –
BYD Auto Co. Ltd. 比亞迪汽車有限公司 4230793 – 23114 – – – – – – 4253907 –
BYD (H.K.) Co. Limited 比亞迪（香港）有限公司 32508 – – – – – – – – 32508 –
Shanghai BYD Electric Vehicle Co. Ltd. 上海比亞迪電動車有限公司 9000 – – – – – – – – 9000 –
Beijing BYD Mould Co. Ltd. 北京比亞迪模具有限公司 66981 – 3921 – – – – – – 70902 –
Shenzhen BYD Auto R&D Co. Ltd. 深圳市比亞迪汽車研發有限
公司5000––(5000)–––––––
BYD Auto Sales Co. Ltd. 比亞迪汽車銷售有限公司 58349 – 9987 – – – – – – 68336 –346 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
3. Long-term equity investments (continued) 3. 長期股權投資（續）
31 December 2023 (continued) 二零二三年十二月三十一日（續）
Changes for the year本年變動
Investment Allowance Impairment
Other gains under Other Other Cash for Closing provision
Opening Increase of increase Decrease of equity comprehensive equity dividend impairment carrying at the end
balance investment (Note) investment method income movements declared provision amount of the year其他增加權益法下其他其他宣告計提年末年末
年初餘額追加投資（註）減少投資投資收益綜合收益權益變動現金股利減值準備賬面價值減值準備
BYD Semiconductor Company 比亞迪半導體股份有限公司
Limited 536461 – 7680 – – – – – – 544141 –
BYD JAPAN BYD JAPAN株式會社 16153 – – – – – – – – 16153 –
BYD Auto Industry Company 比亞迪汽車工業有限公司
Limited 23892239 – 230586 – – – – – – 24122825 –
Huizhou BYD Industrial Co. Ltd. 惠州比亞迪實業有限公司 555508 – 179 – – – – – – 555687 –
Huizhou BYD Battery Co. Ltd. 惠州比亞迪電池有限公司 115543 – 2693 – – – – – – 118236 –
Shenzhen Chuangxin Materials 深圳比亞迪創芯材料有限公
Co. Ltd. 司 11820 – – – – – – – – 11820 –
Shangluo BYD Industrial Co. Ltd. 商洛比亞迪實業有限公司 1001618 – 514 – – – – – – 1002132 –
BYD (Shenzhen) Supply Chain 深圳市比亞迪供應鏈管理有
Management Co. Ltd. 限公司 3500014 – 24 – – – – – – 3500038 –
Shenzhen BYD Investment 深圳市比亞迪投資管理有限
Management Co. Ltd. 公司 20000 – – – – – – – – 20000 –
BYD Construction Engineering 比亞迪建設工程有限公司
Co. Ltd. 104278 – 2202 – – – – – – 106480 –
BYD Signal & Communication Company 比亞迪通信信號有限公司
Limited 118982 – 7184 – – – – – – 126166 –
Shenzhen FinDreams Venture Capital 深圳市弗迪創業投資有限
Co. Ltd. 公司 3000 – – – – – – – – 3000 –
Shenzhen FinDreams Financial Leasing 深圳弗迪融資租賃有限公司
Co. Ltd. 750050 3000000 60 – – – – – – 3750110 –Annual Report 2023二零二三年年報347
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
3. Long-term equity investments (continued) 3. 長期股權投資（續）
31 December 2023 (continued) 二零二三年十二月三十一日（續）
Changes for the year本年變動
Investment Allowance Impairment
Other gains under Other Other Cash for Closing provision
Opening Increase of increase Decrease of equity comprehensive equity dividend impairment carrying at the end
balance investment (Note) investment method income movements declared provision amount of the year其他增加權益法下其他其他宣告計提年末年末
年初餘額追加投資（註）減少投資投資收益綜合收益權益變動現金股利減值準備賬面價值減值準備
FinDreams Technology Co. Ltd. 弗迪科技有限公司 100458 – 231 – – – – – – 100689 –
FinDreams Battery Co. Ltd. 弗迪電池有限公司 300038 – 50 – – – – – – 300088 –
Yichun BYD Mining Co. Ltd. 宜春比亞迪礦業有限責任
公司65000––––––––65000–
Shenzhen FinDreams Batteries Co. Ltd. 深圳弗迪電池有限公司 – – – – – – – – – – –
Others (share-based payment) 其他（股份支付） 58827 – 48111 – – – – – – 106938 –
Equity method 權益法
BYD Auto Finance Co. Ltd. 比亞迪汽車金融有限公司 8516603 – – – 1044661 – – – – 9561264 –
Other joint ventures 其他合營企業 308145 – – – (35773) – – – – 272372 –
Chengxin Lithium Group Co. Ltd. 盛新鋰能集團股份
有限公司2000000–––65120––(30310)–2034810–
Tibet Zabuye Lithium Industry 西藏日喀則扎布耶鋰業
Co. Ltd. 高科技有限公司 524804 – – – 64727 – – (105027) – 484504 –
Carbon One New Energy Co. Ltd. 碳一新能源集團有限
責任公司298089–––(10123)––––287966–
Other associates 其他聯營企業 812561 301796 – (23496 ) 32279 – 12911 (27445) – 1108606 –
Total 合計 54895715 3301796 385085 (28496 ) 1160891 – 12911 (162782) – 59565120 –
Note: Other increase represents the effect of equity-settled 註： 其他增加為集團內本公司與子公司基於
inter-company share-based payment arrangement 以自身權益結算的集團內股份支付安排
between the Company and its subsidiaries within the 的影響。
Group.348 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
4. Revenue and cost of operating 4. 營業收入及成本
Operating revenue is as follows: 營業收入列示如下：
20232022
二零二三年二零二二年
Revenue Cost Revenue Cost收入成本收入成本
Revenue from principal 主營業務收入
operations 1705800 1692277 6533302 5191243
Other operating revenue 其他業務收入 1038156 619408 1173704 850060
2743956231168577070066041303
Operating revenue is as follows: 營業收入列示如下：
20232022
二零二三年二零二二年
Revenue from contracts with customers 與客戶之間合同產生的收入
Sales of goods and construction services 銷售商品及建造服務 2216281 7406915
Rendering of services 提供服務 344467 268471
25607487675386
Rental income 租賃收入 183208 31620
Total 合計 2743956 7707006Annual Report 2023二零二三年年報349
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVII. EXPLANATORY NOTES TO MAJOR ITEMS IN THE 十七、 公司財務報表主要項目註釋（續）
FINANCIAL STATEMENTS OF THE COMPANY
(CONTINUED)
5. Investment income 5. 投資收益
20232022
二零二三年二零二二年
Income from long-term equity investments 按權益法核算的長期股權投資收益
under equity method 1160891 582746
Investment income generated from disposal of 處置長期股權投資產生的投資收益
long-term equity investments 1333 7203
Received dividends of subsidiaries within the 收合併範圍內子公司股利
scope of consolidation 7940000 1350000
Investment loss on disposal of subsidiaries 處置子公司的投資損失 (3976) (231)
Investment income from investment in wealth 投資理財產品與債權投資產生的
management products and debt investment 投資收益 10676 11557
Dividend income from other investments on 仍持有的其他權益工具投資的
hand in equity instruments 股利收入 19545 1551
Investment income from holding other non- 其他非流動金融資產在持有期間
current financial assets 取得的投資收益 2124 1847
Investment income/(loss) from disposal of 處置交易性金融資產或負債的投資
financial assets or liabilities for trading 收益╱（損失） 13796 (3822)
Total 合計 9144389 1950851350 BYD Company Limited比亞迪股份有限公司
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVIII. SUPPLEMENTARY INFORMATION 十八、 補充資料
1. Breakdown of non-recurring profit or loss 1. 非經常性損益明細表
Amount金額
Gains or losses from the disposal of non-current assets 非流動性資產處置損益，包括已計提資產減值(including the written-off portion of provisions for 準備的沖銷部分
asset impairment) (1022447)Government grants (except for government grants 計入當期損益的政府補助（與正常經營業務密切which are closely related to normal business 相關，符合國家政策規定、按照確定的標準operations of the Company in compliance with 享有、對損益產生持續影響的政府補助除外）
national policies and regulations and influence the
profit and loss on an ongoing basis) charged to gains
or losses for the period 2187382
Non-financial business’s gains or losses from fair 除同正常經營業務相關的有效套期保值業務
value change arising from trading financial assets 外，非金融企業持有金融資產和金融負債產and trading financial liabilities held and gains or 生的公允價值變動損益以及處置金融資產和
losses from disposal of trading financial assets and 金融負債產生的損益
trading financial liabilities other than effective value
protection hedges relating to the Company’s ordinary
course of business 584169
Reversal of impairment provision for individually tested 單獨進行減值測試的應收款項減值準備轉回
receivables 26167
Other non-operating income and expenses other than 除上述各項之外的其他營業外收入和支出
the above 307964
Effect on income tax 所得稅影響 (407457)
Effects of non-controlling interests (after tax) 少數股東權益影響（稅後） (97399)
Total 合計 1578379Annual Report 2023二零二三年年報351
Notes to Financial Statements財務報表附註
RMB’000人民幣千元
XVIII. SUPPLEMENTARY INFORMATION (CONTINUED) 十八、 補充資料（續）
1. Breakdown of non-recurring profit or loss (continued) 1. 非經常性損益明細表（續）The Group recognises non-recurr ing prof i t or loss in 本集團對非經常性損益項目的確認按照《公accordance with the provisions of “Explanatory Announcement 開發行證券的公司信息披露解釋性公告第1No. 1 on Information Disclosure by Companies Offering 號 –– 非經常性損益》（證監會公告〔2023〕Securities to the Public–Non-recurring Profits and Losses” 65號）的規定執行。
(CSRC Announcement [2023] No. 65) 《( 公開發行證券的公司信息披露解釋性公告第1號–非經常性損益》(證監會公告〔2023〕
65號)).
2. Return ratio on net assets and earnings per share 2. 淨資產收益率和每股收益
Weighted
average
return
ratio on
net assets
(%) Earnings per share (RMB)加權平均淨資產收益率每股收益
(%)（人民幣元）
Basic Diluted基本稀釋
2023二零二三年
Net profit attributable to ordinary shareholders 歸屬於母公司普通股股東的淨利潤
of the parent company 24.40 10.32 10.32
Net profit after non-recurring profit or loss 扣除非經常性損益後歸屬於母公司
attributable to ordinary shareholders of the 普通股股東的淨利潤
parent company 23.12 9.78 9.78
The Group did not have any dilutive potential ordinary shares. 本集團無稀釋性潛在普通股。352 BYD Company Limited比亞迪股份有限公司Five Year Financial Summary五年財務摘要
31 December 2023
二零二三年十二月三十一日
20232022202120202019
二零二三年二零二二年二零二一年二零二零年二零一九年
RMB’000 RMB’000 RMB’000 RMB’000 RMB’000人民幣千元人民幣千元人民幣千元人民幣千元人民幣千元
I. Operating revenue 一、營業收入 602315354 424060635 216142395 156597691 127738523
Less: Operating costs 減：營業成本 480558350 351815680 187997689 126251380 106924288
Tax and surcharge 稅金及附加 10349628 7267110 3034878 2154415 1560596
Selling expenses 銷售費用 25211395 15060676 6081678 5055613 4345897
Administrative expenses 管理費用 13461708 10007370 5710193 4321493 4140997
Research and development expenses 研發費用 39574945 18654453 7990974 7464861 5629372
Finance expenses 財務費用 (1474894) (1617957) 1786927 3762610 3014032
Including: Interest expenses 其中：利息費用 1827605 1316350 1907642 3123801 3487407
Interest income 利息收入 2796195 1829617 631841 214613 353761
Add: Other income 加：其他收益 5253459 1721136 2270196 1695227 1723678
Investment income 投資收益 1635141 (791903) (57134) (272810) (808695)
Including: Investment income/(loss) 其中：對聯營企業和合營
in associates and joint 企業的投資
ventures 收益╱(損失) 1277455 (685885) (145295) (186837) (422776)
Loss on derecognition 以攤餘成本計量的
of financial assets 金融資產終止
measured at 確認損失
amortised cost – (22719) (88765) (299523) (519134)
Gains from changes in fair value 公允價值變動收益 257740 126098 47356 (51267) 9749
Impairment losses on credit 信用減值損失 (1579612) (989521) (388074) (951902) (496855)
Impairment losses on asset 資產減值損失 (2188219) (1386458) (857475) (906530) (139176)
Gains from disposal of assets 資產處置收益 90364 (10836) 77067 (14264) (99754)
II. Operating profit 二、營業利潤 38103095 21541819 4631992 7085773 2312288
Add: Non-operating income 加：營業外收入 711370 526974 337654 281660 226322
Less: Non-operating expenses 減：營業外支出 1545828 989064 451643 484846 107479
III. Total profit 三、利潤總額 37268637 21079729 4518003 6882587 2431131
Less: Income tax expenses 減：所得稅費用 5924567 3366625 550737 868624 312274
IV. Net profit 四、淨利潤 31344070 17713104 3967266 6013963 2118857
V. Classified by continuity of operation 五、按經營持續性分類
Net profit from continuing operations 持續經營淨利潤 31344070 17713104 3967266 6013963 2118857
VI. Classified by ownership 六、按所有權歸屬分類
Net profit attributable to Shareholders 歸屬於母公司所有者的淨利潤
of the parent company 30040811 16622448 3045188 4234267 1614450
Non-controlling interests 少數股東損益 1303259 1090656 922078 1779696 504407
Total assets 資產總計 679547670 493860646 295780147 201017321 195641593
Total liabilities 負債合計 529085557 372470809 191535938 136563409 133040173
Total shareholders’ equity attributable to the 歸屬於母公司股東權益合計
parent company 138810065 111029299 95069671 56874274 56762289
Total shareholders’ equity 股東權益合計 150462113 121389837 104244209 64453912 62601420
