As the 2024 annual reports and the first-quarter reports of 2025 are unveiled, the financial performance of A-share and Hong Kong-listed automotive companies is gradually taking shape. Amid the accelerating trends of electrification and intelligentization, a pronounced divergence is evident among automotive firms, with new energy vehicle (NEV) enterprises outpacing traditional fuel vehicle enterprises across the board and emerging as the primary catalyst for industry growth. The latest figures indicate that leading domestic brands have demonstrated robust growth dynamics. Notably, BYD, a pioneer in the NEV sector, recorded revenues of RMB 777.102 billion in 2024, marking a year-on-year surge of 29.02%, alongside a net profit of RMB 40.254 billion, up 34% year-on-year, thereby surpassing the RMB 700 billion milestone for the first time.