Green Dragon Fund, Managing Director, Jeremy Higgs and other 6 people.
Q1：A brief introduction to the development of BYD in 2016.
Answer：In 2016, the total revenue of BYD was over 100 billion, 55% was automobile business, 38% was handset components and assembly business, 7% was rechargeable batteries and photovoltaic business. NEV contributed 34% to BYD revenue, in 2017 the NEV will keep growing fast.
Q2：What is the strategy of monorail to BYD?
Answer: BYD stepped into monorail in 2016, the chairman hope BYD could transform cities on wheels into cities on railway in order to resolve the rising traffic congestion issues in china. Besides tier 1 and tier 2 cities, tier 3 and tier 4 cities still are largely left unexplored. The chairman think this area will be a blue ocean, it will help drive BYD growth in the next few years.
Q3: What is the advantage of BYD’s NEV comparing with other competitors?
Answer: we have accumulated a long-term operation experience in past more than 10 years. In technology, we also have advantage than other competitors. We can efficiently control our cost, and make it lower than our competitors.
Answer：Two month ago, we launched Song PHEV and Song EV. Around September or October, we will launch the E5DM, it is a type of PHEV which could compete with traditional car. After subsidy, it’ll be very attractive with a competitive price. Next year we are going to launch second generation Tang and Qin, they will have very nice appearance, and better performance.
Q5: What will BYD focus on in long term?
Answer：Skyrail and NEV will grow to be the most important businesses of BYD and contribute most of revenue and profit in long term.