BYD (BYDDY ADR on OTC, or 1211.HK on HKEX) has seen poor share price performance over an extended period. There are EV market headwinds like softening global demand, intense domestic price wars in China. Average EV prices fell ~20% in 2022-2023), and macroeconomic factors such as interest rate hikes and policy shifts.
In October 2025, BYD rported negative cash flow of $3.5 billion in Q3, bringing its total 2025 cash burn over the first nine months to $10.3 billion.
Excluding supplier financing, BYD has never generated excess capital on a cumulative basis — in other words, the company remains lifetime cash flow negative.
In 2025, the stock had a run up to a peak in May 2025 but is back to where it has been for about 5 years. Volatility tied to margin pressures and competition updates.
🔥Breaking: BYD has lost a total of $10.3 billion year-to-date, according to filings released today.
The company reported negative cash flow of $3.5 billion in Q3, bringing its total 2025 cash burn over the first nine months to $10.3 billion.
Excluding supplier financing, my… pic.twitter.com/XCZodJ5m3e
— AJ (@alojoh) October 30, 2025
News: BYD is down over 4% after reporting abysmal Q3 results.
BYD is down 19% since my report in April (see attached) – during the market low – where I predicted that BYD was overrated.
I shared with investor based on a quantitative review: "Too many investor get too… pic.twitter.com/QBv47jS0LY
— AJ (@alojoh) October 30, 2025
I'd like to point out that BYD's massive YTD and Q3 cash burn was NOT a function of paying down massive supplier financing!
DPO of somewhere around 50-70 days is normal. BYD's is about double at 132 days.
This means suppliers extend double the amount of financing to BYD… pic.twitter.com/dgmU8XH1Kt
— AJ (@alojoh) October 30, 2025
Wow, BYD's December sales decreased 12% month-on-month, decreased 18% year-over-year and December marks the 4th consecutive month with year-over-year declining sales. pic.twitter.com/Or62wiHylU
— AJ (@alojoh) January 1, 2026
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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Not made a profit and sales are questionable.
Sounds like BYD is following Tesla into becoming an AI company too.
Yep. The amount of time and effort spent here on NBF to make every other EV car manufacturer look bad is second only to the amount of time and effort spent to hide the factors that would negatively impact Tesla’s image.
totally agree. NextBigFuture = Team Tesla.
Did you want to make the case for BYD? One of the other EV companies? One of the other car companies? When I ask AI If having negative cashflow of $10 billion is a good thing, it says it can be strategically OK, if the company was rapidly expanding with new factories or investing for major growth. BYD has supply chain, debt and margin pressures. But probably BYD cannot go bankrupt because governments, local and national would bail out BYD. So GM and BYD will likely get bailouts to avoid bankruptcy. Is my pointing out that government bailouts have been needed and will be needed making them look bad?