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.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
