In the automotive section, BYD will focus on pure electric and plug-in hybrid vehicle businesses in the future.

In June last year, local media reported that BYD's planning for future fuel vehicles had been halted.

"By 2022 at the earliest, BYD will completely stop producing pure fuel vehicles," these reports said.

Whether it's styling technology, or core NEV technologies such as batteries, motors and electric controls, as well as intelligent technologies such as intelligent networking and intelligent cockpits, China's local EVs are already ahead of joint venture brands, BYD chairman and president Wang Chuanfu said in June last year.

He said that from the perspective of domestic and foreign environment and resources, the general trend of NEVs replacing fuel vehicles is already set.

Wang expected there will be a long transition phase in the development of the NEV market, from plug-in hybrids to pure electric vehicles.