BYD's shares slide after steep fall in quarterly profit

BYD's shares slide after steep fall in quarterly profit

Shares in electric vehicle maker BYD slid on Monday after it reported quarterly profit fell for the first time in more than three years, with analysts saying its competitive advantage was being eroded by Chinese government efforts to stop a price war.

BYD’s Quarterly Profit Shrinks for First Time Since 2022, Exposing Market Strains

BYD, China’s largest electric vehicle maker, has reported its first quarterly profit drop in more than three years. Hong Kong filings show first-half net profit of RMB 15.5 billion ($2.17 billion), up from RMB 13.6 billion ($1.91 billion) a year earlier. But second quarter profit fell to RMB 6.36 billion ($890 million), nearly 30 percent […]

BYD share price slumps as analysts say the Chinese EV giant's 'gravy train' is slowing

BYD has built a fleet of car-carrying cargo ships as it targets aggressive overseas expansion.Zhang Congyu/VCG via Getty ImagesBYD's share price fell as much as 8% on Monday following disappointing earnings last week.Analysts at Jefferies said BYD's "playbook" has been disrupted by China's crackdown on EV price cutsBYD reported a steep fall in profits, but overseas revenue is booming as it takes the fight to Tesla abroad.BYD's "gravy train" migh…

BYD's Hong Kong shares fall nearly 8% after quarterly profit drop

Hong Kong-listed shares of BYD fell more than 6% after the Tesla rival reported a quarterly profit drop amid a price war in its domestic industry.

BYD Shares Plunge Amid Profit Decline - PressReach

BYD, the Chinese electric vehicle and battery manufacturer, experienced a significant drop in its Hong Kong-listed shares, declining nearly 8% following the release of its quarterly earnings report. The downturn was primarily attributed to a notable drop in its quarterly profit, sparking investor anxieties regarding the company’s future performance. The reported profit for the quarter was considerably lower than analysts had anticipated, marking…

BYD Q2 profits fall 30%

China’s electric-vehicle (EV) king BYD reported a 30% drop in profits in the second quarter as surging overseas sales failed to offset the negative impact of a brutal price war in the domestic market, reports the South China Morning Post. The Shenzhen-based company earned RMB 6.4 billion ($894.6 million) in the three months to June, down […]