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 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 […]

BYD Shares Slide as Quarterly Profit Declines Amid Fierce EV Price War in China

Hong Kong-listed shares of Chinese electric vehicle giant BYD plunged nearly 8% on Monday after the company reported its first quarterly profit decline in more than three years, underscoring the growing toll of an aggressive domestic price war. The Tesla rival said net profit for the April-June quarter fell 30% year on year to 6.36 […] The post BYD Shares Slide as Quarterly Profit Declines Amid Fierce EV Price War in China appeared first on Teke…