GoKawiilBYD Stock Drops 5% After First-Half Profit Falls 20.5% Amid China Price War
BYD's Hong Kong shares dropped nearly 5% after the company reported first-half net profit down 20.5% to 12.3 billion yuan and revenue down 7.1% to 344.8 billion yuan, even as second-quarter profit rose 30% year-over-year. The automaker cited weak domestic demand, intense price competition, and higher costs for commodities and chips squeezing margins, though overseas exports jumped 67.8% to 792,000 vehicles.
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BYD's results highlight how brutal price competition among Chinese EV makers is eroding profitability even for the market leader, forcing companies to lean harder on exports to offset a sluggish home market. Analysts still expect BYD's full-year profit to beat consensus, suggesting the company's premium brands and overseas expansion could cushion further domestic pressure.
- First-half net profit fell 20.5% to 12.3 billion yuan despite a 30% jump in Q2 profit alone.
- Exports surged 67.8% to 792,000 vehicles, partly offsetting weak domestic sales.
- Citi forecasts full-year net profit of 41.2 billion yuan, potentially 8% above market consensus.
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Published there as: “BYD shares slide as fierce China competition dents first-half earnings”
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