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.