BYD's first-half profit tripled and triples to top end of forecast
BYD Co.'s net profit rose to the top of the forecast the company gave last month as record production and sales volumes protected China's largest electric-car maker from business disruptions and supply-chain problems.
Net income for the six months through June tripled from a year earlier to 3.6 billion yuan ($521 million). BYD had forecast a net profit of 2.8 to 3.6 billion yuan.
Revenue was 150.6 billion yuan, up 66% from a year earlier, thanks to record monthly sales. Analysts had forecast revenue of ¥166 billion.
BYD sold more electric cars and hybrids in the first seven months of this year than in 2020 and 2021 combined. The group's share of the Chinese market reached 24.7% in the first half of the year.
BYD could deliver 1.5 to 2 million cars this year, Bloomberg.
via.TITVN
