Maryam Shah

Chinese electric vehicle maker BYD recorded a 55 percent decline in first-quarter net profit, a Hong Kong stock filing showed on Tuesday, as weaker domestic demand added to pressure from cutthroat competition.

Shorts

BYD’s first-quarter net profit fell 55 percent as weak Chinese demand and fierce competition hurt profitability, prompting the EV giant to pursue stronger growth in overseas markets.

Articles tagged with "Profit"

Chinese EV giant BYD reports 55% drop in Q1 net profit

Chinese EV giant BYD reports 55% drop in Q1 net profit