BYD Profit Down 20%, Shares Slip 5.8%

BYD Profit Down 20%, Shares Slip 5.8%

BYD Co (HK:1211), the world’s largest electric‑vehicle manufacturer by shipments, reported that net profit for the six months ended 30 June 2026 declined 20.5 percent year‑on‑year to 12.33 billion yuan (approximately US$1.83 billion). Revenue for the same period fell 7.1 percent to 344.82 billion yuan. The company noted that while it recorded a profit in the April‑June quarter, overall profitability continued to deteriorate as competition intensified in its core Chinese market. The Chinese EV market has contracted after Beijing removed key trade‑in subsidies and consumer spending softened, prompting manufacturers to cut prices and compress margins.

Overseas operations generated 181.27 billion yuan in revenue, representing more than 52 percent of total H1 revenue and marking the first half in which international sales exceeded domestic sales, which the company cites as its next major growth driver.

Following the earnings release, BYD shares fell 5.8 percent to HK$86.65, making the stock one of the largest weight losers on the Hang Seng index, which itself declined 0.4 percent.