BYD quarterly profit drops 55.4 percent amid weak sales
BYD reported a 55.4 percent drop in first-quarter net profit to 4.1 billion yuan. Revenue also fell 11.8 percent, marking a third straight quarterly decline.
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BYD CO LTD -A reported a 55.4% drop in first-quarter net profit to 4.1 billion yuan ($599.77 million) on Tuesday. This represents the fastest profit decline for the automaker since 2020. Shrinking margins in China signal intensifying price competition and cooling demand for electric vehicles.
