BYD shares fell nearly 5% in Hong Kong on Monday following the release of interim results on Friday. Net profit attributable to shareholders dropped 20.5% year on year in the first half to 12.3 billion yuan, with revenue declining 7.1% to 344.8 billion yuan. The group cited fierce competition and rising costs of raw materials and chips as factors squeezing profit margins. Meanwhile, exports surged 67.8% in the first half to 792,000 vehicles. Citi expects full-year net profit of 41.2 billion yuan, potentially 8% above consensus.
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