BYD’s First-Half Net Income Triples to Top End of Forecast
- Chinese electric-vehicle maker posts $521 million net profit
- Shenzhen-based BYD is backed by US investor Warren Buffett
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BYD Co.’s net income rose to the top end of guidance it gave last month as record output and sales shielded China’s biggest electric-vehicle maker from Covid disruptions and supply-chain pain.
Net income in the six months through June tripled from a year earlier to 3.6 billion yuan ($521 million), the Shenzhen-based company said in a filing Monday. BYD had forecast net profit of between 2.8 billion and 3.6 billion yuan.