Monday 01/Sep/2025 – 04:15 PM
The shares of the BYD company, which is listed on the Hong Kong Stock Exchange, decreased by approximately 8% today, Monday, after the Chinese electric car manufacturer announced a sharp decrease in its quarterly profits, in light of a fierce price war in its local sector.
On Friday, the competing company for Tesla announced a net profit of 6.36 billion yuan ($ 891 million) for the quarter from April to June, a decrease of approximately 30% from the previous year, according to the data of the London Stock Exchange.
These results came despite the expansion of external sales, which helped the company’s income by 14% on an annual basis to reach about 201 billion yuan.
While BYD profitability was damaged by the outbreak of another discount war in China in the last quarter, which has become common in this field.
The company said in its profit report to the middle of the year that the increase in price competition and the excessive marketing of the electric car sector in China had a periodic negative impact on the development of this industry.
