BYD's 2012 net profit the lowest in four years
By Li Fangfang (chinadaily.com.cn) Updated: 2013-03-25 17:00Chinese battery and carmaker BYD Co Ltd has reported net profit diving 94.12 percent year-on-year to 81 million yuan ($12.9 million), the lowest in at least four years, while revenue slumped 4.04 percent to 46.85 billion yuan.
The declines were disclosed in the company's 2012 financial report filed to the Shenzhen Stock Exchange on Sunday.
Its shares on the Shenzhen bourse gained 0.47 percent to close at 23.51 yuan on Monday.
The Shenzhen-based company attributed the poor business performance to the gloomy global solar energy market and a stagnant mobile phone industry.
It also said the slowing Chinese automotive market added to difficulties in BYD's vehicle business, which contributed half of its revenue.
- China's January consumer inflation expected to pick up
- China's foreign reserves fall below $3 trillion mark
- Guangdong reports added value growth of private economy
- Uneven 'heat' in trading links expected to stick around
- Family visit lifts spirits of Spring Festival worker
- Railway trips surge during Spring Festival travel rush
- Guangdong's economy remains biggest, Chongqing leads growth
- China central bank suspends reverse repos to drain liquidity
Hot Topics
Editor's Picks
