BYD Net Profit 0.42 Billion Yuan Increasing 2500%

www.chinaspv.com: According to data collected by Wind, by Aug.26th, 37 of 52 auto manufacturers releasing medium-term report realize increase in their net profit, which takes up 71%.

In Aug.25th, BYD released its medium-term report which showed that operation revenue in the first half year is 26 billion Yuan increasing 15% compared with the same period of last year. Its net profit increases 2500% to 0.42 billion Yuan, pushing BYD ranking the top of these 52 enterprises mentioned above. Such a huge increase of BYD almost takes the industry’s breath. Some analyst said that the major reason of increasing revenue is the good sale of major vehicle types. Furthermore, its mobile phone parts own stable customers and new-energy vehicles are of good sales in western markets.

As for domestic market, BYD is comparatively weak in big cities but popular in relative small cities. Accelerating urbanization process brings increasing demanding for automobile. BYD is of good sales in overseas markets. “Owing to continuous stronger environmental awareness, energy conservation and emission reduction of electric vehicle gets much attention. Thus, new-energy vehicle is approved very soon.”

In a surprise twist, stock performance of Aug.26th does not match its revenue growth, which is only 35.1 Yuan decreasing 2.39%.

Among 37 enterprises with revenue increasing mentioned above, 7 enterprises’ net profit growth increase exceed 19%, which are BYD, Jiangnan MPT, SG Automotive, Changchun Yidong Clutch, Ama B, ST Xiyi, and Haima Auto.

In this first half year of 2013, auto industry continues recovery since the fourth season of 2012. Based on data of CAAM, in the first half year, the production and sales of China auto are 10.75 million units and 10.78 million units, increasing 12.8 and 12.3% respectively.

China Special Vehicle Adivsor

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