faithfulguy
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what does it have to do with Japan?
This guy believe all Orientals are the same.
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what does it have to do with Japan?
BYD's First-Half Net Profit Jumps to CNY427 Million
By Dow Jones Business News, August 25, 2013, 08:25:00 AM EDT
link
By Joanne Chiu
above auto photo credits: BYD
BYD Zero-emission buses launched in USA
Credit:fleetsandfuels.com
BYD - Qin
BYD Surui
link to above photo credits:
HONG KONG--BYD Co. (002594.SZ, 1211.HK) expects a weak third-quarter performance after the Chinese battery and car maker on Sunday reported a sharp rise in first-half net on the back of rising car sales and narrowed losses from solar operations.
The Shenzhen-based company, Warren Buffett's highest-profile investment in China, said in a statement its net profit for the six months ended June 30 was 427 million yuan ($69.8 million), up from CNY16.27 million a year earlier. The increase was in line with the company's earlier forecasts for a net profit of CNY400 million to CNY500 million.
MidAmerican Energy Holdings Co., a unit of Mr. Buffett's Berkshire Hathaway Inc. (BRKA), owns a 10% stake in BYD.
It forecast net profit of CNY430 million to CNY477 million for the January-September period, reflecting a sharp jump from CNY20.9 million in the year-earlier period but also implying only a small profit contribution from the third quarter, which falls into the traditional weak season for the automobile market in China. Continued losses from its solar operations as well as intensifying competition in the smartphone manufacturing industry would also weigh on its profitability, the company said.
In the first-half, BYD's revenue rose 13% to CNY24.24 billion, of which revenue from car sales rose 19% to CNY12.77 Billion, contributing more than half of all revenue. The company sold 250,000 cars in the first six months--up from 25% a year earlier and accounted for half of its full-year sale target of 500,000 cars. It didn't disclose the number of alternative-fuel cars it sold in the first half.
The Chinese car maker plans to launch more new car models, including a new high-end sport utility vehicle and a plug- in hybrid car called Qin in the second half, it said.
Meanwhile, handset components and assembly operations contributed CNY9.02 billion in BYD's first-half revenue, up 6.6% from a year earlier and accounted for 37% of the total revenue, thanks to the launch of for smartphone products from its customers which include Nokia Corp. (NOK, NOK1V.HE), Taiwan'sHTC Corp. (2498.TW, HTCXF), Korea'sSamsung Electronics Co. (005930.SE, SSNHZ) and China's Huawei Technologies Co.
Same as last year, the company didn't recommend a first-half dividend.
Hey question i don't see any chinese cars in India
Why are they not coming to India some cars really look nice
I don't see anything in that article to suggest that Micromax is building components in India. It is still sourcing components from outside and assembling the final product in India. The only innovation they are doing is mixing and matching components based on Indian consumer trends.
Micromax is made in China... Thanks to the ignorance Indian who buy "made in China"
Who gives a cr@p about what a dead company says?
But its amusing to see chinese and pakistani posters wetting their pants with glee. LOL.
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