BYD Reports 30% Increase in Q2 Net Profit, First Growth in Five Quarters

BYD, the world's largest electric vehicle manufacturer, saw its Q2 net profit rise by 30% year-over-year to 8.2 billion yuan (approximately $1.2 billion), marking the first increase in five quarters. While revenue unexpectedly declined by about 3% to 194.6 billion yuan, profit growth was driven by a surge in exports and strong demand for higher-priced vehicle models, which helped offset the downturn in the Chinese market.