BYD profits rise after five quarters

BYD achieved its first profit increase in five quarters, with net income rising by 30% in the second quarter to 8.2 billion yuan ($1.2 billion). This growth was driven by increased exports and demand for some of its higher-priced models, despite a 3% decline in revenue to 194.6 billion yuan. The results come at a time when the company continues to expand its presence in South American and European markets through the launch of new models and updates to existing ones, which helped boost sales and profit margins. These results follow a period of fierce competition with companies like Xiaomi and XPeng, which led to a decrease in profits last year. Overall, the company demonstrates stability both internally and externally, supported by improved financial performance.

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