Global Stocks: Chinese EV maker BYD posts first annual profit decline in four years

BYD , China's biggest electric vehicle maker by sales, on Friday posted its first annual profit drop in ‌four ⁠years, hit ⁠by weak sales in the world's largest auto market.

Net ​profit slid 19% to 32.6 billion yuan ($4.72 billion), the ​automaker said ⁠in a ‌stock exchange ​filing. ​That compared with an ⁠average 12.1% fall expected by ​analysts polled by ​LSEG.

Revenue grew 3.5%, the weakest rate in six years.


For the three months through ‌December, profit fell 38.2% from a year ​earlier ​to 9.3 ⁠billion yuan, a third consecutive quarter of decline.

($1 = 6.9130 Chinese yuan renminbi)