BYD Company (HKG:1211, SHE:002594) reported a 21% decline in first-half profit attributable to shareholders, as weaker new energy vehicle (NEV) business and foreign exchange losses weighed on results.
Profit attributable to shareholders fell to 12.3 billion yuan in the six months ended June 30, from 15.5 billion yuan a year earlier, while revenue declined 7% to 344.8 billion yuan, according to the company's interim report.
Earnings per share fell to 1.35 yuan from 1.71 yuan a year earlier.
The company said the revenue decline was mainly attributable to a decrease in its NEV business, while the decline in attributable profit was also affected by foreign exchange losses arising from exchange rate movements.
BYD said its overseas business remained a core growth driver in the first half, with its NEV business footprint expanding to 121 countries and regions across six continents.
The automaker is also expanding localized production and logistics capacity overseas. Its factories in Brazil and Thailand are already operating, and its owned overseas fleet comprises eight roll-on/roll-off vessels.
Looking ahead, BYD said it expects overseas expansion to remain an important support for sales.
It plans to deploy 6,000 flash-charging stations overseas and continue increasing production capacity for its second-generation blade battery and flash-charging technologies.
The company also expects AI-related opportunities to provide new growth engines. In its electronics business, several server models achieved bulk shipments in the first half, while its latest liquid-cooling products for a major overseas customer entered the production ramp-up phase.
BYD plans to expand its AI computing infrastructure business across servers, liquid cooling, high-voltage power supply, and high-speed connectivity.
