BYD's net profit in the second quarter increased by 30% year-on-year, marking the first rise in five quarters

The world's largest electric vehicle manufacturer BYD reported a net profit growth of 30% year-on-year in the second quarter, reaching 8.2 billion yuan (approximately 1.2 billion USD), marking the first increase in five quarters. This data is derived from the half-year performance announced on Friday, slightly exceeding the average expectations of analysts compiled by Bloomberg.

During the same period, revenue unexpectedly declined by about 3% to 194.6 billion yuan. The profit growth was attributed to a surge in exports and demand for some higher-priced models, helping it overcome the sluggish Chinese market.