BYD, Geely Profits Rise About 28% but Miss Estimates Amid EU-China Hybrid-Export Talks

BYD Company Limited and Geely Automobile Holdings Limited each raised third-quarter profit about 28% from a year earlier, while missing analyst benchmarks as the EU and China framed hybrid-export terms against different baselines. BYD’s unaudited results showed net profit attributable to shareholders of RMB10.020 billion, up 28.08%, on revenue of RMB221.488 billion, up 13.59%. Three brokerage estimates put quarterly profit between RMB11.4 billion and RMB12.95 billion, above the reported result. For the first nine months, revenue was RMB566.304 billion, up 0.01%, while net profit fell 4.24% to RMB22.345 billion.

Source: TokenPost