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BusinessQuiet 13d · day 16

BYD's Q3 profit growth slows to 28%, missing forecasts amid China weakness

The EV giant's earnings beat expectations on export surge but domestic sales fell 12% as competition intensifies.

newest coverage 12d agosummary written 11d ago8 pieces NewswiresGoogle News

What to know

  • BYD's Q3 profit rose 28% to 10 billion yuan, below analyst forecasts of 11.4–12.95 billion yuan, signaling slowing growth momentum.
  • International sales jumped 137% year-over-year and now represent 42% of total volumes, but domestic Chinese sales fell 12% amid fierce local competition.
  • The earnings miss and stock decline suggest BYD's export-led recovery strategy may be losing effectiveness as other Chinese EV makers pursue similar international expansion.

“The company has expanded aggressively into international markets– specifically Europe– over the past year to escape worsening competition in its home market. But this strategy is being echoed by a host of other Chinese EV makers, presenting headwinds for BYD's international plans.”

Investing.com · Investing.com ↗

BYD World's top EV maker

BYD's Q3 profit growth slows to 28%, missing forecasts amid China weakness
Investing.com News

How it unfolded 4 developments, newest first · click a bar or a number to jump articles

Peak 3 pieces in 4h at Nov 1, 8 AM; 8 pieces over 16 days (8 articles) Oct 29, 5 AM — 2 pieces · 2 articles — Newswires 2Oct 29, 9 AM — quietOct 29, 1 PM — quietOct 29, 5 PM — quietOct 29, 9 PM — quietOct 30, 1 AM — 1 piece · 1 article — Newswires 1Oct 30, 5 AM — quietOct 30, 9 AM — quietOct 30, 1 PM — quietOct 30, 5 PM — quietOct 30, 9 PM — quietOct 31, 1 AM — quietOct 31, 5 AM — quietOct 31, 9 AM — quietOct 31, 1 PM — quietOct 31, 5 PM — quietOct 31, 9 PM — quietNov 1, 1 AM — quietNov 1, 4 AM — 2 pieces · 2 articles — Google News 2Nov 1, 8 AM — 3 pieces · 3 articles — Google News 3Nov 1, 12 PM — quietNov 1, 4 PM — quietNov 1, 8 PM — quietNov 2, 12 AM — quietNov 2, 4 AM — quietNov 2, 8 AM — quietNov 2, 12 PM — quietNov 2, 4 PM — quietNov 2, 8 PM — quietNov 3, 12 AM — quietNov 3, 4 AM — quietNov 3, 8 AM — quietNov 3, 12 PM — quietNov 3, 4 PM — quietNov 3, 8 PM — quietNov 4, 12 AM — quietNov 4, 4 AM — quietNov 4, 8 AM — quietNov 4, 12 PM — quietNov 4, 4 PM — quietNov 4, 8 PM — quietNov 5, 12 AM — quietNov 5, 4 AM — quietNov 5, 8 AM — quietNov 5, 12 PM — quietNov 5, 4 PM — quietNov 5, 8 PM — quietNov 6, 12 AM — quietNov 6, 4 AM — quietNov 6, 8 AM — quietNov 6, 12 PM — quietNov 6, 4 PM — quietNov 6, 8 PM — quietNov 7, 12 AM — quietNov 7, 4 AM — quietNov 7, 8 AM — quietNov 7, 12 PM — quietNov 7, 4 PM — quietNov 7, 8 PM — quietNov 8, 12 AM — quietNov 8, 4 AM — quietNov 8, 8 AM — quietNov 8, 12 PM — quietNov 8, 4 PM — quietNov 8, 8 PM — quietNov 9, 12 AM — quietNov 9, 4 AM — quietNov 9, 8 AM — quietNov 9, 12 PM — quietNov 9, 4 PM — quietNov 9, 8 PM — quietNov 10, 12 AM — quietNov 10, 4 AM — quietNov 10, 8 AM — quietNov 10, 12 PM — quietNov 10, 4 PM — quietNov 10, 8 PM — quietNov 11, 12 AM — quietNov 11, 4 AM — quietNov 11, 8 AM — quietNov 11, 12 PM — quietNov 11, 4 PM — quietNov 11, 8 PM — quietYesterday, 12 AM — quietYesterday, 4 AM — quietYesterday, 8 AM — quietYesterday, 12 PM — quietYesterday, 4 PM — quietYesterday, 8 PM — quietToday, 12 AM — quietToday, 4 AM — quietToday, 8 AM — quietToday, 12 PM — quietToday, 4 PM — quietToday, 8 PM — quiet 1–234
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  1. 4

    Export recovery showing signs of losing momentum

    Coverage from November 1 characterized the earnings as a signal that BYD's export-led recovery strategy is beginning to lose steam, even as the company has expanded aggressively into Europe and other international markets to escape deteriorating domestic competition.

    1. 1 outlet BYD Profit Misses Estimates as Export-Led Recovery Loses Steam

      first by Bloomberg.com, 12d ago

  2. 1 day quiet
  3. 3

    BYD shares fall on earnings miss despite strong exports

    BYD stock fell as much as 2.4% to HK$68.30 in Hong Kong trading on October 30, though losses were curbed to 0.5% by midday as investors reacted to the Q3 earnings disappointment.

    “BYD's net profit for the three months to September 30 grew 28% year-on-year to 10 billion yuan ($1.50 billion), but missed Reuters estimates of between 11.4 billion yuan and 12.95 billion yuan.”
    — Investing.com · source
    1. 2 outlets BYD shares dip as Q3 earnings disappoint

      first by Yahoo Finance Australia, 12d ago · also Investing.com News

  4. 2

    Export surge masks domestic sales decline

    International sales surged 137% year-over-year to 550,704 vehicles in Q3, representing 42% of BYD's total 1.3 million deliveries. However, this export-driven growth obscured a 12% drop in Chinese sales amid intensifying local market competition, causing margin compression.

  5. 1

    BYD reports Q3 profit growth of 28%, below forecast

    BYD disclosed net profit of 10 billion yuan ($1.50 billion) for the third quarter, a 28% year-over-year increase that fell short of Reuters estimates ranging from 11.4 billion to 12.95 billion yuan. The growth rate cooled from 30% in Q2. Revenue rose 13.6% year-on-year to 221.5 billion yuan.

    “Net profit rose to 10 billion yuan ($1.50 billion) in the third quarter, a stock filing showed, cooling from a 30 per cent increase in the previous quarter.”
    — BYD
    1. 3 outlets BYD's third-quarter profit growth slows, misses forecasts

      first by Reuters, 12d ago · also South China Morning Post, Yahoo Finance

      2 more headlines
    2. 1 outlet BYD's third-quarter profit growth slows, falling short of forecasts

      first by Channel News Asia, 15d ago