China's largest EV maker, BYD, experienced a stock selloff due to missing 2023 earnings estimate by nearly 1bn yuan ($138m).
China's largest EV maker, BYD, saw a significant stock selloff after missing 2023 earnings estimate by nearly 1bn yuan ($138m), sparking concerns over its ability to sustain profit growth amid a price war. Despite nearly tripling dividend payout, investors focused on operational metrics, with Morgan Stanley suggesting a 25% Q4 decline in profit per vehicle due to mass market discounts. BYD remains confident about achieving 20% volume growth and steady profit in 2024.
March 27, 2024
6 Articles