Overview

• BYD reported second‑quarter net profit of 6.4 billion yuan, down 29.9% year over year, as revenue rose 14% to about 201 billion yuan.
• First‑half net income reached 15.5 billion yuan, missing a Bloomberg consensus of 23.5 billion yuan despite a strong first quarter.
• Overseas deliveries jumped to 258,182 vehicles in the second quarter, up 144.7% from a year earlier and 25.3% from the prior quarter.
• Domestic weakness persisted with China sales falling for a third straight month in July and production declining for the first time in 17 months, putting the 5.5 million annual sales goal at risk after 2.49 million in the first seven months.
• Liquidity pressure intensified as the working‑capital deficit widened to 122.7 billion yuan and the debt‑to‑asset ratio rose to 71.1%, following a June pledge to pay suppliers within 60 days after authorities moved to rein in price cutting.