BYD Expected Large Net Profit Increase in 2013

Chinese battery and car maker BYD Company Limited (BYD Co., 1211.HK, referred to as: BYD) is expected a large net profit increase in 2013. The company realizes profit in the third quarter because of domestic auto demand increase, cellphone dept. sales stable and solar business loss decrease.

BYD publishes that it realizes net profit of 38.16 million Yuan (equal around to 6.23 million dollar) in the third quarter. The figure for last year was 4.6 million Yuan. The third quarter normally is slack season for auto industry.

In the first 9 months of this year, BYD realizes profit of 465.1 million Yuan this year, which correspond 430 – 477 million Yuan expectation. Profit of last year was only 20.88 million Yuan.

Revenue of third quarter increases 20% to 12.66 billion Yuan; the figure for last year was 10.53 billion.

BYD which is located in Shenzhen City published bulletin that 2013 net profit of the company surges to 619%, mount to 585.1 million Yuan. Two main reasons, first is because of the good market performance of auto industry. It is expected that main products of BYD shall remain sales growth. Secondly, BYD sloar business loss has narrowed as well.

Subsidiares MidAmeriacan Energy Holdings Co., which belongs to Warren Buffett’s investment company: Berkshire Hathaway Inc, holds 10% shares of BYD.