The Chinese electric vehicle manufacturer Byd group closed the second quarter with a net profit increase of 29.8% year-on-year, at 8.2 billion yuan (1.22 billion dollars). The company announced this, adding that this result ended a series of four consecutive quarters of decline and reversed the 55.4% drop recorded in the previous quarter.
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Quarterly revenue fell by 3.2% to 194.6 billion yuan in the quarter: a smaller decline compared to the 11.8% recorded in the first quarter, however marking the fourth consecutive quarterly contraction. According to the company, the profit increase was achieved thanks to a strong increase in exports that offset the weakness of sales in the domestic market.
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