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BYD shares fall after China competition dents first-half earnings
BYD said second-quarter profit rose and overseas sales grew, but first-half earnings were pressured by intensifying competition in China.
BYD shares fell after the company reported its latest results, with investors focusing on weaker first-half earnings driven by fierce competition in China, according to CNBC Markets.
The automaker still posted a higher second-quarter profit, and it also highlighted growth overseas, signaling gains outside the most competitive domestic market.
Despite those positives, the market reaction suggests the first-half earnings figure dominated the read-through, CNBC World reported.
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