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BYD Co. Ltd. Q2 profit falls YOY

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BYD Co. Ltd. Q2 profit falls YOY

BYD Co. Ltd. said its normalized net income for the second quarter was 5 fen per share, a gain of 8.6% from 5 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 130.5 million yuan, a decrease of 25.1% from 174.2 million yuan in the prior-year period.

The normalized profit margin rose to 1.8% from 1.2% in the year-earlier period.

Total revenue climbed 8.7% year over year to 16.30 billion yuan from 14.99 billion yuan, and total operating expenses rose 8.8% from the prior-year period to 15.69 billion yuan from 14.42 billion yuan.

Reported net income totaled 345.7 million yuan, or 14 fen per share, compared with 348.7 million yuan, or 10 fen per share, in the prior-year period.

As of Aug. 26, US$1 was equivalent to 6.41 yuan.