30 June 2011 Last updated at 02:43 GMT 
The carmaker has been aggressive in its quest to be a leader in the electric and hybrid car segment Shares in Chinese carmaker BYD have risen sharply on their debut on the Shenzen stock exchange, despite the company reporting a drop in profits.
The carmaker has been aggressive in its quest to be a leader in the electric and hybrid car segment Shares in Chinese carmaker BYD have risen sharply on their debut on the Shenzen stock exchange, despite the company reporting a drop in profits.BYD shares jumped as much as 39% to 25 yuan, compared with the listing price of 18 yuan.
The company had raised 1.42bn yuan ($219m; ?136m) from the share issue to fund its expansion plans.
On Wednesday, BYD reported an 84% dip in profits for the first quarter compared with a year earlier.
The car and battery maker said it made a net profit of 266.7m yuan in the first three months of the year, down from 1.7bn yuan a year ago.
Billionaire investor Warren Buffett's company MidAmerican Energy holds a 9.9% stake in BYD.
Comments
Post a Comment