|End-of-day quote - 07/30|
BYD Co. 3Q Net Profit Surged
|10/29/2020 | 07:03pm|
By Yi Wei Wong
BYD Co. reported its net profit surged as operating income picked up in the third quarter.
The electric-vehicle maker reported that its net profit jumped to 1.75 billion Chinese yuan ($260.6 million) in the third quarter, higher than the CNY119.72 million reported in the same period last year.
Operating income rose 41% to CNY44.52 billion, it said.
BYD Co. said that it expects the sales volume of new energy vehicles to increase steadily going into the fourth quarter, and that its photovoltaic business may continue to remain steady as the market supply of materials for pandemic prevention has gradually stabilized.
Write to Yi Wei Wong at email@example.com
(END) Dow Jones Newswires