BYD's Q1 net profit fell by over 80 percent year-on-year due to slowdown in automobile businesses.

Buffet-backed BYD booms in Shenzhen debut

首季凈利暴跌比亞迪今上市

Shares of China's BYD Co., a private automaker backed by billionaire Warren Buffett, rose by 22.22 percent on Thursday in its debut on the Shenzhen stock exchange despite weak first quarter earnings.

The Shenzhen-based carmaker announced Wednesday its first quarter net profits dropped 84.35 percent on an annual basis to 266 million yuan. In a filing with the Hong Kong stock exchange, where BYD is already listed, the company attributed its poor performance to a slowdown in car sales.

The profit drop was "mainly due to a decline in automobile sales volume and revenue as a result of the cessation of preferential tax policy on automobile purchases and intensifying market competition," BYD said in a statement.

Operating revenue fell 11.6 percent from a year earlier to 11.71 billion yuan.

BYD shares in Hong Kong dropped 4.99 percent to close at HK$23.8.

BYD sold 79 million shares at 18 yuan per share in its initial public offering in Shenzhen. The company raised a total of 1.422 billion yuan, 35.13 percent lower than the previously estimated 2.192 billion yuan.

今日，億萬(wàn)富翁巴菲特看好的比亞迪在深圳證券交易市場(chǎng)中小板正式掛牌上市，雖然比亞迪昨天公布的一季度業(yè)績(jī)差強(qiáng)人意，其開(kāi)盤仍大漲22%。

昨日比亞迪在港公布的2011年一季度財(cái)務(wù)數(shù)據(jù)顯示，比亞迪一季度凈利潤(rùn)同比為2.66億元人民幣，同比下降84.35%。對(duì)于業(yè)績(jī)大幅下降，比亞迪稱，是由于汽車銷量的下降。

利潤(rùn)的下降“主要是由于購(gòu)置稅政策的取消及市場(chǎng)競(jìng)爭(zhēng)的加劇導(dǎo)致汽車銷量及收入下降”，比亞迪在公告中稱。

比亞迪一季度營(yíng)業(yè)收入117.1億人民幣，同比下滑11.6%。

昨日,比亞迪在港股價(jià)報(bào)收于23.8港元，下跌4.99%。

資料顯示，比亞迪此次A股發(fā)行價(jià)為18元/股，融資額為14.22億，比此前預(yù)計(jì)募資21.92億元銳減了35.13%。