Buffett-backed BYD warns of 95% drop in H1 profits
- By Wu Nanlan
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China.org.cn, July 14, 2011
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Chinese car maker BYD warned Wednesday its profits in the first half of the year may have fallen 95 percent from a year earlier. |
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Buffett-backed BYD warns of 95% drop in H1 profits |
比亞迪上半年凈利跌95% |
| Chinese car maker BYD warned Wednesday its profits in the first half of the year may have fallen 95 percent from a year earlier amid stiff competition and a drop in auto sales after some tax incentives for small cars ended. | 昨日比亞迪(002594,股吧)公布的中期業(yè)績預(yù)告再度報憂，上半年凈利同比下降達(dá)95%。比亞迪表示，業(yè)績下滑，是受車輛購置稅優(yōu)惠政策取消及市場競爭加劇的影響。 |
| BYD said its profit for the first six months of the year were likely between 121 million yuan (US$18.7 million) and 363 million yuan (US$56.1 million), down 85 to 95 percent from 2.42 billion yuan a year earlier. | 預(yù)告顯示，公司上半年實(shí)現(xiàn)凈利潤約1.21億元至3.63億元，比上年同期下降85%至95%。 |
| The company, which also makes batteries and mobile phone parts, said sales of its handset parts and assembly business also declined during the six month period after a major customer postponed orders, according to documents filed with the Shenzhen stock exchange on Tuesday. | 此外其業(yè)績下滑，另一方面也是由于手機(jī)部件及組裝業(yè)務(wù)受單一最大客戶部分訂單推遲影響，銷售收入與去年同期相比有所下降。 |
| Last month, BYD reported that its first quarter profits dropped 84.35 percent over a year before to 266.74 million yuan. | 在此前A股上市時，比亞迪在港披露的一季報顯示，今年一季度凈利潤2.67億人民幣，同比下降84.35%。 |
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Analysts said that given the company's recent performance, there may be more tough times ahead. |
相比此次業(yè)績預(yù)報，比亞迪二季度的情況更加艱難，甚至不排除虧損可能。 |
China's business press carried the story above on Wednesday.
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