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Chinese electric vehicle maker
BYD on Friday reported a 20.5 per cent drop in
first-half net profit, as the world’s largest EV maker by
shipments faced a prolonged price war and softer demand in its
home market.
Net profit totalled 12.3 billion yuan ($1.83 billion) for
the January to June period, while revenue slid 7.1 per cent from a year
earlier to 344.8 billion yuan, the company said in a stock
filing.