BYD shares slide as fierce China competition dents first-half earnings

BYD’s Hong Kong-traded shares fell nearly 5% on Monday following the publication of the automaker’s interim financial results on Friday. The company’s second-quarter net profit totaled 8.2 billion yuan, representing a 30% increase compared to the same period a year prior, though revenue declined 3% year on year to 194.6 billion yuan.
For the broader first-half period, BYD reported total revenue of 344.8 billion yuan, down 7.1% from the prior-year period. Net profit attributabl