男女羞羞视频在线观看,国产精品黄色免费,麻豆91在线视频,美女被羞羞免费软件下载,国产的一级片,亚洲熟色妇,天天操夜夜摸,一区二区三区在线电影

Cars

BYD's profit plummets as industry sales drop

By Li Fangfang (China Daily)
Updated: 2011-06-30 09:14
Large Medium Small

BYD's profit plummets as industry sales drop

A worker washes a BYD Co E6 electric taxi in Shenzhen, Guangdong province. BYD's sales fell in May, continuing a 10-month decline. Its flagship model F3 has fallen to fourth position from No 1 on the list of top-selling domestic cars. [Photo / Bloomberg] 

Carmaker reports 84% decline in Q1 statement to HK Stock Exchange

BEIJING - Chinese battery and carmaker BYD Co Ltd reported an 84 percent profit decline in the first quarter in a statement filed with the Hong Kong Stock Exchange on Wednesday, a day before going public in Shenzhen.

On news of the net income plunge, the H-share listed company's stock fell nearly 7 percent in Hong Kong trading on Wednesday, its biggest decline in more than three months. The share price finally closed at 23.90 yuan ($3.70), a 4.59 percent fall from the opening price.

The automaker raised 1.35 billion yuan from an A-share listing in Shenzhen this month to fund expansion and invest in research and development. The stock will start trading in Shenzhen on Thursday under a plan calling for up to 79 million shares to be issued at 18 yuan apiece.

Related readings:
BYD's profit plummets as industry sales drop BYD's new shares open to subscription
BYD's profit plummets as industry sales drop BYD lowers IPO income hopes
BYD's profit plummets as industry sales drop BYD April car sales down 11% Y-O-Y
BYD's profit plummets as industry sales drop BYD upbeat over 2011 after dismal 4th quarter

According to its financial report, the company backed by Warren Buffett had revenue of 11.7 billion yuan in the first quarter, an 11.6 percent decline from the same period a year ago. Its net profit dived 84.35 percent to 266.7 million yuan, from 1.7 billion yuan a year earlier.

The Shenzhen-based company said in the statement that the sharp decrease can be attributed to declining vehicle sales and rising management and financing costs during the period.

Hit by the shrinking demand in China's automobile market, BYD's car sales continued to decline for the 10th consecutive month in May, as its flagship model F3 has fallen to fourth position from No 1 on the domestic top-selling car list.

"The year of 2011 will be a tough one for BYD, for, I believe, it will be hard for the company to achieve its 10-plus percent sales growth target by the end of the year," said Li Kang, an analyst with China Merchants Securities Co Ltd.

"Currently, it doesn't have a competitive and complete product line-up, and it still needs time to get revenue moving in the new-energy vehicle sector."

In April, China's automobile sales experienced their first negative year-on-year growth in more than two years, owing to the expiration of the central government's incentive policies, rising gas prices, and limits placed on car purchases and vehicle use in large cities, plus the earthquake in Japan.

Domestic sales continued to slow down with further negative month-on-month passenger vehicle sales growth in May, sparking concern that the auto industry may have difficulty reaching its previous sales target of 20 million vehicles this year.

Analysts said that because of the downtrend, China's homegrown automakers face more pressure than their foreign rivals because they are weak in quality and branding.

Statistics from the China Passenger Car Association show that in May, the 21 Chinese domestic automakers sold 294,000 passenger cars, a mere 0.2 percent year-on-year increase, and a 7.5 percent decline from the previous month. Leading the trend was Beijing Automotive Group Co Ltd, which saw a 46.4 percent year-on-year sales decline.

Domestic automakers' market share in China also dipped 2.49 percent in the first five months.

Jia Xinguang, an independent auto analyst based in Beijing, said that domestic auto brands' loss of market share is not surprising.

"They are not as capable as foreign automakers regarding their products and operations. And they lack experience to adjust to the rapidly changing market," Jia said. "The (incentive) policy cannot support their development for a long time. They should strengthen their ability to produce high-quality cars."

Zhong Shi, another auto analyst, said that domestic carmakers should also pay great attention to after-sales services to promote their brands.

 

分享按鈕
主站蜘蛛池模板: 丰原市| 浏阳市| 安仁县| 于田县| 郸城县| 桓台县| 贺州市| 玉林市| 石狮市| 会昌县| 鄂托克前旗| 太谷县| 青浦区| 中宁县| 长岭县| 金坛市| 大丰市| 张家港市| 黎川县| 九江县| 望奎县| 崇礼县| 巴中市| 河北省| 抚州市| 孟州市| 岳普湖县| 古丈县| 克拉玛依市| 枣阳市| 灵寿县| 新野县| 秦皇岛市| 台前县| 新干县| 伊金霍洛旗| 南平市| 长治市| 成武县| 翼城县| 灵川县| 扶沟县| 英山县| 雷州市| 阿城市| 平昌县| 邢台县| 怀安县| 尖扎县| 肇庆市| 昌平区| 克东县| 囊谦县| 南投市| 绿春县| 拉萨市| 增城市| 长白| 保亭| 广德县| 石林| 鄢陵县| 遂溪县| 德昌县| 若尔盖县| 霍邱县| 苗栗县| 昭平县| 资阳市| 蛟河市| 上高县| 都昌县| 临高县| 临颍县| 德令哈市| 临西县| 海安县| 双鸭山市| 灯塔市| 南昌县| 杭州市| 高邮市|