BYD's first-half net profit plummeted nearly 90% "the investor" still sticks

Every reporter Li Chao a paper from Hong Kong a 88.6% per cent reduction in net profit, so that BYD 23rd stock prices fell to a two-year low, the car companies doubling sales for several years, the first half of this year sold only 220,000 units, the year-on-year decrease of 23%.　　"With improved performance in the second half and next year, we believe our share price will rise," said BYD president Wang, a former media-focused "car maniac". "The investor" floats from 10 times times to one Times 23rd, BYD (01211,HK) closed at HK $16.18, down 14.3%, the lowest since mid-April 2009.　　In addition to the volatile share price of the shares of investors, as well as shares of about 10% of the "Warren" Buffett, from the semi-annual report, Buffett did not reduce the evidence.　　"This is something to ask Mr. Buffett himself, we keep in touch with Mr. Buffett, he can see all sorts of data and we believe that we will keep a good relationship", Mr Wang has been asked this question since the slowdown in BYD's auto sales last year, as is often the answer. Buffett's stake has been a mainstay of BYD's share price for years. Buffett's investment firm Berkshirehathawayinc. (BRKa) subsidiary of Midamericanenergyholdingsco. After buying 10% of BYD's shares at HK $8 a share in 2008, the company's share price soared, surpassing 86 Hong Kong dollars in October 2009, and Buffett's book yield nearly 10 times times. In addition, many H-share investors are also very profitable, BYD's initials represented by the "Buildyourdream" (Build your Dream) also represents the realization of the wealth of shareholders dream. Last year, since BYD plunged into a slowdown in sales growth, dealers "off the net" and other trouble, its share price began to fall, the lowest fell to 44 Hong Kong dollar, "stock market" the yield was halved; in September, Mr Wang invited Mr. Buffett to visit China to make a personal promotion for BYD, and the share price rose to HK $66 again.　　After all, the company's decline in actual performance, "visit China" to support less than one months, BYD stock price has been lower, to the close of the 16.18 Hong Kong dollar yesterday, Buffett's book earnings fell to one-fold. The six-23rd report showed BYD's net profit fell 88.6% per cent year-on-year, the biggest reason for the decline in car sales. Under the leadership of "auto Madman" Wang, BYD's sales target from 200,000 units in 2008 to 400,000 units in 2009, after two consecutive years, Mr Wang set a target of 800,000 units in 2010, which is said to be too high.　　Sure enough, last year's sales were not with this target. Even if BYD changes its former style and no longer targets, it is hard to hide the fact that sales are going backwards.　　Sales of 220,000 units in the first half of the year were down 23% compared with the "slowing growth" of the same period, according to earnings reports. The main battlefield of new energy vehicles suffers from silkwormFood "in the second half I believe it better than the first half, the total is not good, the market competition is more and more fierce, the overall economic situation, including macro-control and so on, have brought about uncertainty", yesterday, Wang still refused to the annual sales target position, "July or August is the traditional off-season, to September is the traditional season, sales will be promoted faster. Mr Wang said the main way to boost car sales in the second half of the year was sales of new models such as S6. "The sales of these high-end models can improve the gross margin level.　　Mr Wang said. The new energy model has been a trump card for BYD, which attracted Buffett's share of the year, but for a long time, BYD's new energy model relies mainly on its headquarters in Shenzhen.　　And all the signs that Shenzhen, the main battlefield is also suffering from encroachment. At the 26th session of the World University Students ' Summer Games in Shenzhen, the Shenzhen government put 2011 new Energy vehicles, accounting for more than 50% of the total traffic demand of 3,810 vehicles in the Universiade, surpassing the total of 500 vehicles in Beijing Olympic Games and 1147 new energy vehicles in Shanghai World Expo.　　But according to media reports, in the 2011 new energy vehicles, BYD only put 500 vehicles, others by the Shenzhen Wuzhou Dragon Motor Co., Ltd.. "We only provide 500 new energy vehicles, mainly battery capacity, if the production can, we will certainly provide more, in fact, the Shenzhen municipal government also wants us to provide more vehicles."　　Mr Wang explains. But it is not hard to find that BYD's new energy vehicles to accelerate the pace of overseas markets, "the end of this year will be to Singapore, Hong Kong, Italy, Milan supply some of the pure electric bus, next year will export pure electric taxi models E6, the company's future confidence to open overseas markets." Mr Wang said.