Warren Buffett's Chinese line aims at New energy

Warren Buffett, the world's leading investor, was flown to Shenzhen on September 27 afternoon to begin a three-and-a-half-day trip to China, at the invitation of BYD, which is headquartered in Shenzhen. Buffett's investment in global projects, the total amount of up to hundreds of millions of U.S. dollars, and BYD's investment is only 230 million U.S. dollars, can be said to be negligible. The Buffett visit to China's BYD, a large lineup.　　Buffett spent three days and a half time to lead so many people to study BYD, it is visible to BYD's future development prospects are very optimistic, but also optimistic about China's electric vehicles and new energy industry development prospects.　　Mr. Buffett's visit to BYD focuses on projects related to electric cars, such as BYD's battery-diaphragm paper workshop and electric-car charging stations.　　Buffett's shares in BYD, the main focus on BYD's future in the field of electric vehicle development prospects.　　In addition to electric cars, BYD independent research and development of energy storage power plants, solar power plants and other new technologies, is also the focus of Buffett's study. Mr. Buffett's China-US energy company, in 2008, wants to buy a 25% stake in a Hong Kong-listed BYD company. BYD did not agree that it was not short of money. BYD later agreed to Buffett's shares, but not more than 10%. At that time 10% BYD shares the market value of 230 million U.S. dollars, and Buffett's investment starting point is 500 million U.S. dollars.　　In the end, as a strategic investment, Mr. Buffett bought a 10% stake in BYD, a shareholder in BYD, at HK $1.8 billion (230 million US dollars).　　Two years in the past, Buffett's 10% stake in BYD's shares has risen to nearly 1.7 billion dollars. Sales and profits rose by more than 50% over a year earlier, according to BYD, the first half of the year.　　Auto business accounted for 53.58% of total turnover, becoming the main driver of BYD's growth. BYD, a mobile phone battery, is a dark horse in China's auto industry, which has developed rapidly in recent years. In the traditional automotive sector, BYD has become among China's top ten passenger car manufacturers.　　In the field of new energy vehicles, BYD developed a car with lithium batteries, in the world's leading position. On the eve of Mr Buffett's visit, the stock market in Hong Kong reacted positively ahead of the day, with the shares of BYD listed in the Hong Kong exchange rising more than 20%. According to Xinhua