BYD released its first quarter of 2018 report net profit dropped by 83.09%
(BYD released its first quarter of 2018, reporting a drop in net profit of 83.09%.) On April 27, BYD released its first quarterly report for 2018. The company's operating income for the first three months was 24.738 billion yuan, a year-on-year increase of 17.54%. Realized a net profit of 102 million yuan, a year-on-year decrease of 83.09%.
According to the report, in the second quarter of 2018, the company’s new energy automotive business is expected to continue its strong growth momentum in the first quarter, and its sales volume will continue to grow at a high rate year-on-year, but it will be affected by subsidies, including electric buses and new energy passenger vehicles. The overall profit of the new energy auto business has dropped significantly compared to the same period of last year. In terms of traditional auto business, although the second quarter was the traditional off-season of the industry, the continuous sales of Song Max continued to drive the rapid growth of the company's traditional auto sales, but fierce competition in the industry still affected the profitability of the business to a large extent. In the mobile phone parts and assembly business, the metal parts business continued to receive orders from flagship models of leading global brands to achieve a steady development. The glass casing business achieved the shipment of high-end flagship models and achieved a greater degree of scale production. The mobile phone parts business achieved a significant growth year-on-month. For the photovoltaic business, it is expected to maintain steady development in the second quarter.
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