On October 13, BYD COMPANY fell 3.03% in regular trading, trading at 72.1 HKD/share, with turnover of 548 million HKD. The decline was driven by the disclosure that BlackRock reduced its long position in BYD H-shares from 7.10% to 6.90% as of October 7, dampening market sentiment. Additionally, the reduction of the export tax rebate rate for new energy passenger vehicles to 9% heightened near-term uncertainty over export profitability, adding to selling pressure.
Despite record September sales of 463,561 new energy vehicles, up 16.98% year-on-year, and accelerated overseas expansion, the combination of institutional selling and policy headwinds weighed on the share price. Broader market sentiment in the automobile sector remained mixed, with XPENG-W down 4.42% and LEAPMOTOR down 2.64%.
BYD COMPANY is principally engaged in the manufacturing and sale of transportation equipment, including new energy vehicles, mobile handset components and assembly services, and secondary rechargeable batteries and photovoltaic products, with operations in both domestic and overseas markets.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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