AutoBeta(AutoBeta.net)05/23 Report--

On May 22nd, BYD announced that its holding subsidiary BYD Automotive Industry Co., Ltd. had received a national new energy vehicle promotion subsidy of about 3.458 billion yuan from Shenzhen Pingshan District Finance Bureau, of which the new energy vehicle subsidy settlement and supplementary settlement fund was about 3.126 billion yuan in 2016 and 332 million yuan in 2017.

BYD said that the receipt of the national new energy vehicle promotion subsidy will increase the group's capital flow, reduce interest payments, reduce financial expenses, and have a positive impact on the group's assets and debts.

In the first quarter of 2019, BYD achieved operating income of 30.304 billion yuan, an increase of 22.50% over the same period last year. Net profit belonging to shareholders of listed companies was 750 million yuan, up 631.98% from the same period last year. In April, 37800 cars were sold, of which 24000 were new energy vehicles,-22% compared with the previous year, + 72.5% from the same period last year, 13800 fuel vehicles,-17% from the previous month, and-41.0% from the same period last year. Electric sales fell in April from a month earlier, slightly lower than expected

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