0729 GMT – BYD Co. is one of the most mentioned companies in the news over the past eight hours, according to Factiva data, after it reported strong 2022 earnings. The Chinese electric vehicle maker reported late Tuesday that its revenue nearly doubled compared with 2021, while its net profit rose to 16.62 billion yuan ($2.42 billion) compared with CNY3.05 billion a year earlier on sales of 6.89 million units, a 93% increase. BYD said it expects sales and market penetration of electric vehicles to continue to show strong momentum in 2023, and it is continuing to enhance the competitiveness of its products as it expands its offerings to overseas markets. Shares were last up 3.0% at HK$217.80 in Hong Kong. Dow Jones & Co. owns Factiva. (jacques.vanwersch@dowjones.com)
(END) Dow Jones Newswires
March 29, 2023 03:44 ET (07:44 GMT)
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