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© Reuters. FILE PHOTO: A BYD Seal electric vehicle (EV) is displayed at a car dealership in Shanghai, China, February 3, 2023. REUTERS/Aly Song
BEIJING (Reuters) – Chinese electric vehicle giant BYD Co (OTC:) Ltd reported an 11-fold increase in fourth-quarter profit as it extended its lead in the domestic market with a wide range of products. Net profit for October-December came in at 7.3 billion yuan ($) versus 602 million yuan a year earlier. For the whole of 2022, net profit increased 446% to 16.6 billion yuan, said the company, which is 12% owned by Warren Buffett’s Berkshire Hathaway (NYSE:). The results were in line with a company forecast published in January.
($1 = 6.8755 renminbi)
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