- Warren Buffett Berkshire Hathaway 1.55 million sold on the Hong Kong Stock Exchange Shares in electric vehicles Manufacturer BYD Co.,Ltd BYDDF BYDDY for 351.81 million RMB (44.85 million US dollars).
- The sale lowered Berkshire’s stake in BYD to 12.9% on Jan. 27, down from 13.04%, Reuters reports.
- Berkshire, which began selling BYD shares in late August, has cumulatively reduced its holdings by more than a third.
- Buffett’s company acquired 225 million shares of BYD in 2008, giving it a 20.49% stake.
- BYD expects 2022 net income growth of 425.42% to 458.26% YoY.
- The growth trajectory of the new energy vehicle industry, coupled with a higher proportion of major overseas customers, led to the forecast.
- Sales of BYD new-energy vehicles surged to 1.86 million last year from about 604,000 in 2021, despite the resurgence of China’s Covid-19.
- In January, BYD launched the first of two new luxury electricVehicle brands it launches this year.
- Price promotion: BYDDF shares traded 0.3% lower at $33.40 on the last check Thursday.
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