BYD Profit Slumps 20.5%, Hit by China Price War and Weak Demand

BYD reported a 20.5% drop in first-half 2026 net profit.

Earnings totaled 12.33 billion yuan ($1.83 billion).

Revenue fell 7.1% to 344.8 billion yuan during the same period.

A prolonged price war and soft domestic demand drove the decline.

Overseas auto exports surged 67.8% to 792,000 units.

International sales helped lift the company's gross margin.

Second-quarter profit rebounded from the first quarter, ending a sequence of declines.

The results highlight the impact of intense competition within the Chinese electric vehicle market.