BYD's first-quarter net profit fell by 83% year-on-year.

According to the micro-network news, BYD recently announced a quarterly report showing that first-quarter net profit fell by 83% year-on-year. It is expected that net profit for the first half of this year will be 300 million to 500 million yuan, a year-on-year change of -82.59% to -70.98%. Among them, BYD Electronics is a major player in the Hong Kong stock market. The stock price was the lowest since September 2017.

Dammam published a research report saying that BYD Electronics' first-quarter performance was 13% lower than the bank's forecast. Revenue rose 5% year-on-year and fell 13% quarter-on-quarter to 8.946 billion yuan. Gross margin fell to 9.8%. Last year was the fourth quarter. 10.1%, compared with 10.5% in the same period of last year, the bank believes that it was mainly dragged by the drop in gross margin of metal shells.

The bank also said that BYD's profitability is roughly linked with Samsung's metal casing business, and the bank's investigation found that Samsung is increasing internal procurement and demand is falling, which is unfavorable to BYD. In addition, BYD's 3D technology and its glass casing are only for the time being. The use of ultra high-end models, the trend has not yet formed, the product pricing pressure.