Profit fell carmaker Chinese electric batteries "BYD" during the past year by 94.12% at a time when the company expects improved earnings during the first quarter of the current year
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The company, which is headquartered in the city of Chinese Hienchen and specializes in the manufacture of electric cars and batteries rechargeable and photovoltaic cells, that profits during the past year amounted to 81.38 million yuan, equivalent to 13 million dollars, a decrease of 94.12% from the previous year.
The news agency quoted China's Xinhua about the company statement sent to Stock Exchange Hienchen Securities that its revenues over the past year fell by 4.04% to 46.85 billion yuan, while profits declined basic per share rose 95% to 0.03 yuan.
The company attributed the profit decline to a contraction of the solar energy market, stating that 2012 was "a very difficult year for China's photovoltaic industry.
The company said increased revenue from sales of electric vehicles and conventional vehicles steadily last year, while the deterioration of the performance of the components sector mobile phones due to shrinking market shares of its main clients in this sector.
Expects "BYD" profit ranging between 100 and 140 million yuan in the first quarter of this year thanks to strong sales of cars and solar energy market recovery during the first three months of the current year.
The company, which is headquartered in the city of Chinese Hienchen and specializes in the manufacture of electric cars and batteries rechargeable and photovoltaic cells, that profits during the past year amounted to 81.38 million yuan, equivalent to 13 million dollars, a decrease of 94.12% from the previous year.
The news agency quoted China's Xinhua about the company statement sent to Stock Exchange Hienchen Securities that its revenues over the past year fell by 4.04% to 46.85 billion yuan, while profits declined basic per share rose 95% to 0.03 yuan.
The company attributed the profit decline to a contraction of the solar energy market, stating that 2012 was "a very difficult year for China's photovoltaic industry.
The company said increased revenue from sales of electric vehicles and conventional vehicles steadily last year, while the deterioration of the performance of the components sector mobile phones due to shrinking market shares of its main clients in this sector.
Expects "BYD" profit ranging between 100 and 140 million yuan in the first quarter of this year thanks to strong sales of cars and solar energy market recovery during the first three months of the current year.
