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On Apr. 24, auto-maker BYD revealed its financial report of the first quarter in 2014, indicating that the company realized an operating income of 11.7 billion RMB (1.8708 billion USD), down by 9% year on year. The net profits that belonged to the shareholders of the listed company totaled 11.966 million RMB (1.9134 million USD), down by 89.35% against the same period last year. Basic earnings per share was 0.01 RMB. After deducting its non-recurring profit and loss of 105 million RMB (16.7895 million USD), BYD suffered a loss of 93.493 million RMB (14.9495 million USD) in its net profits.
In the same period, BYD"s deposit received reached 1.86 billion RMB (297.414 million USD), up by 46.17% year on year. The main cause of the rise can be attributed to the increase of deposit received for its vehicles. Due to its new financing lease business, the company"s long-term payables reached 2.754 billion RMB (440.365 million USD).
It is expected that the net profits belonging to the shareholders of the listed company will be somewhere between 350 million and 490 million RMB in the first half of the year, up by around -18.02% to 14.77%.
BYD points out that the new energy vehicle industry is growing rapidly in the first half of 2014. The company"s pure electric bus K9 and its plug-in hybrid vehicles for consumers have been well received by the market, which in return have contributed significantly to the rise of the company"s income and profits. In terms of its traditional vehicles, the market share of its own brand went down slightly as energy-saving vehicles were receiving subsidies. Against such a backdrop, BYD"s traditional vehicles are expected to witness a drop in their sales volume in the first half of 2014.