Carmaker BYD caught in drag from solar business, lower car demand

Mainland electric carmaker BYD's third-quarter profit slumped 94 per cent due to weak domestic demand and losses from it solar panel business.

The Shenzhen-based company forecast the full-year net profit to slide up to 98 per cent compared with last year, saying it could post profit of between 27.7 million yuan (HK$34.6 million) and 110.8 million yuan, compared with 1.38 billion yuan last year.

via Business feed http://www.scmp.com/business/companies/article/1072816/carmaker-byd-caught-drag-solar-business-lower-car-demand