shenzhen-based

China’s BYD forecasts up to 91 percent profit rise for first nine months

Chinese automaker BYD Co Ltd , backed by Warren Buffett's Berkshire Hathaway Inc , on Sunday predicted an up to 91-percent profit increase in the first nine months of the year, as government policies drive green car sales. The Shenzhen-based company forecast an 83 percent to 91 percent rise in net profit for the first nine months, between 3.6 billion yuan ($539.8 million) to 3.7 billion yuan, according to a stock exchange filing. For the first half of 2016, BYD reported 2.3 billion yuan in profit, a 384 percent increase…

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China’s BYD forecasts up to 91 percent profit rise for first nine months