BYD 2012 Net Profit Down 94%

Chinese BYD Co

reported a 94% drop in its 2012 net profit. BYD's net profit for the year tumbled to 81.4 million yuan (US$13 million), from CNY1.38 billion, in the year-ago period. Its 2012 revenue dropped 4% to CNY46.85 billion versus CNY48.83 billion. BYD shares closed at $6.38 on Friday.