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China's BYD Co (OTC: BYDDY) reported an increase in its first-half net profit.

BYD's net profit for the six months surged to 427 million yuan ($69.8 million), from CNY16.27 million, in the year-ago period. The company had earlier expected a net profit of CNY400 million to CNY500 million.

Its revenue climbed 13% to CNY24.24 billion.

BYD shares closed at $8.24 on Friday.

Posted-In: profitEarnings News


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