BYD's Hong Kong shares fall nearly 8% after quarterly profit drop

Core Viewpoint - Hong Kong-listed shares of BYD experienced a significant decline of up to 7.87% following the announcement of a quarterly profit drop, highlighting the impact of an aggressive price war in the domestic electric vehicle industry [1] Company Summary - BYD reported a profit of 6.4 billion yuan (approximately $891 million) for the June quarter, which represents a decrease of about 30% compared to the same period last year [1] - Despite the profit decline, BYD has seen an expansion in sales overseas, indicating potential growth opportunities outside the domestic market [1]