BYD’s second-quarter net profit rose 30% year on year to 8.2 billion yuan ($1.22 billion), its strongest quarterly profitability in three years, but missed analysts’ 48% growth consensus and contributed to a stock selloff. For January-June 2026, net profit attributable to shareholders fell 20.54% to 12.325 billion yuan ($1.8 billion), while revenue declined 7.13% to 344.815 billion yuan ($51.3 billion). Overseas operating revenue rose 33.92% to 181.27 billion yuan, representing 52.57% of total revenue and exceeding domestic revenue for the first time. BYD sold 1.81 million new energy vehicles, including about 790,000 overseas units, while China Association of Automobile Manufacturers data showed exports of 792,000, up 67.8%; the source also reports 71% growth. BYD attributed pressure to weaker Chinese demand, reduced EV and plug-in hybrid incentives, intense discounting, foreign-exchange losses and expansion costs. The results came as all seven of China’s largest automakers reported lower profit or a net loss for the first half, despite five posting revenue growth, while manufacturers expanded in Europe, Southeast Asia and Latin America to offset a roughly 20% contraction in China’s domestic new-car market.