BYD revenue, profit surge in Q1

SHENZHEN - China's leading new energy vehicle (NEV) manufacturer BYD Company Limited reported surging profit and revenue growth in the first quarter of 2021.

In the latest quarterly report filed with the Shenzhen Stock Exchange, the Shenzhen-headquartered company said it recorded 237 million yuan ($36.6 million) of net profits in the past quarter, up 110.7 percent year-on-year.

During the January-March period, the company's revenues soared 108.3 percent year-on-year to 40.99 billion yuan.