BYD shares slide as fierce China competition dents first-half earnings

* BYD shares fell nearly 5% in Hong Kong after interim results * First-half revenue 344.8B yuan (-7.1%), net profit 12.3B yuan (-20.5%) * Exports up 67.8% to 792K vehicles, strong premium-brand growth BYD shares fell ~5% in Hong Kong after reporting first-half revenue of 344.8B yuan (down 7.1%) and net profit of 12.3B yuan (down 20.5%). The EV maker cited sluggish domestic demand, intense competition, and higher raw-material costs. Exports rose 67.8% to 792K vehicles, and premium brands FANGCHENGBAO, Denza, and Yangwang grew 61%. Citi expects 3Q core earnings of 13.5B yuan and full-year net profit of 41.2B yuan, 8% above consensus.