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Bloomberg Daybreak: Asia Edition
BYD Earnings, Alibaba Pulls IPO
Mar 27, 2024
Linda Lew discusses BYD's earnings and growth plans, Sarah Zheng talks about Alibaba canceling its IPO, and Shujin Chen breaks down Chinese bank performance post-real estate crisis.
24:26
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Podcast summary created with Snipd AI
Quick takeaways
- BYD expands globally to improve profits through higher pricing in international markets.
- Alibaba's cancellation of Cainiao IPO reflects market challenges and shifts towards core businesses with competition and regulatory uncertainties.
Deep dives
BYD's Financial Performance and EV Market Competition
BYD reported annual profit slightly below analyst estimates, impacted by intense price war and seasonal factors. Despite selling over 3 million electric and hybrid vehicles, they faced challenges in maintaining profits due to price cuts. The company's expansion into international markets like Europe aims to improve margins by commanding higher pricing.
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Discover
highlights
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