BEIJING:&nbsp;<a href="https://www.pakistantv.com/article/canada-to-import-49000-chinese-evs-at-preferential-tariff-rates-pm-carney" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Chinese electric vehicle</a>&nbsp;(EV) giant BYD said on Friday its annual net profit in 2025 fell 19% from a year earlier as it battled weak spending and fierce competition at home while looking to expand overseas.&nbsp;BYD&#39;s net profit attributable to shareholders last year was 32.6 billion yuan ($4.7 billion), down from 40.3 billion yuan in 2024, the company said in a filing to the Hong Kong Stock Exchange.&nbsp;BYD &mdash; which uses the English slogan &quot;Build Your Dreams&quot; &mdash;&nbsp;has emerged in recent years as the clear leader in China&#39;s highly competitive EV market, the world&rsquo;s largest.&nbsp;China&#39;s EV industry is world-leading but a cutthroat domestic market has weighed on profitability, with BYD and other carmakers turning to overseas markets in response.&nbsp;Scrutiny of the EV market is also growing, with a top industry group rebuking Chinese automakers last May for fueling a price war, a week after BYD announced sweeping trade-in discounts.&nbsp;&quot;Competition in the NEV industry has reached a fever pitch, and is undergoing a brutal &#39;knockout stage&#39;,&quot; BYD&#39;s chairman Wang Chuanfu said in a statement, using an acronym for new energy vehicles.&nbsp;BYD recorded 804 billion yuan in revenue last year, up a modest 3.5% compared to 2024.&nbsp;Its annual revenue surpassed that of its American rival&nbsp;<a href="https://www.pakistantv.com/article/tesla-teases-tuesday-event-as-focus-shifts-to-affordable-evs" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Tesla</a>&nbsp;in 2024 and crossed the symbolic $100 billion mark, at 777 billion yuan.&nbsp;However, profit in the third quarter of 2025 slumped by 33% year-on-year, its second consecutive quarterly decline.&nbsp;The recent slowdown comes after a period of sustained, intense growth, and BYD&#39;s profit in the first quarter of 2025 was a record for the company in that reporting period.&nbsp;BYD&#39;s overseas ambitions appear to be gathering pace, with its vehicles now operating in &quot;119 countries and regions worldwide&quot;, according to Friday&#39;s filing.&nbsp;It sold more than 13,000 units in European Union countries in September, a year-on-year increase of 272.1 percent, according to a report by the European Automobile Manufacturers&#39; Association.

Business

The Chinese EV-maker reported a 19% drop in 2025 net profit due to weak demand and intense competition, despite rising revenue and expanding global sales as it targets overseas markets for growth.

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Chinese EV giant BYD says annual net profit down 19%