Chinese Carmakers

Geely's aims for a conservative 5.6 percent growth in sales this year. Photo: Reuters

BYD and Geely record strong profit growth

BYD yesterday said net profit soared 579 per cent last year to 553.09 million yuan (HK$692.8 million) following improved performances in its car, phone components and battery businesses.

Turnover rose 12.1 per cent to 49.77 billion yuan.