https://www.scmp.com/rss/40555/feed Berkshire Hathaway is controlled by Warren Buffett, who is chairman and chief executive of the company which owns a range of companies, including GEICO and NetJets, a substantial stake in Heinz, and has stakes in American Express, Procter & Gamble and IBM. The company is noted for outperforming the stock market under the leadership of Buffett, a value investor. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Chow Chung-yan Chow Chung-yan In today’s chaotic world, we can sum up the shift in the global economy and geopolitics with a single number: 1 trillion. The year 2024 will be remembered as the first time in history that a national government’s interest payments on its debt exceeded US$1 trillion, according to data from the Federal Reserve Bank of St Louis. Despite US President Donald Trump’s pledge to cut federal spending and his aggressive global trade war, the United States is now adding US$1 trillion in national debt every... https://www.scmp.com/news/china/diplomacy/article/3339507/forget-venezuela-and-greenland-here-real-trillion-dollar-question?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3339507/forget-venezuela-and-greenland-here-real-trillion-dollar-question?utm_source=rss_feed Mon, 12 Jan 2026 01:00:15 +0000 Alice Yan Alice Yan A divorce case in China that has lasted 15 years has finally reached a judgment, ordering alimony of 536 million yuan (US$75 million), sparking significant attention on social media. The husband, Zhao Bingxian, 63, is often referred to as China’s Warren Buffett due to his remarkable record in financial investments. In early November, the Beijing No 3 Intermediate People’s Court issued a verdict during the second hearing of the divorce case between Zhao and his wife, Lu Juan. The ruling mandates... https://www.scmp.com/news/people-culture/china-personalities/article/3332304/us75-million-divorce-china-court-rules-ex-wife-pharma-tycoon-gets-half-firm-shares?utm_source=rss_feed https://www.scmp.com/news/people-culture/china-personalities/article/3332304/us75-million-divorce-china-court-rules-ex-wife-pharma-tycoon-gets-half-firm-shares?utm_source=rss_feed Wed, 12 Nov 2025 01:00:18 +0000 Bloomberg Bloomberg Warren Buffett on Monday assured Berkshire Hathaway shareholders they should stick around as he prepares to depart as chief executive, giving a full-throated endorsement to his successor Greg Abel and promising to remain a major shareholder. In a letter to Berkshire shareholders, likely his last before he steps down at the year-end, the 95-year-old Buffett said he would be “going quiet” as Abel takes the lead in communicating with them. Buffett also downplayed recent declines in Berkshire’s... https://www.scmp.com/business/companies/article/3332263/warren-buffett-signals-smooth-transition-greg-abel-letter-berkshire-shareholders?utm_source=rss_feed https://www.scmp.com/business/companies/article/3332263/warren-buffett-signals-smooth-transition-greg-abel-letter-berkshire-shareholders?utm_source=rss_feed Tue, 11 Nov 2025 01:28:29 +0000 SCMP SCMP We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. Warren Buffett exits BYD amid China’s cutthroat EV market Berkshire Hathaway, the investment firm controlled by US billionaire investor Warren Buffett, has liquidated its holdings in Chinese electric vehicle (EV) maker BYD, closing out a 17-year investment run that generated a more... https://www.scmp.com/business/china-evs/article/3327463/chinas-byd-expects-sales-bump-xiaomi-recalls-more-100000-su7s-7-ev-reads?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3327463/chinas-byd-expects-sales-bump-xiaomi-recalls-more-100000-su7s-7-ev-reads?utm_source=rss_feed Wed, 01 Oct 2025 07:00:11 +0000 Zhang Shidong Zhang Shidong Alibaba Group Holding’s ambitious investment in artificial intelligence and an endorsement by one of the world’s most influential technology investors lifted its Hong Kong shares to a four-year high. Star US fund manager Cathie Wood bought a combined US$16.3 million of Alibaba shares, her first investment in the Chinese e-commerce giant in four years and a vote of confidence in the company’s focus on AI and on-demand delivery services. Wood’s Ark Fintech Innovation ETF bought US$8.18 million of... https://www.scmp.com/business/china-business/article/3326634/us-investor-cathie-woods-ark-buys-alibaba-shares-first-time-4-years?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3326634/us-investor-cathie-woods-ark-buys-alibaba-shares-first-time-4-years?utm_source=rss_feed Wed, 24 Sep 2025 04:39:35 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Chery Automobile, China’s second-largest carmaker, was reportedly set to price its HK$9.14 billion (US$1.2 billion) Hong Kong initial public offering at the top of the sales range, even as a cooling economy and rampant competition weigh on the Chinese auto industry. The shares, which are due to start trading on Thursday, will be priced at HK$30.75 apiece, Reuters said, citing unidentified people. The maker of petrol-powered cars and electric vehicles (EVs) has the option to enlarge the sale,... https://www.scmp.com/plus/article/3326546/chery-auto-ipo-shows-china-confidence-withstands-economic-clouds?utm_source=rss_feed https://www.scmp.com/plus/article/3326546/chery-auto-ipo-shows-china-confidence-withstands-economic-clouds?utm_source=rss_feed Tue, 23 Sep 2025 09:00:42 +0000 Zhang Shidong Zhang Shidong Berkshire Hathaway, the investment firm controlled by US billionaire investor Warren Buffett, has liquidated its holdings in Chinese electric vehicle (EV) maker BYD, closing out a 17-year investment run that generated a more than 30-fold increase for the leading investment conglomerate. The latest quarterly report from Berkshire Hathaway Energy, the subsidiary that directly held Hong Kong-listed shares of the Chinese EV maker, indicated a zero position in BYD, confirming a full exit after a... https://www.scmp.com/business/china-business/article/3326359/warren-buffetts-berkshire-hathaway-wraps-17-year-investment-chinese-ev-maker-byd?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3326359/warren-buffetts-berkshire-hathaway-wraps-17-year-investment-chinese-ev-maker-byd?utm_source=rss_feed Mon, 22 Sep 2025 06:18:55 +0000 Daniel Ren Daniel Ren In a rare move, more than three dozen BYD executives increased their stakes in the world’s largest electric-vehicle (EV) maker, which is likely to boost investor confidence after its shares plunged more than 20 per cent from an all-time high in May. Thirty-seven executives, including five vice-presidents, spent a combined 52.3 million yuan (US$7.3 million) to buy 488,200 Shenzhen-listed shares to “display their continued optimism about the investment value of the company”, BYD said in filings to... https://www.scmp.com/business/banking-finance/article/3325141/byd-executives-buy-shares-show-confidence-ev-makers-investment-value?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3325141/byd-executives-buy-shares-show-confidence-ev-makers-investment-value?utm_source=rss_feed Thu, 11 Sep 2025 05:07:05 +0000 Daniel Ren Daniel Ren BYD, the world’s largest electric vehicle (EV) maker, is doubling down on its expansion in Europe, opening more showrooms and launching new models as its growth slows in China. The Shenzhen-based company, which counts Warren Buffett’s Berkshire Hathaway as a minority shareholder, plans to operate 2,000 outlets across the continent in 2026, up from a projected 1,000 by the end of this year, according to Stella Li, an executive vice-president. Speaking at the IAA Mobility car show in Munich on... https://www.scmp.com/business/china-business/article/3324856/byd-ramps-showroom-openings-targets-production-europe-offset-slowdown-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3324856/byd-ramps-showroom-openings-targets-production-europe-offset-slowdown-china?utm_source=rss_feed Tue, 09 Sep 2025 07:00:09 +0000 Ishani Sarkar Ishani Sarkar The world’s fifth richest person (at the time of writing), Berkshire Hathaway CEO Warren Buffett, is well known for his philanthropy. Earlier this year, the 94-year-old announced plans to donate over 99 per cent of his US$152.8 billion fortune to a charitable trust that his three children – Susie, Howard and Peter Buffett – will be in charge of. The Buffett siblings have been tasked with allocating the money to charities of their choosing within 10 years of their father’s death. Given the... https://www.scmp.com/magazines/style/people/icons-influencers/article/3314277/who-lili-buffett-warren-buffetts-granddaughter-law-fashion-forward-finance-executive-whos-been?utm_source=rss_feed https://www.scmp.com/magazines/style/people/icons-influencers/article/3314277/who-lili-buffett-warren-buffetts-granddaughter-law-fashion-forward-finance-executive-whos-been?utm_source=rss_feed Fri, 13 Jun 2025 20:00:08 +0000 Ishani Sarkar Ishani Sarkar Ninety-four-year-old billionaire Warren Buffett – CEO of Berkshire Hathaway and the sixth richest man in the world – just announced that he is finally stepping down from his company after 55 years. The world famous investor admitted to the Wall Street Journal last week that he’s been slowing down in his old age, and has been forgetting names and struggling to be able to read newspapers clearly. “I didn’t really start getting old, for some strange reason, until I was about 90, but when you start... https://www.scmp.com/magazines/style/entertainment/article/3310891/meet-billionaire-warren-buffetts-musician-son-peter-buffett-stanford-dropout-scored-scene-dances?utm_source=rss_feed https://www.scmp.com/magazines/style/entertainment/article/3310891/meet-billionaire-warren-buffetts-musician-son-peter-buffett-stanford-dropout-scored-scene-dances?utm_source=rss_feed Mon, 19 May 2025 22:00:11 +0000 Associated Press Associated Press Warren Buffett shocked an arena full of his shareholders on Saturday by announcing that he wants to retire at the end of the year. Buffett said he will recommend to Berkshire Hathaway’s board that Vice-Chairman Greg Abel should become CEO at the end of the year. “I think the time has arrived where Greg should become the Chief Executive office of the company at year end,” Buffett said. Abel has been Buffett’s designated successor for years and he already manages all of Berkshire’s non-insurance... https://www.scmp.com/news/world/united-states-canada/article/3308986/warren-buffett-says-us-shouldnt-use-trade-weapon-trump-has-done-tariffs?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3308986/warren-buffett-says-us-shouldnt-use-trade-weapon-trump-has-done-tariffs?utm_source=rss_feed Sat, 03 May 2025 16:53:21 +0000 Daniel Ren Daniel Ren Chinese electric-car (EV) maker BYD is setting new sales milestones in its global rivalry with Tesla, after snatching its crown as the world’s biggest in terms of deliveries. The Shenzhen-based company raked in a 29 per cent jump in 2024 annual revenue to an all-time high of 777 billion yuan (US$101.1 billion), according to results published late on Monday, surpassing Tesla’s US$97.7 billion sales in the same period. BYD, the subject of ridicule for Tesla’s CEO Elon Musk in 2011, started... https://www.scmp.com/business/china-evs/article/3303851/byd-beats-tesla-again-sales-top-us100-billion-surging-ev-deliveries?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3303851/byd-beats-tesla-again-sales-top-us100-billion-surging-ev-deliveries?utm_source=rss_feed Tue, 25 Mar 2025 12:31:24 +0000 Daniel Ren Daniel Ren Top global electric vehicle (EV) maker BYD has launched a new sedan that aims to rival the features of Tesla’s Model 3 – long the mainland market’s top selling EV – for around half the price. The Qin L starts at 119,800 yuan (US$16,517), while the basic edition of the Model 3 is priced at 235,500 yuan. Shenzhen-based BYD’s new sedan has a driving range of 545km, while the Model 3 offers 634km. Both cars feature preliminary self-driving software and a digital cockpit. Launched on Sunday, the Qin... https://www.scmp.com/business/china-evs/article/3303614/chinas-byd-launches-ev-rival-teslas-top-seller-around-half-price?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3303614/chinas-byd-launches-ev-rival-teslas-top-seller-around-half-price?utm_source=rss_feed Mon, 24 Mar 2025 09:00:08 +0000 Xinmei Shen Xinmei Shen Alibaba Group Holding has been named the world’s most admired Chinese internet and retail company, according to the latest rankings by US business magazine Fortune, as the technology giant unveils an artificial intelligence (AI) model aimed at competing with China’s hottest start-up, DeepSeek. The Hangzhou-based company, owner of the South China Morning Post, came third in the internet service and retailing category on Fortune’s 2025 list of the World’s Most Admired Companies, trailing only US... https://www.scmp.com/tech/big-tech/article/3297029/alibaba-named-most-admired-chinese-internet-firm-fortune-amid-race-deepseek?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3297029/alibaba-named-most-admired-chinese-internet-firm-fortune-amid-race-deepseek?utm_source=rss_feed Sun, 02 Feb 2025 04:00:16 +0000 Yi Luo Yi Luo Chinese-American billionaire and low-key entrepreneur-investor Duan Yongping publicly praised e-commerce giant PDD Holdings’ Temu for its marketing success, highlighting the budget-shopping site’s high-profile advertisements during the Super Bowl in 2023 and 2024. “The Super Bowl is a great platform for advertising, but I never managed to make it there,” Duan said during a speech at his alma mater Zhejiang University on Sunday. “Colin Huang Zheng, founder of Temu, did it.” “Almost everybody in... https://www.scmp.com/tech/big-tech/article/3293630/pdds-chinese-american-billionaire-investor-duan-yongping-heaps-praise-temu?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3293630/pdds-chinese-american-billionaire-investor-duan-yongping-heaps-praise-temu?utm_source=rss_feed Mon, 06 Jan 2025 13:00:18 +0000 Daniel Ren Daniel Ren BYD is set to overtake perennial market leader Volkswagen as China’s biggest carmaker in 2024 after outselling the German company’s joint venture units in the first 10 months, as the growing popularity of battery-powered cars strengthens its market dominance. The Shenzhen-based company delivered 2.9 million pure electric and hybrid cars to customers worldwide this year through October, a 35 per cent increase from a year earlier. Sales are likely to top 4 million units this year, according to... https://www.scmp.com/business/china-business/article/3287079/byd-overtake-volkswagen-ventures-chinas-top-producer-amid-surge-ev-deliveries?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3287079/byd-overtake-volkswagen-ventures-chinas-top-producer-amid-surge-ev-deliveries?utm_source=rss_feed Mon, 18 Nov 2024 11:30:15 +0000 China’s electric-vehicle (EV) producers are cranking up price discounting to an unprecedented level this year to lure buyers. They are boosting sales at the expense of profit margins, leaving many struggling with cash crunches. BYD, Xpeng, Li Auto and Geely Auto and other domestic peers have slashed prices on a record 124 EV models from January to September this year, according to data published by the China Passenger Car Association (CPCA). That has already surpassed the 97 models in all of... https://www.scmp.com/business/china-business/article/3281896/chinas-ev-war-byd-peers-take-discounting-new-lows-expense-margins?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3281896/chinas-ev-war-byd-peers-take-discounting-new-lows-expense-margins?utm_source=rss_feed Thu, 10 Oct 2024 11:00:00 +0000 The market value of Berkshire Hathaway surpassed US$1 trillion on Wednesday, reflecting investor confidence in the conglomerate that Warren Buffett built over nearly six decades into what many consider a proxy for the American economy. Berkshire joined six other companies, mainly from the technology sector, above US$1 trillion: Apple, Nvidia, Microsoft, Google parent Alphabet, Amazon.com and Facebook parent Meta Platforms. The valuation is based on Berkshire’s 553,234 class A and 1,325,192,508... https://www.scmp.com/news/world/united-states-canada/article/3276305/warren-buffetts-berkshire-hathaway-tops-us1-trillion-joining-tech-firms-apple-nvidia?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3276305/warren-buffetts-berkshire-hathaway-tops-us1-trillion-joining-tech-firms-apple-nvidia?utm_source=rss_feed Wed, 28 Aug 2024 14:39:21 +0000 Illinois Governor J.B. Pritzker was not “very demure, very mindful” when he boasted about his billionaire status at the Democratic National Convention in Chicago earlier this week. “Donald Trump thinks that we should trust him on the economy because he claims to be very rich … but take it from an actual billionaire, Trump is rich in only one thing – stupidity,” the 59-year-old told the cheering audience on day two of the DNC. Moments before him, Vermont Senator Bernie Sanders advocated for... https://www.scmp.com/magazines/style/entertainment/article/3275461/meet-jb-pritzker-actual-billionaire-who-just-dissed-trump-dnc-illinois-governors-net-worth-comes-his?utm_source=rss_feed https://www.scmp.com/magazines/style/entertainment/article/3275461/meet-jb-pritzker-actual-billionaire-who-just-dissed-trump-dnc-illinois-governors-net-worth-comes-his?utm_source=rss_feed Thu, 22 Aug 2024 20:00:15 +0000 Major US stock indexes ended sharply lower on Monday as US recession worries shook global markets and drove investors out of risky assets, while Apple shares dropped as Berkshire Hathaway cut its stake in the company. The recession concerns followed weak economic data last week, including Friday’s soft US payrolls report. Indexes pared losses in late morning after data showed US services sector activity in July rebounded from a four-year low amid a rise in orders and employment. Shares of Apple... https://www.scmp.com/news/world/united-states-canada/article/3273311/apple-nvidia-lead-sell-stock-markets-plunge-us-recession-fears?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3273311/apple-nvidia-lead-sell-stock-markets-plunge-us-recession-fears?utm_source=rss_feed Mon, 05 Aug 2024 14:38:27 +0000 Daniel Ren Daniel Ren BYD, the world’s largest electric vehicle (EV) builder, has agreed to buy a 20 per cent stake in its Thailand distributor as it ramps up efforts to tap the Southeast Asian market while it faces higher tariffs in the US and the European Union. The Shenzhen-based carmaker announced that it signed a pact with Rever Automotive on Saturday. It did not disclose the terms. The signing came just two days after the carmaker, backed by Warren Buffett’s Berkshire Hathaway, put its first Thailand-based... https://www.scmp.com/business/china-business/article/3269609/chinese-ev-maker-byd-buys-stake-thailand-distributor-after-opening-local-factory?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3269609/chinese-ev-maker-byd-buys-stake-thailand-distributor-after-opening-local-factory?utm_source=rss_feed Mon, 08 Jul 2024 10:30:13 +0000 BYD has unveiled a new and improved version of its plug-in hybrid technology that it hopes will encourage more widespread adoption of electric vehicles (EVs) in the world’s largest automotive market, ratcheting up pressure on traditional carmakers like Volkswagen and General Motors. The world’s bestselling EV builder, backed by Warren Buffett’s Berkshire Hathaway, said two brand new models to be fitted with the new technology will become pioneers that help propel a transition to electrification... https://www.scmp.com/business/china-business/article/3264523/china-ev-wars-byd-mounts-big-challenge-petrol-guzzling-rivals-its-new-fuel-efficient-hybrid?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3264523/china-ev-wars-byd-mounts-big-challenge-petrol-guzzling-rivals-its-new-fuel-efficient-hybrid?utm_source=rss_feed Wed, 29 May 2024 06:28:38 +0000 Tesla regained its crown as the world’s biggest seller of pure electric vehicles (EVs) in the first quarter, as Huawei Technologies and other start-ups snapped at the heels of the market leader BYD, driving the industry into a ferocious price war in China. Deliveries by the Austin, Texas-based company fell 20 per cent to 386,810 units worldwide in the first three months, according to a statement on Tuesday. However, that surpassed BYD’s deliveries, which tumbled 43 per cent to 300,114 units in... https://www.scmp.com/business/china-business/article/3257701/tesla-knocks-byd-its-perch-worlds-largest-pure-ev-makers-struggle-win-new-customers-chinas-shrinking?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3257701/tesla-knocks-byd-its-perch-worlds-largest-pure-ev-makers-struggle-win-new-customers-chinas-shrinking?utm_source=rss_feed Wed, 03 Apr 2024 07:54:02 +0000 BYD, the world’s largest electric-vehicle (EV) maker, is targeting a 20 per cent increase in sales this year, just a third of last year’s tally, as overcapacity concerns and a price war loom over the sector in mainland China. Wang Chuanfu, the Shenzhen-based carmaker’s chairman and president, told an investors’ conference on Wednesday that deliveries in 2024 could top 3.6 million units, 20 per cent more than last year’s 3.02 million units, according to the meeting’s minutes seen by the Post. The... https://www.scmp.com/business/china-business/article/3257132/byd-chairman-wang-chuanfu-expects-sales-growth-slow-2024-banks-export-surge-shore-profitability?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3257132/byd-chairman-wang-chuanfu-expects-sales-growth-slow-2024-banks-export-surge-shore-profitability?utm_source=rss_feed Thu, 28 Mar 2024 13:00:08 +0000 BYD, the world’s largest electric vehicle (EV) maker, plans to buy back 400 million yuan (US$55.56 million) worth of its mainland-listed shares, with the aim of lifting the company’s stock price amid concerns about escalating competition in China. Shenzhen-based BYD, backed by Warren Buffett’s Berkshire Hathaway, will tap its own cash reserves to repurchase at least 1.48 million yuan-denominated A shares, or about 0.05 per cent of its total, before cancelling them, according to the company’s... https://www.scmp.com/business/china-business/article/3254426/chinas-byd-spend-us55-million-buy-back-shenzhen-listed-shares-worlds-largest-ev-maker-eyes-higher?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3254426/chinas-byd-spend-us55-million-buy-back-shenzhen-listed-shares-worlds-largest-ev-maker-eyes-higher?utm_source=rss_feed Wed, 06 Mar 2024 13:24:38 +0000 BYD, the world’s largest electric-vehicle (EV) maker, has launched a new model in India and started construction on a factory in Brazil. The company’s push into potentially huge overseas markets coincides with a discount war in mainland China, where fiercer competition is seen hurting carmakers’ profitability amid narrowing margins. The Shenzhen-based carmaker, backed by Warren Buffett’s Berkshire Hathaway, is now taking orders for the Seal, a premium battery-powered sedan with a starting price... https://www.scmp.com/business/china-business/article/3254350/chinas-byd-launches-third-ev-model-india-starts-work-brazil-plant-it-revs-overseas-expansion?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3254350/chinas-byd-launches-third-ev-model-india-starts-work-brazil-plant-it-revs-overseas-expansion?utm_source=rss_feed Wed, 06 Mar 2024 05:58:25 +0000 BYD, the world’s largest electric-vehicle (EV) maker, has started taking orders for the Yangwang U9, pricing the all-electric supercar at 1.68 million yuan (US$233,400), as it tries to lure rich Chinese consumers away from high-end foreign carmakers such as Ferrari and Lamborghini. The U9, which can reach a top speed of 309 kilometres per hour, is expected to be delivered to buyers in the middle of 2024, helping the Shenzhen-based company, better known for making mass-model EVs, to showcase its... https://www.scmp.com/business/china-business/article/3253208/china-evs-byd-looking-take-ferrari-lamborghini-yangwang-u9-supercar?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3253208/china-evs-byd-looking-take-ferrari-lamborghini-yangwang-u9-supercar?utm_source=rss_feed Mon, 26 Feb 2024 07:00:51 +0000 After four consecutive years of decline, Hong Kong’s benchmark Hang Seng Index has dropped to levels last seen in October 2022. Financial analysts are valuing it at just 7.6 times the expected earnings this year, compared to 20.4 times for the S&P 500 in the US. Hong Kong is now one of the cheapest stock markets in the world, ranking alongside Colombia (6.6 times) and Argentina (7.6 times). Such low valuation levels normally attract “value” investors from across the globe. But despite these deep... https://www.scmp.com/comment/opinion/article/3250836/heres-how-corporate-leaders-can-boost-hong-kongs-moribund-stock-market?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3250836/heres-how-corporate-leaders-can-boost-hong-kongs-moribund-stock-market?utm_source=rss_feed Wed, 07 Feb 2024 01:30:14 +0000 BYD, the world’s largest electric car maker, said it expects its earnings for 2023 to jump by as much as 86.5 per cent, buoyed by record deliveries. Its profitability, however, remains far behind rival Tesla because of the American giant’s bigger profit margins. The Shenzhen-based company said in a filing to the Hong Kong and Shenzhen stock exchanges on Monday evening that its net profit for last year would come in at between 29 billion yuan (US$4.1 billion) and 31 billion yuan, a jump of 74.5... https://www.scmp.com/business/china-business/article/3250252/chinas-byd-post-big-jump-2023-profit-amid-record-ev-deliveries-even-steep-discounts-dented-margins?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3250252/chinas-byd-post-big-jump-2023-profit-amid-record-ev-deliveries-even-steep-discounts-dented-margins?utm_source=rss_feed Tue, 30 Jan 2024 05:05:12 +0000 Elon Musk, the Tesla boss and world’s richest man, is having a rough ride. BYD, the Chinese battery and electric vehicle manufacturer making inroads across Asia and Europe, has surpassed Tesla as the world’s largest maker of pure electric vehicles. More than a decade ago, Musk laughed when he was asked about potential competition from BYD. How times have changed. The Shenzhen-based carmaker is already the world’s largest producer of EVs, including plug-in hybrids. But its global deliveries of... https://www.scmp.com/comment/opinion/article/3248298/chinas-byd-electric-vehicles-leave-tesla-standing?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3248298/chinas-byd-electric-vehicles-leave-tesla-standing?utm_source=rss_feed Fri, 12 Jan 2024 17:15:43 +0000 BYD, already the world’s largest producer of electric vehicles (EVs) – a category that includes plug-in hybrid cars – has gained more bragging rights as global deliveries of its “pure”, battery-powered EVs surpassed Tesla’s in the fourth quarter. The Shenzhen-based carmaker backed by Warren Buffett’s Berkshire Hathaway, handed a record 526,409 all-electric cars to buyers between October and December, up 22 per cent from 431,603 units in the previous quarter, when it fell just short of Tesla’s... https://www.scmp.com/business/china-business/article/3247041/chinas-byd-poised-overtake-tesla-worlds-largest-maker-pure-electric-vehicles-fourth-quarter-ev-sales?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3247041/chinas-byd-poised-overtake-tesla-worlds-largest-maker-pure-electric-vehicles-fourth-quarter-ev-sales?utm_source=rss_feed Tue, 02 Jan 2024 12:30:12 +0000 BYD has accelerated the pace of international expansion amid worries about its growth in mainland China, where a stagnating economy poses a threat to sales of big-ticket items like electric vehicles (EV). “BYD is actively seeking to tap the overseas markets, banking on both exports and local production,” the company said in a filing to the Shenzhen Stock Exchange on Monday. “Our global expansion pace will pick up.” The world’s largest EV maker has sold some 200,000 pure electric and plug-in... https://www.scmp.com/business/commodities/article/3244701/byd-quickens-overseas-expansion-showrooms-offset-flat-ev-sales-growth-mainland-china?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3244701/byd-quickens-overseas-expansion-showrooms-offset-flat-ev-sales-growth-mainland-china?utm_source=rss_feed Tue, 12 Dec 2023 00:30:15 +0000 Charlie Munger, the Robin to Warren Buffett’s Batman, has died at 99, leaving an unparalleled investment legacy. Famous for his one-liners, he remains a beacon for the critical role of experience in investment. One of his oft-quoted aphorisms is “The big money is not in the buying or selling … but in the waiting.” Trading is the mechanism by which investors get exposure to stocks. Trading in and out, constantly trying to buy low and sell high is not investment but speculation, which often... https://www.scmp.com/comment/opinion/article/3243333/charlie-mungers-wisdom-crypto-poison-shows-investment-experience-counts?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3243333/charlie-mungers-wisdom-crypto-poison-shows-investment-experience-counts?utm_source=rss_feed Fri, 01 Dec 2023 03:00:08 +0000 Charlie Munger, Warren Buffett’s trusted lieutenant who helped to build Berkshire Hathaway into a US$784 billion investment behemoth from a failing textile company, has died. The Berkshire vice-chairman was 99. A former lawyer, Munger was a value investor who believed in the philosophy of long-term investments and companies’ intrinsic value. In their years together, the canny investment duo picked out dozens of winners, turning them into demigods in the eyes of adoring investors. Their Midas... https://www.scmp.com/business/china-business/article/3243223/byd-alibaba-shanghai-jahwa-warren-buffetts-deputy-charlie-munger-leaves-behind-trail-legendary-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3243223/byd-alibaba-shanghai-jahwa-warren-buffetts-deputy-charlie-munger-leaves-behind-trail-legendary-china?utm_source=rss_feed Wed, 29 Nov 2023 07:52:59 +0000 Charlie Munger, who quit a law career to become Warren Buffett’s trusted confidant and long-time second-in-command at Berkshire Hathaway, died on Tuesday morning. He was 99. Berkshire said Munger died peacefully at a hospital in California, where he lived. No cause was given. Munger would have turned 100 on January 1. “Berkshire Hathaway could not have been built to its present status without Charlie’s inspiration, wisdom and participation,” Buffett, Berkshire’s 93-year-old chairman and chief... https://www.scmp.com/news/world/united-states-canada/article/3243166/charlie-munger-who-helped-warren-buffett-build-berkshire-hathaway-dies-99?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3243166/charlie-munger-who-helped-warren-buffett-build-berkshire-hathaway-dies-99?utm_source=rss_feed Tue, 28 Nov 2023 23:41:16 +0000 BYD, the world’s largest electric vehicle (EV) maker, reported on Monday its highest ever quarterly profit for the period ending September, buoyed by surging deliveries and a cost-cutting campaign driven by its greater control over its supply chain. The Shenzhen-based company, which is backed by Warren Buffett’s Berkshire Hathaway, said in a filing to both the Shenzhen and Hong Kong stock exchanges, that net income between July and September stood at 10.4 billion yuan (US$1.4 billion), which is... https://www.scmp.com/business/china-business/article/3239716/byds-third-quarter-profit-soars-record-after-beating-tesla-and-others-ev-deliveries-capping-costs?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3239716/byds-third-quarter-profit-soars-record-after-beating-tesla-and-others-ev-deliveries-capping-costs?utm_source=rss_feed Mon, 30 Oct 2023 13:45:10 +0000 BYD, the world’s largest electric vehicle (EV) maker, expects its third-quarter earnings to hit an all-time high after it delivered a record number of cars to Chinese consumers. The Shenzhen-based company, which is backed by Warren Buffett’s Berkshire Hathaway, said in a filing to both the Shenzhen and Hong Kong stock exchanges on Tuesday that its third-quarter earnings could reach 9.55 billion yuan (US$1.3 billion) to 11.55 billion yuan, an increase of 67 to 102 per cent from the same period a... https://www.scmp.com/business/china-business/article/3238292/byd-expects-third-quarter-earnings-more-double-hit-all-time-high?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3238292/byd-expects-third-quarter-earnings-more-double-hit-all-time-high?utm_source=rss_feed Tue, 17 Oct 2023 23:00:08 +0000 BYD, the world’s largest electric vehicle (EV) maker, is making inroads into Central Asia with plans to set up a factory in Uzbekistan. The Shenzhen-based carmaker backed by Warren Buffett’s Berkshire Hathaway said that its joint venture with Uzavtosanoat JSC will produce cars starting next year. “Production will commence in Jizzakh in 2024, starting with two bestselling BYD plug-in hybrid models, the BYD Chazor and the BYD Song Plus DM-i,” BYD said in a statement on Monday evening. “It marks an... https://www.scmp.com/business/china-business/article/3237416/chinas-byd-steps-globalisation-strategy-electric-car-plant-uzbekistan-targeting-central-asia?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3237416/chinas-byd-steps-globalisation-strategy-electric-car-plant-uzbekistan-targeting-central-asia?utm_source=rss_feed Tue, 10 Oct 2023 07:18:55 +0000 Nepo babies may be dominating all the headlines these days, but not all wealthy offspring are set for life. While the children of famous multimillionaires might appear to be born with a silver spoon in their mouths, many will have to forge their own paths in life without getting a boost from their parents’ bank accounts. The Rolling Stones’ Mick Jagger recently made headlines for declaring that he’d be giving his US$500 million fortune to charity, rather than splitting it between his eight... https://www.scmp.com/magazines/style/entertainment/article/3236641/9-ultra-rich-celebrities-who-arent-leaving-fortunes-their-kids-mick-jaggers-bombshell-nothing-new?utm_source=rss_feed https://www.scmp.com/magazines/style/entertainment/article/3236641/9-ultra-rich-celebrities-who-arent-leaving-fortunes-their-kids-mick-jaggers-bombshell-nothing-new?utm_source=rss_feed Tue, 03 Oct 2023 18:00:08 +0000 Sun Valley, Idaho, is an unlikely spot for a catwalk. But that’s exactly what the paths around town became as billionaire and CEO guests strolled and biked between conference sessions at this year’s Allen & Co. event. The fashion choices of the business elite seemed to evoke the luxury style seen on the hit HBO TV show Succession, with a focus on muted tones and casual wear. Many attendees stayed committed to the colour and texture choices long favoured by tech and finance titans. Read: plenty... https://www.scmp.com/magazines/style/luxury/article/3228114/how-rock-billionaire-style-sun-valley-conference-stealth-wealth-fashion-popularised-hbos-succession?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/article/3228114/how-rock-billionaire-style-sun-valley-conference-stealth-wealth-fashion-popularised-hbos-succession?utm_source=rss_feed Tue, 18 Jul 2023 10:25:47 +0000 Great Wall Motor and BYD, two major carmakers in mainland China, have accelerated the development and production of expensive electric vehicles, aiming to carve out their own niches as competition in the market escalates. Great Wall, the mainland’s largest sport-utility vehicle (SUV) maker, officially launched the first plug-in hybrid model under its Tank brand on Monday, which starts at 335,000 yuan (US$46,460). The debut of Tank’s EV edition, known as the 500 Hi4-T, came after BYD, the world’s... https://www.scmp.com/business/china-business/article/3225611/china-evs-great-wall-byd-launch-expensive-electric-suvs-bucking-industry-trend-towards-mass-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3225611/china-evs-great-wall-byd-launch-expensive-electric-suvs-bucking-industry-trend-towards-mass-market?utm_source=rss_feed Tue, 27 Jun 2023 11:30:49 +0000 Berkshire Hathaway, the investment firm controlled by US billionaire Warren Buffett, has continued to trim its stake in BYD, selling 1.96 million shares in the Chinese electric-vehicle (EV) maker, in at least the 11th reduction since August. The shares were sold for HK$462.1 million (US$58.9 million) on May 2 at an average price of HK$235.64 per share, according to exchange data. After the divestment, the Omaha, Nebraska-based investment firm’s interest in BYD dropped to 9.87 per cent from 10.05... https://www.scmp.com/business/banking-finance/article/3219836/buffetts-berkshire-hathaway-cuts-stake-worlds-no-1-ev-maker-byd-again-selling-196-million-shares?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3219836/buffetts-berkshire-hathaway-cuts-stake-worlds-no-1-ev-maker-byd-again-selling-196-million-shares?utm_source=rss_feed Mon, 08 May 2023 13:21:51 +0000 Investment tycoon Warren Buffett on Saturday said he is more comfortable with Berkshire Hathaway Inc deploying capital in Japan than Taiwan, reflecting the growing tensions between the United States and mainland China. The billionaire investor contrasted Berkshire’s recently increased investments in five Japanese trading houses with its recent U-turn on a multibillion-dollar investment in Taiwan Semiconductor Manufacturing Co, or TSMC. “It’s a marvellous company,” Buffett said at Berkshire’s... https://www.scmp.com/news/asia/east-asia/article/3219664/warren-buffett-prefers-berkshire-hathaway-invest-japan-taiwan-due-us-china-rivalry-faults-us-bank?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3219664/warren-buffett-prefers-berkshire-hathaway-invest-japan-taiwan-due-us-china-rivalry-faults-us-bank?utm_source=rss_feed Sun, 07 May 2023 03:11:14 +0000 BYD, the world’s largest electric vehicle (EV) maker, got off to a bumpy start in 2023 as its net profit in the first three months declined 43.5 per cent on a quarterly basis amid a simmering price war in China’s automotive industry. The Shenzhen-based carmaker, backed by Warren Buffett’s Berkshire Hathaway, reported on Thursday that its net profit between January and March fell to 4.13 billion yuan (US$596.28 million) from an all-time high of 7.3 billion yuan in the fourth quarter of 2022. The... https://www.scmp.com/business/china-business/article/3218627/byd-profit-plunges-435-cent-chinas-car-market-price-war-breaks-three-quarter-winning-streak?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3218627/byd-profit-plunges-435-cent-chinas-car-market-price-war-breaks-three-quarter-winning-streak?utm_source=rss_feed Thu, 27 Apr 2023 15:01:07 +0000 BYD, the world’s largest electric vehicle maker, has reduced the price of its new budget model, the Seagull, by 5,000 yuan (US$722) in a bid to attract millions of young Chinese motorists as it edges closer to becoming the mainland’s bestselling auto brand. The Shenzhen-based company, which is backed by Warren Buffett’s Berkshire Hathaway, announced on Thursday that it will sell the entry-level hatchback at 73,800 yuan, 5,000 yuan less than the pre-order price of 78,800 yuan it offered on April... https://www.scmp.com/business/china-business/article/3218464/byd-poised-surpass-vw-chinas-top-car-brand-budget-ev-triggers-buying-spree-among-millions-analyst?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3218464/byd-poised-surpass-vw-chinas-top-car-brand-budget-ev-triggers-buying-spree-among-millions-analyst?utm_source=rss_feed Wed, 26 Apr 2023 11:59:40 +0000 Berkshire Hathaway, the investment firm controlled by US billionaire Warren Buffett, continued to trim its stake in BYD, selling 2.48 million shares in the Chinese electric-vehicle (EV) maker last month, at least the 10th reduction since August. The shares were sold for HK$539.8 million (US$68.8 million) on March 31 at an average price of HK$217.67 per share, according to stock exchange data. Following the divestment, Berkshire’s interest in BYD has dropped to 10.9 per cent from 11.13 per cent,... https://www.scmp.com/business/china-business/article/3216761/warren-buffetts-berkshire-hathaway-cuts-stake-chinese-ev-maker-byd-10th-time-sells-248-million?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3216761/warren-buffetts-berkshire-hathaway-cuts-stake-chinese-ev-maker-byd-10th-time-sells-248-million?utm_source=rss_feed Wed, 12 Apr 2023 05:09:57 +0000 BYD, the world’s largest electric-vehicle (EV) maker by sales, said that the Chinese market has entered a knockout stage and that the firm would vie to stay in the lead. “The price war is at a stage that is inevitable, as the supply of EVs is bigger than demand,” said Wang Chuanfu, founder, chairman and president of the Chinese carmaker, adding that this has been seen in other sectors such as electric appliances and mobile phones before. “Some players will be eliminated, while some will grab a... https://www.scmp.com/business/china-business/article/3215269/chinese-ev-market-consolidation-stage-byd-chief-says-some-players-being-knocked-out-others-grabbing?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3215269/chinese-ev-market-consolidation-stage-byd-chief-says-some-players-being-knocked-out-others-grabbing?utm_source=rss_feed Wed, 29 Mar 2023 10:30:08 +0000 BYD, the world’s largest electric vehicle (EV) maker by sales, has started construction of a new battery plant in Wenzhou, in east China’s Zhejiang province, raising its bet on the country’s electrification drive. The Shenzhen-based carmaker and EV battery producer’s new facility will be able to churn out 20 gigawatt-hours (GWh) of batteries annually when construction is completed – enough to power about 200,000 electric vehicles. The first phase of the factory, with planned investment of 6.5... https://www.scmp.com/business/china-business/article/3211817/chinas-byd-breaks-ground-ev-battery-plant-betting-nearly-us1-billion-despite-concerns-oversupply?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3211817/chinas-byd-breaks-ground-ev-battery-plant-betting-nearly-us1-billion-despite-concerns-oversupply?utm_source=rss_feed Tue, 28 Feb 2023 08:14:27 +0000 Warren Buffett’s Berkshire Hathaway has continued to trim its stake in BYD Co, the world’s biggest electric-vehicle (EV) manufacturer, even as the stock has slumped by more than one-third in Hong Kong over the past six months. The Omaha, Nebraska investment firm sold 1.06 million shares for HK$202.5 million (US$26 million) on January 3, or at an average price of HK$191.44, according to a Hong Kong stock exchange filing on Monday. The sale reduced its holding to 13.97 per cent from 14.06 per... https://www.scmp.com/business/companies/article/3206199/warren-buffet-cashes-us26-million-byd-bet-berkshire-hathaway-pares-stake-worlds-no-1-ev-maker?utm_source=rss_feed https://www.scmp.com/business/companies/article/3206199/warren-buffet-cashes-us26-million-byd-bet-berkshire-hathaway-pares-stake-worlds-no-1-ev-maker?utm_source=rss_feed Tue, 10 Jan 2023 02:20:05 +0000