Gotta spend money to make money.
Real estate is not EV manufacture.
https://www.reuters.com/business/autos-transportation/global-ev-sales-up-35-october-europe-ekes-out-gain-2024-11-13/
Global sales of fully electric and plug-in hybrid vehicles rose 35% in October from the same month last year, led by a 54% jump in sales in China, market research firm Rho Motion said on Wednesday.
Some purty sales charts at link.
BYD is building several factories throughout the world. It will take time to generate a return on that investment.
May 2024 BYD had 6 models in the top 10 BEV/PHEV models sold pn China. Tesla’s model Y was third with nearly 40,000 units sold. BYD sold 215,000 units of those 6 models.
Seen it all before tjscott0
2017
Evergrande again introduces 60 billion strategic investments to accelerate the transformation, the debt rate drops significantly, and the promise of profits exceeds expectations
https://www.evergrande.com/en/News/Details/31889
2018
Core Net Profit Soars to RMB 40.5 Billion
https://www.evergrande.com/en/News/Details/31989
Oops:
As a retired auditor (English FCA = CPA in the USA) I realize what goes on in company accounts. The most reliable indicator of a company’s financial health is the amount of debt it carries or how much it has in the bank.